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[+]jxfaith0 points2 points2 points
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[–]jxfaith0 points
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To summarize, bit coin mining is the process of finding a cryptographically secure hash that encodes all pending transactions on the block chain. When such a hash is found, the miner is permitted to create an unsourced transaction (ie, create coins from nothing) and add it to a wallet of their choosing. The supply is only as finite as the technology, because an inability to create new hashes for the block chain will render the currency incapable of completing transactions.
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[–] jxfaith 0 points 2 points 2 points (+2|-0) ago (edited ago)
To summarize, bit coin mining is the process of finding a cryptographically secure hash that encodes all pending transactions on the block chain. When such a hash is found, the miner is permitted to create an unsourced transaction (ie, create coins from nothing) and add it to a wallet of their choosing. The supply is only as finite as the technology, because an inability to create new hashes for the block chain will render the currency incapable of completing transactions.
[–] Halstan ago
Thanks man!