Extraction Bitcoin (Bitcoin Mining) is a way to get Bitcoin. As mentioned earlier, we can see how large the global Bitcoin cash system, which stores the transaction history (or "cash flow") from one person to another. If Bitcoin transactions are processed in the Bitcoin network - this means that Bitcoin has been shifted from one person to another - someone has to make sure all transactions are properly recorded and synchronized monetary system worldwide.
In terms of Bitcoin, this process is not carried out by individuals or companies, but by thousands of computers around the world that are connected to the internet. This computer is known as miners or 'miners'. Simply put, they are 'computers that process transactions'.
To do this processing in a safe manner, computers need to carry out complex calculations that take up enormous computing effort, so that a large amount of energy is needed as well as sophisticated special tools. Someone - the owners of these computers - need to pay for the equipment and electricity, so they have to get compensation for all the effort and money they spend supporting this network. They get compensation through newly mined Bitcoin. The new Bitcoin mined acts as an award and an incentive for those who contribute to the system that supports the transaction process.
Another way to understand this is to think about what would happen if large banks would build the largest global transaction processing system: they would spend billions of dollars and then charge small transaction fees to users to reduce the cost of building them. system.
Where does Bitcoin come from?
Bitcoin is 'created' by someone or a group of people with the name 'Satoshi Nakamoto'. Does anyone really know who he is? Although there are many articles and investigations to find out the truth about who he is (or they are), there is no strong evidence to date. Is it important? Not at all. Satoshi designed the entire Bitcoin system with an 'open manner' attitude - meaning that this code is available to be seen and checked by everyone, so there are no hidden secrets, and no influence from the creator. Over time, many people began working on these codes so that it was very different from the initial design Satoshi made.
It is important to note that there is a misunderstanding about Satoshi who says that Satoshi only created Bitcoin. As another breakthrough in science, Satoshi's work was created by the hands of many. In the past month, many experts, technicians, and mathematicians in cryptography research, systems and others. Satoshi summarizes all this work in a coherent plan and clearly proposes the plan. When reading the Satoshi Whitepaper, you will read a reference for all the discoveries that lead to success.
Bitcoin as a payment system
How do you transfer money from a year ago when we lived, lived and lived in a small town? We are easy to buy, just like cash now. But when money is transferred online, it will be somewhat complicated. Banking and credit card services can solve this problem through 'system ledger' ('cash system') - which stores your account history and player accounts.
When John transfers money online from one person to another, it is the bank that transfers from John to others. John can't do it himself because there is a risk that he cheats - he can copy (paste) and paste (stick) digital money (because all of that is just a number on a computer) and send to two different people. So, we trust banks to send money and make sure only one person receives the money. The bank can cheat, but we believe they do not carry.
If the transfer occurs at the same bank, it is easy to do. But if the bank is different, this will be a bit complicated because they may have a different cash system and need to be matched. So they take a small fee, and usually accept the transfer for some time. When these banks and financial systems come from different countries, things become more complicated: languages, systems, different currencies, and more people must coordinate and so on, so the costs and timing of transfers increase. That is why the current financial system is very complex. The system is a big mess of various cash systems in the world.
Bitcoin changed all that. With what? Bitcoin is a cash system that synchronizes throughout the internet, so everyone can access the same cash account in real time regardless of who and where they are. The result? Money can be transferred from one party to another without delay and very high costs. Like when money was used before, before the world became so big and complicated.
What is the Bitcoin payment system used for? The answer: whatever you use with ordinary money: send to friends and family - both locally and abroad, buy goods online, receive salaries, and so on.
In terms of Bitcoin, this process is not carried out by individuals or companies, but by thousands of computers around the world that are connected to the internet. This computer is known as miners or 'miners'. Simply put, they are 'computers that process transactions'.
To do this processing in a safe manner, computers need to carry out complex calculations that take up enormous computing effort, so that a large amount of energy is needed as well as sophisticated special tools. Someone - the owners of these computers - need to pay for the equipment and electricity, so they have to get compensation for all the effort and money they spend supporting this network. They get compensation through newly mined Bitcoin. The new Bitcoin mined acts as an award and an incentive for those who contribute to the system that supports the transaction process.
Another way to understand this is to think about what would happen if large banks would build the largest global transaction processing system: they would spend billions of dollars and then charge small transaction fees to users to reduce the cost of building them. system.
Where does Bitcoin come from?
Bitcoin is 'created' by someone or a group of people with the name 'Satoshi Nakamoto'. Does anyone really know who he is? Although there are many articles and investigations to find out the truth about who he is (or they are), there is no strong evidence to date. Is it important? Not at all. Satoshi designed the entire Bitcoin system with an 'open manner' attitude - meaning that this code is available to be seen and checked by everyone, so there are no hidden secrets, and no influence from the creator. Over time, many people began working on these codes so that it was very different from the initial design Satoshi made.
It is important to note that there is a misunderstanding about Satoshi who says that Satoshi only created Bitcoin. As another breakthrough in science, Satoshi's work was created by the hands of many. In the past month, many experts, technicians, and mathematicians in cryptography research, systems and others. Satoshi summarizes all this work in a coherent plan and clearly proposes the plan. When reading the Satoshi Whitepaper, you will read a reference for all the discoveries that lead to success.
Bitcoin as a payment system
How do you transfer money from a year ago when we lived, lived and lived in a small town? We are easy to buy, just like cash now. But when money is transferred online, it will be somewhat complicated. Banking and credit card services can solve this problem through 'system ledger' ('cash system') - which stores your account history and player accounts.
When John transfers money online from one person to another, it is the bank that transfers from John to others. John can't do it himself because there is a risk that he cheats - he can copy (paste) and paste (stick) digital money (because all of that is just a number on a computer) and send to two different people. So, we trust banks to send money and make sure only one person receives the money. The bank can cheat, but we believe they do not carry.
If the transfer occurs at the same bank, it is easy to do. But if the bank is different, this will be a bit complicated because they may have a different cash system and need to be matched. So they take a small fee, and usually accept the transfer for some time. When these banks and financial systems come from different countries, things become more complicated: languages, systems, different currencies, and more people must coordinate and so on, so the costs and timing of transfers increase. That is why the current financial system is very complex. The system is a big mess of various cash systems in the world.
Bitcoin changed all that. With what? Bitcoin is a cash system that synchronizes throughout the internet, so everyone can access the same cash account in real time regardless of who and where they are. The result? Money can be transferred from one party to another without delay and very high costs. Like when money was used before, before the world became so big and complicated.
What is the Bitcoin payment system used for? The answer: whatever you use with ordinary money: send to friends and family - both locally and abroad, buy goods online, receive salaries, and so on.
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