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70NEWSJAPAN - Bitcoin is the most successful digital currency to date. It is a new form of crypto-currency in which encryption techniques are used to control the creation of new bitcoins and to verify transactions.
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Enthusiasts for bitcoin include Bill Gates, the founder and ex-CEO of Microsoft; Sir Richard Branson, founder of the Virgin Group; ex-US vice president Al Gore; and Eric Schmidt, former CEO of Google. “At our venture firm, we continue to see an escalating stream of fascinating new bitcoin uses, cases and applications from entrepreneurs,” says legendary venture capitalist Marc Andreessen.
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When bitcoin mining was still new, you could mine using an off-the-shelf computer. Now that there are a lot more people competing to mine, you need to spend more money for faster hardware. A cheaper alternative is to combine your computer power with other groups of bitcoin miners through mining pools like Slush’s Pool. Bitcoins mined are divided among the group in line with what has been contributed to the pool.
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