THE QUESTION ALL OF US ASK AT SOME POINT: WHAT IS BITCOIN MINING?
BITCOIN IS MINED DIGITALLY.
Let’s break it down in simple words.
The word ”mining” means in this context that all over the world, state-of-the art computers are working on solving mathematical calculations using special software, and as a result, issue a certain amount of Bitcoins. It might be a simplified definition but for those of us who haven’t got more than everyday practical knowledge in IT, that’s as deep as we should go because it would take a black-belt IT expert to take in the details of the technology. We always say to those who are dying to know more, that you should approach coin-mining like we approach our computers, for example: we have no idea how all the date consisting of zeroes and ones become visible information on our displays, however we are well aware how to use the information on our display, and that’s what matters. So, how the Bitcoin that landed in my e-wallet/digital wallet/hardware wallet was created, I don’t know. But I know that it’s good to have that Bitcoin there, and I know that looking at its value chart I will be very grateful to myself in a not so distant future for this decision of mine (see Bitcoin’s value chart since the beginning).