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BITCOIN Mining for the Newbie

BITCOIN MINING (Newbie) Bitcoin mining is a process used to secure and validate transaction from the wallet of one user to another. This validation occurs in a decentralized network. The receiver can only receive the bitcoin if the sender transaction is validated. Validation is in the form of mathematical computation which the mining equipment performs and receives some bitcoins fom performing the operation kind of like the service charge as in Money exchange companies. Since its decentralized it goes through many systems in the Blockchain network to verify the transaction, so if one system is hacked the other systems in the Blockchain will verify it, unlike the centralized banking system. Mining can be done by any computational device, but only the devices that have good computational speeds can validate a transaction faster. Mining speed depends on the Hash-rate or Hash-power which varies from system to system.  The Space where mining is done is...
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How is BITCOIN Sent and Received

BITCOIN SENT and RECEIVED  [HoW] (Newbie) What Happens when bitcoin is sent and how is it received?  How does a Bitcoin transaction occur?  What are the processes involved in a BTC transaction? In Simple Terms sending to receiving Bitcoin is composed of 3 parts   Signing: When the sender sends bitcoin the wallet creates a transaction message containing information of the sender and the amount to be sent. This message is encrypted in   the form of a digital signature which is different for different transaction. This message is now encoded in a file and ready for the next step. Broadcasting: The encoded file is now sent to other computers that hold a copy of the block chain, this is know as a node . Each node gets a copy of this file and verifies the file and passed on to other nodes that repeat this process. By this way the bicoin amount is broadcasted in th...
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