Plain Strata: The Easy Half, A Network Wants Miners to Run AI and Checking That Work Is the Hard Part
A Bitcoin miner picks a random number, runs it through a fixed scrambler, sees the result is not small enough and picks another, a few hundred trillion times since you started reading this sentence, and for seventeen years the standard complaint has been that all that electricity buys nothing. The complaint misreads the machine, because producing the winning number costs a planet and checking it costs one pass on any laptop, and that gap is the only reason a network of strangers can accept a page of records from someone with no license, no name and no address. On 18 August, Arthur Hayes, who…
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