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Earnings on the Internet. What is Bitcoin mining?

Earnings on the Internet. What is Bitcoin mining?
06-07-2017 0 874

In addition to ordinary currencies, that is, all the usual dollars and rubles, there are so-called "crypto-currencies".

Crypto-currencies are digital units of account, "electronic cash", which are considered money. The crypto-currency system is extremely complex and confusing. The key feature of the crypto currency is the lack of administration and the complete privacy of money transfer, although it can be viewed.

The most popular crypto currency is Bitcoins.

Bitcoin is a decentralized digital currency, with which you can make instant payments to anyone, anywhere in the world. Bitcoin uses technology to work without centralized management: transactions and the delivery of money are carried out jointly by the network and its users.

Crypto currency is obtained by mining.

Mining is the creation of new blocks and further receiving rewards for this in the form of commission fees. It requires a separate powerful computer that will consume a lot of electricity.

In turn, blocks are different official data and other information necessary for the operation of the system.

Mining is done by bitcoins. For stable currency mining, the miner needs: stable access to electricity, a special computer assembled specifically for mining (the emphasis is on a certain number of productive video cards in one computer, since video cards perform the function of mining), and the ability to somehow cool down the computer.

Bitcoins are extracted by blocks. At one time its size was 50 BTC, but it decreases after a certain number of extracted blocks for the sake of adjustment and balance of the entire system. Every 10 minutes a new block is mined.

The production of bitcoins is considered beneficial only when the cost of extracted coins exceeds the cost of equipment and electricity.

Common misconceptions are such conjectures that Bitcoin are ordinary figures that only represent real money, and are something of a debt receipt. Also, it is a misconception that this way of thinking: as they are simple numbers, then they are worthless, and they can easily be attributed or deleted, forged, or copied. The idea of ​​Bitcoin was to create not figures that represent real money, but a separate unique currency, which Bitcoin is.

The whole system of this currency stands on the mechanisms of transactions. They merge into chains, after which the transaction takes a fee from one or more existing operations and indicates to whom it is intended.

Summing up, it can be said that the way of earnings on Bitcoins by mining is not so simple, and requires certain costs, such as powerful equipment and high power consumption. But, if you get together and get serious about this business, you can get rich quite well, because at the moment 1 Bitcoin equals approximately 160,000 Russian rubles, and the rate is skyrocketing.

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