Fastest Bitcoin Miner 2016 – South Africa

On Fastest Bitcoin Miner 2016 – in South Africa have become a very well known and popular question over time. OK, so what’s Bitcoin?

It’s not an actual coin, it’s “cryptocurrency,” a digital form of payment that is produced (“mined”) by lots of people worldwide. It allows peer-to-peer transactions instantly, worldwide, for free or at very low cost.

what is bitcoin

Bitcoin was invented after decades of research into cryptography by software developer, Satoshi Nakamoto (believed to be a pseudonym), who designed the algorithm and introduced it in 2009. His true identity remains a mystery.

This currency is not backed by a tangible commodity (such as gold or silver); bitcoins are traded online which makes them a commodity in themselves.

Bitcoin is an open-source product, accessible by anyone who is a user. All you need is an email address, Internet access, and money to get started.

Is Bitcoin A Good Investment?

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Bitcoin is mined on a distributed computer network of users running specialized software; the network solves certain mathematical proofs, and searches for a particular data sequence (“block”) that produces a particular pattern when the BTC trading is applied to it. A match produces a bitcoin. It’s complex and time- and energy-consuming.

Only 21 million bitcoins are ever to be mined (about 11 million are currently in circulation). The math problems the network computers solve get progressively more difficult to keep the mining operations and supply in check.

This network also validates all the transactions through cryptography.

How Does Bitcoins work?

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Internet users transfer digital assets (bits) to each other on a network. There is no online bank; rather, Bitcoin has been described as an Internet-wide distributed ledger. Users buy Bitcoin with cash or by selling a product or service for Bitcoins. Bitcoin wallets store and use this digital currency. Users may sell out of this virtual ledger by trading their Bitcoin to someone else who wants in. Anyone can do this, anywhere in the world.

There are smartphone apps for conducting mobile Bitcoin transactions and Bitcoins exchanges are populating the Internet.

How is Bitcoin valued?

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Bitcoin is not held or controlled by a financial institution; it is completely decentralized. Unlike real-world money it cannot be devalued by governments or banks.

These cashless transactions are fast and the processor can convert bitcoins into currency and make a daily direct deposit into the establishment’s bank account. It was announced in January 2014 that two Las Vegas hotel-casinos will accept Bitcoin payments at the front desk, in their restaurants, and in the gift shop.

It sounds good – so what’s the catch?

Business owners should consider issues of participation, security and cost.

• A relatively small number of ordinary consumers and merchants currently use or understand Bitcoin. However, adoption is increasing globally and tools and technologies are being developed to make participation easier.

• It’s the Internet, so hackers are threats to the exchanges. The Economist reported that a Bitcoin exchange was hacked in September 2013 and $250,000 in bitcoins was stolen from users’ online vaults. Bitcoins can be stolen like other currency, so vigilant network, server and database security is paramount.

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• Users must carefully safeguard their bitcoin wallets which contain their private keys. Secure backups or printouts are crucial.

• Bitcoin is not regulated or insured by the US government so there is no insurance for your account if the exchange goes out of business or is robbed by hackers.

• Bitcoins are relatively expensive. Current rates and selling prices are available on the online exchanges.

The virtual currency is not yet universal but it is gaining market awareness and acceptance. A business may decide to try Bitcoin to save on credit card and bank fees, as a customer convenience, or to see if it helps or hinders sales and profitability.

Are you thinking about accepting Bitcoin? Do you already use it? Share your thoughts and experiences with us.

Looking for a Bitcoin Buying Guide? Wondering where to start? People have a lot of misconceptions about bitcoin – the very first widely known and accepted cryptocurrency worldwide.

A lot of people think for example that only hackers and shady people use it. However bitcoin is actually going mainstream with everyone from TigerDirect to Expedia.com to Dell and even Subway accepting payments in bitcoin now.

Buy Bitcoin Instantly With Debit Card

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Well, bitcoin has a lot of benefits over other currencies. For example, you can send bitcoins to someone as payment without having to go through the bank middleman (and get hit with extra fees). It’s also much faster than sending money via a bank wire or transfer. You can send bitcoins to someone and have them receiving the coins in seconds.

With all of this, it’s no surprise that many people are now trying to buy bitcoin for the first time. However it’s not as easy as going to your bank and withdrawing bitcoins – or going to a store and plunking down some hard-earned cash for bitcoin.

The system works a bit differently than that. This Bitcoin Buying Guide will go over a few things you need to know before you buy – so you can buy safely and securely.

Take your time and research the different places to buy before you decide. Factors to consider include coin prices, extra fees, method of payment and customer service.

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Once you’ve found a place to buy, get your funds ready (i.e. you may send a wire transfer or use your Visa to fund your account). Then wait for a good price. (Bitcoin prices are always fluctuating 24 hours, 7 days a week). Then place your order when you’re ready.

Once your order is filled and you have your coins, you’ll want to send them to your wallet. Simply enter your bitcoin address and get the seller to send you your bitcoins. You should see them show up in your wallet within minutes to an hour (depending on how fast the seller sends them out).

Voila, you are now a bitcoin owner. You can now send coins to pay for other goods and services, or hang on to them for a rainy day.

One last thing to remember: bitcoin is still in its infancy. There are huge price swings and the currency can be risky. Never buy more bitcoins than you can afford to lose.

Fastest Bitcoin Miner 2016 – in South Africa ?

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Bitcoin is a virtual currency. It doesn't exist in the kind of physical form that the currency & coin we're used to exist in. It doesn't even exist in a form as physical as Monopoly money. It's electrons - not molecules.

But consider how much cash you personally handle. You get a paycheck that you take to the bank - or it's autodeposited without you even seeing the paper that it's not printed on. You then use a debit card (or a checkbook, if you're old school) to access those funds. At best, you see 10% of it in a cash form in your pocket or in your pocketbook. So, it turns out that 90% of the funds that you manage are virtual - electrons in a spreadsheet or database.

But wait - those are U.S. funds (or those of whatever country you hail from), safe in the bank and guaranteed by the full faith of the FDIC up to about $250K per account, right? Well, not exactly. Your financial institution may only required to keep 10% of its deposits on deposit. In some cases, it's less. It lends the rest of your money out to other people for up to 30 years. It charges them for the loan, and charges you for the privilege of letting them lend it out.

How does money get created?

Your bank gets to create money by lending it out.

Say you deposit $1,000 with your bank. They then lend out $900 of it. Suddenly you have $1000 and someone else has $900. Magically, there's $1900 floating around where before there was only a grand.

Now say your bank instead lends 900 of your dollars to another bank. That bank in turn lends $810 to another bank, which then lends $720 to a customer. Poof! $3,430 in an instant - almost $2500 created out of nothing - as long as the bank follows your government's central bank rules.

Creation of Bitcoin is as different from bank funds' creation as cash is from electrons. It is not controlled by a government's central bank, but rather by consensus of its users and nodes. It is not created by a limited mint in a building, but rather by distributed open source software and computing. And it requires a form of actual work for creation. More on that shortly.

How can I spend it?

There are hundreds of merchants of all sizes that take BitCoin in payment, from cafes to auto dealerships. There's even a BitCoin ATM in Vancouver, British Columbia for converting your BTC to cash in Vancouver, BC.

And so?

Money has had a long history - millennia in length. Somewhat recent legend tells us that Manhattan Island was bought for wampum - seashells & the like. In the early years of the United States, different banks printed their own currency. On a recent visit to Salt Spring Island in British Columbia, I spent currency that was only good on the lovely island. The common theme amongst these was a trust agreement amongst its users that that particular currency held value. Sometimes that value was tied directly to something solid and physical, like gold. In 1900 the U.S. tied its currency directly to gold (the "Gold Standard") and in 1971, ended that tie.

Now currency is traded like any other commodity, although a particular country's currency value can be propped up or diminished through actions of their central bank. BitCoin is an alternate currency that is also traded and its value, like that of other commodities, is determined through trade, but is not held up or diminished by the action of any bank, but rather directly by the actions of its users. Its supply is limited and known however, and (unlike physical currency) so is the history of every single BitCoin. Its perceived value, like all other currency, is based on its utility and trust.

As a form of currency, BitCoin not exactly a new thing in Creation, but it certainly is a new way for money to be created.

Fastest Bitcoin Miner 2016 – in South Africa

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Bitcoin (BTC) is a new kind of digital currency-with cryptographic keys-that is decentralized to a network of computers used by users and miners around the world and is not controlled by a single organization or government. It is the first digital cryptocurrency that has gained the public's attention and is accepted by a growing number of merchants. Like other currencies, users can use the digital currency to buy goods and services online as well as in some physical stores that accept it as a form of payment. Currency traders can also trade Bitcoins in Bitcoin exchanges.

There are several major differences between Bitcoin and traditional currencies (e.g. U.S. dollar):

  1. Bitcoin does not have a centralized authority or clearing house (e.g. government, central bank, MasterCard or Visa network). The peer-to-peer payment network is managed by users and miners around the world. The currency is anonymously transferred directly between users through the internet without going through a clearing house. This means that transaction fees are much lower.
  2. Bitcoin is created through a process called "Bitcoin mining". Miners around the world use mining software and computers to solve complex bitcoin algorithms and to approve Bitcoin transactions. They are awarded with transaction fees and new Bitcoins generated from solving Bitcoin algorithms.
  3. There is a limited amount of Bitcoins in circulation. According to Blockchain, there were about 12.1 million in circulation as of Dec. 20, 2013. The difficulty to mine Bitcoins (solve algorithms) becomes harder as more Bitcoins are generated, and the maximum amount in circulation is capped at 21 million. The limit will not be reached until approximately the year 2140. This makes Bitcoins more valuable as more people use them.
  4. A public ledger called 'Blockchain' records all Bitcoin transactions and shows each Bitcoin owner's respective holdings. Anyone can access the public ledger to verify transactions. This makes the digital currency more transparent and predictable. More importantly, the transparency prevents fraud and double spending of the same Bitcoins.
  5. The digital currency can be acquired through Bitcoin mining or Bitcoin exchanges.
  6. The digital currency is accepted by a limited number of merchants on the web and in some brick-and-mortar retailers.
  7. Bitcoin wallets (similar to PayPal accounts) are used for storing Bitcoins, private keys and public addresses as well as for anonymously transferring Bitcoins between users.
  8. Bitcoins are not insured and are not protected by government agencies. Hence, they cannot be recovered if the secret keys are stolen by a hacker or lost to a failed hard drive, or due to the closure of a Bitcoin exchange. If the secret keys are lost, the associated Bitcoins cannot be recovered and would be out of circulation. Visit this link for an FAQ on Bitcoins.

Bitcoin will likely gain more public acceptance over time, but its price is extremely volatile and very sensitive to news-such as government regulations and restrictions-that could negatively impact the currency.

Therefore, I do not suggest investors to invest in Bitcoins unless they were purchased at a less than $10 USD per BTC because this would allow for a much larger margin of safety.

Otherwise, I believe that it is much better to invest in stocks that have strong fundamentals, as well as great business prospects and management teams because the underlying companies have intrinsic values and are more predictable.

Disclosure: Victor Liang has has no positions in Bitcoins and has no plans to change his position in the next 72 hours.

Bitcoins - Why you should not invest in 2018?

what is bitcoin

Everyone is curious as to what bitcoin is and how one gets to earn it and spend it. Bitcoin is the most famous and biggest digital currency in the world regarding market capitalization and the market share where there are no intermediaries to handle the transactions. Microsoft Co-founder, Bill Gates has a lot of faith in Bitcoin to the point of saying, "Bitcoin is a technological tour de force."

According to Leon Louw, a Nobel Peace Prize nominee, every informed person needs to know at least about bitcoin since it has the potential to become one of the world's most significant developments.

One can buy bitcoins directly from other bitcoin users via marketplaces or through exchanges, and one pays for them through hard cash, credit or debit cards, electronic wire transfers, other cryptocurrencies, PayPal, et al.

• Wesellcrypto: - This site ranks high, and it is beginner friendly. It has a trust rating of B+, and you can buy bitcoins via your PayPal account.

• Bitquick: - This site is also beginner friendly allowing users to buy and accept payments for bitcoins via hard currency as well as bank transfers. It has a trust rating of B.

With bitcoins, you can anonymously buy merchandise; make cheaper international payments since the Bitcoins are not subject to regulation from any country. The bitcoin market is very volatile and more people are buying them hoping to make a profit when the price goes up.

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The Bitcoin is a type of currency designed digitally and encrypted for verification of transactions of assets, and to control creation of currency; the name given to this type of currency is cryptocurrency. This worldwide famous currency was developed in 2009 by Satoshi Nakamoto. This Peer-to-peer electronic cash system was given the symbol XBT for market usage. As any other currency, the Bitcoin has its own unit system which goes from the millibitcoin (0.001) to the satoshi (0.00000001).

The design of the Bitcoin is extremely complex, but very reliable. First, one of the questioned subjects on this matter is its security. Believe it or not, Bitcoins are more secure than regular currency. The obvious thing is that, it cannot be stole physically, and although it can be stole electronically the following explanation will show you how hard it is to do this.

Bitcoins are already gaining acceptance worldwide. As now, Bitcoins can be used in over 100,000 institutions around the world and is expected to keep growing. Although the insecurity behind the fact that there is no governmental support makes it hard to believe that this will be the currency of the future, but watch out, it might impact the world.


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Directories-Online Have Investing In Bitcoin 2016 – List