Bitcoin has become the 21st century unicorn. The rage behind bitcoins continues to increase and has no end to it. Bitcoin is the oldest crypto currency. Bitcoin is a digitalized and unsecured modern currency. That means there is no regulatory body monitoring the flow and transaction of bitcoins. Purchasing or selling bitcoin is all based on trust as there is no regulatory body over it. Bitcoin mining is about producing bitcoin and earning bitcoin as a form of payment for creating bitcoin. Bitcoins can be mined using mining equipment installed in your computer. You can buy ASIC miner to generate bitcoin. Application specific integrated circuit is build for miming bitcoins only. Depending upon your budget, you can also purchase high quality and powerful ASIC miner to create your own hub of mining crypto currency. The miners help in breaking the complexity of the algorithmic blocks. Information of every bitcoin is recorded in virtual ledger.
Bitcoins in the coming generation
With the increasing usage, bitcoins and other crypto currencies have become a little stable instead of highly volatile. There’s a high chance that it can be a new norm of currency in coming generation. The crypto currency has a wide appeal from technology savvy persons. The number of transactions happening through bitcoin and other crypto currency are increasing day by day. The only drawback of bitcoin is anonymity of transaction and no regulatory authority over it. Once these two drawbacks are overcome, bitcoin will become the widely accepted modern form of currency. The value of bit coins depends upon demand and supply of money.