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Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
However, the more members are mining, the more competitive is gets. Computers are really good at solving these mathematical problems, so the Bitcoin Network purposely makes the solution more and more difficult, otherwise all of the bitcoins would be mined in a couple of minutes. This is why there are already many highly specialized hardware on the market, their only purpose being exclusively Bitcoin mining.
Update for customers sending Bitcoin From April 3 2017, we will begin charging a transaction fee for sending on-chain Bitcoin transactions. CoinJar will charge a >>more Mar-29-2017 03:22:02 PM
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World Corporation dividend! A new dividend has been send. +0.2926% profits for investors.All pending payments has been paid. Trading result : 3 wins/ 2 >>more Mar-29-2017 03:20:09 PM
DLB Global's movie first teaser 500000+ views crossed on YouTube. We are very thankful to you for your support and appreciation. we are gladly let you know that our DLB Film Production's >>more Mar-29-2017 03:18:33 PM
World Corporation dividend! A new dividend has been send. +0.2942% profits for investors. All pending payments has been send. Have a nice week end. >>more Mar-25-2017 05:02:32 PM
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