Bitcoin Mining

If you have heard of bitcoins, then you have probably heard of bitcoin mining.  Yes, mining.  Not the kind that uses pickaxes but instead uses the power of computing.  Special software has been developed to use powerful computers that are able to hash out complex mathematical equations.  When these problems are solved, bitcoins are created and then awarded to the miner or mining pool.  In the beginning, bitcoin mining rigs often consisted of multiple computer graphics cards for their processing power.  Nowadays, special bitcoin mining rigs have been designed solely for the purpose of mining bitcoin.

Are Bitcoins Secure?

Part of the bitcoin mining process includes the creation of these virtual coins.  In doing so, the bitcoins are then transferred to an individual's bitcoin wallet or to the wallet of the mining pool where they are then later distributed.  Each time that a transaction takes place, the mining blockchain records and approves the transactions.  This means that bitcoin mining is valuable to maintaining the overall stability of the currency and making sure that it remains secure.

How Does One Get Started Mining?

To get started with bitcoin mining, you will fist need some type of computer to download the blockchain information.  This is essentially a constantly updating ledger of all bitcoin creation and transactions.  You can use the power of your computer's CPU or GPU to start mining bitcoins but unfortunately most computer systems lack enough power to do this efficiently.  Special mining rigs that are designed solely for mining bitcoins are really the way to go.  Also emerging recently is the ability to pay monthly fees to companies that do all the mining for you.  This cloud mining is another good way to get started with bitcoin mining.