Question about Computers & Internet
Posted by Anonymous on
Bitcoin Mining is the process by which Bitcoin Digital Currency is created. Mining verifies transactions on the Blockchain (a ledger of transactions, a copy of which is 'distributed' widely across computers worldwide, peer to peer) and a reward is given to the successful verification of these transactions. The awards add up and eventually (with quite some difficulty) a Bitcoin is created. Therefore a Bitcoin Miner is very much like the Federeal Reserve, because they literally create money. In fact you, yourself can become a Bitcoin miner from as little as US$25. Bitcoin is Digital Money. It works just like bits of information. Very long digital codes that represent a verified, unique representation of money. This can be transferred Peer to Peer, or Person to Person and eliminates the need to have banks. It is very popular in countries where currency has depreciated rapidly. People in those countries have moved to Bitcoin, which can be spent normally through EFTPOS and VISA and MASTERCARD Debit Cards at Retail. Eventually, digital money will naturally replace cash money. You can diversify your savings into Bitcoin to hedge against currency devaluation, which is a very real thing world wide. For more information contact www.glynmaclean.com
Posted on Oct 09, 2016
Bitcoin is like a digital money. It works for the blockchain technology. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees. It is the most secure way to transfer the money. It can be transferred instantly anywhere in the world. The best thing it is not controlled by the government or institution. You can refer to Kevin Patrick Hobbs.
Posted on Jun 13, 2017
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Posted on Jan 02, 2017
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