The Ultimate Guide To Bitcoin

What is Bitcoin?

Who created Bitcoin?

How does Bitcoin work?

  • Mining rigs are specialized computers that run the calculations necessary to validate and record a new transaction.
  • The aggregate computer power of the miners is employed to maintain the correctness of the ever-growing ledger.
  • The Bitcoin network operates a continual lottery in which all mining rigs compete to solve a math problem first. Every 10 minutes or so, a winner is chosen, and the winner adds new valid transactions to the Bitcoin ledger.
  • As the value of bitcoin has increased, its simple divisibility (the ability to acquire a small portion of one bitcoin) has become an important feature.
  • Nakamoto programmed the network so that the total number of bitcoins never exceeds 21 million, maintaining scarcity.
  • There are about 3 million Bitcoins available to be mined, which will happen gradually.

What are the use cases of Bitcoin?

5 Tips for Bitcoin buyers

Where can you buy Bitcoin?

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