What is a bitcoin ? How to mine bitcoins ?.


Bitcoin is the crypto-currency that makes the most about it currently. Created in 2008 by a certain Satoshi Nakamoto (it is believed to be a pseudonym), its use was quickly popularized on the web. Four years after its launch, a bitcoin was valued at over one thousand dollars.

The portraits of users have become rich thanks to this currency are then multiplied in the media. They were quickly followed by articles, less flattering, révélant that the bitcoins were appreciated very much by the criminals acting on the Dark Web.

(During the Bitcoin in dollars per Ster30Pro – Wikimedia Commons. )

What is the Bitcoin ? .

The Bitcoin is a crypto-currency, that is to say, a digital currency encrypted, which exists independent of any central bank. It has no physical form, it is not linked to any government and it is trading only in peer-to-peer (peer-to-peer or P2P).

The measurement unit of this currency is the bitcoin (with lowercase), often abbreviated BTC or XBT.

Any individual can purchase or exchange bitcoins on the internet. One of the strengths of this currency is that the cost of transfer is a minimum, even at the international level. Note that, if the Bitcoin can be used to make online purchases (for example, to pay for Express VPN), its use in a store is still limited.

What is the mining of bitcoins ? .

As Bitcoin is a digital currency decentralized, it needs to have access to multiple computers to perform very complex calculations and confirm transactions that have taken place in its name. This process is named mining.

In exchange for their services, miners (the owners of the servers upon which are carried out these calculations) receive new bitcoins and transaction fees.

If, theoretically, anyone can mine bitcoins, this procedure is now mostly done by professionals, cooperatives, or private companies.

Can you become rich with bitcoins ?.

There are examples of individuals who bought bitcoins for three times nothing and who, years later, have resold their money for a small fortune.

In 2013, the case of Kristoffer Koch has been in the press. This young Norwegian would have made nearly $ 850 000 of earnings through Bitcoin.
The sum he had invested in the crypto-currency 4 years earlier ? 27$.

The more time passes the more difficult it is to achieve this kind of profit. The value of bitcoins, although it fluctuates always a little, has a tendency to stabilize. He should also know that, in order to avoid the deflation of its currency, the creator of Bitcoin has planned to reduce the number of its BTC 21 million.

The evolution of Bitcoin is, in fact, quite similar to that of gold. At the outset, it was easy and inexpensive to the miner, which allowed the lucky few to get rich quickly. When the extraction of the precious commodity has become more complicated and expensive, its price has increased, then stabilized. Now, the gold became a medium of exchange and a means of making a profit.

That is worth a bitcoin in euros ? .

As of October 11, 2017, a bitcoin was worth 4 080 €.

How to buy bitcoins ?.

Several online services offer you to sell or buy bitcoins.
Paymiupaym, for example, is an online market that allows in particular to exchange euros/bitcoins.

How to mine bitcoins ?.

Although anyone can mine bitcoins alone, since its computer, the game is not worth the effort for individuals. Literally.

The energy required for the mining is such that if you start in the adventure with the basic material, the cost of your electricity bill will be higher than your profit.

A option offers you : the grouping of minors. You bear always the risk of “working” at a loss but this is limited (your benefits).

When you join a group, you agree to share the task of blasting, the resulting revenues and the associated fees (2 %).

If you are interested, we advise you of the procedure to follow below.

Step 1 : Before you begin, you need an “e-wallet” to store your (future) bitcoins. It can be installed on your computer (it will have to download a file blockchain), or used on the internet. If you choose to keep your bitcoins on the canvas so the principle is the same as Paypal except that instead of putting euros, you store your bitcoins. Several sites offer this service as coinbase.com.

Step 2 : Join a group of miners as slushpool.com (only in English). Good to know : only the leader of the group is paid for the work of blasting, it is thus necessary to have confidence in him, since he may very well do not redistribute its profits.

Step 3 : Install a “miner” of bitcoins on your PC. There are two types : CPU (mine with processor) and GPU (mining with a graphics card). For beginners it is recommended to use software like Kiv’s GUI miner.

Step 4 : Log in to your group Bitcoin and save the address to your e-wallet.

Step 5 : Save your “workers”. Each “worker” is a sub-account within the group. You can have more than one worker per computer.

Step 6 : Save your login details in your software, blasting, and then the URL of your group. Your “workers” can begin to erode.