Bitcoin mining can become increasingly difficult as more Bitcoins enter circulation. This means it will take less of your computer’s resources to mine Bitcoins over time and pay less if you start mining coins today.
Many Bitcoin miners have joined together into pools in which they share the reward based on their processing contribution to solving a block. This way, smaller miners have a better chance to get a bonus from mining.
Bitcoins are stored in virtual wallets in the cloud or on a user’s computer. These wallets contain private keys, public keys, and a client seed used to sign transactions. You can make wallet backups yourself or have them created for you by a third-party online wallet service.
Another way of obtaining Bitcoins apart from buying them is through a process known as Bitcoin mining, where your hardware generates new coins for you over time. Mining isn’t an easy process, though, so I wouldn’t recommend it if you’re new to digital currency.
The value of Bitcoin varies between different types of exchanges, which often sell them at different rates. Some people may want to only accept Bitcoins for their goods and services, while others want to trade them. The fluctuating exchange rate is why I don’t recommend latching onto anyone’s currency at this time but rather buying a variety of items with whatever form of payment you choose.
It isn’t known who Satoshi Nakamoto is or whether he exists or not. Multiple candidates could be the natural person behind the name, but one has been confirmed as his identity. However, some early adopters seem like good candidates, but still, nobody’s sure.
In conclusion, Bitcoins have been around for a few years now, but many people haven’t accepted them as a legitimate currency.