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BITCOIN MINING PROCESS IN SINGAPORE

BITCOIN MINING PROCESS IN SINGAPORE

Submitted by • August 20, 2018 www.clubmining.net

When you hear about Bitcoin "mining," you envisage coins being dug out of the ground. But Bitcoin isn't physical, so why do we call it mining?
Because it's similar to gold mining in that the Bitcoin exist in the protocol's design (just as the gold exists underground), but they haven't been brought out into the light yet (just as the gold hasn't yet been dug up). The Bitcoin protocol stipulates that 21 million Bitcoin will exist at some point. What "miners" do is bring them out into the light, a few at a time.

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Voted by Mining_01

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