Securing the Blockchain - Visit a Swiss Bitcoin Mining Farm

We have the unique opportunity to visit Switzerland's biggest mining farm, operated by Bitcoin pioneer Guido Rudolphi.

Mining is used to secure the worlds most secure and most used Blockchain - the Bitcoin blockchain.

What is Bitcoin mining?

Bitcoin mining is a lot like a giant lottery where you compete with your mining hardware with everyone on the network to earn bitcoins. Faster Bitcoin mining hardware is able to attempt more tries per second to win this lottery while the Bitcoin network itself adjusts roughly every two weeks to keep the rate of finding a winning block hash to every ten minutes. In the big picture, Bitcoin mining secures transactions that are recorded in Bitcon's public ledger, the block chain. By conducting a random lottery where electricity and specialized equipment are the price of admission, the cost to disrupt the Bitcoin network scales with the amount of hashing power that is being spent by all mining participants.

https://www.weusecoins.com/en/mining-guide/
https://en.bitcoin.it/wiki/Mining

https://www.youtube.com/watch?v=GmOzih6I1zs

PS: If you'd like to work in Blockchain, checkout our Job Board: https://www.meetup.com/Zurich-Blockchain-Meetup/messages/boards/forum/21338871