I have some questions that have to do with how new blocks are created and how the total number of bitcoins is ultimately limited to 21 million. I vaguely understand that new blocks are created through "solving a cryptographic problem" and that this takes an immense amount of computing power. But what I don't understand is what the cryptographic problem they solve is or how it was made part of the blockchain.
Wow, you don't ask for much, do you. This is a huge topic. Please start by reading the whitepaper...
http://bitcoin.org/bitcoin.pdfAnd come back with more specific questions....
Thanks for the link - I'll check out the white paper.