Tag Archives: what is bitcoin mining and how it works

Explaining Cryptocurrency Mining / Bitcoin and Ethereum

This computer is making me money right now. While that might sound like some scummy pop-up ad, in reality, it’s all thanks to Cryptomining. You’ve probably heard of cryptocurrency, such as Bitcoin and Litecoin. These are digital currencies that are worth real world money. For example, a single bitcoin goes for about $2400 right now. This has become a really big industry. Not only has Bitcoin been recognized as legal currency in places like Japan, but you can spend Bitcoin at a lot of online retailers, such […]

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What is Bitcoin Mining – Old Question, New Answers

What is Bitcoin mining? Bitcoin operates as a peer to peer network. This means that everyone who uses Bitcoin is a tiny fraction of the bank of Bitcoin. But where do Bitcoins come from? With paper money a government decides when to print and distribute money. Bitcoin doesn’t have a central government. With Bitcoin, miners use special software to solve math problems. And are issued a certain number a bitcoins in exchange. This provides a smart way to issue the currency. And also creates an incentive for […]

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