What is Bitcoin Mining? Here's everything you need to know to start cranking out cash with your PC
Bitcoin is a new kind of virtual currency that exists only in the mysterious world of the Internet. It sprang up after the financial crisis of 2008, when people fearing that the sky was falling began investing in gold bars and silver coins. Many geeks also feared the apocalypse was nigh, but they chose to invest not in old-world currencies, but in a new currency created from scratch and made up of digital bits. That currency is Bitcoin.
Note: This article was originally featured in the October 2013 issue of the magazine
A rescue effort is currently underway to drill through 2,300 feet of dirt and rock to extract 33 Chilean miners trapped below the surface of the earth. The miners have been stuck underground since August 5, and in a worst case scenario, it could take up to three or four months to get them out.
In the meantime, supplies are being snaked through a four-inch wide tube, things like shampoo, hot-weather clothes that help remove sweat, aluminum bed frames, food, lots of water water, and Sony PSPs.
That's right, Sony PSPs are being shuttled to the trapped miners, who are forced to cope with the mental hell that comes from being confined in a dark and dungy area below the earth with no restrooms. Other items being whisked down the rescue shaft include flashlights, playing cards, MP3 players, mini-TV projector, recorded soccer games, and possibly a cable to provide electrical power, which sure would make charging those PSPs a heckuva lot easier.
"We have to make sure the miners are physically and psychologically fit," said Minister of Health Jaime Manalich. "If they lose their mental balance, it could create panic and violence down there, and that would be a huge catastrophe."