FIVE THINGS YOU NEED TO KNOW ABOUT BITCOIN

Five Things You Need To Know About Bitcoin

What is Bitcoin? 

It is a digital currency that is created and exchanged independently of any government or bank. The currency is generated through a computer program and can be converted into cash after being deposited into virtual wallets. In 2008, a programmer known as Satoshi Nakamoto - a name believed to be an alias - posted a paper outlining Bitcoin's design and later in 2009 released software that can be used to exchange Bitcoins using the scheme. That software is now maintained by an open-source community coordinated by developers.

How does Bitcoin work?

It exists through an open-source software program and its supply is controlled by a computer algorithm. Once you download and run the Bitcoin client software, it connects over the Internet to the decentralized network of all Bitcoin users and also generates a pair of unique, mathematically linked keys, which you'll need to exchange Bitcoins with any other client. One key is private and kept hidden on your computer. The other is public and a version of it dubbed a Bitcoin address is given to other people so they can send you Bitcoins. The process of generating Bitcoins is quite complicated and involves solving complex algorithms and sharing the solution with the entire network. The "mining" is very computationally intensive and requires powerful computers.

How to transfer Bitcoins?

When you perform a transaction, your Bitcoin software performs a mathematical operation to combine the other party's public key and your own private key with the amount of Bitcoins that you want to transfer. The result of that operation is then sent out across the distributed Bitcoin network so the transaction can be verified by Bitcoin software clients not involved in the transfer.

How to trade Bitcoins?

Exchanges like Mt. Gox provide a place for people to trade Bitcoins for other types of currency. Payments to a merchant who accepts Bitcoins are made from the wallet application, either on your computer or smartphone, by entering the recipient's address, the payment amount. At the end of August 2013, the value of all Bitcoins in circulation exceeded $1.5 billion with millions of dollars worth of Bitcoins exchanged daily, according to Bitcom website.

Who controls the Bitcoin network?

It is controlled by all Bitcoin users around the world. While developers improve the software, they can't force a change in the Bitcoin protocol because the virtual currency can only work correctly only if there is a consensus among all users.

To Infinity and Beyond! Bitcoin Tops $1000

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Cloud Mining

Cloud mining or cloud hashing is a brand new concept, which allows users to form groups (pools), where their joint efforts are rewarded with greater income, in comparison with individual mining with own equipment.

Now, everybody can earn additional income with little to no risk and frequent payouts.

All mining is done in the cloud, without any offline hassle, such as electricity, hosting issues, or installation and upkeep trouble.

CEX.IO – is a first commodity exchange company which offers cloud mining combined with a powerful commodity exchange.

Our mission is to create a great environment for users to be able to trade GHS, as well as establish a fair market price for the mining equipment.

With Cloud hashing - you can forget about the most frequent mining problems, such as:

• Massive electricity consumption,
• Constant connectivity issues,
• The need to provide cooling and space
• Annoying noise from the hardware
• etc.

With CEX.IO you can forget about setting up or maintaining the hardware, as it is handled by professionals in the data-centre.

We also guarantee a stable hash-rate of the mining equipment. Even in rare cases, when there are problems with the GHS - CEX.IO takes the obligation to reimburse all losses within 24 hours.

You can choose either to generate income by cloud mining, or you can trade on the GHS price variation.

The best feature of CEX.IO is that even when you have placed a “sell order” to sell your GHS - those GHS continue to mine in the cloud and generate income for you.

The registration takes up to 30 seconds, and as soon as there are funds on your account - you can start buying or selling GHS.

The entire profit from the mined block is divided among all the members of the GHash.IO pool, according to the PPLNS scheme.

CEX.IO handles all your electricity or ISP problems, equipment hosting issues and installation difficulties.

We provide 24/7 support service, which allows users to receive assistance whenever they need it.

Cloud mining with CEX.IO is an easier, more convenient and vastly more profitable way to get Bitcoins.

All hash-rates are guaranteed, and there is always an option to sell the equipment at a market price.

Your participation as a member of the CEX.IO exchange allows the company to expand the Bitcoin Cloud Mining concept all over the world.

We advise you to become a member of the CEX.IO exchange platform as soon as possible.

Current Cloud Mining Stats

Current Cloud Mining Stats

All earned hourly from using the following sites:

Freebitco.in - Earn varying amounts of Bitcoin depending on your luck!

MMOclub.com Faucet - No signup necessary.

Dailyfreebitcoin.com Faucet - Claim Hourly.

bitvisitor.com - Enter your bitcoin address.

How To Start Earning Bitcoin

What is bitcoin? 

Bitcoin(BTC) is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros; they’re produced by lots of people running computers all around the world, using software that solves mathematical problems. It’s the first example of a growing category of money known as cryptocurrency.  To learn more click here.

How can I buy bitcoin?

You can buy bitcoins from regulated exchanges, or directly from other people selling them, either online, or on the street. You can pay for them in a variety of ways, ranging from cash to wire transfers, depending on who you are buying them from.

Getting Started

Step by Step Guide

1. Get a BTC wallet by signing up at CEX.io
2. Start collecting bitcoins by signing up and using this collection of faucets!
3. Visit here hourly to earn BTC - Freebitco.in
4. Mine - Buy - Sell BTC
1. Mine - Cloud Mining with CEX.IO excludes ISP issues, hardware dependence, space and upkeep, the need for cooling devices and delivery delays.
2. Buy - You can start buying GHS and mining for Bitcoins right after you sign up.
3. Sell - GHS are liquid and always in demand. You may sell them at any moment.
5. Transfer BTC to your exchange to cash out.