Bitcoin Tsunami

One of the fundamental questions many people have about Bitcoin revolves around the tokens themselves. Questions about its value, security and history, all eventually lead to one place: Where do bitcoins come from? While traditional money is created through (central) banks, bitcoins are “mined” by Bitcoin miners: network participants that perform extra tasks. Specifically, they chronologically order transactions by including them in the Bitcoin blocks they find. This prevents a user from spending the same bitcoin twice; it solves the “double spend” problem. Skipping over the technical details, finding a block most closely resembles a type of network lottery. For each attempt to try and find a new block, which is basically a random guess for a lucky number, a miner has to spend a tiny amount of energy. Most of the attempts fail and a miner will have wasted that energy. Only once about every ten minutes will a miner somewhere succeed and t...

IT'S A SCAM! A LIST OF WEBSITES, TRYING TO STEAL YOUR BITCOINS Remember, there are NO FREE BITCOINS! => Yourbitcoinbanker.com -Don't send bitcoin to thieves please! The whole thing is just pure lies, and if you are dumb enough to believe these crooks, then sorry, but you will come across far sharper scams than this. 9/27/17 => Krypto-gold.com Cryptogold.com and Cryptogold.de -All associated, all just hyip scams. 9/27/17 => Loanbit.net -Odd how you can send bitcoin to be loaned, but there is evidently no route to borrow bitcoin. That's because it is just a ponzi, like the MMM schemes. 9/27/17 => 1stghs.com -You are playing at mining, it isn't real. As long as you know it's a ponzi, then it is your choice. 9/27/17 => Ximoney.site -Don't waste your work, don't refer anybody, don't send money or bitcoin. Just don't go here eh. 9/26/17 => Btctradefare.org -What a tot...

What Is Cloud Mining? Cloud (or remote) mining – is the process of using hardware power to mine cryptocurrency (such as Bitcoin or Litecoin) remotely. This mining model came to existence due to the fact that the increasing difficulty of mining has made it unprofitable for mining enthusiasts to mine Bitcoins at home. Cloud mining gives people a unique opportunity to begin mining cryptocurrency without the need for a large initial investment in hardware or technical knowledge. Despite the simplicity of the cloud mining model, it is worth elaborating on a few details, specifically it’s important to highlight that remote mining comes in two forms: hosted or cloud based mining. Remote Hosted Mining The first form of remote mining is remote hosting. This model suits users with a high level mining experience and know-how and who require a high degree of control over their mining hardware. Under this model, the mining hardware is host...

What is Bitcoin? Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence. Who created Bitcoin? Bitcoin is the first implementation of a concept called “cryptocurrency”, which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has si...