Ok so from my knowledge I understand that miners can create new Bitcoins by utilizing processing power to complete complex mathematical calculations which rewards the miners with Bitcoins and adds new coins to the float? And I believe the new miners coins can only be able to be circulated if the miners use the Bitcoins to make a transaction?
Also, when someone buys a Bitcoin from someone else, who isn’t a miner, or simply pays for something with Bitcoin, my understanding is that a proof of work (POW) has to be completed in order for the blockchain to be settled and verified? But are miners also completing the POW for these P2P transactions and receiving a reward in Bitcoins for the POW as well?
Am I on the right track that complex mathematical calculations need to be performed to create new Bitcoins but also need to completed to verify transactions which also provides a reward of a Bitcoin? I guess my confusion stems from my understanding that miners could technically mine new Bitcoins but never sell them or use them to pay for anything, potentially leading to a hoarding of Bitcoins so that no coins circulate, causing a barrier to entry of new investors who aren’t miners.
I know I’m confused and missing something so set me straight friends of Crypto!
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