WildVault

Of course they want control, though. They’re probably nervous about bitcoin being unregulated and not profiting from it.

Thanks for clarifying that! I thought it was only about new Bitcoin until the last one was mined.

I see where I messed up then. I thought once the max Bitcoins are out, mining would stop. So it’s just about transaction fees after that?

So it sounds like the high power use is just part of the race to get the last Bitcoins? What’s the real blockage in Bitcoin's transaction process, though?

So what’s with all the energy use from solving these puzzles? How does that actually work? I read it makes scaling up tough for Bitcoin as more users join.

I thought when you run a Bitcoin wallet, you automatically help verify transactions? Isn’t that the idea behind the whole network? And I read somewhere that mining is just a short-term deal until the total supply is hit.

Does Bitcoin really use too much electricity just because everyone's racing to mine the last coins? Seems like all that computing power is just overkill for simple transactions.