Mining for Bitcoin so that they will be MINE

 

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 of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.

Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

How does one mine for Bitcoins?

Miners confirm transactions are being conducted in a trustful manner.  Miners use software to verify if transactions are valid.  The process utilizes processing power from the miners.  Therefore the miner is rewarded with Bitcoin when the tasks are run successfully.

Learn about the Hashcash.

Learn more about Bitcoin Mining from the official BitcoinMining.com website. 

Learn how to buy Bitcoins.

 

A bitcoin miner’s job is to convert electricity into hash power. Miners that do this using the least amount of electricity per hash are the most efficient.  Bitcoin mining difficulty measures how difficult it is to find a new block. Assuming a stable Bitcoin price and no change in your hash rate, expect your earnings to decrease as difficulty increases. Learn more about Bitcoinmining difficulty.

Learn more about Bitcoin.

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