A Bitcoin is a digital wallet where your money (coins) are kept in a safe case. Every latest bitcoin news transition has a unique identity which undoubtedly matches anyone.
How Bitcoins are obtained to oneself?
There are some special websites where one can afford a Bitcoins by purchasing them with your real currency. There are other ways to get Bitcoins, like transactions, mining.
Mining what’s that? Well, let’s look deep into the topic. While you do transactions the data is recorded as a blockchain with a logical password. If a person breaks a chain then he can access bitcoins. Just like digging, deeper the earth, you get mine. That’s why it’s called mining.
Is mining easy?
“The question sounds like digging easy with just a stick.” Coming to the mining, some special persons are called miners will solve the mathematical cum logical questions of these chained block and can access coins.
For this, they need high-speed processing computers with loads of internet accessibility and their equivalent consumption of power to the cost of bitcoin.
“That’s why digging for coal with a stick is not so easy.”
What can you state about the bitcoin market today?
In 2014, researchers of the University of Kentucky discovered “solid evidence that software programming enthusiasts and illegal activity motivates interest in bitcoin, and find less or absolutely no support for political or investment motives”. Researchers in Australian have calculated that more than 25% of bitcoin users and 44% of bitcoin deals are directly linked with criminal activities as of April 2017. There were a total 24 million bitcoin users who were basically using bitcoin for illegal activity. They had $8 billion worth of bitcoin, and had done 36 million transactions which amounted at $72 billion.