Archives for March 2014

Is bitcoin mining profitable?

As bitcoin’s popularity grows, more and more people aren’t simply content to purchase it—they want to help run the system. This is part of what makes bitcoin such a unique currency, and it’s part of the draw for many cryptocurrency enthusiasts. Helping run the system benefits both the general bitcoin community and the individual miner, but is it actually worth the time it takes?

 

Let’s look at what it takes to get set up as a miner.

 

First, you’ll need to buy hardware. It is impossible to mine bitcoin on a regular computer with nothing added to it. You need specialized equipment, and this is going to cost money. Getting started as a bitcoin miner is just like setting up any other business. You’re an entrepreneur now, and it’s going to take an initial investment to kick start your new self-run business.

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Earn Free Bitcoin


Free bitcoins

 

You want bitcoins. You don’t have a credit or debit card and your Paypal is limited. There are more ways to get bitcoins, and in this post we will look at how you can earn free bitcoins. Over the coming months I will add various methods of how to earn free bitcoin online. The first way of earning free bitcoins is through the website, Cointasker, where you can earn free bitcoins for doing tasks. You can compare it to other task based websites such as shorttask.com and microworkers.com. The difference is you earn bitcoins for completing the tasks as opposed to Dollars, Euros or Pounds. I can safely say that cointasker is a legit website, no scam, no dodgy business.

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What is bitcoin mining?

 

What is bitcoin mining?

Bitcoin mining is the process of confirming bitcoin transactions and earning new bitcoins in reward for the work. According to Bitcoin’s official website, “Anybody can become a Bitcoin miner by running software with specialized hardware.” This is absolutely true. Bitcoin’s policy of being a free currency allows anyone with the time and computing power to mine bitcoins.

Because bitcoin is traded over a peer-to-peer network, bitcoin mining machines can tune in to the network and pick out transactions. The user running the machine then processes and confirms these transactions.

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What is Bitcoin?

So, what is bitcoin? Bitcoin is virtual money—an entirely digital currency. Transferred via a peer-to-peer payment system that has absolutely no involvement in any particular government, it is equally uncontrolled by any sort of federal force, making it one the freest forms of payment to move into circulation.

 

Bitcoin hit the market in 2009 as an open source software, created in order to give consumers a currency that wasn’t bound by traditional currency issues—bitcoin doesn’t have to have a matching amount of gold stored away somewhere in order to be used, and there’s no worry about it wearing out and needing to be replaced, since it doesn’t physically exist (traditionally; there have been movements toward potentially printing it out and allowing for bitcoin ATMs).

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How to Buy Bitcoins with Credit Card, Paypal and Debit Cards

Use Virwox to buy Bitcoins

Getting hold of bitcoins has not always been so easy with security concerns and privacy issues in the past. However now that bitcoins are becoming more widespread and accepted it will become easier to buy bitcoins. Here is a step by step instruction how to buy bitcoins with credit card.

Virwox was set up as a virtual currency exchange website originally to trade Second Life Lindens (SLL). As you have probably found out it is difficult to find many places to buy bitcoins with credit or debit cards but following these steps you can.

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Invest in Bitcoin

Invest in Bitcoin

Investing in bitcoin is a reason why many people are turning to digital currency’s in the hope that they can double or triple their money. If you have been following bitcoins success then you will know that the value of bitcoins has increased dramatically since its conception and over the last year rose from a low point of about $13 in January 2013 to high of $1,209. In January 2014. Imagine if you had invested just $100 back in January 2013! Bitcoin has experienced  a slight pull-back since those highs a few months ago and trades at $612 per bitcoin. If bitcoin can regain momentum that it had a few months ago then at current prices you would be looking to double your money quite easily.

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