September 15, 2017
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Bitcoin mining- Mine your own wealth
Bitcoin mining is arguably the oldest way to create wealth through bitcoin. Bitcoins are created through solving complex algorithms that create blocks that are added to the public ledger. The public ledger is the history of all transactions conducted through bitcoin.
Long story short, miners basically build the public ledger and allow the whole bitcoin system to function. As they create new blocks, miners are rewarded with new bitcoins. This encourages more miners to get in on the action, which allows the bitcoin community to grow.
Once upon a time, people could use their home PC to mine bitcoins, but over time mining has become more difficult as the algorithms have become more complex. Now, you’ll either have to buy a specially built mining rig, or join up with a bitcoin mining pool that harnesses the power of multiple computers.
If you want to check out the profitability of Bitcoin mining today use a Bitcoin mining calculator.
Bitcoin mining is arguably the oldest way to create wealth through bitcoin. Bitcoins are created through solving complex algorithms that create blocks that are added to the public ledger. The public ledger is the history of all transactions conducted through bitcoin.
Long story short, miners basically build the public ledger and allow the whole bitcoin system to function. As they create new blocks, miners are rewarded with new bitcoins. This encourages more miners to get in on the action, which allows the bitcoin community to grow.
Once upon a time, people could use their home PC to mine bitcoins, but over time mining has become more difficult as the algorithms have become more complex. Now, you’ll either have to buy a specially built mining rig, or join up with a bitcoin mining pool that harnesses the power of multiple computers.
If you want to check out the profitability of Bitcoin mining today use a Bitcoin mining calculator.
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