Jul 10, 2017 · 1 min read
Cameron, thank you for sharing. This is the best explanation of the blockchain, Bitcoin, Ethereum that I’ve seen so far, and now even Steem makes sense. I did not realize the circular nature of the Bitcoin model, that the problems being solved to mine the coins are actually authenticating the ever increasing number of transactions on the network, so thanks for that illustration. I wonder what happens when the last coin has been mined, what will be the motivation for continued computing power to keep authenticating transactions. If not for a mined coin, then for what?
