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Getting into the world of bitcoin is exciting, but can also be a little confusing. Do you think you have what it takes to become a bitcoin miner? Are you looking at buying a USB Bitcoin Miner? Maybe you’re drawn to some of the things you’ve heard about Bitcoin– how it may be the currency of the future. Maybe you’ve heard of how versatile and simple it is to use and exchange. We live in an age where you can take out your smartphone and send 10 different amounts of Bitcoin to 10 different people, in 10 different countries, in less than 10 minutes.
And you can do it from your smartphone, in your pajamas with a cup of tea. Plus convert to their own local currency. And then the money would be in escrow for a few days. But again, with Bitcoin: 10 minutes, smartphone, pajamas, tea. Behind the hard work and digital heavy lifting of bitcoin miners. What is a Bitcoin Miner? In the old, old days before we started to print money, jewels and medals were the currency we exchanged.
Miners would be the ones going into the mines and unearthing these precious stones and metals so they could be put into the economy. And for their trouble, these miners would often get rewarded with a bit of currency themselves. That’s pretty much the model of the Bitcoin miner. Only, they’re not using a pickaxe, they’re using a specialized software, or hardware like a USB Bitcoin Miner.
They go out on the web and solve incredibly complex math problems to mine the Bitcoin currency, and when they succeed, they’re rewarded with Bitcoin payments for their hard work. Now, they also earn money another way: by monitoring and approving Bitcoin transactions. They approve or deny a transaction, with an eye out for fraudulent deals. And if the deal is approved, they get a piece of the action for their effort.