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Where do Bitcoins come from?
Bitcoins are not associated with any state. New units of Bitcoin appear in the process of how computers in this payment network serve the needs of the same network.
- For example, somewhere in China a person paid for pizza using bitcoins.
- This operation should be written into the registers on all computers that are connected to the Bitcoin network.
- To write an operation to the register, you need to print it with a special signature.
- This signature needs to be calculated, it is a complex computer task.
Somewhere in Venezuela there is a computer that serves the bitcoin network. It just figured out this cryptographic signature. As a token of gratitude, the owner of this computer receives a reward in the form of Bitcoins.
For a Venezuelan who put the computer in the cryptographic signatures calculation mode, the computer seems to be producing bitcoins, although in fact it simply encrypts and imprints other people’s operations. This is called mining.
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