What is a bitcoin miner?

Within the bitcoin network there are a group of people which are called miners and their role is to process and confirm transactions. Anybody can apply to be a miner, and you could run the client yourself.

Why is bitcoin a game?

Because bitcoin in essence is truly a game that is run by these miners around the world. Within the bitcoin network there are a group of people which are called miners and their role is to process and confirm transactions. Anybody can apply to be a miner, and you could run the client yourself.

How do bitcoin mining fees work?

Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.

What is block reward bitcoin mining?

The Block Reward Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.