Episode Details

Understanding Bitcoin Mining - And Why It Means Your Bitcoin Can Never Be Faked, Copied or Printed Out of Thin Air

Governments can create money with a keystroke. Bitcoin can only be created one way through mining. There are only 21 million that will ever exist, and right now machines around the world are racing to find the last ones.

This episode explains how that race works and what it means for the money in your pocket.

In this episode:

• What Bitcoin mining actually is explained through analogies that make it click, including why a small mining company in India taught Myles everything he needed to know about how the game has changed
• The Byzantine Generals Problem a computer science puzzle considered unsolvable for 26 years that Satoshi Nakamoto cracked in a nine page document, and why the programmers who understood what that meant were the first people to buy Bitcoin
• Why the energy miners spend is not waste but the most expensive security system ever built and what it would actually cost someone to try and fake a Bitcoin transaction in 2026

I built a free calculator that shows exactly what consistent monthly Bitcoin investing could do to your wealth over 5, 10 or 20 years. It's called the Steady Stack Calculator — punch in what you can afford to put in each month and see what the numbers actually look like at the other end. Most people are genuinely surprised. You can also download the 10 Bitcoin Mistakes to Avoid document completely free at the same link.

Steady Stack Calculator and 10 Bitcoin Mistakes Document — click here to grab both for free

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