23 Jan '14, 5pm

@TigerDirect

Every transaction that takes place using bitcoins is recorded in a public ledger called the blockchain. Basically, the block chain is a history of all confirmed transactions and a record of how much each bitcoin wallet has. Think of it like an army of accountants constantly writing who has how much and who paid whom in a huge piece of paper for all to verify (the blockchain). The process called bitcoin mining confirms each of these transactions before it is saved into the blockchain. On a few occasions, a transaction is really a reward of several bitcoins. This reward is what gives bitcoin miners the incentive to mine. Because the process of searching for bitcoin takes a lot of effort for computers, it is has come to be called "mining".

Full article: http://www.TigerDirect.com/bitcoin/

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TigerDirect is not responsible for typographical or photographic errors. Prices and specifications are subject to change w...

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