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Archive for the ‘Bitcoin’ Category

  • The Differences Between Litecoin and Bitcoin

    Last Updated: September 01, 2018

    Is Litecoin the same as Bitcoin? In a word, no. There are significant differences. However, there are similarities, and these are intentional. Because Litecoin was unknown when it launched in 2011, the similarities in the mining process and the distribution of blocks helped it place itself as a slightly different alternative to Bitcoin. It effectively […]

  • Is Bitcoin Mining Legal?

    Last Updated: August 29, 2018

    The quickest way to answer this is, yes, Bitcoin mining is legal. However, as is the case with many apparently simple answers, there is some necessary nuance to this response. Many countries say it is legal, and these include the United States, Canada, Brazil, Australia, and the countries in the European Union. It is important […]

  • How Much Electricity Does Bitcoin Mining Use?

    Last Updated: August 26, 2018

    Mining Bitcoin has become a fulltime job for some people. For others, they are limited to doing it as a hobby of hiring others to mine for them. If it was relatively easy, everyone would be doing it and making loads of cash. And in reality, the process of mining Bitcoin is fairly straightforward: You […]

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    How Many Bitcoins Exist Today?

    Last Updated: August 18, 2018

    Bitcoin, the red-hot cryptocurrency trend-maker, has climbed in value drastically over the last decade or so. So with Bitcoin mining operations opening up all over the world, how many Bitcoin have been mined thus far? The answer: 17 million. 17 Million Bitcoin Mined. What Does That Mean? There are only 21 million Bitcoin out there […]

  • How Does a Bitcoin Miner Work?

    Last Updated: August 15, 2018

    Part of the hesitancy of some people to accept Bitcoin stems from the elusive answer to what should be a very simple question: Where do Bitcoins come from? Did someone just write a program—like an app that’s money? If so, how does one acquire this digital money? Further, how does it even have real value? […]