Introducing Bitcoin \u2014 The Flagship CryptocurrencyBitcoin is to cryptocurrency is watching Captain America is to the Avengers. It is the first, and it will always remain a leader and be ready in its value. Bitcoin is the technology demonstrator for cryptocurrency and blockchain technology. The introduction of bitcoin by Satoshi Nakamoto is considered a turning point in recordkeeping, information transmission, authentication, and finance in general.Bitcoin was once thought to be yet another fanciful figment of imagination that had no element of tangibility. There was a time when 50 bitcoins were not sellable for $.10. Today, a single bitcoin is worth more than $50,000 and is being considered as one of the most lucrative asset classes in addition to being a trustworthy hedge fund.All these bits of information might also tempt any person to earn their own bitcoins. There are different ways to earn your own bitcoin or any other cryptocurrency, for that matter.Mining \u2014 The Classic Process of Earning BitcoinsThe most classic method of earning bitcoins is through a process called mining. Mining is, in essence, as the term implies, a way to \u201cdig\u201c bitcoins through a labor-intensive process, albeit technically.Let us digress a bit to talk about how bitcoin mining works.The bitcoin and any other crypto coin exist on the distributed ledger called the blockchain. The blockchain, as the name implies, is a \u201cchain\u201d of \u201cblocks.\u201d Every block that gets appended to the chain is a result of a mathematical equation being solved.It requires quite some computing and electrical power to help solve these mathematical equations. This is, in effect, an investment. The reward for the investment is that the person whose computer helps solve the mathematical problem is given bitcoins. Every new block added would mean that a fixed amount is rewarded to them, and the amount gets\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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