Quote from: sk8bo on February 09, 2014, 06:27:02 PM

What I do not understand is how the hell you could mine a currency. Everywhere I read that people mine BTC and they invest in improving their home PC stations in order to mine BTC faster. People share that they do BTC mining but nobody explains the process of mining. Who is paying you BTC in order to perform "mining" and why are you paid to do "mining".

And please, do not compare BTC mining with gold mining for example. You cannot create gold from thin air ...yet.

You need to read up on the basics of bitcoin. In my own words, mining is the process of validating transactions, and being paid a reward when you do so. It is not "creating money from thin air". It requires time and computational power to do. You could call it "minting" if you like. The difference is that bitcoins are minted at a steady, predictable rate -- whereas fiat currency can be controlled by banks.