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Whenever Bitcoin transactions are processed on the Bitcoin network — that means Bitcoin is moved from one person to another — someone has to make sure all the transactions are recorded properly and that the ledgers on all the systems are synchronized all over the world. In the case of Bitcoin, this process is not done by people or companies, but by thousands of computers all over the world that are all connected to the internet.
To do this processing in a very secure way, these computers need to perform very complicated calculations that how to buy a bitcoin miner a lot of computing power, and in turn, require a lot of energy and expensive and specialised processing equipment.
Someone - the owner of the computers - needs to pay for all this equipment and electricity, so they need to be compensated for all the money and effort they are putting into making this network work. They earn this compensation through newly minted Bitcoin - so in short all new Bitcoin that is created how to buy a bitcoin miner as a reward and incentive mechanism for people to contribute their computers to the system to help process transactions.
Next What are Bitcoin private keys? The basics of a financial revolution. Where did Bitcoin come from? The origins of a trustless system. Bitcoin as a payment system Advantages for consumers and merchants. Bitcoin as digital gold A new digital asset class to consider. Bitcoin as the internet Global, open to all for innovation and use. How do I get Bitcoin? Learn about earning, trading, buying and mining. How is the price of Bitcoin calculated? A primer how to buy a bitcoin miner supply and demand.
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What are the risks with Ethereum?