Latest Insights from Simple Mining
What is Bitcoin Core? (And is it ruining Bitcoin?)
What is Bitcoin Core? Should Bitcoin nodes filter non-monetary transactions? Are Bitcoin Core developers misguided and leading Bitcoin down the wrong path? This article breaks it down.
The Relationship Between Bitcoin Price & Hashrate.
This article examines the relationship between the price of Bitcoin and hashrate. The implications of this relationship can heavily influence mining profitability.
How Will Tariffs Impact Bitcoin?
How will tariffs impact Bitcoin? What is a tariff? What is Triffin's Dilemma? This article breaks it down.
Still Want To Mine Bitcoin?
We get a lot of questions about the advantages of mining Bitcoin with us. “Mining with Company XYZ is cheaper. Why should you mine with Simple Mining?”
Does The U.S. Have a Debt Problem?
Debt ceilings, debt spirals, budget deficits, etc. Politicians are scrambling to deal with the looming debt problem. But what is REALLY going on behind the scenes?
Get Bitcoin at a Discount
What if you could turn cheap electricity into discounted Bitcoin? Mining effectively ignores the price action. When you plug in an ASIC, you’re no longer buying BTC at the sticker price; you’re producing it at your electricity rate. You get hard money at wholesale prices.
Mining vs MSTR
Mining vs MSTR vs Buying BTC: To understand which approach is the best, you need to have a benchmark (a ruler to measure with). We are trying to get more in BTC terms. “What actions can I take now that will return me the most Bitcoin 10 years from now?”
Mining vs MSTY
What is MSTY and how does it compare to hosted Bitcoin mining? This article explains the dividends and if it is a sustainable solution to income goals.
What is Stratum V2?
Bitcoin mining just took a massive step in pool development. For years, mining pools have been consolidating. Today, the top three pools “control” over 70% of Bitcoin's total hashrate. Until Stratum V2 Bitcoin Mining
The Future of Transaction Fees
What happens if the bitcoin “mempool” clears? The mempool is a holding area for transactions that have been broadcast to the network but have not yet been confirmed and included in a block.
What is the Bitcoin Power Law?
Is the Bitcoin Power Law special? Let’s take a step back and assess what a power law is. A power law is a relationship between variables where one quantity varies as a power of another.
Top Bitcoin Miner Hosting Solutions for 2025
As the world of Bitcoin mining continues to evolve, Bitcoin mining remains a crucial component of the Bitcoin network. For miners seeking efficiency and cost-effectiveness, selecting the right hosting solution is paramount.
The Ultimate Guide to Hosted Bitcoin Mining
Discover everything you need to know about hosted Bitcoin mining: profitability, how it works, and why Simple Mining provides reliable, profitable Bitcoin miner hosting.
Bitcoin Mining 101 - Bitcoin Fundamentals Podcast
Bitcoin Mining 101 makes the topic of Bitcoin mining simple. It's easy to overcomplicate it. This episode breaks down Bitcoin mining fundamentals, energy innovations, and advanced technologies like AI and quantum computing.
What is MicroStrategy? (VIDEO)
Struggling to understand MicroStrategy? This is the MicroStrategy playbook explained in 3 minutes.
What Are Bitcoin Capital Gains?
How you handle taxes can significantly impact your success as an investor. For some investors, maybe now is the time for you to start reaping the rewards of your low-time preference.
What is MicroStrategy?
What is MicroStrategy? Why do they buy Bitcoin? How does their business work? Read this article to find out.
Bitcoin Mining Evolution (VIDEO)
Why can't you mine Bitcoin on a PC anymore? Bitcoin mining machines have changed over the years. The trend may surprise you...
Bitcoin vs "Altcoins"
Bitcoin is the first digital currency to gain notable popularity. But how does it compare to other cryptocurrencies?
What Is KYC? (VIDEO)
What is KYC? What does it mean for Bitcoin? Watch this video to find out.
Price vs Hashrate
This article examines the relationship between the price of Bitcoin and hashrate. This relationship is key to understanding how to maximize profitability as a Bitcoin miner.
Bitcoin Dictionary
The Bitcoin community uses a lot of jargon. This dictionary/glossary provides clarity on various Bitcoin terms.
5 Reasons Bitcoin Mining Is Still Profitable (VIDEO)
Is Bitcoin mining still profitable. Here are 5 reasons why it is still profitable to mine in 2025.
What Is a Hash? (VIDEO)
What is a Bitcoin hash? Satoshi was a hash fanatic. Watch this video to learn what a hash is.
Does Bitcoin Mining Store Energy?
Does Bitcoin mining store energy? This article looks at the energy dynamics of Bitcoin mining, explaining how proof-of-work transforms energy into purchasing power without storing it like a battery.
When Is the Best Time to Buy a Miner?
Considering a mining investment as hashprice climbs? Discover how timing your entry based on hashprice trends could maximize your Bitcoin mining profits. Learn when to buy, why market timing matters, and how miner capitulation can be your opportunity.
Why Mine With Simple Mining? (VIDEO)
What are the advantages of mining Bitcoin with Simple Mining? Here are some ways we help clients mine Bitcoin profitably: 0:00 /2:12 1× Simple Mining helps our clients make Bitcoin mining effortless. Here's how: 1) No Long Term Commitments⏰ We do not lock clients in long-term contracts. Ours is a 12-month contract with the option to renew. 2) Transparent Energy Rates⚡️ Worried about rising energy rates? Should our energy rates increase for any r
Why Choose Hosted Bitcoin Mining? (VIDEO)
Why choose hosting to mine Bitcoin? What are the advantages? Watch this video to find out: 0:00 /1:27 1×
What Is a Bitcoin Node? (VIDEO)
What do Bitcoin nodes have to do with chess? Watch this video to find out: 0:00 /1:54 1×
Bitcoin vs Gold (VIDEO)
What is the best money? This video looks at the key differences between Bitcoin and Gold. 0:00 /1:45 1×
Miners vs Nodes
Is a Bitcoin miner a node? This article made me think the answer was yes, a Bitcoin miner is a full node. A Bitcoin miner is a node in theory but not in practice. Bitcoin was originally written so that CPU power from a personal computer could be used to extend the chain via proof of work (mining) based on signed transactions in the mempool and the existing confirmed blocks (full node). In other words, the original Bitcoin Core client was a full node, a wallet, and a miner. However, mining t
Does Bitcoin Consume Too Much Energy?
Some Bitcoin critics claim it wastes energy. Understanding whether this is a valid perspective depends on the definition of "waste" and the value attached to the energy used. Let’s dive into this question, explore why Bitcoin uses energy, and whether it's a wasteful practice or a valuable investment. 1. Why Does Bitcoin Use Energy? Bitcoin uses energy because it relies on a process called Proof of Work (PoW) to secure the network and validate transactions. This process requires a significan
What Is DATUM?
Bitcoin's decentralization is back on track with DATUM. Learn how this new system empowers miners to create their own block templates, solving centralization issues and enhancing censorship resistance in Bitcoin mining.
History of Bitcoin Mining
As mentioned in Miners vs Nodes, Bitcoin was originally mined using CPU power from a personal computer. The CPU is the central processing unit of a computer and is responsible for completing various tasks. From 2009-2010, CPU mining was feasible because the network's difficulty was low, and the competition was minimal. A CPU can process a few operations at a time, and in the early days, this was adequate technology for computing hashes and earning block rewards. This was until Laszlo Hanyecz
Is Bitcoin Mining Still Profitable in 2025?
It is. Let's break down five key reasons why. 1) Cheap electricity Simple Mining provides access to low electricity rates. Electricity makes up seventy-five to eighty-five percent of operational costs. If you have cheap electricity, you can mine Bitcoin profitably. 2) Energy-efficient mining hardware With the latest generation machines, you can remain competitive in harsh market conditions. Simple Mining currently has the S21 XP in stock. These machines are operating at thirteen point fiv
What if the Internet Goes Down?
0:00 /0:35 1× Bitcoin is currently being transacted using SMS (Short Message Service) technology in South Africa. This does not require internet access. (The service is currently custodial, but they are working to use SIM cards as private keys). If the internet were to go down in one region, the Bitcoin network would continue operating in other areas via nodes. Here is a map showing the geographic distribution of nodes: Alternate digital communic
Can I buy anything with Bitcoin?
Many Bitcoin critics claim you cannot buy anything with Bitcoin. These clips showcase this point (hard not to laugh at this)
Is the Bitcoin Supply Centralized?
Bitcoin supply ownership is not at all centralized. It is a distributed monetary base owned by individuals, businesses, entrepreneurs, corporations, investors, governments, and nations.
Will the Government Ban Bitcoin?
Banning Bitcoin does not work out well for authoritarian regimes. Just look at when China issued a ban on Bitcoin mining in 2021: The hashrate plummeted in the short term. In the long term? Hashrate hit an all-time high a year later as miners moved to more favorable jurisdictions. China lost out on all the innovation benefits that could have been reaped. This is game theory. Governments start to realize if they are not competing in the Bitcoin arms race, they are losing. Countries that em
Bitcoin 101 Checklist
The ultimate Bitcoin 101 checklist. Start with the Bitcoin fundamentals. These are the topics and concepts everything else is built upon.
What Is KYC?
KYC is short for Know Your Customer. It is a process that financial institutions, including Bitcoin exchanges and services, use to verify the identity of their customers. It helps them confirm that the person they’re dealing with is who they say they are, or "they know their customer". KYC is intended to prevent illegal activities like money laundering, fraud, and terrorism financing. Why Does KYC Matter for Bitcoin? Bitcoin was designed to be decentralized, meaning it allows people to tra
Gold vs Bitcoin
Is Bitcoin the superior monetary media to Gold? When it comes to storing purchasing power, gold has been the go-to asset for thousands of years. But how does it compare to Bitcoin? Understanding the differences between these two assets and their implications is of great importance for anyone looking to protect and grow their wealth. Why This Comparison Matters This comparison is important because it touches on the fundamental principles of what makes money valuable. Societies tend to conve
Which ASIC Should I Purchase?
Which Bitcoin mining machine is right for you? This article analyzes the costs and benefits of various capital strategies.
Will Bitcoin Be Replaced? (VIDEO)
Is Bitcoin easily replaceable? Will it remain competitive for decades to come? Watch this video to find out.
What is Bitcoin? (VIDEO)
Is Bitcoin money? Is it property? Is it a scam? Watch this video to find out.
Simple Mining Onboarding Guide
Who is Simple Mining? Simple Mining is here to help you mine Bitcoin profitably. We sell, host, and repair Bitcoin miners in Iowa. Iowa has many benefits for a Bitcoin mining operation: * Low cost of power * Low natural disaster rate * Accessible clean energy (Iowa generates the most wind energy of any state in the US from a percentage standpoint) * Cool temps in the summer Mining with Simple Mining also has many benefits: * In-house repair team * On-site staff & security 24/7 (We cu
What is a Cold Wallet?
A cold wallet is a type of wallet that is not connected to the internet. It provides a secure way to store, send, and receive Bitcoin easily offline. This article will explain what a cold wallet is and why it's important. What is a Cold Wallet? A cold wallet (cold storage) keeps your Bitcoin completely offline, away from any internet connection. This places the private key 100% in your hands. This also makes it nearly immune to hacking attempts, malware, and other online threats. Think o
What is a Hot Wallet?
A hot wallet is a type of cryptocurrency wallet that is connected to the internet. It allows users to store, send, and receive Bitcoin easily. This article will explain what a hot wallet is and why it is important. What is a Hot Wallet? A hot wallet is a digital tool that allows you to manage your Bitcoin holdings. Since it is always connected to the internet, it provides quick access to your funds, making it a convenient option for everyday use. Think of it like your regular wallet or pu
Hot Wallet vs Cold Wallet
Understanding the nuances of hot and cold wallet storage, especially in terms of custody and security, is key to achieving sovereignty as a Bitcoiner. Let’s dive into the specifics of each: Hot Wallets Access and Custody: When you use a hot wallet, the private keys are typically encrypted and stored on your device. However, the level of control you have over your keys can vary based on the wallet’s design. Some wallets provided by exchanges might have shared control where the exchange also
Does Bitcoin Use Too Much Electricity?
This article explores whether Bitcoin really uses "too much" electricity, why this topic is important, and what it means in the long run. What is Bitcoin’s Energy Consumption? As of January 2024, Bitcoin uses approximately 141-160 terawatt-hours (TWhs) of electricity annually. To put this in perspective, this is about the same amount of energy as some small countries. While this might seem like a lot, it's essential to understand the context of this consumption. Why Do People Think Bitc
Is Bitcoin For Criminals?
Bitcoin often gets a bad rap, with some people labeling it as the "currency of criminals." But is this reputation fair? Bitcoin is a digital currency that operates on a decentralized network, allowing for peer-to-peer transactions without a middleman, like a bank. Unlike cash, which is closed-source and private, Bitcoin is an open-source technology. This means that anyone can see its code and understand how it works. Why Do People Think Bitcoin is for Criminals? Some people believe that Bitc
What Backs Bitcoin?
Bitcoin is energy backed money. This is not a new idea, but rather the first fruition of the idea. Bitcoin is the world’s first decentralized, secure, scarce, permissionless, energy money. Nikola Tesla and Henry Ford imagined it 100+ years ago. Energy money, by design, uses energy. Lots of it. It’s called proof of work. It’s fundamentally opposite of proof of stake fiat currencies and cryptocurrencies. Many critics will say Bitcoin "isn't backed by anything" and "has no intrinsic value."
What is Hashprice?
0:00 /1:07 1× Hashprice is a key metric in the world of Bitcoin mining. It measures how much revenue a miner can earn for each unit of computational power, known as a hash. This article will explain what the hashprice is and why it is important. What is the Hashprice? Hashprice is the expected value a miner earns per unit of hashing power. A hash is a single calculation completed by a powerful mining machine. The hashrate is the rate at which has
How to Consolidate UTXOs
Don't know what a UTXO is? Check out this first: What is a UTXO? It is important to consolidate your UTXOs because if the fee for moving a UTXO is more than the UTXO itself, it effectively becomes unspendable or “stranded.” This means combining small UTXOs that may become unspendable in the future into larger UTXOs that are more immune to high fees. (BTC Sessions made a great video on this here) The optimal UTXO size depends on your total Bitcoin stack. Some people say a 1,000,000 sat UTXO
Will Bitcoin be Replaced?
Is Bitcoin unique? Is it possible for another monetary technology to rival, or even replace, Bitcoin? Bitcoin is the first decentralized digital currency and has the largest market share amongst "cryptocurrencies"(54% dominance). One common question that may come to mind is if Bitcoin will ever be replaced? This could have significant implications if so, as the value of Bitcoin would likely decrease due to the superior competitor. This question is essential not only for Bitcoin investors bu
What is a 51% Attack? (VIDEO)
Can Bitcoin be killed with a 51% attack on Bitcoin? Watch this video to find out.
What is Curtailment? (VIDEO)
Curtailment is essential in Bitcoin mining. What is curtailment? What does it mean for the future of the grid? Watch this video to find out.
Bitcoin Transaction Fees Explained
Each Bitcoin transaction includes a fee, which is paid to the miner as a tip to incentivize them to include your transaction in the next block. There is a demand to move Bitcoin on-chain, and data storage in a block is currently limited. This leads to competition for who can motivate miners the most. The higher the fee a miner can earn from including a transaction, the more likely they are to add it to the next block. This creates higher transaction fees over time as on-chain activity increa
Mine vs Buy Bitcoin
Which strategy returns more Bitcoin: Mining or Buying? There is never a simple answer to this question. But there is information that can help us make good strategy decisions.
Bitcoin Halving Breakdown
If you currently own or mine Bitcoin, you've probably heard of a significant event known as the "Bitcoin Halving." Sounds eerie and mysterious without a doubt... Here at Simple Mining, we want to make puzzled concepts like this one, simple. So simple you can read this and then go teach your friends and family about the notorious Bitcoin halving over dinner. First, let’s start out with what the Bitcoin halving is NOT: * It does NOT cut the number of bitcoins on the market in half. * It do
Bonus Depreciation for Bitcoin Miners
2024 Bonus Depreciation for Bitcoin Mining Companies. By Michael LaLuna, CPA and Partner at LaLuna, Cohen & Lampert, a NY Based Accounting Firm As the 2024 tax year approaches, it is important for Bitcoin mining companies to stay on top of tax strategies that can enhance their financial outcomes. One such strategy is leveraging bonus depreciation, a powerful tool for reducing taxable income. Here’s an in-depth look at how bonus depreciation works and how Bitcoin mining companies can util
What is the Difficulty Adjustment?
If more people mine Bitcoin, why don’t the remaining coins get mined at a faster rate? The answer is simple: the Difficulty Adjustment Algorithm.
Is Bitcoin Bad for the Environment?
In the 15 years since Bitcoin was created, significant material has surfaced regarding the detrimental aspect of Bitcoin mining on the environment. Is Bitcoin really bad for the environment? Critics argue that the energy consumption required for Bitcoin mining is excessive and harmful to the environment. However, a closer examination reveals a more nuanced picture. Bitcoin Energy Consumption vs. Other Industries Bitcoin mining, the process by which new bitcoins are created, and transaction
What is a 51% Attack?
0:00 /1:27 1× This article dives into the logistics of a 51% or majority attack. What is it exactly? Is it feasible? Who could accomplish it? How expensive would it be? If you misunderstand how attack vector threats like this work, you may fall trap to thought processing like the badger: What’s interesting is an attack was something carefully considered in the Bitcoin Whitepaper. The word “attack” is mentioned 25 times. Fun fact: the word “blockcha
What is Tax Loss Harvesting?
Maximizing Tax Benefits with Bitcoin: Leveraging Wash Sale Rules in 2024 By Michael LaLuna, CPA and Partner at LaLuna, Cohen & Lampert, a NY Based Accounting Firm Tax loss harvesting is a strategy used by investors to reduce tax liability by selling assets at a price point lower than the original purchase price. This approach allows investors to offset capital gains with their realized losses, potentially reducing the overall tax burden. As a Bitcoin mining company, it is essential to ke
What is a Mining Pool?
The Bitcoin network involves miners using the SHA-256 hashing algorithm(a method for generating a unique, fixed-size string of letters and numbers from any input data) to "win" a transaction block. This a computationally exhausting process as they need to find a mathematical “needle in a haystack.” With how difficult it is to find/mine blocks, miners decided to join mining pools. A mining pool is a collective group of miners who combine their computational resources to increase their chances
Why Mine With Simple Mining?
0:00 /1:19 1× Flexibility and efficiency are key to staying competitive and profitable as a Bitcoin miner. Simple Mining helps our clients make these keys effortless. Here's how: 1) No Long Term Commitments⏰ We do not lock clients in long-term contracts. Ours is a 12-month contract with the option to renew. 2) Transparent Energy Rates⚡️ Worried about rising energy rates? Should our energy rates increase for any reason(we have not increased our ho
What is Proof-of-Work?
Proof-of-Work (PoW) is a consensus mechanism used by Bitcoin to secure its network and validate transactions. It’s a fundamental to enforce the integrity Bitcoin's digital ledger. It is "proof" a miner has done the "work" it takes to authenticate transactions. Why is Proof-of-Work Important? Proof-of-Work is brilliant for the following reasons: 1. Security: It prevents malicious actors from taking control of the network. To alter the ledger, an attacker would need more computational power
What is A Bitcoin Wallet?
A Bitcoin wallet is a digital tool that allows you to store, send, and receive Bitcoin. Think of it as a digital version of a physical wallet, but instead of holding cash and cards, it holds your Bitcoin. It's a crucial part of using Bitcoin because it ensures that your Bitcoin is safe and accessible. Why is a Bitcoin Wallet Important? Understanding and using a Bitcoin wallet is essential for several reasons: 1. Security: Bitcoin wallets keep your Bitcoin safe from theft and unauthorized ac
What is Curtailment?
0:00 /1:13 1× The power grid is a system designed to balance electricity supply and demand in real-time. However, fluctuations in demand or supply can disrupt this balance, such as the intermittent consistency of renewable energy sources like wind and solar. To address these challenges, the concept of curtailment, particularly in Bitcoin mining, has presented a viable solution. Why is Curtailment Important? Curtailment is the cutting back on consum
What is a Bitcoin Node?
A node is the rule keeper of the Bitcoin network, maintaining its security, transparency, and distributed nature. A Bitcoin node is a computer that participates in the Bitcoin network by running the Bitcoin Core software. Different types of nodes exist, but they all contribute to verifying and achieving consensus for transactions across the network. Why Are Bitcoin Nodes Important? Understanding Bitcoin nodes is important because they form the foundation of the Bitcoin network. Here are sev
What is Proof-of-Work?
Proof-of-work (PoW) is a fundamental concept in blockchain technology, especially in the structure of Bitcoin. It's the mechanism that ensures the security and integrity of transactions on the blockchain. This article will explain what Proof-of-work is, why it is important, and how understanding it can benefit you. What is Proof-of-Work? Proof-of-work is a consensus mechanism used to validate transactions and add them to the blockchain. It involves solving complex mathematical problems tha
What is a Blockchain?
A blockchain is a digital database serving as a public ledger that records transactions. 💡Keep in mind many crypto assets use a blockchain, but the Bitcoin blockchain has the biggest and most secure proof-of-work chain. This article will look at the Bitcoin blockchain. Blockchain technology ensures a ledger's security, transparency, and decentralized nature. Here’s a simple and comprehensive explanation of the blockchain and how it works. Understanding the Basics Definition: A blockchain is
How Does a Bitcoin Transaction Work?
A Bitcoin transaction is a digital operation that transfers value from one person to another without any intermediary or middleman. It's a foundational aspect of the Bitcoin network, ensuring that bitcoins can move securely and efficiently between users. Here's a breakdown of a Bitcoin transaction and how it works: Basic Components of a Bitcoin Transaction Inputs and outputs are where it starts. Inputs: These are the sources of the bitcoins being sent. An input is essentially a reference to
What is a Hash?
(And I'm not talking about potatoes) I'm talking about a cryptographic hash that is Bitcoin's bread and butter. What’s a Bitcoin hash? Read on to clear up any uncertainty and see why hashing is like baking➡️ If you mine Bitcoin, the term “hash’ is everywhere. Hashrate, hashprice, TH/s, etc. There was even Hashcash, which inspired the creation of Bitcoin. Hash is important because it describes machine efficiency, profitability, and network security. You have likely heard the surface-l
What is a Satoshi?
A satoshi (or sat for short) is the smallest unit of a Bitcoin and is named after Bitcoin's mysterious creator, Satoshi Nakamoto. One Bitcoin (BTC) can be divided into 100 million satoshis, making each satoshi equal to 0.00000001 BTC. This feature of Bitcoin’s design allows for granularity and flexibility in transactions, accommodating both large and small amounts. Understanding Bitcoin’s Divisibility Bitcoin is often seen as a digital form of gold. Just like gold can be divided into smaller
What is a Bitcoin Halving?
If you own or mine Bitcoin, you've likely heard of the "Bitcoin Halving." While it might sound mysterious, we're here to make it simple. By the end of this, you'll easily explain it to your friends and family. What Bitcoin Halving is NOT: * It does NOT cut the number of bitcoins in the market in half. * It does NOT halve the price of a bitcoin. * It does NOT reduce Bitcoin transactions by half. What Does the Bitcoin Halving Do? The halving reduces the amount of bitcoin a “miner” can ear
What is a Bitcoin Miner?
A Bitcoin miner is a computer that helps keep the Bitcoin network running smoothly. These miners play a role in verifying transactions and securing the network. In return for their work, they are rewarded with new bitcoins. 0:00 /1:02 1× The Role of Bitcoin Miners Transaction Verification: When someone sends Bitcoin to another person, the transaction needs to be checked to make sure it's valid. Miners do this by solving complex math problems. Secu
How to Send and Recieve Bitcoin
Bitcoin is easy to send and receive. However, it is important to pay attention when transacting because if you are not careful, you can lose your bitcoins, and there is no Satoshi customer support to help you get them back. To receive Bitcoin, you must first have a public address on an exchange or wallet. A Bitcoin address will usually begin with a "1", "3", or "bc1" The address format has to do with how the transaction is processed. * Addresses starting with "1" use Legacy or Pay-to-Publi
How to Buy Bitcoin
There are only so many ways to obtain bitcoins. You can buy bitcoins from someone else, you can mine bitcoins, you can earn bitcoins, or you can steal bitcoins (highly discouraged). This will talk about how to buy them. There are several options to buy (and hopefully not sell) Bitcoin. 1) The most trivial and best for privacy would be an "in-person" exchange. This would be another person willing to accept cash, gold, a cow, or some other asset in exchange for sending bitcoins to an address
What is a UTXO?
0:00 /1:39 1× A UTXO has to do with a unit of Bitcoin and is a fancy acronym for Unspent TX(transaction) Output. Bitcoin does not operate like a digital bank account, where transactions are added or subtracted from your total balance. It behaves more like cash in your wallet. How so? Here is a quick example: Any amount of Bitcoin is a UTXO. If you buy a $75 steak with a $100 bill, you may receive $20 and $5 UTXOs in change. The $100 bill is the
What is an ASIC?
ASIC stands for "Application Specific Integrated Circuit". It is a circuit board that is designed for a specific purpose. It is unlike CPUs(Central Processing Units) and GPUs(Graphic Processing Units), which are what you would find in your average computer. These are designed to handle a variety of computational tasks. If CPUs and GPUs are jacks-of-all-trades, ASICs are the specialists. They are programmed to have laser focus on repetitive tasks. This is why Bitcoin miners use them. Bitcoi
What is Bitcoin?
0:00 /1:18 1× Bitcoin is a digital currency software that was created in 2008. The whitepaper (document outlining what something is) describes Bitcoin as a "A Peer-to-Peer Electronic Cash System." It is the first widespread decentralized digital currency. "Decentralized" just means that no bank or 3rd party is required to send and receive funds. Bitcoins can be sent anywhere in the world for a small transaction fee. The Bitcoin network is made up o
Who is Satoshi Nakamoto?
Satoshi Nakamoto is the pseudonym used by the creator of Bitcoin. (Think Spiderman to Peter Parker) Except nobody knows for sure who the person is behind the Satoshi mask. It could be a group of people. We do know for sure it is not Craig Wright after recent legal ruling (if you were on the fence about that) The first notable mention of Satoshi was when the whitepaper, "Bitcoin: A Peer-to-Peer Electronic Cash System' was published to a cryptography mailing list on October 31, 2008. (The mid
The Anatomy of a Bitcoin Transaction
This article covers the key basics of transacting on the Bitcoin network. Read on to get the rundown of how this impacts holders and miners alike.
Insights by Simple Mining
Who is Simple Mining? Simple Mining is a Bitcoin mining company out of Cedar Falls, Iowa. We sell, host, and repair Bitcoin miners. Simple Mining has Bitmain Certified techs on-site and a separate dedicated repair facility. All miners purchased through Simple Mining come with 12 months of free repairs and precision billing, so all downtime is credited back to you. Simple Mining Insights exists to make Bitcoin & Mining simple. We hope to provide insightful content and constant education to
What is Bitcoin Core? (And is it ruining Bitcoin?)
What is Bitcoin Core? Should Bitcoin nodes filter non-monetary transactions? Are Bitcoin Core developers misguided and leading Bitcoin down the wrong path? This article breaks it down.
The Relationship Between Bitcoin Price & Hashrate.
This article examines the relationship between the price of Bitcoin and hashrate. The implications of this relationship can heavily influence mining profitability.
How Will Tariffs Impact Bitcoin?
How will tariffs impact Bitcoin? What is a tariff? What is Triffin's Dilemma? This article breaks it down.
Still Want To Mine Bitcoin?
We get a lot of questions about the advantages of mining Bitcoin with us. “Mining with Company XYZ is cheaper. Why should you mine with Simple Mining?”
Does The U.S. Have a Debt Problem?
Debt ceilings, debt spirals, budget deficits, etc. Politicians are scrambling to deal with the looming debt problem. But what is REALLY going on behind the scenes?
Get Bitcoin at a Discount
What if you could turn cheap electricity into discounted Bitcoin? Mining effectively ignores the price action. When you plug in an ASIC, you’re no longer buying BTC at the sticker price; you’re producing it at your electricity rate. You get hard money at wholesale prices.
Mining vs MSTR
Mining vs MSTR vs Buying BTC: To understand which approach is the best, you need to have a benchmark (a ruler to measure with). We are trying to get more in BTC terms. “What actions can I take now that will return me the most Bitcoin 10 years from now?”
Mining vs MSTY
What is MSTY and how does it compare to hosted Bitcoin mining? This article explains the dividends and if it is a sustainable solution to income goals.
What is Stratum V2?
Bitcoin mining just took a massive step in pool development. For years, mining pools have been consolidating. Today, the top three pools “control” over 70% of Bitcoin's total hashrate. Until Stratum V2 Bitcoin Mining
The Future of Transaction Fees
What happens if the bitcoin “mempool” clears? The mempool is a holding area for transactions that have been broadcast to the network but have not yet been confirmed and included in a block.
What is the Bitcoin Power Law?
Is the Bitcoin Power Law special? Let’s take a step back and assess what a power law is. A power law is a relationship between variables where one quantity varies as a power of another.
Top Bitcoin Miner Hosting Solutions for 2025
As the world of Bitcoin mining continues to evolve, Bitcoin mining remains a crucial component of the Bitcoin network. For miners seeking efficiency and cost-effectiveness, selecting the right hosting solution is paramount.
The Ultimate Guide to Hosted Bitcoin Mining
Discover everything you need to know about hosted Bitcoin mining: profitability, how it works, and why Simple Mining provides reliable, profitable Bitcoin miner hosting.
Bitcoin Mining 101 - Bitcoin Fundamentals Podcast
Bitcoin Mining 101 makes the topic of Bitcoin mining simple. It's easy to overcomplicate it. This episode breaks down Bitcoin mining fundamentals, energy innovations, and advanced technologies like AI and quantum computing.
What is MicroStrategy? (VIDEO)
Struggling to understand MicroStrategy? This is the MicroStrategy playbook explained in 3 minutes.
What Are Bitcoin Capital Gains?
How you handle taxes can significantly impact your success as an investor. For some investors, maybe now is the time for you to start reaping the rewards of your low-time preference.
What is MicroStrategy?
What is MicroStrategy? Why do they buy Bitcoin? How does their business work? Read this article to find out.
Bitcoin Mining Evolution (VIDEO)
Why can't you mine Bitcoin on a PC anymore? Bitcoin mining machines have changed over the years. The trend may surprise you...
Bitcoin vs "Altcoins"
Bitcoin is the first digital currency to gain notable popularity. But how does it compare to other cryptocurrencies?
What Is KYC? (VIDEO)
What is KYC? What does it mean for Bitcoin? Watch this video to find out.
Price vs Hashrate
This article examines the relationship between the price of Bitcoin and hashrate. This relationship is key to understanding how to maximize profitability as a Bitcoin miner.
Bitcoin Dictionary
The Bitcoin community uses a lot of jargon. This dictionary/glossary provides clarity on various Bitcoin terms.
5 Reasons Bitcoin Mining Is Still Profitable (VIDEO)
Is Bitcoin mining still profitable. Here are 5 reasons why it is still profitable to mine in 2025.
What Is a Hash? (VIDEO)
What is a Bitcoin hash? Satoshi was a hash fanatic. Watch this video to learn what a hash is.
Does Bitcoin Mining Store Energy?
Does Bitcoin mining store energy? This article looks at the energy dynamics of Bitcoin mining, explaining how proof-of-work transforms energy into purchasing power without storing it like a battery.
When Is the Best Time to Buy a Miner?
Considering a mining investment as hashprice climbs? Discover how timing your entry based on hashprice trends could maximize your Bitcoin mining profits. Learn when to buy, why market timing matters, and how miner capitulation can be your opportunity.
Why Mine With Simple Mining? (VIDEO)
What are the advantages of mining Bitcoin with Simple Mining? Here are some ways we help clients mine Bitcoin profitably: 0:00 /2:12 1× Simple Mining helps our clients make Bitcoin mining effortless. Here's how: 1) No Long Term Commitments⏰ We do not lock clients in long-term contracts. Ours is a 12-month contract with the option to renew. 2) Transparent Energy Rates⚡️ Worried about rising energy rates? Should our energy rates increase for any r
Why Choose Hosted Bitcoin Mining? (VIDEO)
Why choose hosting to mine Bitcoin? What are the advantages? Watch this video to find out: 0:00 /1:27 1×
What Is a Bitcoin Node? (VIDEO)
What do Bitcoin nodes have to do with chess? Watch this video to find out: 0:00 /1:54 1×
Bitcoin vs Gold (VIDEO)
What is the best money? This video looks at the key differences between Bitcoin and Gold. 0:00 /1:45 1×
Miners vs Nodes
Is a Bitcoin miner a node? This article made me think the answer was yes, a Bitcoin miner is a full node. A Bitcoin miner is a node in theory but not in practice. Bitcoin was originally written so that CPU power from a personal computer could be used to extend the chain via proof of work (mining) based on signed transactions in the mempool and the existing confirmed blocks (full node). In other words, the original Bitcoin Core client was a full node, a wallet, and a miner. However, mining t
Does Bitcoin Consume Too Much Energy?
Some Bitcoin critics claim it wastes energy. Understanding whether this is a valid perspective depends on the definition of "waste" and the value attached to the energy used. Let’s dive into this question, explore why Bitcoin uses energy, and whether it's a wasteful practice or a valuable investment. 1. Why Does Bitcoin Use Energy? Bitcoin uses energy because it relies on a process called Proof of Work (PoW) to secure the network and validate transactions. This process requires a significan
What Is DATUM?
Bitcoin's decentralization is back on track with DATUM. Learn how this new system empowers miners to create their own block templates, solving centralization issues and enhancing censorship resistance in Bitcoin mining.
History of Bitcoin Mining
As mentioned in Miners vs Nodes, Bitcoin was originally mined using CPU power from a personal computer. The CPU is the central processing unit of a computer and is responsible for completing various tasks. From 2009-2010, CPU mining was feasible because the network's difficulty was low, and the competition was minimal. A CPU can process a few operations at a time, and in the early days, this was adequate technology for computing hashes and earning block rewards. This was until Laszlo Hanyecz
Is Bitcoin Mining Still Profitable in 2025?
It is. Let's break down five key reasons why. 1) Cheap electricity Simple Mining provides access to low electricity rates. Electricity makes up seventy-five to eighty-five percent of operational costs. If you have cheap electricity, you can mine Bitcoin profitably. 2) Energy-efficient mining hardware With the latest generation machines, you can remain competitive in harsh market conditions. Simple Mining currently has the S21 XP in stock. These machines are operating at thirteen point fiv
What if the Internet Goes Down?
0:00 /0:35 1× Bitcoin is currently being transacted using SMS (Short Message Service) technology in South Africa. This does not require internet access. (The service is currently custodial, but they are working to use SIM cards as private keys). If the internet were to go down in one region, the Bitcoin network would continue operating in other areas via nodes. Here is a map showing the geographic distribution of nodes: Alternate digital communic
Can I buy anything with Bitcoin?
Many Bitcoin critics claim you cannot buy anything with Bitcoin. These clips showcase this point (hard not to laugh at this)
Is the Bitcoin Supply Centralized?
Bitcoin supply ownership is not at all centralized. It is a distributed monetary base owned by individuals, businesses, entrepreneurs, corporations, investors, governments, and nations.
Will the Government Ban Bitcoin?
Banning Bitcoin does not work out well for authoritarian regimes. Just look at when China issued a ban on Bitcoin mining in 2021: The hashrate plummeted in the short term. In the long term? Hashrate hit an all-time high a year later as miners moved to more favorable jurisdictions. China lost out on all the innovation benefits that could have been reaped. This is game theory. Governments start to realize if they are not competing in the Bitcoin arms race, they are losing. Countries that em
Bitcoin 101 Checklist
The ultimate Bitcoin 101 checklist. Start with the Bitcoin fundamentals. These are the topics and concepts everything else is built upon.
What Is KYC?
KYC is short for Know Your Customer. It is a process that financial institutions, including Bitcoin exchanges and services, use to verify the identity of their customers. It helps them confirm that the person they’re dealing with is who they say they are, or "they know their customer". KYC is intended to prevent illegal activities like money laundering, fraud, and terrorism financing. Why Does KYC Matter for Bitcoin? Bitcoin was designed to be decentralized, meaning it allows people to tra
Gold vs Bitcoin
Is Bitcoin the superior monetary media to Gold? When it comes to storing purchasing power, gold has been the go-to asset for thousands of years. But how does it compare to Bitcoin? Understanding the differences between these two assets and their implications is of great importance for anyone looking to protect and grow their wealth. Why This Comparison Matters This comparison is important because it touches on the fundamental principles of what makes money valuable. Societies tend to conve
Which ASIC Should I Purchase?
Which Bitcoin mining machine is right for you? This article analyzes the costs and benefits of various capital strategies.
Will Bitcoin Be Replaced? (VIDEO)
Is Bitcoin easily replaceable? Will it remain competitive for decades to come? Watch this video to find out.
What is Bitcoin? (VIDEO)
Is Bitcoin money? Is it property? Is it a scam? Watch this video to find out.
Simple Mining Onboarding Guide
Who is Simple Mining? Simple Mining is here to help you mine Bitcoin profitably. We sell, host, and repair Bitcoin miners in Iowa. Iowa has many benefits for a Bitcoin mining operation: * Low cost of power * Low natural disaster rate * Accessible clean energy (Iowa generates the most wind energy of any state in the US from a percentage standpoint) * Cool temps in the summer Mining with Simple Mining also has many benefits: * In-house repair team * On-site staff & security 24/7 (We cu
What is a Cold Wallet?
A cold wallet is a type of wallet that is not connected to the internet. It provides a secure way to store, send, and receive Bitcoin easily offline. This article will explain what a cold wallet is and why it's important. What is a Cold Wallet? A cold wallet (cold storage) keeps your Bitcoin completely offline, away from any internet connection. This places the private key 100% in your hands. This also makes it nearly immune to hacking attempts, malware, and other online threats. Think o
What is a Hot Wallet?
A hot wallet is a type of cryptocurrency wallet that is connected to the internet. It allows users to store, send, and receive Bitcoin easily. This article will explain what a hot wallet is and why it is important. What is a Hot Wallet? A hot wallet is a digital tool that allows you to manage your Bitcoin holdings. Since it is always connected to the internet, it provides quick access to your funds, making it a convenient option for everyday use. Think of it like your regular wallet or pu
Hot Wallet vs Cold Wallet
Understanding the nuances of hot and cold wallet storage, especially in terms of custody and security, is key to achieving sovereignty as a Bitcoiner. Let’s dive into the specifics of each: Hot Wallets Access and Custody: When you use a hot wallet, the private keys are typically encrypted and stored on your device. However, the level of control you have over your keys can vary based on the wallet’s design. Some wallets provided by exchanges might have shared control where the exchange also
Does Bitcoin Use Too Much Electricity?
This article explores whether Bitcoin really uses "too much" electricity, why this topic is important, and what it means in the long run. What is Bitcoin’s Energy Consumption? As of January 2024, Bitcoin uses approximately 141-160 terawatt-hours (TWhs) of electricity annually. To put this in perspective, this is about the same amount of energy as some small countries. While this might seem like a lot, it's essential to understand the context of this consumption. Why Do People Think Bitc
Is Bitcoin For Criminals?
Bitcoin often gets a bad rap, with some people labeling it as the "currency of criminals." But is this reputation fair? Bitcoin is a digital currency that operates on a decentralized network, allowing for peer-to-peer transactions without a middleman, like a bank. Unlike cash, which is closed-source and private, Bitcoin is an open-source technology. This means that anyone can see its code and understand how it works. Why Do People Think Bitcoin is for Criminals? Some people believe that Bitc
What Backs Bitcoin?
Bitcoin is energy backed money. This is not a new idea, but rather the first fruition of the idea. Bitcoin is the world’s first decentralized, secure, scarce, permissionless, energy money. Nikola Tesla and Henry Ford imagined it 100+ years ago. Energy money, by design, uses energy. Lots of it. It’s called proof of work. It’s fundamentally opposite of proof of stake fiat currencies and cryptocurrencies. Many critics will say Bitcoin "isn't backed by anything" and "has no intrinsic value."
What is Hashprice?
0:00 /1:07 1× Hashprice is a key metric in the world of Bitcoin mining. It measures how much revenue a miner can earn for each unit of computational power, known as a hash. This article will explain what the hashprice is and why it is important. What is the Hashprice? Hashprice is the expected value a miner earns per unit of hashing power. A hash is a single calculation completed by a powerful mining machine. The hashrate is the rate at which has
How to Consolidate UTXOs
Don't know what a UTXO is? Check out this first: What is a UTXO? It is important to consolidate your UTXOs because if the fee for moving a UTXO is more than the UTXO itself, it effectively becomes unspendable or “stranded.” This means combining small UTXOs that may become unspendable in the future into larger UTXOs that are more immune to high fees. (BTC Sessions made a great video on this here) The optimal UTXO size depends on your total Bitcoin stack. Some people say a 1,000,000 sat UTXO
Will Bitcoin be Replaced?
Is Bitcoin unique? Is it possible for another monetary technology to rival, or even replace, Bitcoin? Bitcoin is the first decentralized digital currency and has the largest market share amongst "cryptocurrencies"(54% dominance). One common question that may come to mind is if Bitcoin will ever be replaced? This could have significant implications if so, as the value of Bitcoin would likely decrease due to the superior competitor. This question is essential not only for Bitcoin investors bu
What is a 51% Attack? (VIDEO)
Can Bitcoin be killed with a 51% attack on Bitcoin? Watch this video to find out.
What is Curtailment? (VIDEO)
Curtailment is essential in Bitcoin mining. What is curtailment? What does it mean for the future of the grid? Watch this video to find out.
Bitcoin Transaction Fees Explained
Each Bitcoin transaction includes a fee, which is paid to the miner as a tip to incentivize them to include your transaction in the next block. There is a demand to move Bitcoin on-chain, and data storage in a block is currently limited. This leads to competition for who can motivate miners the most. The higher the fee a miner can earn from including a transaction, the more likely they are to add it to the next block. This creates higher transaction fees over time as on-chain activity increa
Mine vs Buy Bitcoin
Which strategy returns more Bitcoin: Mining or Buying? There is never a simple answer to this question. But there is information that can help us make good strategy decisions.
Bitcoin Halving Breakdown
If you currently own or mine Bitcoin, you've probably heard of a significant event known as the "Bitcoin Halving." Sounds eerie and mysterious without a doubt... Here at Simple Mining, we want to make puzzled concepts like this one, simple. So simple you can read this and then go teach your friends and family about the notorious Bitcoin halving over dinner. First, let’s start out with what the Bitcoin halving is NOT: * It does NOT cut the number of bitcoins on the market in half. * It do
Bonus Depreciation for Bitcoin Miners
2024 Bonus Depreciation for Bitcoin Mining Companies. By Michael LaLuna, CPA and Partner at LaLuna, Cohen & Lampert, a NY Based Accounting Firm As the 2024 tax year approaches, it is important for Bitcoin mining companies to stay on top of tax strategies that can enhance their financial outcomes. One such strategy is leveraging bonus depreciation, a powerful tool for reducing taxable income. Here’s an in-depth look at how bonus depreciation works and how Bitcoin mining companies can util
What is the Difficulty Adjustment?
If more people mine Bitcoin, why don’t the remaining coins get mined at a faster rate? The answer is simple: the Difficulty Adjustment Algorithm.
Is Bitcoin Bad for the Environment?
In the 15 years since Bitcoin was created, significant material has surfaced regarding the detrimental aspect of Bitcoin mining on the environment. Is Bitcoin really bad for the environment? Critics argue that the energy consumption required for Bitcoin mining is excessive and harmful to the environment. However, a closer examination reveals a more nuanced picture. Bitcoin Energy Consumption vs. Other Industries Bitcoin mining, the process by which new bitcoins are created, and transaction
What is a 51% Attack?
0:00 /1:27 1× This article dives into the logistics of a 51% or majority attack. What is it exactly? Is it feasible? Who could accomplish it? How expensive would it be? If you misunderstand how attack vector threats like this work, you may fall trap to thought processing like the badger: What’s interesting is an attack was something carefully considered in the Bitcoin Whitepaper. The word “attack” is mentioned 25 times. Fun fact: the word “blockcha
What is Tax Loss Harvesting?
Maximizing Tax Benefits with Bitcoin: Leveraging Wash Sale Rules in 2024 By Michael LaLuna, CPA and Partner at LaLuna, Cohen & Lampert, a NY Based Accounting Firm Tax loss harvesting is a strategy used by investors to reduce tax liability by selling assets at a price point lower than the original purchase price. This approach allows investors to offset capital gains with their realized losses, potentially reducing the overall tax burden. As a Bitcoin mining company, it is essential to ke
What is a Mining Pool?
The Bitcoin network involves miners using the SHA-256 hashing algorithm(a method for generating a unique, fixed-size string of letters and numbers from any input data) to "win" a transaction block. This a computationally exhausting process as they need to find a mathematical “needle in a haystack.” With how difficult it is to find/mine blocks, miners decided to join mining pools. A mining pool is a collective group of miners who combine their computational resources to increase their chances
Why Mine With Simple Mining?
0:00 /1:19 1× Flexibility and efficiency are key to staying competitive and profitable as a Bitcoin miner. Simple Mining helps our clients make these keys effortless. Here's how: 1) No Long Term Commitments⏰ We do not lock clients in long-term contracts. Ours is a 12-month contract with the option to renew. 2) Transparent Energy Rates⚡️ Worried about rising energy rates? Should our energy rates increase for any reason(we have not increased our ho
What is Proof-of-Work?
Proof-of-Work (PoW) is a consensus mechanism used by Bitcoin to secure its network and validate transactions. It’s a fundamental to enforce the integrity Bitcoin's digital ledger. It is "proof" a miner has done the "work" it takes to authenticate transactions. Why is Proof-of-Work Important? Proof-of-Work is brilliant for the following reasons: 1. Security: It prevents malicious actors from taking control of the network. To alter the ledger, an attacker would need more computational power
What is A Bitcoin Wallet?
A Bitcoin wallet is a digital tool that allows you to store, send, and receive Bitcoin. Think of it as a digital version of a physical wallet, but instead of holding cash and cards, it holds your Bitcoin. It's a crucial part of using Bitcoin because it ensures that your Bitcoin is safe and accessible. Why is a Bitcoin Wallet Important? Understanding and using a Bitcoin wallet is essential for several reasons: 1. Security: Bitcoin wallets keep your Bitcoin safe from theft and unauthorized ac
What is Curtailment?
0:00 /1:13 1× The power grid is a system designed to balance electricity supply and demand in real-time. However, fluctuations in demand or supply can disrupt this balance, such as the intermittent consistency of renewable energy sources like wind and solar. To address these challenges, the concept of curtailment, particularly in Bitcoin mining, has presented a viable solution. Why is Curtailment Important? Curtailment is the cutting back on consum
What is a Bitcoin Node?
A node is the rule keeper of the Bitcoin network, maintaining its security, transparency, and distributed nature. A Bitcoin node is a computer that participates in the Bitcoin network by running the Bitcoin Core software. Different types of nodes exist, but they all contribute to verifying and achieving consensus for transactions across the network. Why Are Bitcoin Nodes Important? Understanding Bitcoin nodes is important because they form the foundation of the Bitcoin network. Here are sev
What is Proof-of-Work?
Proof-of-work (PoW) is a fundamental concept in blockchain technology, especially in the structure of Bitcoin. It's the mechanism that ensures the security and integrity of transactions on the blockchain. This article will explain what Proof-of-work is, why it is important, and how understanding it can benefit you. What is Proof-of-Work? Proof-of-work is a consensus mechanism used to validate transactions and add them to the blockchain. It involves solving complex mathematical problems tha
What is a Blockchain?
A blockchain is a digital database serving as a public ledger that records transactions. 💡Keep in mind many crypto assets use a blockchain, but the Bitcoin blockchain has the biggest and most secure proof-of-work chain. This article will look at the Bitcoin blockchain. Blockchain technology ensures a ledger's security, transparency, and decentralized nature. Here’s a simple and comprehensive explanation of the blockchain and how it works. Understanding the Basics Definition: A blockchain is
How Does a Bitcoin Transaction Work?
A Bitcoin transaction is a digital operation that transfers value from one person to another without any intermediary or middleman. It's a foundational aspect of the Bitcoin network, ensuring that bitcoins can move securely and efficiently between users. Here's a breakdown of a Bitcoin transaction and how it works: Basic Components of a Bitcoin Transaction Inputs and outputs are where it starts. Inputs: These are the sources of the bitcoins being sent. An input is essentially a reference to
What is a Hash?
(And I'm not talking about potatoes) I'm talking about a cryptographic hash that is Bitcoin's bread and butter. What’s a Bitcoin hash? Read on to clear up any uncertainty and see why hashing is like baking➡️ If you mine Bitcoin, the term “hash’ is everywhere. Hashrate, hashprice, TH/s, etc. There was even Hashcash, which inspired the creation of Bitcoin. Hash is important because it describes machine efficiency, profitability, and network security. You have likely heard the surface-l
What is a Satoshi?
A satoshi (or sat for short) is the smallest unit of a Bitcoin and is named after Bitcoin's mysterious creator, Satoshi Nakamoto. One Bitcoin (BTC) can be divided into 100 million satoshis, making each satoshi equal to 0.00000001 BTC. This feature of Bitcoin’s design allows for granularity and flexibility in transactions, accommodating both large and small amounts. Understanding Bitcoin’s Divisibility Bitcoin is often seen as a digital form of gold. Just like gold can be divided into smaller
What is a Bitcoin Halving?
If you own or mine Bitcoin, you've likely heard of the "Bitcoin Halving." While it might sound mysterious, we're here to make it simple. By the end of this, you'll easily explain it to your friends and family. What Bitcoin Halving is NOT: * It does NOT cut the number of bitcoins in the market in half. * It does NOT halve the price of a bitcoin. * It does NOT reduce Bitcoin transactions by half. What Does the Bitcoin Halving Do? The halving reduces the amount of bitcoin a “miner” can ear
What is a Bitcoin Miner?
A Bitcoin miner is a computer that helps keep the Bitcoin network running smoothly. These miners play a role in verifying transactions and securing the network. In return for their work, they are rewarded with new bitcoins. 0:00 /1:02 1× The Role of Bitcoin Miners Transaction Verification: When someone sends Bitcoin to another person, the transaction needs to be checked to make sure it's valid. Miners do this by solving complex math problems. Secu
How to Send and Recieve Bitcoin
Bitcoin is easy to send and receive. However, it is important to pay attention when transacting because if you are not careful, you can lose your bitcoins, and there is no Satoshi customer support to help you get them back. To receive Bitcoin, you must first have a public address on an exchange or wallet. A Bitcoin address will usually begin with a "1", "3", or "bc1" The address format has to do with how the transaction is processed. * Addresses starting with "1" use Legacy or Pay-to-Publi
How to Buy Bitcoin
There are only so many ways to obtain bitcoins. You can buy bitcoins from someone else, you can mine bitcoins, you can earn bitcoins, or you can steal bitcoins (highly discouraged). This will talk about how to buy them. There are several options to buy (and hopefully not sell) Bitcoin. 1) The most trivial and best for privacy would be an "in-person" exchange. This would be another person willing to accept cash, gold, a cow, or some other asset in exchange for sending bitcoins to an address
What is a UTXO?
0:00 /1:39 1× A UTXO has to do with a unit of Bitcoin and is a fancy acronym for Unspent TX(transaction) Output. Bitcoin does not operate like a digital bank account, where transactions are added or subtracted from your total balance. It behaves more like cash in your wallet. How so? Here is a quick example: Any amount of Bitcoin is a UTXO. If you buy a $75 steak with a $100 bill, you may receive $20 and $5 UTXOs in change. The $100 bill is the
What is an ASIC?
ASIC stands for "Application Specific Integrated Circuit". It is a circuit board that is designed for a specific purpose. It is unlike CPUs(Central Processing Units) and GPUs(Graphic Processing Units), which are what you would find in your average computer. These are designed to handle a variety of computational tasks. If CPUs and GPUs are jacks-of-all-trades, ASICs are the specialists. They are programmed to have laser focus on repetitive tasks. This is why Bitcoin miners use them. Bitcoi
What is Bitcoin?
0:00 /1:18 1× Bitcoin is a digital currency software that was created in 2008. The whitepaper (document outlining what something is) describes Bitcoin as a "A Peer-to-Peer Electronic Cash System." It is the first widespread decentralized digital currency. "Decentralized" just means that no bank or 3rd party is required to send and receive funds. Bitcoins can be sent anywhere in the world for a small transaction fee. The Bitcoin network is made up o
Who is Satoshi Nakamoto?
Satoshi Nakamoto is the pseudonym used by the creator of Bitcoin. (Think Spiderman to Peter Parker) Except nobody knows for sure who the person is behind the Satoshi mask. It could be a group of people. We do know for sure it is not Craig Wright after recent legal ruling (if you were on the fence about that) The first notable mention of Satoshi was when the whitepaper, "Bitcoin: A Peer-to-Peer Electronic Cash System' was published to a cryptography mailing list on October 31, 2008. (The mid
The Anatomy of a Bitcoin Transaction
This article covers the key basics of transacting on the Bitcoin network. Read on to get the rundown of how this impacts holders and miners alike.
Insights by Simple Mining
Who is Simple Mining? Simple Mining is a Bitcoin mining company out of Cedar Falls, Iowa. We sell, host, and repair Bitcoin miners. Simple Mining has Bitmain Certified techs on-site and a separate dedicated repair facility. All miners purchased through Simple Mining come with 12 months of free repairs and precision billing, so all downtime is credited back to you. Simple Mining Insights exists to make Bitcoin & Mining simple. We hope to provide insightful content and constant education to