Thursday, February 4, 2016


BitMiner - free and simple next generation Bitcoin mining software
What is Bitcoin?

Bitcoin is a digital currency that is an open source and decentralized which means it isn't owned by any government or controlled by a bank.

Nothing can be hidden or manipulated due to how transactions are verified on a "global spreadsheet" called a block chain. In which thousands of computers verify each purchase transaction and bitcoins sent to and from in the network.

This means that the spreadsheet is duplicated and synced all over the world by thousand's of people in a peer to peer system which has no focused centralized control meaning No one can manipulate it. 

You can send bitcoins from your laptop, Smartphone, or Tablet to anyone anywhere around the world day or night.

The transaction fee is anywhere from 0% to a small fraction compared to a cost of a credit card payment or a bank transfer especially internationally. The time taken to send is reduced, on a average transaction from 20-30 minutes.

Bitcoin is does not have to be printed. Where the banks can create more money to cover the national debt and devaluing the currency and cause inflation.

Bitcoin is created digitally by a community of people that anyone can join. Bitcoins are "mined" using computing power in a distributed network. "Mining" is a method of processing and securing each transaction then locking them in a block chain ledger.

Miners earn bitcoins as rewards for using their computing network when they verify transactions and solve the complex mathematical formulas. This require quiet significant computing power and time.

Another way to receive bitcoins are through faucets. Bitcoin faucets are a reward system in the form of a website or app that dispenses rewards in the form of satoshis which is a hundredth of a millionth of a bitcoin or BTC for a visitor to claim. Which can be claimed by either completing a captcha or a task as described by the websites.

Why claim bitcoins?

On September 2015 Wall Street accepted Bitcoin as a currency. Bitcoin increases and decreases in value. Right now 1 (BTC) or Bitcoin is worth $374 USD (more or less. Check calculator below).

*In May 2010, a guy bought 2 papa johns pizzas and paid 10,000 with bitcoins which at that time the bitcoin & dollar were equivalent. A few days later the bitcoin value went up from $10 to $700.

*Back in 2009 a guy who was mining for Bitcoins had saved 1,700 bitcoins in his computer and threw away his old computer and bought a new computer. He didn't save his BTC's in a flash drive when the trash man came the next morning they took the computer. A few months down the road the owner found out the value of his bitcoins were worth $22,000,000.00. Remember to save and transfer!!!

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