BITCOIN. WHAT IS, HOW YOU CAN WIN MONEY?
Once in the Wild West we had the goldsmiths, where in rivers, streams and small mines they were looking for gold.
Today we have new digital mines with “Digital Miners” where night and day through the computer they make extraction to Bitcoin.
Before I analyze Bitcoin to say that there is now a free app via Google chrome where everyone can extract Bitcoin and make money. In fact, if it recommends the application, it gains more cryptography units. Potentially and as long as Bitcoin remains possible and demanded, it can generate some small or higher income. Bitcoin is also a trading tool for purchases of goods and / or services around the world. It’s absolutely free app via Google Chrome extension and takes seconds to install.
What is Bitcoin?
Bitcoin is a consensual network that enables a new payment system and a completely digital form of money. It is the first decentralized peer-to-peer payment network operated by its users without a central authority or intermediaries. From the point of view of the user, Bitcoin is pretty much like the cash money the Internet. Bitcoin can also be considered the most famous triple-entry accounting system that exists.
Who controls the Bitcoin network?
No one owns the Bitcoin network just like no one owns the technology behind the email. Bitcoin is controlled by all Bitcoin users around the world.
How does Bitcoin work?
On the part of the user, Bitcoin is nothing more than a mobile phone application or computer that provides a personal Bitcoin wallet and allows the user to send and receive bitcoins through it. So Bitcoin works for most users.
In the background, the Bitcoin network shares a ledger called the “block chain”. This book contains any transaction ever processed by the network, allowing the user’s computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures that correspond to the shipping addresses, allowing all users to have full control when sending bitcoins from their own Bitcoin addresses.
Is Bitcoin really being used by people?
Yes. There is an increasing number of businesses and individuals using Bitcoin. Businesses such as restaurants, hotels, law firms, and popular online services such as Namecheap, WordPress, Reddit and Flattr are included. While Bitcoin remains a relatively new phenomenon, it is growing rapidly. At the end of August 2013, the value of all bitcoins in circulation exceeded $ 1.5 billion with $ million worth of bitcoins being exchanged daily.
Can I make money with Bitcoin?
You should never expect to get rich with Bitcoin or any growing technology. It is important to always be cautious because what looks very good to be true or violates basic economic rules.
Bitcoin is a rising space for innovation and there are business opportunities that also pose risks. There is no guarantee that Bitcoin will continue to grow even though it has developed very fast so far. Investing time and resources in anything related to Bitcoin requires entrepreneurship.
There are several ways to make money with Bitcoin such as mining, speculation, or leading new businesses. All of these methods are competitive and there is no guarantee of profit. It is up to each person to make a proper assessment of the costs and risks involved in each such project.
How can I do mining?
There are several free or paid programs.
One of these is Cryprotab, it’s free and is done through extension in Google Chrome. Just click here.
We can save money as much as we use our Google Chrome. As long as your computer is running, so many cryptos will win.
Want to win more? Just choose through the program to send your link (the application gives it to others). The more links you create and your acquaintances, the higher the Bitcoins earned.
You must always calculate that your computer is all day long, consuming power and taking it into account as your exit.
How are Bitcoin Produced and What is Mining?
In short: Bitcoin, because it is decentralized, needs the contribution of random computers from across the globe to confirm the transactions that are made globally. This process requires a huge amount of computational power. New bitcoins are issued every ten minutes, which are given as a reward to those who contribute to the confirmation of transactions, according to the contribution of each. Those who confirm transactions to receive some reward are called miners and the mining process, respectively.
Each transaction made with Bitcoin passes a validation check and then is placed in a block along with other completed transactions. Each block that is created has a direct relationship with the previous one and with all the other blocks. This creates a block chain. The relationship of each new block with the predecessor is determined by a mathematical algorithm, but it is difficult to create.
Each time a new block is created, a number of new Bitcoins are automatically generated, which are shared by those who have solved the algorithm according to each contributor, this process is called Mining.
The larger the percentage of total computing power available to solve the algorithm, the greater the percentage of new bitcoins generated will get. For example, someone who professionally deals with bitcoin mining and has a lot of miners (GPUs that have been modified to solve the algorithm) will get a bigger bit of “pie” of the new bitcoin that comes out of the circus from someone who has only one miner.
What determines the bitcoin value?
The price of a bitcoin is determined by supply and demand. When the demand for bitcoins increases, the price increases and when demand falls, the price falls. There is only a limited number of bitcoins in circulation and new bitcoins are created at a declining and predictable rate which means that demand must follow the level of inflation to keep the price stable. Because Bitcoin is still a relatively small market compared to what it might be, it does not take significant sums to move the market price up or down, and therefore the price of a bitcoin is still very unstable.
Is Bitcoin a bubble?
A quick rise in prices is not a bubble. An artificial overvaluation that will lead to a sudden downward correction is a bubble. Choices based on individual human action by hundreds of thousands of market participants are the reason why the price of bitcoin fluctuates as the market is looking for a price.