Probability in Bitcoin Mining: The Hashing Function

How does the hash function work in the world of Bitcoin mining? Peter Van Valkenburgh of the Coin Center explains how the hash function in Bitcoin uses entropy to select Bitcoin miners. As always, the Federalist Society takes no position on particular legal or public policy issues; all expressions of opinion are those of the speaker. Reach Peter Van Valkenburgh on Twitter: @valkenburgh https://twitter.com/valkenburgh Related links: What is Bitcoin Mining? https://youtu.be/qFOeFXwCuLw Bitcoin Hash Functions Explained https://www.coindesk.com/bitcoin-hash-functions-explained/ Bitcoin: Cryptographic Hash Functions (Khan Academy) https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking/bitcoin/v/bitcoin-cryptographic-hash-function Bitcoin Miners Signal Revolt Amid Sluggish Blockchain https://www.bloomberg.com/news/articles/2017-03-13/bitcoin-miners-signal-revolt-in-push-to-fix-sluggish-blockchain Bitcoin Splits in 2 http://www.businessinsider.com/bitcoin-price-fork-happens-2017-8