The video is about a member who finds the hash rate with eobot.com higher , so he is planning to look for other sites that have lower hashing rates which he recommends. He will only be back with eobot.com if the hash rate vale goes down. It is probably one reason why the result of my 24 hour rental for cloud mining hash rate decreases not increases . Comments on his video should also be taken into account , some says that other cloud mining sites are scams and why go away from eobot , this site had been online for about three years and it had no problem . The cloud mining sites he is recommending are the following , it is also good to consider Kevin's Channel which also recommend same site as the first video above.
As you all know i am again starting to be active with Eobot.com . The fist thing i did was to visit the faucet and get some satoshis which i had done and the number of satoshis went up from 87,601 to 87,819 which is an increased of 218 where the latter was the satoshis from the faucet. Now since i could not purchased hash using my credit card , i used my satoshis numbering 87,819 to buy a 24 hour rental of cloud 256 ;
My bitcoin and the value of bitcoin before this purchased was this;
Now the result of the 24 hour rental is this ;
Its a decrease not an increase from the number of btc from the total of 87819 - 74592 its a decrease of 13, 227 the value of btc from $2.315 to $1.902 a decrease of 0.413 . So what had just happened was that the purchase was not studied well instead of earning its a loss.
The lesson now is study the purchased of cloud hash , the visit and getting of free bitcoins is ok but not the purchased of cloud hash.
The faucet of eobot.com could be included in the list of visited bit sites also with faucet while purchased of cloud hash is being studied.
On the latest articles about Eobot.com , i had shown you what is bitcoin mining or other crypto currency mining. I wanted to be active again with bitcoin or with other currencies so i started with getting free bitcoins with my former bitcoin sites and its on going and updating heres my link http://generatebitcoinmakemoney.blogspot.ca/p/earn-bitcoins-easy-way.html . These are the list of bitcoin sites where you can get free bitcoins from apps on cellphones and bit sites on the net using your computer.
I had also informed you about eobot.com and my latest status with this mining site. I had accumulated satoshis about 87, 601 but had increased the day i visited cause i click on the faucet. The amount could not be withdrawn to my bitcoin wallet since it is not 0.002 satoshis so i need to purchased a hash plan but still i cannot used my credit card because the site will activate cards after a week more. The only way to activate more with eobot.com is use my satoshi balance and the way to do it is buy a hash plan..
What i purchased was Cloud SHA-256 4.0 which is a 24 hour rental of the hash which i could probably raised the number of satoshis for a day . As of this writing the number of satoshis is about 52.148 whose amount is about $1.3 and it will expire on 7:20 pm today. I just did this to try if the satoshis will increase and be active again with eobot.com .
What is clear to me now is that visiting and clicking on the faucet will give additional bitcoins to my account and later the total satoshis in my account could buy hash rates with the short time about 24 hours later it would increased to more than a day. Follow me for your bitcoins here are the links ;
With the last 2 articles that i had posted , maybe you already have the idea of the "bitcoin mining" and now i want to introduce to you the real mining bitcoin site. Before they are using hardwares and software for their mining , i even had downloaded their software to mined bitcoins on my computer but later on had given up the method. Now they are on a "cloud mining" where in the latest article on bitcoin mining it was explained what cloud bitcoin mining is all about.
Here are the latest bitcoin currencies that "eobot.com " is mining ;
So on the site you can choose what bitcoin currency you want to mined , for me i started with bitcoin before and until now it is still bitcoin that i will be focusing. When i stop being active with "eobot" as you can see on the picture i have already 87,601 bits or 0.00087601 bitcoins. This can already be withdrawn to my bitcoin wallet though the automatic withdrawal is about 0.0200 bitcoins .
The minimum for withdrawal is 0.002 so we still have to reach the amount to withdraw it on my wallet, it can be automatic of manual.
What we need to do to have again new bitcoins and reached the value of minimum withdrawal ?
> If you like to have bitcoins on your own account , just register with my links
The new feature of eobot.com has its own faucet , so just visiting the faucet and solving the captcha , it will give you free bitcoins , adds up to your total
To find the faucet just click on the " Products" , then click on faucet follow instructions . My visit just give me 218 bits.
> Mining before was free , though to have more and be fast with bitcoins buy plan but for mining using your computer follow this ;
>There are other features from eobot.com aside from mining like cloud SETI ( search for extra torrestial intelligence ) , cloud folding , mining pool, redeeming and the faucet . Just click on the Products to learn more about this
On my next article i will post about the developments regarding my eobot.com , i will probably download again the software and or buy cloud hashing plans , keep on reading and clicking .
When i registered with "eobot.com" in December 2014 i knew it is a mining site that mined bitcoin and other currencies. But first let me clarify why bitcoin had to be mined , is it like gold that has to be mined and with the rareness of "gold" that is why it is very expensive. Gold is mined through the earth a deep one to get that precious gold but "bitcoin" why it has to be mined ?
https://www.bitcoinmining.com/
From the video there are lot of informations about bitcoin mining and why there are miners. The video is from bitcoinmining.com so if you need information on mining this the place to get it.
How Bitcoin Mining Works
Where do bitcoins come from? With paper money, a government decides
when to print and distribute money. Bitcoin doesn't have a central
government.
With Bitcoin, miners use special software to solve math problems and
are issued a certain number of bitcoins in exchange. This provides a
smart way to issue the currency and also creates an incentive for more
people to mine.
Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain.
This ledger of past transactions is called the block chain as it is a
chain of blocks. The block chain serves to confirm transactions to the
rest of the network as having taken place.
Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
Bitcoin mining is
intentionally designed to be resource-intensive and difficult so that
the number of blocks found each day by miners remains steady. Individual
blocks must contain a proof of work to be considered valid. This proof
of work is verified by other Bitcoin nodes each time they receive a
block. Bitcoin uses the hashcash proof-of-work function.
The primary purpose of mining is to allow Bitcoin nodes to reach a
secure, tamper-resistant consensus. Mining is also the mechanism used
to introduce Bitcoins into the system: Miners are paid any transaction
fees as well as a "subsidy" of newly created coins.
This both serves the purpose of disseminating new coins in a
decentralized manner as well as motivating people to provide security
for the system.
Bitcoin mining is so called because it resembles the mining of
other commodities: it requires exertion and it slowly makes new currency
available at a rate that resembles the rate at which commodities like
gold are mined from the ground.
What is Proof of Work?
A proof of work
is a piece of data which was difficult (costly, time-consuming) to
produce so as to satisfy certain requirements. It must be trivial to
check whether data satisfies said requirements.
Producing a proof of work can be a random process with low
probability, so that a lot of trial and error is required on average
before a valid proof of work is generated. Bitcoin uses the Hashcash
proof of work.
What is Bitcoin Mining Difficulty?
The Computationally-Difficult Problem
Bitcoin mining a block is difficult because the SHA-256 hash of a
block's header must be lower than or equal to the target in order for
the block to be accepted by the network.
This problem can be simplified for explanation purposes: The hash
of a block must start with a certain number of zeros. The probability
of calculating a hash that starts with many zeros is very low, therefore
many attempts must be made. In order to generate a new hash each round,
a nonce is incremented. See Proof of work for more information.
The Bitcoin Network Difficulty Metric
The Bitcoin mining network difficulty
is the measure of how difficult it is to find a new block compared to
the easiest it can ever be. It is recalculated every 2016 blocks to a
value such that the previous 2016 blocks would have been generated in
exactly two weeks had everyone been mining at this difficulty. This will
yield, on average, one block every ten minutes.
As more miners join, the rate of block creation will go up. As
the rate of block generation goes up, the difficulty rises to compensate
which will push the rate of block creation back down. Any blocks
released by malicious miners that do not meet the required difficulty
target will simply be rejected by everyone on the network and thus will
be worthless.
The Block Reward
When a block is discovered, the discoverer may award themselves a
certain number of bitcoins, which is agreed-upon by everyone in the
network. Currently this bounty is 25 bitcoins; this value will halve
every 210,000 blocks. See Controlled Currency Supply.
Additionally, the miner is awarded the fees paid by users sending
transactions. The fee is an incentive for the miner to include the
transaction in their block. In the future, as the number of new bitcoins
miners are allowed to create in each block dwindles, the fees will make
up a much more important percentage of mining income.
In my involvement with bitcoin since 2014 i knew that there will be other crypto currencies like dogecoin, litecoin ,permacoin and many other crypto's . This crypto's are trying to beat up bitcoin but they could not surpassed what bitcoin had already done in the whole world. Generatebitcoinmakemoney blog site will be devoted to "bitcoin" though there are sites like the micro wallet that are also handling crypto's so we cannot separate them if we are going to be discussing about bitcoins. MY blog GNMM's priority is still bitcoin . But if we will be posting articles related to other crypto's then i would recommend my other blogsite like cryptocurrencyrevolution.blogspot.ca .
In relation to our new involvement with "bitcoin" we have to be aware and knowledgeable about what bitcoin is , where it originated , how it developed, the problems encountered with this new currency and its present status. I am not a techie but through research and self studies we could learn about this new money on the net.
Note: Even if your just starting we could earn and learn . So register with bitcoin sites to earn bitcoins then read about bitcoins , news and other developments in order to be updated. Learn new tricks to earn more. Be careful to be trapped into scams , i have experienced scam bitcoin sites especially those who are offering to double or triple your bitcoin earnings.
Where did bitcoin came ?
Bitcoin was created by Satoshi Nakamoto, who
published the invention on 31 October 2008 to a cryptography mailing
list in a research paper called "Bitcoin: A Peer-to-Peer Electronic Cash System". Nakamoto implemented bitcoin as open source code and released in January 2009.
So from 2009 to this year 2017 bitcoin is still alive and having a great value as compared to
gold and dollar . It is still had to be proven its worth , its barely seven years from only a script for the internet with no value whatsoever it had grown now to a value of $ 2,669 per US dollar.
What is this bitcoin and how come its being patronize ?
So bitcoin is being recognized and intended to be a digital currency. Currency like dollar is being used for the purchase of services and goods where the dollar could be in the form of paper and coins but you could also use now cards , ATM , cheque and wire to transfer your money. Since "bitcoin" is a script it can only be used online or with the internet but since the onset of the internet which is worldwide "bitcoin" can reached anywhere and its handy, simple and there are peculiar characteristics that it can do where the paper and metal money could not do.
