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Technical definition: Mining is the process of spending computation power to find valid blocks and thus create new Bitcoins. Technically speaking computing projects. They serve the purpose of securing the Bitcoin network, which is useful. Why would I want to mine for Bitcoins? Good question! 32 What is Bitcoin Mining?

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The currency itself is self-contained and un-collateraled, meaning that there is no precious metal behind the bitcoins; the value of each bitcoin resides within each bitcoin itself. Bitcoins are stewarded by 'miners', the massive network of people who contribute their personal computers to the Bitcoin network. Miners act as a