Author Topic: Why Do We Mine Bitcoin?  (Read 138 times)


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Why Do We Mine Bitcoin?
« on: February 19, 2018, 01:13:55 pm »
Bitcoin mining is not unlike to real world mining in its purpose where you mine natural resources and minerals like gold, gas, oil or diamond. So in Bitcoin mining you mine a Bitcoin.
Bitcoin mining has 2 key purposes. Firstly, it helps the network to run as it validates the transactions between users on a Blockchain. Secondly, it it is the only way to create a Bitcoin which is pretty amazing as it gives the miners the authority and prestige to work over the greatest cryptocurrency in the world which is seen as a future mode of payment.