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Chances are you pay attention to the phrase “bitcoin mining” and your thoughts start to wander to the Western myth of pickaxes, dust and hanging it rich. As it turns out, that analogy isn’t too some distance off.
The end result of “bitcoin mining” is twofold. First, while computer systems resolve those complicated math issues at the Bitcoin community, they produce new bitcoin, now no longer in contrast to while a mining operation extracts gold from the ground. And second, with the aid of using fixing computational math issues, bitcoin miners make the Bitcoin price community truthful and secure, with the aid of using verifying its transaction statistics.