What is the significance of bitcoin mining? Why do you need to consume so many resources to mine?

Significance of Bitcoin Mining —— Distribution of Initial Bitcoin

Opponents of bitcoin accuse mining of wasting a lot of resources to throw coins meaningless, while supporters take gold mines as an example to waste a lot of resources to dig holes meaningless. For the bitcoin system, the biggest significance of this resource-consuming mining is that the initial bitcoin of 2 1 10,000 is allocated fairly, just like consuming resources to dig gold, and consuming resources to dig bitcoin is the only way to allocate the initial bitcoin fairly.

Because of its open source code, there are thousands of plagiarists, competitors and improvers in Bitcoin. Usually, those who simply copy and imitate Bitcoin are called shanzhai coins, and those who add some new functions to Bitcoin are called competitive coins. Some coins add other functional modules such as smart contracts to Bitcoin and call themselves "two tokens". These thousands of coins have tried all the initial coin distribution modes you can imagine, such as Aurcoin, which distributes the initial coins to every Icelandic equally, Nextcoin, which distributes the initial coins to 73 crowdfunding participants, XRP, which is controlled by the developer and slowly distributes most of the initial coins.

However, the fairness of all these methods of distributing initial coins is far weaker than that of burning money to obtain initial bitcoin. Fairness is the core issue of a monetary system. Therefore, although bitcoin mining consumes a lot of resources, mining is as reasonable as consuming resources.