I guess I'm ignorant and old school. If you can't hold it in your hand, like gold, silver and dollars, then you hold nothing........
“I guess I’m ignorant and old school. If you can’t hold it in your hand, like gold, silver and dollars, then you hold nothing........”
My largest holdings are my house and my ETN stock. I can’t hold either on in my hand.
“I’ve read countless articles on Bitcoin and mining, and I still have no understanding on what it is or how it is mined.”
Bitcoin generates a target hash consisting of alpha-numeric characters which a numeric value.
Generating hashes is easy but generating the hash you want is hard.
Miners must use the header of the block chain to solve for a hash less than the target hash. This is done buy interatively changine an allowed character. When they do and if they are the first, they have mined a Bitcoin.