10 answers to the most common questions about Bitcoin mining and cryptocurrency
Get Rich / / December 20, 2019
Layfhaker helps to understand what a digital currency, and explains in simple terms why they are needed.
So what is bitcoin?
Bitcoin (bitcoin, BTC, BTC) - a cryptocurrency (digital currency). She's not on physical media - paper or coins. It is virtual. Bitcoins have no central bank, which runs the bank notes in circulation. They are not provided as the official currency, gold.
Issue (the issue of new money) engaged millions of computers around the world, which is the basic client software open source.
This decentralized (unlike conventional currency) payment system, where all participants have equal rights. Compare it can work with torrents. The scheme is similar: the torrent clients can transfer files to each other directly, without intermediaries and supervisors.
The difference is that in the case of Bitcoin is not the file transfer and the commission of a complex mathematical operation, which supports the work of the payment system, and charging for it virtual points.
Bitcoin can get someone who has such a program?
Yes. You install one of the following client software, crank the purse and thus provide a computer to generate new transaction blocks.
And bitcoin get me just like that?
There are different ways of getting bitcoins. If you do not want to bother, you can buy them on the stock exchange cryptocurrency (Digital converter). There are also automatic bitcoin exchangers.
And you can try to get bitcoin on your computer. This process is called Mining (from the word mining - mining).
It turns out bitcoins you can get any number? Even a billion?
Not. Number of bitcoins restrictions: the system may issue only 21 million units this digital currency. Who generated just over 16 million. According to the forecasts, should stop the emission of bitcoins to 2140.
The cost of one Bitcoin recently exceeded 3000 dollars, but then fell by 25%.
Since the program connects more and more new users, it becomes more difficult to obtain bitcoin, it requires a lot of computing power. In addition, the reward for the extraction decreases periodically.
The author of this whole undertaking - Satoshi Nakamoto (as yet unknown, is the pseudonym of an individual or group of programmers) - set their own rules. for Mining Award is halved every four years. In 2016, she was 12,5 BTC, 2020 godu occur in the following reduction.
Ie Mein bitcoins now useless?
No, but it is quite difficult, especially after the emergence of specialized devices called ASIC (Application-specific Integrated Circuit), which were created for mining bitcoins. This is a fairly expensive equipment.
But there is good news: bitcoin - is not the only cryptocurrency. Now there are several hundred of its species. They, of course, are inferior in value of Bitcoin, but also have their price, and they are easier to produce. Find out what kind of cryptocurrency most profitable Mine, it is possible on the specialized resources.
One of the most expensive and popular cryptocurrency today considered Ethereum (Ethereum): it costs about $ 300 per unit.
And what exactly is going on mining?
Its essence - in the generation unit (periodically recorded in the Network files, which contain information about past transactions). The block consists of the hash of the previous block header hash transactions and a random number.
Chain containing all of the transactions referred to blokcheyn.
To create a block, a miner must perform a certain task (for each block there are several solutions, it suffices to find only one of them). Previously, users could obtain cryptocurrency on home computers, using the power of the processor. Mining is then carried out by means of cards. Now for the process to be less energy-consuming and more effective, users are combined into pools (hundreds of miners may be included therein). The award in this case is divided into all.
There are also farm mayningovye - complexes with expensive computers, equipped with powerful processors, graphics cards, and cooling systems.
And what is the easiest way to mining bitcoins?
Bitcoin cranes. These are sites where the issue cryptocurrency registered users with a certain periodicity. That is literally open and close the "crane".
Most of these resources are working on a simple scheme: You need to register and perform some simple actions (jump to the desired page, to solve the CAPTCHA, and so on). Of course, earn a large sum here is difficult, "taps" are usually issued Satoshi (an indivisible virtual coin, named in honor of the author of the project). One Bitcoin - a 100 million Satoshi.
Is this cryptocurrency worth the effort?
Proponents of digital currencies referred to a number of advantages:
- Easy to use. To create a wallet for cryptocurrency, should be a few minutes.
- lack of taxes, Fees for account maintenance and other charges.
- Rapidity. Bitcoins literally reaches the destination within minutes.
- Anonymity and transparency. You can create bitcoins without being tied to any of your personal information and always be aware of all the transactions.
- Regardless of the cost of oil, political and other events, in contrast to conventional currencies.
- Protection. No one will close, does not invalidate your account and will not dictate the rules.
How and what can be spent cryptocurrency?
On anything. Similarly, as rubles, dollars, euros and other currencies.
Do not take the risk to invest in bitcoins and other cryptocurrency?
The risk is always there. But cryptocurrency now in the trend. The Japanese authorities have recognized bitcoin official means of payment. Leaders of the Central Bank of the Russian Federation has announced the desire to issue national cryptocurrency. Similar intentions voiced in China, Germany, Canada, Singapore.
Some issue their own startups cryptocurrency and practice on crowdfunding blokcheyne (ICO - Initial Coin Offering, the initial infusion kriptovalyutnye).
One of the successful examples - startup Brave, Internet browser Mozilla one of the creators of the American programmer Brendan Lamentations. Authors of the project entered its cryptocurrency BAT (Basic Attention Token) and estimated its cost at Ethereum. One is Ethereum 6400 BAT. Then they put the maximum number of BAT (1,5 billion units) for sale. 30 seconds start-up collected $ 35 million.
With high probability we can assume that the popularity will grow cryptocurrency and blokcheyn technology will develop even more actively.