In this section you can find answers to your questions, and get information about Bitcoin, and its mining. If in this section, you cannot find answer to your question, please contact customer service.
One cannot receive a clear answer without a clear formulation of the question. Unclear question generates unclear answers.
Bitcoins, cryptocurrency, electronic money - it is a unique monetary unit in its own way, which was developed by analogy with gold. The main characteristics of currency are:
• no of control of the Governing Bodies.
Its price is determines by consumer demand. Since 2009, Bitcoin value increased up to a million times. For several years, the price of Bitcoin has been steadily growing in leaps and bounds. Periodically sharp ups of monetary value diluted by a slight decrease, and then again there is a rise in price of cryptocurrency. By the end of 2016 is projected to total capitalization of the currency up to a trillion times.
Bitcoin can be called e-gold era, because this currency is a direct analog of gold, which has all of its properties, including financially. Transactions mechanism of Blockchain is executed so perfectly that it is impossible to hack or spoof. Transactions are combined into blocks that form a chain. Transparency is another feature of this system. You can always check by whom and where the money went, and their further movement. Another thing is that it all takes place anonymously, because the user does not specify his personal data, but is obliged to keep an electronic signature.
The name of previous block is stored in each block. So the entire transaction history can be tracked manually.
In order to check the block hash it requires a couple of seconds, but a lot of time for generating it.
Miners - are those who generate the blocks. After that they are sealed. For this work, miners are rewarded with coins. Mining is possible only on advanced and powerful equipment – such as Asik. The speed and success of the task depends on equipment power, as well as the block closure and miner’s profit.
In order to earn money in our Company, the user necessarily have to create a Bitcoin wallet.
You can create off-line and online wallets. In the first case, you have to install it on your device. This requires not only wallet maintenance, but also download the entire chain, checking its authenticity, etc. Its advantage is the protection against the Internet attacks. However, responsibility for its maintenance, protection and preservation of completely rests on you.
In this regard, more practical are online wallets that only require to memorize and save the data at the registration. However, they have less protection against hacker attacks.
No matter what kind of wallet you decide to create, you should remember that Bitcoin – is a decentralized system, so you need to be concerned about the safety of your login and password, as if you lose or forget them, no one will help you to restore the data.
Mining - is Bitcoins production. However, this is only the tip of the iceberg, because the award is the result of the successful closure of the block. Mining - is the solution of highly complex computational problems. Previously Mining could be done with a powerful processor by one person. At the moment it is profitable to create servers and farms for mining because only a very powerful equipment with strong graphics cards, which were later replaced by ASIC devices can produce Bitcoins. The production complexity is constantly growing and the number of coins is reducing proportionally.
Using graphics cards for Bitcoin mining, or other Litecoins, Fork coins is not appropriate with the introduction of the scripting ASIC devices.
Mining costs - are special powerful machinery, electricity and a permanent connection to the Internet.
Payback of the equipment takes about 4-7 months depending on its quality and performance.
In connection with Bitcoin halving in 2016 the payback period increased to 7 months. This is without taking into account the growth of Bitcoin exchange rate in September.