Bitcoin has opened up a new world to many people who have been looking for an alternative way to invest and make money. For those who might not know, Bitcoin is a digital currency. It operates using a distributed network in a decentralized fashion. This makes Bitcoin very different from
When it comes to Bitcoin, there is a lot that people still don’t know how it works. On the surface, Bitcoin can look like a chain of time-stamped blocks; however, it is much more than that. Everyone needs to understand how Bitcoin is a network because it will make the
There are a lot of people who are looking for ways to diversify their investments. One of the ways to do this is to target something called cryptocurrency. This is a virtual currency that exists in the digital world. It operates using a decentralized, distributed network that translates virtual currency
To become a successful cryptocurrency miner, you need to minimize running costs. Operating in cooler climates and areas with low utility costs are some of the practical ways to reduce the expenses. It comes as no surprise that many large-scale mining operations are active in regions with cooler climates and
Bitcoin uses a significant amount of energy to conduct mining. In fact, the amount of energy consumed for electricity is similar to all that the nation of Denmark uses. The question has become, is it a waste of electricity? Bitcoin uses energy that directly converts to money. Can any other
Those new to Bitcoin and mining Bitcoin may not realize how controversial energy consumption is within the financial community. Many media have falsely compared the amount of electricity needed to process a single VISA credit card transaction to Bitcoin transactions. The reasoning behind this is that every industry should do
When people think about Bitcoin, they often think about the proof-of-work, which is often shortened to PoW. Bitcoin PoW has been called many things, and one of the things that it is commonly called is wasteful. For those who are saying that Bitcoin PoW is wasteful and expensive, these terms
Hodling is a buy and hold strategy that is most useful in the context of cryptocurrency. HODL is simply a misspelling of the term hold, also a term that is very popular in the world of bitcoin and crypto. So, where did HODL come from? The Origin of HODL The term
Bitcoin is a type of digital currency that operates on a decentralized distributed network. In this manner, Bitcoin is not a fiat currency. Instead, it does not have a central arbiter, which makes it different from a traditional form of currency, such as the dollar or pound. Many people thought
So you heard the term hashing, but unless you have a background in computer science, you probably aren’t quite sure what that means. Let’s take a look at hashing in terms of cooking. When we hash something for example, like hash browns, we are chopping up potatoes and mixing them
