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Re: Pool vs Cloud Mining.

I need a simple explanation what are the differences between pool and cloud mining. Thanks for your answers! Mining pools are groups of cooperating miners who agree to share block profits in proportion to the mining hash power contributed. While mining pools are convenient for the average miner sin...

Re: bitcoins

Why are bitcoins worth? Bitcoins have value because they are useful as currency. It has the characteristics of money (durability, portability, fungibility, scarcity, divisibility and recognizability) based on mathematical properties instead of relying on physical properties (such as gold and silver...

Re: bitcoins

The new bitcoins are generated by a competitive and decentralized process called "mining". This process is based on the fact that individuals are rewarded by the network for their services. Bitcoin miners process transactions and secure the network using specialized hardware and collect bitcoins in...

Re: Gifting bitcoin to people

Can I give away bitcoin? :geek: Bitcoin gift card is the key term for exchanging Bitcoins for Gift Cards and vice verse. This means that you can buy the desired gift card (f.e.: Coffe Shop, Amazon, etc. ) for cheaper and anonymously by using Bitcoin. On the other hand, you will be able to buy some ...

Re: bitcoins

How are bitcoins created? The new bitcoins are generated by a competitive and decentralized process called "mining". This process is based on the fact that individuals are rewarded by the network for their services. Bitcoin miners process transactions and secure the network using specialized hardwa...

Re: bitcoins

How are bitcoins created? The new bitcoins are generated by a competitive and decentralized process called "mining". This process is based on the fact that individuals are rewarded by the network for their services. Bitcoin miners process transactions and secure the network using specialized hardwa...

Re: Physical backup of bitcoin

Does anyone know what the physical backup of bitcoin is? :shock: You can backup the access to your Bitcoin address. Bitcoin address consists of 2 items: - public key (example: 1ArTkm1GHREMNArmxDb5YinHRTnRxiYXCt) - used to accept BTC - you can share it to get money. - private key (example: L3tvgQbZF...

Re: Physical backup of bitcoin

Does anyone know what the physical backup of bitcoin is? :shock: Bitcoin does not have any physical backup. It means that it is not backed by precious metals or international agreements. However, it has all the characteristics of money like: Uniformity - All Bitcoins are the same. No one can distin...

Re: Gifting bitcoin to people

Can I give away bitcoin? :geek: Bitcoin gift card is the key term for exchanging Bitcoins for Gift Cards and vice verse. This means that you can buy the desired gift card (f.e.: Coffe Shop, Amazon, etc. ) for cheaper and anonymously by using Bitcoin. On the other hand, you will be able to buy some ...

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