Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain.
Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
Bitcoin can be purchased on exchanges, or directly from other people via marketplaces. You can also earn them through mining.
The first bitcoin transaction took place on January 12, 2009, between Nakamoto and an early adopter of the currency. This transaction is often referred to as the “genesis block.”
Since the release of bitcoin, over 4 million bitcoins have been mined. As the price of bitcoin has increased, so has the value of mining rewards.
Mining is a computationally intensive process that requires powerful hardware. It is not possible to mine bitcoins on a regular computer; special purpose devices called ASICs are required.
ASICs are designed specifically for mining and offer significant performance advantages over CPUs and GPUs. They are also much more energy efficient.
There are several types of ASICs available on the market, each offering different performance and efficiency levels. The most popular type of ASIC is the Antminer S9, which is manufactured by Bitmain.
Bitmain also manufactures the Antminer T9+, which is another popular ASIC. Both devices offer similar performance levels and are popular among bitcoin miners.
In order to start mining bitcoins, you will need to purchase an ASIC and connect it to your computer. Once you have done this, you can download software that will allow you to start mining.
One popular piece of software is CGMiner, which is available for free from GitHub. Another popular option is BFGMiner, which is also available for free from GitHub.
Once you have installed your chosen software, you will need to configure it to connect to your ASIC device. After doing this, you will be able to start mining bitcoins!.