August 2017

Bitcoin Mining: Easily Create Your Own Money

Bitcoin Mining: Easily Create Your Own Money

Bitcoin Mining is, in principle, nothing more than to equip your own computer with the function of a sheet music press. Only this does not print money but generates bitcoins. In principle, anyone can start with Bitcoin Mining, which has its own computer with internet connection. But to make sure the business with the money printing is really worth it, this should bring certain specifications with it.

Bitcoin mining generates so-called hashes, which form a block in a certain number. If such a block is completed, Bitcoin Miners are rewarded with Bitcoins. Currently, this reward is 50 bitcoins. This amount is halved once a total of 210,000 blocks have been generated. This is due to the fact that the maximum sum of Bitcoins is limited to 21 million. The more the current number of bitcoins approaches this sum, the less is the reward.

In order to run Bitcoin Mining, you need some programs, which create your own account with an address. Very important is the file wallet.dat, as this is so to speak your own purse and should be secured accordingly. A mining program is also required to start with the actual creation of bitcoins. There are several programs such as Phoenix, DiabloMiner or Guiminer.

Then the question arises whether you want to operate solo mining or pool mining. If you have an extra Bitcoin Mining optimized PC, you could try solo mining. Optimized in this case means that above all a high GPU performance must be present, since the creation of new hashes above all the graphics card. Otherwise, pool mining is recommended because the bundled computing power of several subscribers allows Bitcoins to be generated faster, which means that a continuous cash flow can be generated. In this case, the login is required for a pool.

Bitcoin Mining can be a lucrative matter for the user if the computer’s performance has been optimally optimized. Who wants to operate the mining professional, but need an appropriate computer with which can efficiently perform the calculations, so that electricity costs and revenue in an acceptable ratio to each other

Bitcoin - Hype Or The Future Of Paying

Bitcoin – Hype Or The Future Of Paying

The Bitcoin is a virtual currency developed by the Japanese Satoshi Nakamoto. Some online shopping portals offer the Bitcoin already as a payment option because the use of Bitcoins offers completely new possibilities for online dealers and customers.

A big advantage of the digital currency is that there are no fees for transactions. In addition, Bitcoin transactions are possible within a very short period of time, as the money is transferred to the relevant account of the recipient within a few seconds. In addition, state institutions, business enterprises or banks have no control over the Internet currency. Bitcoin users enjoy the same anonymity as when paying with cash. Accounts can no longer be frozen by payment service providers. The Bitcoin currency is managed via a peer-to-peer network and uses a strong encryption technology that ensures secure trading with bitcoins.

Many people place hopes in the electronic money Bitcoin. If you want to use Bitcoins, you have several possibilities to get the digital money. The fastest way is by exchanging Euro with the virtual money at a Bitcoin marketplace or a stock market. In addition, you can participate in the money creation by providing your PC to the peer-to-peer network. Retailers and online shops can also be paid for bitcoins for their products or services, just as private users can regulate occasional sales, such as used books, via bitcoins.

Whether fashion, electronic products, food or a variety of services – in fact, Bitcoin can be purchased via the Internet. However, there are still relatively few traders and online shops who accept bitcoins as payment means. Whether Bitcoin will be the money of the future can not be said with certainty. Since the use of virtual money is in the interests of the consumers due to free of charge, anonymity, and security, however, more and more Internet users of the currency give Bitcoin a chance.