How does bitcoin made? | Bitcointalksearch.org

psiksenz

full member

Activity: 252

Merit: 100

Quote from: teeneffigy on July 14, 2017, 03:19:22 PM

Bitcoins are generated and secured with cryptography. No one can counterfeit them as you need to break the cryptography to do so. The more miners the harder it is to break it. As of now you would need a million CPUs running for 50000 years to break just one address. or something like that.. I know its impossible in this day and age.

But its recommended to only use one address per transaction so future quantum computers cant break your private key *citation needed* Tongue

teeneffigy

member

Activity: 90

Merit: 10

Bitcoins are generated and secured with cryptography. No one can counterfeit them as you need to break the cryptography to do so. The more miners the harder it is to break it. As of now you would need a million CPUs running for 50000 years to break just one address. or something like that.. I know its impossible in this day and age.

vv181

legendary

Activity: 1932

Merit: 1273

look aluna crypto blog explanation, i think its had a very good explanation

btctousd81

sr. member

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Quote from: ruskytailz02 on July 14, 2017, 10:00:59 AM

bitcoins are generated by a competitive and decentralized process called "mining". This process involves that individuals are rewarded by the network for their services. Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange. That's how it is.

this is the best explanation you can get.,

bitcoins are virtually generated by keeping your computers or ASIC miners running , while these machine i.e. computers runnig bitcoin client or ASIC, try to do some very complicated encryptions, which in turns verifies the transactions made using bitcoin network and for that they receive the reward wihcih is part of bitcoin.

hope this helps.,

ruskytailz02

full member

Activity: 289

Merit: 103

bitcoins are generated by a competitive and decentralized process called "mining". This process involves that individuals are rewarded by the network for their services. Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange. That's how it is.

sultanagung

newbie

Activity: 14

Merit: 0

because I'm curious bitcoin it originally from?

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