I’m a dumb one when it comes to crypto and stock markets etc but how do you mine crypto? Like I get how gold silver and diamonds are mined but how is something mined out of nothing or that’s what I see it as
BTC is mined by the BTC node network verifying transactions. As the network grows and by design over time, the calculations get exponentially more difficult requiring more and more CPU/GPU calculation powered by carbon (electricity)
The result of all this stored energy is what "backs" BTC.
Don't forget, it's the only non-inflationary currency with a fixed supply.
Everything else is FUD (fear, uncertainty, and doubt)
Buy and hold as much as you can on a hardware wallet
I’m a dumb one when it comes to crypto and stock markets etc but how do you mine crypto? Like I get how gold silver and diamonds are mined but how is something mined out of nothing or that’s what I see it as
BTC is mined by the BTC node network verifying transactions. As the network grows and by design over time, the calculations get exponentially more difficult requiring more and more CPU/GPU calculation powered by carbon (electricity)
The result of all this stored energy is what "backs" BTC.
Don't forget, it's the only non-inflationary currency with a fixed supply.
Everything else is FUD (fear, uncertainty, and doubt)
Buy and hold as much as you can on a hardware wallet