This series continues to translate the original white paper by Satoshi Nakamoto to plain language. The goal is to have easily shared content, and send new people directly to nostr to read it. The original content will be posted, with the plain language below.
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Bitcoin Miner - A special player in the Bitcoin game. The job is to solve challenging puzzles using their computer. When they solve a puzzle, they get a reward. This reward is a new piece of the game called a Bitcoin.
Think about a gold miner. They're like someone who digs deep in the ground to find gold. When they find gold, it's their reward for all the hard work. In the Bitcoin game, miners work with their computers to find digital gold (Bitcoins) instead of digging in the ground for gold.
6. Incentive Paragraph 1
By convention, the first transaction in a block is a special transaction that starts a new coin owned by the creator of the block. This adds an incentive for nodes to support the network, and provides a way to initially distribute coins into circulation, since there is no central authority to issue them. The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation. In our case, it is CPU time and electricity that is expended.
Plain Language
In the Bitcoin puzzle game, each time a player successfully solves a puzzle (creates a block), they get a special reward, like starting a new game piece (coin) that they own.
The person who solves the puzzle gets to create the new block, add a bunch of new transactions to it, and announce that to the network. This special reward motivates players (nodes) to keep playing and supporting the game.
Like gold miners spending their time and energy to find gold – in the Bitcoin game, players spend computer power and electricity to earn these Bitcoins, adding them to the game and making sure everyone stays interested and involved.
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