@Perfect agent,

I haven't read up on this specifically, I could probably google it right now and pretend to really know it but I'll you what mining does as I picked up in bits and pieces.

First, more miners secures the network as more block chains are created.


Second, more owners increase the number and frequency of the confirmations.


Third, miners are needed as people mine a portion of their CPU/GPU cycles are taken and used to create the next block chain, so without miners bitcoin can't exist.  This is why Bitcoin eats the energy of a nuclear powerplant?

This is all I know, but I'd love to hear additional things from you.  From my point of view, bitcoin et al are financial instruments, I have a more theoretical mind and small things I find tedious and to me have little to no value.  Like, now does bitcoin work, it makes little difference to me as long as I know its secure and it works and I know that there is nothing in existence the govt can't confiscate and make their own.

So why would I waste memory space learning useless things which I cannot change and really help me with nothing.  It would have helped me with nothing when launching my coin as the miners you get is almost pure luck at this time unless you can hype your coin or advertise it.

So I try to focus on things of important and things I can change, like features for example or how to make a better coin, how to make a more popular coin, things I can alter cause no matter how much I learn about Bitcoin's functions I will never alter the way it's mined since a phd mathematician or a team of them are much smarter than me and I'm sure it was done right cause in my mind, govt or not, this was done with a purpose.