Topic: What is the origin of the term "mining"? (Read 227 times)
I do not know who first used the term "mining" for the first time. but it seems that at the beginning bitcoin began to be known and popping up only some altcoin finally term "mining" began to be used, my analysis is likely at that time people start to equate the mining process in conventional (gold) with digital mining (crypto)
I like to think of generating bitcoins as problem solving because you are basically just solving complicated math problems. The term mining still sounds very odd to me since its a digital item and not physical.
This is all I have to say.
Luckily.
I think we all know the word mining is derivated from the infamous economical philosopher grandmaster Mi Ning who lived in the 4th century BC on a mountain top in the Himalaya, where he got struck by lightning on a hot and humid Augustus afternoon, after which he wrote his masterpiece "Clyptocullencies: past, plesent and futule".
Some people say Satoshi is Mi Ning's after after after after after after... (you get the picture) grandson. Others claim Satoshi was simply Mi Ning's reincarnation.
History can be so interesting.
For me mining is Very correct word to describe what is going on. It's literally like mining gold ore mining some other ores. This is all I have to say.
Satoshi Nakamoto 2008 bitcoin paper!
not exactly a direct thing but page 4 section 6. Incentive is talking about how new coins are created and it is comparing it with mining gold and how those finding blocks by using their CPU and electricity are like gold miners.
not exactly a direct thing but page 4 section 6. Incentive is talking about how new coins are created and it is comparing it with mining gold and how those finding blocks by using their CPU and electricity are like gold miners.
While he compares the distribution process to mining gold, he doesn't call it "mining". I'm looking for the term's first use.
I think Mr Satoshi suggested the name. Since Bitcoin is originated from the created block which is made by calculating continuos equation. So btc came from inside the block which is liklt to mine. And thats why the word "Mining" is set as standard.
It is a system that decodes the algorithms, the phrase "mining" was born for the gold digger. This means that resources need to be exploited, and it has labor value.
Satoshi Nakamoto 2008 bitcoin paper!
not exactly a direct thing but page 4 section 6. Incentive is talking about how new coins are created and it is comparing it with mining gold and how those finding blocks by using their CPU and electricity are like gold miners.
not exactly a direct thing but page 4 section 6. Incentive is talking about how new coins are created and it is comparing it with mining gold and how those finding blocks by using their CPU and electricity are like gold miners.
That's an interesting post. Chu mining cryptocurrency new cryptocurrencies are generated. it is basically a system where cryptocurrencies are verified and added to the blockchain system.
I'm interested in finding out the origin of the term "mining". Who suggested it? Where was it first used? Were other terms used before "mining" became standard?
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