When it comes to conventional fiat money systems, governments simply print more money when they need to. However, in bitcoin, money isn’t printed at all – ‘miners’ discover it. Essentially, computers worldwide ‘mine’ for coins by competing with one another.
How Does Bitcoin Mining Take Place?
Okay, here’s how it works: people are able to send bitcoins to each other over the bitcoin network 24/7, but unless someone keeps a tally of the transactions, no-one would be able to keep track of who had paid x amount.
The bitcoin network deals with this vulnerability …
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