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- Bitcoin price in GBP, EUR and USD
- Bitcoin-Mining – that's how it is
The idea of a currency managed locally and internationally, and is valid, since its first launch in 2008 has found millions of followers. In the meantime, Bitcoin will be used for several years all over the world for Internet trading.
Independent bitcoin of cryptocurrency
The peculiarity is that no single government, institution or bank has managed virtual money. All transactions and even the creation of Bitcoins work on a decentralized basis via the computer network of all participants. Bitcoin Mining: a central role in registering and safeguarding transactions.
Since the owner of the computer that provides this service is paid in Bitcoin (which are partly created new, in part by the transaction fees), many see the Mining bitcoin as a way to earn money with little effort besides money.
Bitcoin Mining: faster, better … more expensive
As with true gold, the right equipment is a mining when Bitcoin Mining is critical to the success or failure of the Company. Simplify the extraction, the greater the success, the greater the computing power of the devices used.
Information on Bitcoin Mining
Transactions day and night in the world, where the Bitcoins will be paid. All these activities must be recorded and managed so that they can be subsequently understood. This is how the inside of the network, all in a certain period of time instead of the transactions found in a list are grouped together. This list is called Block.
the function of Bitcoin Mining confirms and virtual registration of all operations within a block. A confirmed block is transmitted in a virtual "accounting book", the so-called Blockchain.
to ensure the security of this important source, the transfer is in the Blockchain only after the encryption of the block in the form of a hash, ie a sequence of letters and numbers.
Bitcoin is a finished currency
Bitcoin Mining is the newly completed Blocks track, in hash to convert and hash the Blockchain to add. There is a prize: to be created when you create a new hash, new Bitcoins (from July 2016 is 12.5 per block) and from the other, the participant receives a portion of the transaction fees.
Because it is, in principle, for a Computer that is not difficult to create from a Hash Block, there is a risk that all the available Blocks will be converted as quickly as possible and then all Bitcoins will be dropped . Therefore, the network makes the hash of the blocks increasingly difficult. And here, technology comes into play.
Bitcoin Mining: a matter of equipment
To participate in the bitcoin network, it is sufficient to have, in addition to a conventional computer, a special software that allows you to connect the computer to the network. This software is called bitcoin client or bitcoin wallet ("portfolio"). It allows you to send and receive virtual currency and works similar to paying via PayPal.
For Bitcoin Mining, a high-performance hardware is also necessary, since the normal computing power of a computer is not sufficient to compete with the millions of computers worldwide. To do this, you need to upgrade, with an extremely good graphics card or with a special Bitcoin Miner. These devices are used via the USB port.
Bitcoin Mining in society: the pool
While some years ago it's still possible, it was not just mine, it's worth it. Even if your device creates thanks to the update, a valid number of values to generate hashes, the current costs for this computing power are enormous. Therefore, Bitcoin Mining is organized in the meantime by the so-called Mining Pools.
If you search the Internet for a pool of this type, you'll find it quickly. The principle of the pool is that users registered together with free computer services for the network. So it is better to reach the results of the block in the battle. The revenue from Bitcoin Mining will therefore be divided among all participants.
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