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What is BitCoin?

CharlieMR
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After my research I still don't get what BitCoin Mining is. Can some1 help?

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A Bitcoin is a "code" by mining BitCoins you want to calculate that code :D

 

 

these days it's nearly impossiible to find a bitcoin on your own, you need to mine in a pool or even buy a special RISC just for bitcoin mining.

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Bit coin (from what i understand Im no expert) is a currency that you earn by having your computer solve complex algorithms but as more and more algorithms get solved the harder it is to get bit coins, and you can use these coins to buy some stuff online or i think some people buy them off you for real money.

 

thats what i understand of it, im sure there is more than just this.

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It's something you don't need to worry about.  There is a lot of hype to it, but just like any "investment" opportunity, it's prime time to get in on it has passed.  At this point, the only reliable or predictable way to gain bitcoin is to buy it with cash, but just like anything, it's value goes up and down.  And from what I have seen, bitcoin is very volatile.  It's value is also based solely on the people who own it willingness to use it, since it has no real backing outside the will of the owners, it's not a currency worth jumping into at this point.

 

Keep in mind that my views on this are based solely on my bias toward slow and steady investing, with long term gains trumping short term gratification.

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Khanacademy has a good series of bitcoins explanation videos.

I recommend you check them all out if you're interested ;)

Pretty easy to digest content.

export PS1='\[\033[1;30m\]┌╼ \[\033[1;32m\]\u@\h\[\033[1;30m\] ╾╼ \[\033[0;34m\]\w\[\033[0;36m\]\n\[\033[1;30m\]└╼ \[\033[1;37m\]'


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