Bitcoins are small blocks of data hidden in a huge amount of irrelevant data. To get Bitcoins, one has to take the entire chunk of data, rearrange it, and process it through a set algorithmic functions - in other words, 'hash' it - until the desired result is found.
HAHAHAHAHAHA!!!
No, that's not how it works. But how
would you describe the mining process to a non-geek?
Bangalore-based Bitcoin enthusiast Benson Samuel mined the currency using a botnet, or a network of computers that run applications.
Eh, usually a "botnet" consists of other peoples' computers, which you hacked to use them for yourself. Be careful they don't arrest you!
The low market capitalisation - around $1.5 billion on April 4, 2012
Heh, I'm still used to lower values. But it's true: it can and should be a lot higher.