Bitcoin For Beginners - Learn How To Mine Bitcoin ! - Part 1
What is Bitcoin? and How do you mine it? Well, this video will go over Bitcoin mining and show you how to set up Bitcoin Mining Software on your computer. Bitcoin is a digital currency, which is supported by a P2P network of computers across the internet that act as servers to process the financial transactions of this currency. Some believe Bitcoin is a Scam, or Ponzi scheme, but once one understands the concept of Bitcoin, it is clear that it is not. While the uses for Bitcoin are virtually infinite (paying for goods, services, or money laundering, gambling and drug smuggling) it's structure remains concrete and open source. However, the VALUE of each Bitcoin is disputable. In theory, Bitcoin becomes harder and harder to mine, which means it takes more and more energy (electricity for your computer/"mining rig" to run) to process Bitcoin and solve "Blocks" of data. Therefore, the price of Bitcoin may be related to the price of energy and the cost of maintaining this network. While it is easy to assert that there will be additional computers added to the network daily, which would ease the work load on the initial nodes, one can only speculate that the price of Bitcoin MUST increase over time. Especially when power costs in the foreseeable future will be rising. Currently, only 21,000,000 Bitcoins can be created, but that I guarantee will rise, as many are hoarding the coins and there just simply wont be enough to go around and not enough work, or transaction data, for the increasing number of miners out there. Specialized computers and "Mining Rigs" are becoming available from companies such as Butterfly Labs and others, which harness ASIC technology. ASIC means application-specific integrated circuit- so these devices are engineered to mine Bitcoin and only mine Bitcoin. This creates an extremely powerful, and efficient machine, over 100x times more efficient than current setups. These machines are said to be able to mine Bitcoin up to 50 GH/s (if that means anything to you, but it's A LOT) extremely efficiently! More efficient than any desktop computer rig. None of these super computer miners have been shipped/received and it is still extremely uncertain whether these companies are scamming people or not. (I wouldn't PRE-order a $3,000 machine promising me all the money in the world, but many are) SO - If these machines come to market, they will truly dominate all others and render most other PC's/Rigs worthless. Anyways, enjoy the video! LEARN MORE AND JOIN THE CONVERSATION ON SOCIAL MEDIA! BitCoin For Beginners Facebook Page https://www.facebook.com/pages/Bitcoin-For-Beginners/1413871525522163?ref=hl BitCoin For Beginners Twitter https://twitter.com/BTCBeginners ___________________________________________ Bitcoin Wallet: http://bitcoin.org/en/choose-your-wallet GUI Miner: https://bitcointalk.org/?topic=3878.0 BitCoin Calculator: https://bitclockers.com/calc Monitor How Many Watts Your Computer Uses:http://www.newegg.com/Product/Product.aspx?Item=N82E16882715001 MH/s Hardware Comparison: https://en.bitcoin.it/wiki/Comparison_of_mining_pools BitCoin For Beginners - Part 2: http://www.youtube.com/watch?v=ZEV3QFj19u8 BitCoin For Beginners - Part 3: http://www.youtube.com/watch?v=pvrVtCOGTWY Thank you!
Comments
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Does the software slows down the computer?
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Hey, I don't know what the issue is here but I can't manage to get my workers to work. I create a worker, I put his details in the miner and it starts mining but my worker is idle on slush's pool
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38 bitcion a month wow!!http://www.crazebtc.com/ref/c03dc584f2
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This is a nice web site that you can use to make extra bitcoin online: https://bitminer.io/856165
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Good now i confirmed this that Mybitcome is real big scams, my friend and brother tried to withdraw their balance since over two weeks, their transaction still on pending for 2 weeks i couldn't believe that and i did withdraw from own this past 18 hours nothing reflect, the something when i deposited $280 your didn't post it now i'm going to pass this on Facebook, google, twitter and report mybitcome on FBI page.
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Bitcoin worth$1,023.43📈💵
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what if you live in housing and don't pay light bill?
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@coindesk The latest #Bitcoin Price Index is 1,027.94 USD http://www.coindesk.com/price/
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Can you do this with a MacBook Pro?
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Hey! I have found a new BTC website! You can make 0.0006 BTC/Day : https://bitminer.io/851182
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Lol can you go to jail for this?
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1 = 1000
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am 7 years 41 weeks behind !!!!!!!!! somebody help me
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>$1000
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Invest 0.002BTC and earn 16BTC fast
https://www.btcinvestments.co.za/ref/f91159ec51/register -
Today Price of 1 Bitcoin equals
1024.99 US Dollar -
Here is a better offer registered now 6 million Naira awaits uu*PRESENTING TO YOU A LOW CAPITAL CASH SYSTEM* A 2x5 Matrix, You earn 16.331 bitcoin from a one time payment of 0.002 bitcoin (N1200) Now how does it work ===================== LEVEL 1: Starter. Pay your referrer Level 1 0.002 Btc Get 2 x 0.002 Btc = 0.004 Btc – 0.002 Btc (move to 2) = 0.002 Btc profit (750naira) LEVEL 2: Runner. Pay your upline Level 2 0.003 Btc Get 4 x 0.003 Btc = 0.012 Btc – 0.003 Btc (move to 3) = 0.009 Btc profit (3,400naira)LEVEL 3: Pacer. Pay your upline Level 3 0.01 Btc Get 8 x 0.01 Btc = 0.08 Btc – 0.01 Btc (move to 4) = 0.07 Btc profit(26,500)LEVEL 4: Finisher. Pay your upline Level 4 0.05 Btc Get 16 x 0.05 Btc = 0.8 Btc – 0.05 Btc (move to 5) = 0.75 Btc profit (285,000naira)LEVEL 5: Winner, Pay your upline Level 5 0.5 Btc Get 32 x 0.5 Btc = 16 Btc (6,000,000naira)No More upgrades = 16.331 Btc total NOTE: WE ARE A GROUP AND A TEAM SO DOWNLINES WONT BE A PROBLEM REGISTER WITH THE LINK BELOW https://www.btcinvestments.co.za/ref/acbb12f22b/register
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Do not sell any bitcoins right away. Wait 3 years until the price is very high.
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1 but ion now equals 1002 dollars as of Jan 1 2017
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the best mining site https://btclab.io/?ref=captbuzo
16m 29sLenght
18696Rating