Bitcoin mining

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Bitcoin mining: Profitable or not?
Can you just keep your system on and earn money? Yes you can with Bitcoin. Bitcoin is a Digital currency created in 2009, according to wikipedia. One Bitcoin is equal to about 345 Dollars at the time of writing this blog. And only a latest computer is required to generate this digital currency, in other words, revenue...Is this really true? Is this a new way to earn money while at home? Can money be earned just by keeping your computer on?

Is it true?

Yes, the process is called mining. You install a program downloaded from bitcoin website or 3rd party sources, make a free account and just keep that software running and it will generate bitcoins, which have a value of $345 Dollars per bitcoin. But is it that simple?

The concept of mining:
You keep your computer on all the time and a calculation will be done on your compute and when it gets solved you are paid bitcoins. The calculation is in the form of blocks, solving one block will yield 50 bitcoins. But the time it takes to solve one block depends on speed of your system.

What you need to generate bitcoins?

Just a fast latest computer hardware with enough speed in terms of Mhash/sec. Either CPU or GPU can be used.



About the author

mi-rqsm

I always try to be a good person for everyone and try to be helpful to everyone as much as possible. Running my personal business after doing my degree... Love reading writing and spending some good time alone.

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