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Bitcoin Explained…everything you ever wanted to know about Bitcoin, along with a bit of mining too…


bitcoinexplained Bitcoin Explained...everything you ever wanted to know about Bitcoin, along with a bit of mining too...

So by now you’ve all heard about the Bitcoin revolution, disaster, revolution, disaster… and so on. Confused? Intrigued? Hardly surprising since the pundits seem to be equally split on whether it will end up being the biggest Ponzi scheme on the planet or the eventual savior of the financial system as a whole.

If you’re like us, it’s all rather distant and a bit too exotic to take in, we remember trying our hand at ‘mining‘ a few years back when the currency first surfaced, and found it to be a little too boring/useless to keep doing. Of course if we’d kept on doing it, we’d probably be zillionaires by now. Yeah right!

bitcoinexplained2 Bitcoin Explained...everything you ever wanted to know about Bitcoin, along with a bit of mining too...

Well now you can learn everything you ever wanted to know about Bitcoin on one simple page, and while you’re reading you can have your computer mine for some at the same time – although we’ll tell you up front that you’re not going to get any BCs from the exercise at all. Think of it like winning the lottery, only there’s no cash, no chance and no hope. Get it? Good.

Anyway, the article is a great way to get up to speed with all the technology behind it, as well as understand how it works and why you’ll probably never mine any of your own. Your best bet to get some is to accept it as currency for something you’re selling. Good luck with that.

Oh and here’s the ‘official’ video.

 Bitcoin Explained...everything you ever wanted to know about Bitcoin, along with a bit of mining too...

Nigel is the managing editor of the Red Ferret, as well as a freelance columnist for the Sunday Times newspaper in London. Loves tech and fancies himself as a bit of a futurist, but then don’t we all?

Nigel – who has written posts on The Red Ferret Journal.



  • Thorin

    Hmm.. Link?

    • http://www.redferret.net/ Nigel Powell

      D’oh, sorry. Now added.

      • Thorin

        Gracias. Been wanting to read up on the bitcoin phenomenon for awhile now.

        • http://www.redferret.net/ Nigel Powell

          Yeah, it’s pretty interesting actually. It’s amazing how someone could actually sit down and come up with an idea like this. Pretty mind blowing.

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