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What is Bitcoin Mining? Here's everything you need to know to start cranking out cash with your PC
Bitcoin is a new kind of virtual currency that exists only in the mysterious world of the Internet.
ng began investing in gold bars and silver coins. Many geeks also feared the apocalypse was nigh, but they chose to invest not in old-world currencies, but in a new currency created from scratch and made up of digital bits. That currency is Bitcoin.
What’s really interesting about this brand-new currency is that it’s mined through good old-fashioned hard work—by your PC though, not you. You simply run a program on your computer and eventually a virtual coin will appear.
your setup, the faster the coins will arrive, theoretically at least. It’s very similar to the SETI@home and Folding@home programs, in that it uses spare computing cycles to help churn through complicated equations, but this time the equations result in a payday for the person willing to devote the resources necessary to acquire them. Of course, it’s not quite that simple, and there are pitfalls and caveats, as always, so follow along while we take you on a brief tour of this brave new frontier. And if you become a virtual millionaire down the road, we want a finder’s fee.
