Tag: cryptocurrency


Bitcoin: Cybernetic mining

Bitcoin is an electronic currency similar to the Euro or the Dollar or any currency, Its biggest difference compared to other currencies, it is a decentralized currency, so nobody controls it. Bitcoin does not have a central issuer like the dollars or the euros, the cryptocurrency is produced by the people and companies from around the world dedicating a lot of resources to the Bitcoin mining.

When we refer to the term mining, we are not talking about bulldozers and workers in a quarry, although it refers to the mining of gold, Bitcoins mining is about running a program on your computer that helps to verify Bitcoin transactions by including them in a registry unalterable.

In this way, it is possible to introduce new Bitcoins to the market in a predictable way until one day reaches the maximum limit of 21 million. In addition, the difficulty of mining Bitcoins is self-regulated so that it is only possible to find new Bitcoins every 10 minutes. If we do not have a very powerful computer equipment, mining Bitcoins is practically useless and unprofitable.


Bitcoin goes bullish

Cryptocurrencies are hot commodities again, and Bitcoin is leading the charge. According to CoinDesk.com, Bitcoin reached an all-time high of $2,061.88 as recent as May 21, 2017. That is an increase of...