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What is bit coin mining?


Mining is the name of a method of obtaining a cryptographic currency such as a bit coin. A mechanism in which bit coins are newly issued to those who helped calculate for additional recording of bit coin transaction records. The total amount of bit coins issued is 21 million Bitcoin by 2140, after which no new issuance will be made.


What is bit coin?


Bit coins are one of the virtual currencies. Currency not managed by state. It is managed to record currency transactions in the public distribution ledger called Block Chain. Transaction is a peer-to-peer type network, and users are exchanged directly. To purchase, purchase at virtual currency exchange or use mining.


What is a block chain?


Block chains are databases in distributed networks that have begun to be used in virtual currencies such as bit coins. When a transaction is made, the transaction is recorded in the block chain. That record is shared by all the block chain users. We manage it without going through a third party organization.