Bitcoin miners aren’t actually producing BTC?! What?

Video Transcript:

crazy fact for you did you know that Bitcoin miners aren’t actually producing their own Bitcoin instead they sell their raw material compute power hash rate to a mining pool who manages an entire pool of hash rate to mine blocks faster and the reason for this is if you’re a tiny tiny percentage of the network you’re going to get a tiny tiny percentage of the blocks and if the blocks are only 144 per day well then to get one block a day you need to be 144th of the network which is actually tens of millions of dollars worth of Hardware if you’ve only got a small amount it means that you may find a block every 3 months but what if your electricity bill is monthly you have an imbalance of cash flows so people join mining pools sell their hash rate are paid Bitcoin in return and the poll manages the production of Bitcoin blocks it’s called block templating and J