ilmscore | How Bitcoin Mining Works: A Complete Beginner's Guide

How Bitcoin Mining Works: A Complete Beginner's Guide

Predictions from this Video

Total: 7
Correct: 0
Incorrect: 0
Pending: 7
Unrated: 0
Prediction
Topic
Status
The next Bitcoin halving, expected in 2028, will reduce the new BTC reward per block to approximately 1.5 BTC.
"The next Bitcoin harving is expected to occur sometime in 2028 and will cut the amount of new BTC in each block all the way down to just over 1.5 BTC"
BTC
Pending
As Bitcoin's price increases, more miners will join, leading to increased energy consumption for Bitcoin mining.
"if btc's price continues to rise then so will the number of Bitcoin miners this will result in even more energy being used for Bitcoin mining"
BTC
Pending
In the future, Bitcoin miners will likely rely on the cheapest energy sources, with renewables, particularly nuclear, being the most probable.
"Bitcoin miners are incentivized to find the cheapest forms of energy possible in order to maximize profits most of the time this means using energy that would otherwise be wasted like flared gas sometimes it means using very dirty energy like coal but since we're talking about the Future Let's think about the future which energy source will be cheapest in the coming years well the answer is likely Renewables specifically nuclear"
BTC
Pending
Publicly traded Bitcoin mining companies, such as Marathon Digital, are acquiring their own energy sources like wind farms.
"many of them have been acquiring their own energy sources too Marathon digital buying a wind farm is one of many examples"
BTC
Pending
Bitcoin miners can utilize intermittent energy sources like wind because their ASICs can be powered on and off as needed, unlike technologies like AI.
"unlike Technologies like Ai and indeed Society in general Bitcoin miners don't need a constant power supply and can run on intermittent and unreliable energy sources like wind because as6 can be turned on and off whenever it makes sense to do so"
BTC
Pending
When energy becomes extremely cheap, making Bitcoin mining nearly free, it will signal that Bitcoin is nearing its peak price with widespread FOMO and no remaining FUD.
"what happens when energy becomes so abundant that it costs next to nothing to mine Bitcoin come to think of it we'll know we're near btc's top when people start asking that question because it will mean that all the fud is gone and everyone is feeling fomo instead"
BTC
Pending
Microsoft and Google are purchasing nuclear power plants as the most cost-effective long-term energy solution for their AI data centers.
"big Tech giants like Microsoft and Google recently purchase nuclear power plants they need massive amounts of energy to power their Advanced AI data centers and they've done the maths and realized that the cheapest long-term option is to create their own nuclear power sources"
AI Data Centers and Nuclear Power
Pending