Genesis: The Creation Of Bitcoins
Created in 2009 by Satoshi NAKAMOTO. The network is created and the Genesis block is mined.
What are bitcoins ?
Bitcoin is online virtual currency. Can be easily transferred from one party to another.
İt is decentralized, it is not controlled by any institution or goverment
Using peer to peer system. Operation on a network of user based computers.
How are bitcoins created ?
Bitcoin mining: The process of verifying transactions conducted on the network using bitcoin mining software and hardware.
As a reward, Bitcoin miners receive Bitcoins for the work a new block is created around every 10 minutes. The currenct reward is 25 Bitcoins, this value halfs every four years until all Bitcoinare mined.
HOW DO I GET BITCOINS ?
Start by setting up a secured wallet to hold your coins then filled it up with 2 options.
Through the processs of Bitcoin mining. Not recommended for beginners
Through a trusted Bitcoin exchange. Where you can convert your fiat into Bitcoins.
