bitcoins tagged posts

So are Bitcoins real or can I print my Bitcoins out?

bitcoin accepted here

I’ve seen pictures of coins that say Bitcoin and notes that say Bitcoin, but are Bitcoins real? It depends.

A Bitcoin promissory note or coin is digital cryptocurrency you can send on the Bitcoin network. It is only good if it has a valid wallet address and password for the amount it claims to be. More importantly, when you take custody of that Bitcoin wallet address, it’s important nobody has seen the wallet password before you, and you trust the source providing the note. It’s also important to know the current exchange rate for Bitcoin to $US.

Think of it this way, let’s say I owe you some money. To pay with Bitcoin, I can either send a certain amount of Bitcoin to a wallet ID you created, or I can give you access to a Bitcoin wallet with the money I owe you...

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How can I earn Bitcoins, what is mining Bitcoins?

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Bitcoin is a cryptocurrency which can be used for payment of goods and services. Part of the reason Bitcoin exists, is due to the voluntary computer systems out on the Internet running the program that supports the Bitcoin network. These voluntary computer systems are often called “miners” in the Bitcoin community. Miners do the calculations to ensure payments are only able to be spent once, and they update the master ledger or “block record” with transaction data. There is also a slim chance these miners can get free Bitcoins – which is the motivation to join and support the network.

The History of mining Bitcoins

In the beginning, computer CPUs powered the Bitcoin network...

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