So, you know a little bit about Bitcoins (also check this article if you are looking for vendors who accepts bitcoin), but how exactly are they “mined” into existence, and how can you get in on some of the action?
At its core, Bitcoin mining is simply the process of verifying other Bitcoin transactions by solving complicated mathematical hashing equations. The Bitcoin network compensates those who successfully validate a transaction with newly created Bitcoins as a reward. Given the collective number of miners around the globe; the sheer number of attempts at solving each transaction today; a Bitcoin reward, is given out around every 10 minutes.
Get started mining Bitcoins at home. Given below are a few simple steps you can do to start mining your first Bitcoin.