What is bitcoin and how will you earn from mining

Asked By Paul Hendrick 0 points N/A Posted on - 02/10/2015

What is bitcoin and how will you earn on this. And what is the status of bitcoin today, where will i buy those machine and why is that they are very expensive.

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Answered By Johnny Walter 0 points N/A #194546

What is bitcoin and how will you earn from mining

 A BitCoin is a form of digital currency. It is the first distributed peer-to-peer payment system that is ran by its user with no authority or middleman.

You need to have a BitCoin Wallet where you can store your coins. You need also to download the Bit Coin client. To earn bitcoins you need to join a group or for this instance they call it “Pool.” A pool is a group that combines computing power to make more bitcoins. Bitcoins are awarded in blocks or paid by batch. Your payment will be based on the algorithms you solve and provide.

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• Posted on - 03/22/2015
• Question Category: Windows 64-bit