Bitcoin (BTC) Surpasses 101,000 USDT with a 3.76% Increase in 24 Hours
According to Binance Market Data, Bitcoin (BTC) crossed the 101,000 USDT benchmark and is now trading at 101,029.40625 USDT, with a 3.76% increase in 24 hours. $BTC

Bitcoin (BTC) Surpasses 101,000 USDT with a 3.76% Increase in 24 Hours
According to Binance Market Data, Bitcoin (BTC) crossed the 101,000 USDT benchmark and is now trading at 101,029.40625 USDT, with a 3.76% increase in 24 hours. #BTCReclaims101K

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How To Buy Bitcoin

If you don't want to mine bitcoin, you can buy it using a cryptocurrency exchange. Most people will be unable to purchase an entire BTC because of its price, but you can buy portions of one BTC on these exchanges in fiat currency, such as U.S. dollars.

2. If you have the financial means, you could purchase an ASIC miner. You can generally find a new one for around $10,000, but used ones are also sold by miners as they upgrade their systems. There are some significant costs, such as electricity and cooling, to consider if you purchase one or more ASICs. Keep in mind using one or two ASICs is still no guarantee of rewards as you're competing with businesses with large mining farms of tens, if not hundreds, of thousands of ASICs. For example, bitcoin mining firm CleanSpark ordered 100,000 ASICs from Bitmain in April 2024

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Options for Successful Mining

There are two hardware options available for Bitcoin mining and several software options.

1. You can use your existing computer and mining software compatible with Bitcoin software and join a mining pool. Mining pools are groups of miners that combine their computational power to compete with large ASIC mining farms.

There are many mining programs to choose from and pools you can join. Two of the most well-known programs are CGMiner and BFGMiner. Some of the most popular pools are Foundry Digital, Antpool, F2Pool, ViaBTC, and Binance.com.

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Encryption

Bitcoin uses the SHA-256 hashing algorithm to encrypt (hash) the data stored in the blocks on the blockchain. Simply put, transaction data stored in a block is encrypted into a 256-bit (64-digit) hexadecimal number. That number contains all the transaction data and information linked to the blocks before that block.

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Bitcoin's Blockchain Technology

Bitcoin as a form of digital currency isn't hard to understand. For example, if you own a bitcoin, you can use your cryptocurrency wallet to send smaller portions of that bitcoin as payment for goods or services. By contrast, the way Bitcoin actually works is very complex.

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Rewards

Bitcoin rewards are halved every 210,000 blocks. For example, the block reward was 50 new bitcoins in 2009. On May 11, 2020, the third halving occurred, bringing the reward for each block down to 6.25 bitcoins. The fourth halving occurred in April 2024 and lowered the reward to 3.125 bitcoins. The next halving should happen in mid-2028 and reduce the reward to 1.5625 BTC.

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First Block

On Jan. 3, 2009, the first Bitcoin block was mined. Called Block 0, it is also known as the genesis block and contains the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," perhaps proof that the block was mined on or after that date

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