35 lines
1.1 KiB
TeX
35 lines
1.1 KiB
TeX
%------------------------------------------------
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\begin{frame}{Bitcoin Mining}
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\begin{columns}[t] % The "c" option specifies centered vertical alignment while the "t" option is used for top vertical alignment
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\column{.45\textwidth} % Left column and width
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\textbf{Rewards and Fees}
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\begin{enumerate}
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\item{Awarded by ``lottery''}
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\item{Lottery completes \(\approx \) every 10 minutes}
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\item{Risk pools smooth returns}
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\end{enumerate}
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\column{.5\textwidth} % Right column and width
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\textbf{Costs}
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\begin{enumerate}
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\item{Fixed cost: Specialized computers }
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\item{Marginal cost: Electricity}
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\end{enumerate}
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\end{columns}
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\mbox{}
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\newline
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\newline
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\textbf{Model of Single Period Returns}
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\newline
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\(Revenue=\text{Total Reward}\cdot \frac{\text{Tickets Owned}}{\text{All Tickets}}\)
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\newline
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\(Costs=\text{Electricity Used}\cdot\text{Price of Electricity}\)
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\newline
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\(\text{Tickets Owned}=f(\text{Computer Output},\text{Electricity Used})\)
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\newline
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\(\text{Total Reward}=\text{Mining Reward} + \text{User Fees}\)
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\end{frame}
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