Bit coin is a peer to peer transaction system created last year that uses trades to be, conducted by a digital money, the bit coin. Unlike monies given by states, Bit Coin is completely electronic and is separate of any state or market, without ties to some monetary authority, corporation, or business.
ELI5: What is a bitcoin block and how does mining generate bitcoins?
I find the whole idea of bitcoins nonsensical. As far as I understand you use your computing power and your machine solves algorithms and if you hit a block ta da you get 50 bitcoins. (You do this in a group) What kind of algorithms does your computer solve? Can't you actually write code to optimize it and make it run faster? What is a block? And why does letting your computer on all the time mining bitcoins generate money? Isn't this different than the world in which we live in where money is exchange of labor or value. Enlighten me redditors.
Money Man is a rapper from Georgia who bought bitcoin in 2013, sold at its height and reinvested in BTC, LTC, ETH, and POT in the bear market. He might have to change his name to "Generational Wealth Man"!
Bitcoin mentioned around Reddit: How did spices generate insane amounts of money for European empires when they were just a luxury item used on food, and not something essential like oil and gas are today? /r/AskHistorians
[Serious] What's stopping a company or companies from using their already established servers from getting into bitcoin mining and over-running the home users to basically generate "free money" for the company?
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