If you’re like most of us, when your first heard about cryptocurrencies, you heard about Bitcoin (BTC). And as you waded through the morass of information trying to get a handle on what Bitcoin really was, one of the first big obstacles you ran into was that BTC comes into existence by a process called “mining.”
I thought to myself, “you mean like gold?”
If that stumped you, you’re not alone. I know it did me.
In fact, as I began my cryptocurrency journey, the process of mining became one of the most fascinating – and tricky – concepts to get my head around. I really didn’t know what to believe.
Well, no worries.
In today’s installment, I’ll give you the truth behind mining cryptocurrency. I’ll break down the basics of cryptocurrency mining, what it’s about, how it’s done, and why people do it. And if I’ve done my job, you’ll get a good understanding without a bunch of technical jargon.
Now, if you’re looking for a starter kit on crypto, I recommend taking a look at a high-level explanation of cryptocurrency and why it’s such a big deal. You don’t need those to get a good understanding of what we’ll talk about today, but they may be able to fill in some holes.
First off, some housekeeping items. Continue reading "The Truth Behind Mining Cryptocurrency"