Knowledge

Bitcoin has an image problem. A portion of the public perceives Bitcoin as the preferred form of currency for criminals because they use the anonymity of cryptocurrencies for illegal money transfers. We all know prejudices are difficult to overcome, but one thing is clear: Bitcoin is more transparent than anything we’ve seen …

The term “mining” has become an integral part of terminology pertaining to both Bitcoin and cryptocurrency in general. The coining of the term introduced a concept from the mining industry into the IT world. The image portrayed here, however, describes the actual process rather inaccurately.