It seems that school teachers predict that mathematics will come in handy in life are finally starting to come true. Today, with the help of mining – getting cryptocurrency by solving mathematical problems – you can easily secure a comfortable future for yourself.
The technologic process creates new opportunities for humanity and a new risks. A few years ago, the emergence of electronic money significantly eased money exchange, reducing the time for conducting transactions, but at the same time created new opportunities for fraudsters who repeatedly use copies of electronic “coins”.
Blockchain is a new degree of protection representing a distributed database in which information is stored on all transactions of the system participants. Information is stored as a “chain of blocks” with a certain number of transactions.
At the same time, the blockchain is absolutely transparent. There is no centralized place in it where all the registrar’s records are kept. Notaries are all members of the system at the same time around the world who see information on more than 95 million transactions since 2009. When you make each change, the system is updated automatically.
Blockchain provided people with freedom from the attention of financial regulators and banks and also allowed millions of computer users around the world, ensuring the functioning of the system, earning digital currency – Bitcoins.
How does bitcoin mining work?
Information in blockchains is archived in the form of a chain of blocks and blocks are created at the expense of the capacity of millions of computers on which a special program is installed. Bitcoins are awarded for creating blocks as a reward.
To increase the chances of guessing the hash, miners are often combined into joint generation pools, which are defined by the common system as one miner. Pool members jointly select options and then divide the reward among themselves. This can happen in several scenarios.
It is worth saying that every year the complexity of obtaining bitcoins increases. A few more years it was possible to earn money using the power of a home computer. Then the miners began to use top-end video cards and eventually switched to special mining devices – first reprogrammed chips and then to ASIC special-purpose integrated circuits. There are bitcoin “farm” today, where complex machines are constantly engaged in mathematical calculations.
The first is high power consumption (several hundred watts for one video card). Although modern ASIC devices can reduce power consumption to 2.5 watts.
The second disadvantage is time constraints. Already installed the maximum number of produced bitcoins – 21 million. This means that it will only be possible to mine the first cryptocurrency until 2041. In addition, the reward for creating blocks is constantly decreasing. The award decreased from 50 Bitcoins to 25 Bitcoins in 2012, to 12.5 Bitcoins in 2016 and then it will decrease even more.
You need to download a bitcoin client from the site http://www.bitcoin.org/, which is suitable for your operating system, to get a wallet. When the client is in the active state, click the “Create” button and generate the address of your wallet. It looks like a long combination of numbers and letters.
Save the file wallet.dat to a USB flash drive, print it. Otherwise, any technical failure or computer breakdown may result in the irretrievable loss of bitcoins. The story of the Australian is popular in the network. He threw out a hard drive with bitcoins in 2010, whose market value today would be $ 4.7 million.
Already developed Bitcoin Wikipedia, 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).
Some pools have their own software, but most of the mining programs need to be installed from the outside. The most popular program for Mac devices is MacMiner. The best programs for PC are CGminer, BFGminer, BitMinter, BTCMiner, Poclbm and DiabloMiner.
Connect the miner to the computer, open the mining program, enter the username and password on the pool site and the process will start. You just have to wait.
If you have not yet accumulated an investment for mining, you can temporarily work with a tool like bitcoin taps. This application is either a website that gives users rewards for performing various tasks. Most often it is clicks, viewing ads or captcha, which must be entered on various sites.
However, remember that in taps the reward is calculated not in bitcoins, but in satoshi (one hundred millionth part of bitcoin). A lot of money on these sites will not work.
In addition, if you are selling goods or services online, you can begin to accept payments in the form of bitcoins and receive bitcoins without investing in mining.
Bitcoin Earnings Today: Reality or Myth
If a year ago the general attitude towards cryptocurrencies was rather skeptical, then the success stories of 2017 forced the skeptics to change their point of view.
The horizontal management and the decentralization of the blockchain have dispelled attempts to compare mining to the network pyramid. Now it seems that only the most hopeless skeptics continue to prove that cryptocurrency is only a dubious scam of a handful of programmers who want to make money on gullible masses.
The automatic charging of bitcoins equalizes all the mining participants, so with the necessary equipment now virtually everyone can start getting bitcoins and form their own cryptocurrency 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 steadily and regularly for a long time.
If you are opposed to any risk, there are bitcoin taps that will allow you to slowly but surely reach your goal by solving absolutely simple tasks in the Internet.