Dear Readers,
Mining is easily one of the most visible aspects of the Bitcoin ecosystem. The blockchain cannot survive without people willing to trade computing power and electricity to process Bitcoin transactions. Mining is constantly attacked for the amount of energy it uses. And commentators in the news and on social media often share opinions about the latest developments within mining companies and mining pools.
Given the frequent public dialogue about Bitcoin mining, one would think that the process would be rather well understood. For that reason, it’s surprising to see how many people fall for some pretty wild misconceptions about Bitcoin mining and pools. I hope to debunk a pair of the more prominent misunderstandings today:
