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How does BitCoin Mining work?
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<blockquote data-quote="nitrotix" data-source="post: 3401092" data-attributes="member: 928346"><p>New to the BitCoin economy. But I don't exactly understand the concept of it. </p><p>I understand that I need a computer to "mine" bit coins but why is a extremely powerful computer necessary to solve the "blocks"</p><p>Are the problems mathematical?</p><p></p><p>And what does a HASH measure or represent. I saw that some Bitcoins take over a year to mine on slow computers but what does that mean...?</p><p></p><p>I'm sure these are basic things but I can't seem to find a concise answer online. This new this idea seems fascinating and I want to get involved. Thanks any and all help is appreciated.</p></blockquote><p></p>
[QUOTE="nitrotix, post: 3401092, member: 928346"] New to the BitCoin economy. But I don't exactly understand the concept of it. I understand that I need a computer to "mine" bit coins but why is a extremely powerful computer necessary to solve the "blocks" Are the problems mathematical? And what does a HASH measure or represent. I saw that some Bitcoins take over a year to mine on slow computers but what does that mean...? I'm sure these are basic things but I can't seem to find a concise answer online. This new this idea seems fascinating and I want to get involved. Thanks any and all help is appreciated. [/QUOTE]
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