/biz/ - Business & Finance

>>9773959
First off; Crypto (starting with bitcoin) became capable of being a valuable digital asset class in the first place because it was the first digital currency that couldn't be counterfeited or hacked. It was able to achieve this through certain algorithms and distribution. It's legitimacy is maintained by people called "miners". These miners have a complete list of every transaction that has ever taken place and are paid in Bitcoin to add and verify new transactions while also verifying old ones (mining). Miners compete amongst each other for the opportunity to mine (verify) "blocks", which are basically digital ledgers, for a BTC (bitcoin) reward. They do this by playing a big stupid game of guess the magic number.

>>9496449
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