How to earn Bitcoin

The Bitcoin (BTC) are digital coins, or rather a criptovaluta, and just like the euro or dollars can be used for the sale of goods and services. You’ll surely heard on the Internet, in newspapers or on TV. How to earn a Bitcoin?But what distinguishes them from traditional currencies? Everything, I guess. First of all, Bitcoin does not have a central bank or an entity that acts as an intermediary between the people who exchange them if it’s all based on a peer-to-peer open source that uses a distributed database among nodes, ie between computers users.

This database contains all transactions occurring on the Bitcoin network and is freely accessible by anyone, which means that although they may participate in the creation of digital coins not provide his every movement that you make are public and easily traceable.

bitcoin-logo

The Bitcoin are legal all over the world and regularity of the transactions is guaranteed by a system of public-key cryptography that prevents users from spending the same money more than once or “fix” their purses by placing it in Bitcoin that are not are legitimate owners.

Their value fluctuates based on many factors and can be monitored constantly thanks to services like Bitcoin Charts that show the current valuation of BTC on all major trading market of the Internet. Moreover, their number is not infinite: there are provided a number maximum of 21 million, and every four years the amount of money created is halved according to a rule deflationary.

At this point you’re probably wondering how to definitely earn Bitcoin, and I am here today to try to clear up a bit ‘ideas about. Let’s see what are the basic concepts of this new economic and investing in it is really convenient as it seems.

Purses Bitcoin

Before you start making money you have to create your Bitcoin digital wallet, which is the file in which will save the money (technically called wallet). It is not a complicated task: all you have to do is choose a client, or a program, including those available on the internet and follow the instructions contained therein to open your Bitcoin wallet.

Among the most common clients is that Bitcoin Core is a multi-platform compatible with Windows, Mac OS X and Linux through which to manage the purse, make and receive payments in BTC. The way it works is pretty simple. Once you have downloaded and installed (just start the exe package and click Next or more, if you use a Mac, drag the software icon in the Applications folder) you need to run it and choose the folder in which to save your wallet.

When the operation is completed, you just put it in the wallet activating security encryption (Settings> Digit purses) and from time to time do not forget to create backup copies by calling the voice Backup purses available in the application menu. Remember, your digital wallet is as if it were your real wallet: if you lose, you lose the money that we are on the inside!

More important detail regarding the use of Bitcoin Core is expected that the software will synchronize completely with the Bitcoin network. This means it must be downloaded to the PC blockchain on which the system is based. What is it? I’ll explain.

The blockchain is the database in which are recorded all Bitcoin transactions and, as the name suggests, is structured in blocks. These blocks are unique (ie different from each other) and contain a fixed number of coins as the public keys of the person making the transaction (that is, their public addresses) and the data of the previous block. The number of Bitcoin was initially created to block 50 but this number has been programmed to diminish with time, more precisely halves every four years. Currently it is 25 coins and will remain so until 2016 (the last half-life dates back to 2012). Bitcoin Clock on the site you can check the estimated date for the next change in the value of the blocks.

To know what is the address of your purse went to the File menu> Bitcoin addresses for receiving Core. If you want to create your own (which always refer to the same wallet), click on the New button.

The Bitcoin Core program can be downloaded free from the website Bitcoin.org, which are also available on many other clients for all major operating systems (including iOS and Android). To discover the main characteristics of each software, click on its icon. To download it, however, first click on its icon and then click the Download button.

how to use bit coin core

 

Mining

The mining is the process through which you can get the Bitcoin: technically it is sticking through the technique of brute force data protected by encryption based on the algorithm SHA-256, in practical terms, we can say that it is like groped open a safe by trying many billions of possible combinations.

It goes without saying that such an operation requires a lot of computing power, and this is the main problem of Bitcoin miners. Everyone, in theory may “undermine” and go in search of coins with your computer but it is an almost suicidal mission.

The mining involves the use of the computing power of the CPU and especially the GPU (ie the processor that equips the computer’s graphics card), and do it on a regular computer not only threatens the “health” of the machine but requires a energy consumption so high that it would be nullified, indeed expensive, any collection of Bitcoin. Here come into play alternative solutions.

Mining Pool

Among the most effective ways to earn Bitcoin without melting your computer and without spending a fortune in electricity is the mining pool. Leveraging the technology of distributed computing, this system allows multiple users spread around the world to join forces, namely the computing power of their computers, to perform the mining. When the operation is completed successfully, the value of the block mined is divided among all participants.

There are many systems of mining pool, one of the most famous ones is Bitcoin CZ and to exploit them must use an appropriate client, as BFGMiner that harnesses the power of the GPU and is compatible with Windows, Linux and Mac (if you are a user of OS X download it from here).

ASIC

Another method to collect Bitcoin is effectively relying on ASIC (an acronym for Application-Specific Integrated Circuit). It is very powerful computers designed for the express purpose of undermining digital coins, have a very powerful GPU and ensure reduced energy consumption. You can buy them on sites like Amazon with digits that can even exceed 2,000 euro but you have to be very careful about their build quality and delivery times, which are often very long and reduce the convenience. There are also ASICs in USB format that cost from 50 euro up and may assist in mining from traditional computers.

 

what is bitcoin asic

 

Affiliate Systems

There are also online services that allow to obtain Bitcoin almost without moving a finger. I refer to the affiliate systems as QoinPro which reward users who subscribe to them in their wallet pouring a small amount of Bitcoin (or other criptovalute) every day. This amount increases significantly if the user does other people subscribe to the service through a special referral link.

As you see, get the Bitcoin is not a mission impossible. In fact we can say that it is easy. Far speech, however, is to transform the revenue of digital money in a real gain. You have to know how to optimally organize and invest in the mining amount of time and money is not negligible.

For further details you should take a look at the website Bitcoin.org than inside it includes a guide to take your first steps into the world of Bitcoin with many links and helpful tips.