Money
Where Can I Find How Money Works?
Is Bitcoin?
What is Bitcoin mining?
This is the process of performing a computer calculation to receive Bitcoins. The miners assist in validating the network, by performing the transactions.
By completing the computerized calculations they are added to the block chain. The calculations can get harder and harder.
The way that Bitcoin works, is that it is a computer file which is stored in digital wallet app on a computer or smart phone. People can send Bitcoins to each other, and the transactions are recorded on a public list, called a blockchain.
The purpose of Bitcoin is to allow people to send money over the internet. It lacks less control of regulations of traditional currencies. This system of crypto currency decentralized, and not as regulated.
There are two avenues of converting Bitcoin into cash, this can be done through person to person transactions, or a third-party exchange broker.
Is Bitcoin?
What is Bitcoin mining?
This is the process of performing a computer calculation to receive Bitcoins. The miners assist in validating the network, by performing the transactions.
By completing the computerized calculations they are added to the block chain. The calculations can get harder and harder.
The way that Bitcoin works, is that it is a computer file which is stored in digital wallet app on a computer or smart phone. People can send Bitcoins to each other, and the transactions are recorded on a public list, called a blockchain.
The purpose of Bitcoin is to allow people to send money over the internet. It lacks less control of regulations of traditional currencies. This system of crypto currency decentralized, and not as regulated.
There are two avenues of converting Bitcoin into cash, this can be done through person to person transactions, or a third-party exchange broker.
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What is money?
Money is the currency of exchange used to buy or purchase goods and services.
