Bitcoins, as you may already know, are not made by central banks. And as you may have already heard, they are ”mined” by Bitcoin ”miners.” Bitcoin miners are people who use powerful computer equipment to verify bitcoin transactions. Each time they successfully verify 1MB (megabyte) worth of transactions, also known as a ”block,” they becomeContinue reading “How is Bitcoin Created? (A High-level Overview)”
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What is Bitcoin?
Bitcoin is a cryptocurrency, a cryptoasset, and a store of value. It was invented by a person or a group of people who goes by the pseudonym Satoshi Nakamoto. The first Bitcoin was released on January 2009. Bitcoin is revolutionary because it is decentralized — that means that there are no banks or third partiesContinue reading “What is Bitcoin?”