Bitcoin miners around the world compete for the chance to add a new block and earn the block rewards paid in bitcoins. One recent block earned a 6.25 bitcoin mining reward plus 7.10 bitcoins in network fees. In this guide, we’ll explain how Bitcoin mining works as well as the pros and ...
Bitcoin has inspired thousands of cryptocurrencies since it launched in 2009, but in terms of value, it still stands alone. Despite the volatility of its price, its monetary policy builds in a measure of stability by limiting mining to 21 million Bitcoins across a predefined schedule. Although t...
In this article, I’m going to cover everything you need to know about Bitcoin mining.What’s more, I’ll explain it to you in simple, non-technical language, such that by the end of the article, you will be able to confidently explain what Bitcoin mining is to a 5 year old kid....
Bitcoin mining is notoriously complicated and can be difficult to understand, but the process is not too foreign if we use a more real-world example to explain it. Imagine you’re in a classroom and have to write down a full page with about 2,000 transactions. You need to record ...
Here's a Bitcoin mining example that might help explain what you get if you won a block reward. It’s important to note here that Bitcoin’s mining rewards every 10 minutes are roughly the same. Your payout, should you be so lucky, will depend on whether you mine a block yourself (...
Mainstream media tend to explain every Bitcoin price movement with the same method of evaluating the price trend of stocks. Earlier this week, two leading news publications Zerohedge and The Street reported that theBitcoin price “plunged”as a result of the UK government and European central bank...
You could start a Bitcoin blog or crypto information site that will explain the basics of Bitcoin (or other cryptocurrencies) to newbies and/or keep the general public up-to-date with all the important things going on with the cryptocurrency at any given time. Give tips, advice, resources, ...
To use Bitcoin, you’ll need a Bitcoin wallet. But what is a Bitcoin wallet, how does it work, and how do you get one? In this guide, we’ll explain how to get a Bitcoin wallet and discuss some of the top choices. A Bitcoin wallet holds the private keys that control your crypto...
2. Transfer Funds via Bitcoin (not recommended) As recently as a couple years ago, China accounted for the most Bitcoin trades worldwide. Unfortunately, in January of 2017China banned virtual currency exchanges, which now makes it very difficult, if not impossible, to buy and sell Bitcoin usin...
A Bitcoin Fork is a term describing a split in theBitcoin network. A fork can result in the creation of new coins that can be claimed by existing Bitcoin owners. In this post I’ll explain in detail what Bitcoin forks are, what risks they entail, and how to claim coins generated from...