The Premium Unleaded crew kicks off summer with a summary of Memorial Day activities and a recap of the Monaco Grand Prix. Andrew returns from his honeymoon to find that Will has replaced him on staff, the crew once again talks Fernando Alonso in Indy Car and Rob joins an exclusive club. Stay tuned to learn how how Bitcoin works…kind of. Enjoy.
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Bitcoin is a currency you can trade person to person with phone applications, or buy with other currencies in Bitcoin exchanges, such as Mt Gox.
To mine more bitcoins, servers (which anyone can own) collect a bunch of pending Bitcoin transactions and use their computing power to “solve the equation” matching all the buy and sell orders. The server who solves this puzzle, or block, gets 25 bitcoins. There is a time limit on how often this can happen, and it also only happens if another block is waiting to be solved.