Tuesday, June 27, 2017

More about Bitcoin Mining

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MIning for bitcoin

https://www.eobot.com/new.aspx?referid=6121


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.


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Wednesday, June 21, 2017

My blog GBMM's priority is bitcoin

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.  

Let us try to explained bitcoin the simple way ; 




TOP 10 BITCOIN FACTS ; 

 
    
Will update developments about bitcoins ...
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Tuesday, May 30, 2017

Use my updated bitcoin list

Since the bitcoin value amounted to $2000 going now to $3000 i am now using my list some old list and adding new list to earn more of bitcoin. So if you need to earn satoshis or bitcoin used my list. I am now updating my list , checking the non- active , not paying and other features of the bitcoin websites.   😐

I am not posting bitcoin sites that are no longer active which are on my list before. I am also posting new bitcoin sites to give you and me free bitcoins. Since its only a few days that i'm starting to check my bitcoin sites, i still have to see what sites are really paying. I already encountered sites that you have to reach a minimum number of satoshis before you can cashout. Cashout direct to your bitcoin wallet would really need a bigger number of bitcoins, or you have to go to mini wallet like ego.pay, faucet systems and others to stack small amount of bitcoins and in order to place the bitcoins that your collecting to reach the minimum payouts to your wallet. In my 3 days of using my list i saw big amount of satoshis that are still active on my list though still needed to add up more and activated, i also saw that there are referrals which are not active. So you can "use my bitcoin site list" to earn bitcoins FREE. 

FREE BITCOIN SITES/LINKS  VISIT SATOSHIS REFS WITHDRAWALS/CO





https://freebitco.in/?r=3107  5/30/2017 7294 4 30,000BTC min  Sunday 
http://claimbtc.com/?r=cb34ddc7f8
16, 613 8 20,000 to wallet 
http://www.bitcoinget.com/?r=1AAVSh9XaZiPFGo5iBfQQN6S3LgVJPELSi 5/30/2017 46 bits  0 1000 bits for payout
              http://worldofbitco.in/215271 5/30/2017 50 0 50 to epay or faucet sys
           http://timeforbitco.in/333425          5/30/2017 115 0 20,000 to payout  epay 
           http://xbit.co.in/faucet/?r=1P1hDfxNvutwdRJEvuDh6qBYvcijeM77jZ 5/30/2017 40 0 40 faucet system 
           http://weatherx.co.in/245737 5/30/2017 233.8 0 10,000 balaNce to cashout
           http://sunbtc.space/284077 5/30/2017 452 0 20,000  faucet sytem
            http://chronox.co.in/358745 5/30/2017 448 0 20,000  faucet system
http://epay.info/rotator/1903045 5/30/2017 335
0.0001 payout to wallet





 http://bonusbitcoin.co/?ref=29E936CF37A5   5/30/2017 7810 1  50k no fee bit wallet
http://dailyfreebits.com/?id=46734 5/30/2017 30 8 500 last payout to epay.com 
http://fieldbitcoins.com/?ref=fc5fvq3616  5/30/2017 1971 0 10,000 to withdrawa on epay
http://moonbit.co.in/?ref=779ac566780e 5/30/2017 19,117 3 25,000 satoshis to wallet 
http://www.scratch4satoshis.com/?r=688 5/30/2017 968 8 10, 000  xapo or ifaucet





http://ifaucet.net/?ref=67736



https://bitcoinker.com/?r=1AAVSh9XaZiPFGo5iBfQQN6S3LgVJPELSi 5/30/2017 447 0 20,000 satoshis to wallet 
http://treebitcoin.com/?Referrer=2660  5/30/2017 2001 0 15,2000 bitcoins to wallet
http://777bitco.in/?Referrer=28899  5/30/2017 50 1 25,000 bitcoins to wallet 
http://bitcoinx.co.in/19625  5/30/2017 18, 394 2 20,000 to faucet system
http://referbitcoin.com/?r=14553  5/30/2017 965 0 60,000 satoshis to wallet        


















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Thursday, May 25, 2017

Checking again my former bitc generating sites

I see again that there were still a lot of  bitcoin generating sites that are still active today and they should be because the bitcoin value is really surging up high its  $2000 in value and  by the end of the week it will hit  $3000  , many are excited and are investing and buying bitcoins that is why it is going  up , for those who don't have  a lot of money just register here with FREE BITCOINS and your surely be having a lot by the year end and the following years.

Checking my latest bitcoin generating sites some are generating funds and probably cannot cope up with demands because every day and weeks the value are changing , if you registered on mine links just sms me here in comments if you have problems , there are lots of bitcoin generating sites that are free though i find it hard to surf all, later i will post investment sites no need to surf. 

Here are the sites that you could register and get free bitcoins !! GET IT NOW  




http://faucethub.io/r/472802  ( faucet hub is a micro-wallet for bitcoins, lite coins and dogecoins . It also has faucets which it operates offers about 912 are active so far . It also offers to you to have your own faucet. It also have games and rewards you with bitcoins.  Your surely have a lot of coins.

FaucetHub is operated by Faucet Gaming Network, the owners of FaucetGame.com, PokeBits.com, GameFaucet.com and BlockFaucet.com among others.  

  
    

                       http://www.scratch4satoshis.com/?r=688    
  


     


http://www.bitcoinaliens.com/faucet?ref=10201137021943545

  ( the site can be downloaded on your phone or tablet and you can play with it everyday and gives your free bitcoins games are BITCOIN ALIENS,  ABUNDANCE FREEBITCOIN and BLOCKCHAIN GAME ) 


Have you checked out Bitmaker app? Sign upwith my code and we will each get 6,000 blocks when you try it . CODE OU4NLD ,   https://goo.gl/U4c1GJ


>E Pay.com rotator  this is a rotator which means that you can get more bitcoins in one link. It is also a sub grouping of faucets where micro payments could be established before being paid or transferred to the blockchain wallet.  What is also good with this site is that you can include the faucet or site that you want to include with the list.  

It serves bitcoins , litecoins, dogecoins, dashcoins, monero faucets, peercoin faucets, primecoin faucets and ethereum faucets.  

 

 http://bitcoindownlines.com/index.php?bitcrefs 

( a site for getting downlines just register on site put your links promote and wait for your referrals ) 

      

 
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Sunday, May 21, 2017

Updating my blogsite regarding bitcoins




As of this writing  bitcoin is now on its highest value with dollar  it had reached  $2052.00 .  I have started to be involve with bitcoin way long ago about 2014  when bitcoin value is only a few hundred dollars  gradually its getting higher every year  higher.  A lot of controversies also are being hurled with bitcoin. Now everybody wants to have their hands on the big pie.

I was also not heavily involved with bitcoins since i am with other programs like paid to click, revenue programs and i am only active when i am not working.  With the latest problem of stalled revenue sharing programs which are all losing  i think its high time to take care of the bitcoin business. Time lost  though i have a small amount of bitcoin in  my blockchain , i could easily make it grow more. 

 The initial step is to update my sources of bitcoin , which are  Affordable,  Easier and Faster here is the link  ;


I also will update this blogsite to discuss mainly about bitcoin as you all know there are also others coins even you can created your own bitcoin name but it had to be popular like ;
 dogecoin , litecoin , ethereum, and more are joining the bandwagon of bitcoin. 

I also have the idea of giving important notes regarding bitcoin particularly for those new enthusiast with these phenomenal money internet money "bitcoin". 

So initially , what you have to do  is get your bitcoin wallet with its address  like  this  

                                 1AAVSh9XaZiPFGo5iBfQQN6S3LgVJPELSi

You can get this by registering on blockchain , follow the instructions regarding registration and  keeping your wallet address  safe and secure . 

Then visit my blogsite and register with many faucets to start getting your bitcoins and earn. Check your blockchain for your bitcoins. 

Later i would share more faucets or other sources of  bitcoins there is still a lot of time to earn with bitcoins  its projected to reach  about $10,000 / bitcoin , do you like that , im sure you will 


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Friday, May 12, 2017

Bitminer.io is it a scam ?


BitMiner - free and simple next generation Bitcoin mining software



Bitminer.io  is a mining site for bitcoin and it promised to earn you bitcoins of 0.15 per day and the affiliates earns you 50% ,  so this attracted me to register but not invest yet  because i am on the thinking that i have to try this site first and see what happens . 




The image above shows that for more than a month i already have a balance of  0.07  and actually i had  tried to  withdraw two times  but the admin says that i have to wait for a month . So i cancel my request for withdrawal  for two times.  But they are suggessting me to upgrade so it would be much faster to withdraw.  

 But  at this moment when i feel that i have to withdraw my bitcoin , theres a new findings that they say  that i have two accounts which are free and i can only have one free account then the other have to be upgraded  so  i think  this site is  so close to scamming or  its really a scam.  I already encountered such a kind of scheme , where you put a certain amount of bitcoin and they will double it , this one is different in the sense that  its mining but if you search on mining you cannot earn that much  in a day for a bitcoin mining site. 

 So sorry for the referrals that had registered on my links with this bitminer ,  just keep on reading my post and  bitcoin system had a lot for the future.  There are other sites that will give you free bitcoins if not invest and earn more. 



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