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What is The Electronic Mining and How to Earn Money from Bitcoin

Bitcoin and Electronic mining; the topics which started to trend right now and very soon it will be the most trending topic all over world. Let’s start to understand more about electronic mining

 

What is the mining?

Before starting to explain the mining of electronic currency and how it works and the tools used for mining Bitcoin or the other currency like Ethrium for example, let’s start with the most common question, electronic currency or digital currency, like Ethrium coin and Bitcoin, these currencies are an open-source and encrypted, electronic currencies created in 2009, almost Eight years ago, and its origin of these Japanese currencies is a Japanese group called Satoshi Nakamoto. Actually it is un-known person or group who created it.

 

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The history of the creation of electronic currencies:

 

The goal of creating electronic currencies from the beginning  was to create a digital currency can be used by anyone away from the control of the policies of countries in general at the exchange rate or to rely on the economy of a particular state whatever and be controlled market value freely according to the proportion of real circulation and not on any other basis, without the intervention of any governments or control in any form of any state or official bodies, the market value is determined according to circulation by users only. This is an advantage that is not present in any other paper currency in the world. The most advantage of electronic currencies is that it is not traceable from any point of view. In fact these currencies are a double-edged sword, on one hand is considered the entrance to anyone who directly begs him for illegal acts either on the Internet or real life, on the other hand is a very powerful feature for anyone who wants to trade freely or follow their “business” without tracking or monitoring. In contrast, common paper currencies can be traced to any purchase or sale that is valued by almost all parties.

 

How it Works?

 

 

The method of trading electronic currencies of different types are through blocks or boxes and each block has a special number which is not repeated. Each block of these blocks within the number of transactions that were carried out using electronic process as the currency of Bitcoin, and each process has its own number, code and data. In this case if someone wants to deceive or lie about the number of electronic currencies you can calculate to be sure before dealing with it basically.

 

How Can I Mine Bitcoin or other currency?

Bitcoin

Electronic mining is very simple that users take advantage of the power of their PC to prove that these blocks above are working correctly without any manipulation and of course they need a huge number of computers globally to earn suitable money.

 

 

About Mohamed Gawad

Social Media blogger and Researcher

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