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2018-11-20 07:35:24

How to earn bitcoin: a step-by-step guide

It seems that predictions school teachers that mathematics is useful to us in life, is finally coming true. Today, with the help of mining - obtaining cryptocurrency by solving mathematical problems - you can easily secure a comfortable future.

Technology creates new possibilities for mankind, and with them - the new risks. Until a few years ago, the beginning of electronic money that has facilitated the exchange of cash, reducing the time of the transaction, but at the same time created new opportunities for fraud, repeatedly using up the electronic "coins".

Blockchain - a new level of protection, represents a distributed database that stores information about all transaction participants in the system. Information is stored as a "chain blocks" with a certain number of transfers.

Thus, blockchain absolutely clear: there is no central place where all the registrar's records are kept. Notaries act at the same time, all participants of the system around the world, who see information on more than 95 million transactions since 2009. At each change the system is updated automatically.

Blockchain provided people the freedom to the attention of financial regulators and banks, as well as allow millions of computer users around the world, ensuring the functioning of the system, making digital currency - Bitcoins.

How does mining Bitcoins

Blockchain's information is archived in a block chain, and blocks, in turn, are at the expense of the power of millions of computers on which a special program installed. For the creation of blocks as a reward awarded Bitcoins.

The process of creating an electronic currency held in several stages:

  • First all-Bitcoin transfers fall into a single recording file available to each user of the system (log);
  • Next miners (people involved in mining Bitcoins) open the resulting file - and begin to pick up a unique hash (data bit string), which is suitable as a transaction, and to a special secret key;
  • The person whose computer is the first to calculate the hash, earn a nice bonus in the form of 12.5 Bitcoins;
  • After calculating the hash block occurs with closing transaction - and Miner system sends a new block to generate the hash.

Total award is prepared miners, formed from standard portion Bitcoins and the amount of the transaction fees included in the block.

To increase the chances of guessing the hash, miners are often combined into pools joint generation, which are defined as one overall system miner.  The participants of the pools jointly select options, and then split the reward among themselves. This can happen in several scenarios:

Proportional. When the pool is block, the reward is divided proportionally among all participants.

PPS. The award is awarded for potentially correct solution to the problem. In this case, the current fee for the unit is divided into the current complexity.

The Score. Is the estimated reward system potentially better decisions, where an algorithm defined pool organizer.

It is said that every year the difficulty of getting Bitcoins increases. Until a few years it was possible to earn money using the power of your home computer. Further miners started using popular video, and eventually switched to a special device for mining - first reprogrammed chips, and then to application specific integrated circuits ASIC. Today there are entire bitcoin "farm" where complex machines are constantly engaged in mathematical calculations.

Mining has two distinct disadvantages.

Origin - high power consumption (several hundred watts for a single card). Although modern devices of ASIC can reduce power consumption to 2.5 watts.

The second drawback - limited time. Already established maximum number of produced Bitcoins - 21 million. This means that the first cryptocurrency am Main will only be until 2041. Additionally, the award continuously decreases for creating blocks. In 2012, the award with 50 Bitcoins Bitcoin fell to 25 in 2016 - to 12.5 Bitcoins, and then will be reduced even more.

But even the reward of 12.5 Bitcoin - a lot considering the fact that today the cost of one unit of account is more than $ 4,000.

How To Earn Bitcoin

If you decide to save time and start to earn Bitcoins, follow our step by step instructions.

Step 1. Select the equipment for mining

Bitcoin's popularity is growing every year, and it increases the complexity of mining. In this case, a powerful technique - your competitive advantage.

During the existence of cryptocurrency equipment for mining has changed several times:

CPU-mining anticipated use of processing power. It is the oldest type of equipment for mining, which is not used at this time due to the low efficiency.

GPU-mining is done at the expense of graphics cards. Compared to the previous method allows for enhanced system performance.

FPGA-mining - energy-saving version of GPU of mining.

ASIC-mining is done at the expense of special equipment to work with cryptocurrency.

You can even use a special calculator that will calculate the return on your investment.

Another option is cloud mining. In this case, the purchased equipment is managed by the contractor and there is no need to keep complex equipment at home.

Step 2: Register your Bitcoin wallet

To start a wallet, download Bitcoin client site , which is suitable for your operating system. When a client is active, click the "New" - and generate the address of your wallet. It looks like a long combination consisting of numbers and letters.

Save the file wallet.dat on a flash drive, print it out. Otherwise any technical failure or computer failure can result in an irretrievable loss Bitcoins. Online Popular Stories Australian who in 2010 threw a hard drive with Bitcoins, whose market value today would have amounted to 4.7 million dollars.

Step 3. Select the pool

When choosing a pool, remember: groups with fewer participants earn bitcoins more slowly, and in large groups the amount of payments is less.

Be sure to ask yourself the question:

  • How is the fee?
  • What is the commission for the withdrawal and Bitcoin mining?
  • How often the participants are the blocks?
  • How easy is it to bring Bitcoin?
  • As far as the pool is reliable?

Bitcoin Wikipedia has already been developed where you can compare the characteristics of pools - and choose the one that suits you. Then register an account on the selected site and add an employee (Worker).

Step 4. Install the special program

Some pools have their own software, but most often mining software needs to be installed from outside. The most popular program for Mac devices is MacMiner. The best programs for PC-CGminer, BFGminer, BitMinter, BTCMiner, Poclbm and DiabloMiner.

Step 5. Produce Bitcoins

Connect the miner to the computer, open the mining program, enter the login and password on the pool's website-and the process will start. You just have to wait.

Is it possible to earn Bitcoins without attachments?

If you have not yet accumulated investments for mining, you can temporarily work with bitcoin crane. This is an application or website that gives users a reward for performing various tasks. Most often it's clicks, viewing ads or captcha, which you need to enter on various sites.

However, remember that in the taps fee calculated not in Bitcoins, and Satoshi (one hundred millionth part of Bitcoin). And a lot of money on these sites will not work.

List of the most popular Bitcoin cranes:

  • BonusBitcoin.
  • FieldofBitcoin.
  • FrogFaucet.
  • CoinCollecting.
  • CrownFaucet.
  • PentaFaucet.
  • BattleBitcoin.
  • DailyFreeBits.
  • MezzaBank.
  • Free-Bitcoin.

In addition, if you sell goods or services online, you can begin to accept payment in the form of Bitcoins and thus receive Bitcoins without investment in mining.

Earnings on Bitcoins today: reality or myth

If a year ago the General attitude towards cryptocurrencies was quite skeptical, the success stories of 2017 forced skeptics to change their point of view.

Horizontal management and decentralized nature of the block chain in down and ashes scattered attempts to compare mining with the network pyramid, and now, it seems, only the most hopeless skeptics continue to furiously prove that cryptocurrency is a dubious Scam only a handful of programmers, those willing to capitalize on gullible masses.

Automatic calculation of Bitcoins equalizes all participants of mining, so in the presence of the necessary equipment, now virtually everyone can start receiving bitcoins and form their crypto-currency capital.

Given the statistics of the pool to which you join, you can predict in advance the number of bitcoins that can be obtained, which allows you to build long-term plans for how to earn bitcoin not in a single number, but stably and regularly for a long time.

And even if you are an opponent of any risk, there are bitcoin cranes that will allow you to slowly but surely go to the goal by solving absolutely simple and unpretentious tasks on the Internet.

But if you decide to act, today is the best day, because until 2041 there is less time.

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