Trump: "Bitcoin will be made in USA"
(twitter.com)
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I do not understand bitcoin. there is only a set quantity of bitcoin, yet people can mine more? from the ether of the interwebz?
I don't know a bunch of info about it, but from what I hear from Bitcoin maxi's is that it's an asset and not a currency.
I get that part. but how can you mine more when there is only a finite quantity? and that quantity is already distributed.
not even I fully grasp it, but you cannot think of it like digging in the dirt for gold chunks. Mining is everyone verifying the public ledger, and getting a small prize for helping hash the numbers.
Or that the total amount of BTC are "already distributed". Because they aren't.
People are also LOSING access to their coins (people throwing out hard drives with wallets, forgotten passwords, deaths with nobody knowing about them etc) so they are getting more and more rare as they disappear forever when lost (you cannot "re-find" a bitcoin, once its lost its gone forever).
Its a lot to learn about, and I still don't have it down fully.