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Topic: [2014-07-25] What is Bitcoin mining - and how does it work? (Read 634 times)

legendary
Activity: 2212
Merit: 1199
Mistakes in 1st paragraph Cheesy

Like OP quoted also :
"Bitcoin is a virtual currency, or “cryptocurrency”, that first appeared on the radar in 2009 after an anonymous creator “buried” 21 million coins online."

...


So far as I know Bitcoin is a Digital Currency not a Virtual Currency...

http://en.wikipedia.org/wiki/Virtuality

Virtual currency are coins from Second Life Smiley

Bitcoin is not a Virtual Currency ... Smiley
Quote
Although its status as a currency is disputed, media reports often refer to bitcoin as a cryptocurrency or digital currency.
sr. member
Activity: 364
Merit: 250
http://www.telegraph.co.uk/finance/currency/10987850/What-is-Bitcoin-mining-and-how-does-it-work.html

 Bitcoin is a virtual currency, or “cryptocurrency”, that first appeared on the radar in 2009 after an anonymous creator “buried” 21 million coins online.

Bitcoin mining is the complicated process through which new Bitcoins are made.
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