Mining bitcoin
No, you don’t have to raise the ground to get bitcoin. Not in that sense anyway.
So, why do you call it mining? Similar to gold miners, bitcoin miners have to bring out the gold, in this case, bitcoin into the surface.
Did you dare to ask how? While paper money has a government, who prints and distributes it, Bitcoin has miners who use special software to solve math problems and are issued with bitcoin in exchange. This system is what makes the Bitcoin network go round.
Mining Bitcoin used to be relatively simple, and the earliest miners were able to mine thousands of Bitcoin using their home computers. However, in today’s very competitive and volatile market, miners buy expensive computer parts, that the high street customer has little access to, required for more processing power in order to mine more difficult algorithms. Since this is a race that can solve blocks faster, miners team up in what we call mining pools where they combine their processing power in order to solve each transaction first. The reward mostly comes from several miners’ fees, is then split up by members of the pool.
