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How to Mine for Bitcoin Without Damaging the Environment

Essentially, it seems like being able to mine Bitcoins without causing any environmental damage is impossible. Mining Bitcoins from home requires colossal quantities of energy, on a 24/7 basis. Some have even said that bitcoin mining could consume as much energy as Denmark by 2020. However, with the value of Bitcoin rising on almost a daily basis, it is becoming less and less affordable to ordinary people- and this has resulted in more and more people choosing to try and mine Bitcoins from home instead, as a cheaper alternative. We can’t stop people from mining their own Bitcoins- but how can we mine for Bitcoins without damaging the environment? Well, we can’t stop damaging the environment altogether, but we can massively reduce the impact mining has in one simple way- do it less. Now, this might be frustrating for Bitcoin miners to hear, because it does take an incredibly long time to earn even 0.01 BTC let alone one whole Bitcoin. It can take weeks, months, sometimes even a year if not more to make one whole Bitcoin with mining software left on 24 hours a day, seven days a week. So to be told to mine less is definitely not what anyone who is into mining their own Bitcoins is not going to be received well. However, turning the machines off for even just one day a week would have a drastic impact on how much energy is being used- and in turn, would help contribute to less environmental damage. A less popular alternative that costs a little bit more is to use alternative sources of energy in your home, such as getting solar panels installed. If you use the solar power, it will have a far less damaging effect on the environment and would still allow you...

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How to Mine for Bitcoin

If you are new to the world of Bitcoin, you might be pleased to know that mining for Bitcoin does not involve pickaxes and caves, and in fact, doesn’t even need to involve leaving your house as long as you have the right equipment. Mining is just the term used to describe the process of finding newly released Bitcoin on the block chain. It used to be much simpler and only require a computer and the internet, however as it has become more popular and competitive, you would be better off with an ASIC miner, or a special computer which is intended for mining Bitcoins. Before you even think about mining for Bitcoin, it is vital that you get yourself a Bitcoin Wallet. Of course, as with most things Bitcoin related, this is entirely online and is simply a place where your Bitcoins are kept. You are given both a private and public address or key to allow money to be moved into and out of your account. Once you are all set up with your wallet, it is time to join a safe and trusted bitcoin mining site. This is the best way of mining Bitcoin as you work collaboratively with other miners and share your recourses to hopefully make more bitcoins. As tempting as it may be to go it alone, it is very unlikely that you will be awarded a block of Bitcoins (around 12.5 each time) on your own – teamwork is the way! Being part of a team means solving smaller, more simple algorithms, which together will go towards solving the much bigger, main algorithm. You are awarded based on your contribution, and this is the best way to receive a good return on your investment. Of course, choosing a mining pool isn’t simple,...

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What is Gambling on the Blockchain?

Blockchain is the name of the technology behind digital currency, Bitcoin. It is a brand new kind of technology that, before Bitcoin was introduced to us, no one had ever heard of before. The ins and outs of this new technology are actually very complicated, but they have allowed us to make some very exciting developments using blockchains. One of the things we can do now is gamble on blockchains. It sounds very complicated, but let us break it down… Blockchains are fancy databases. Generally, databases are overseen by at least one person, but when it comes to blockchains- or in this case, one particular blockchain known as Bitcoin- they’re overseen by no one. This means that the blockchain is decentralized. Because it’s decentralized, its tough for it ever to be altered or messed about with by anyone, and this boosts its trustworthiness. You’ll find plenty bitcoin casino sites use their own type of blockchain in order to ensure the safety of their customer’s funds. Gambling on a blockchain such as the Ethereum blockchain comes with a lot of positives. It means that your money never goes through any third parties; it goes straight from the blockchain to your bank account, meaning that its more secure than playing through an ordinary online casino or gambling site. You can also download an Ethereum wallet to aid this, so you don’t have to use another online e-wallet. Furthermore, as previously mentioned no one can just dabble in the code of the Ethereum blockchain, which means if you gamble on it you know that no one is going to alter the code and try to commit fraud or mess around with the money you’re spending/making. Gambling on the blockchain is more secure and more trustworthy and is growing quickly in popularity because of...

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Understanding the Different Units of Bitcoin

Bitcoin hasn’t even been around for ten years yet, and so the whole concept of the digital currency is still a new one. It’s actually quite complicated to understand, because Bitcoin is broken up into several different units- in a way, similar to the way British money has pence and pounds, and American money has cents and dollars, but also quite different too. Confused? Don’t panic! Here’s the easy guide to understanding the various units of Bitcoin. There are three major Bitcoin denominations to know about. These are as follows: Bitcoin (BTC)- This is one full Bitcoin. MilliBitcoin (mBTC)- One thousandth of a Bitcoin. MicroBitcoin (uBTC)- One millionth of a Bitcoin. It’s hard to give each denomination a set value because the value of Bitcoin changes on almost a daily basis. For example, a few years ago one whole Bitcoin was worth a couple of hundred pounds. Today, one whole Bitcoin is worth around £1,000. Yep, bitcoin is worth a lot! Currently, one MilliBitcoin is worth about 15p and is the most common denomination used when making purchases with Bitcoins. uBTC is more often than not too small of a denomination to use for anything, and it’s very rare for anyone to have one whole Bitcoin as most people can’t afford it, so mBTC is the denomination most commonly used. It is worth remembering that at the moment, Bitcoin can be broken down to eight decimal places. However, this may change with time. There was only ever 21 million Bitcoins created, and no more will ever be made. This means that the more Bitcoins that are released to the public, the more they need to be broken down and the higher their value needs to become to keep the currency in circulation.

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What is a Blockchain and How Does it Work?

Bitcoin and Blockchain are two topics that go hand in hand. Without Blockchain, there would be no Bitcoin, and without Bitcoin, there would be no need for Blockchain. While the vast majority of people are aware of what Bitcoin is (a digital form of currency for those of you who don’t!), not so many people know about the ins and outs of Blockchain; what it is, what it’s used for and how it works. Blockchain is essentially the reason Bitcoin exists. It is the technology that allows Bitcoin to function. It is like one large database that is able to store every Bitcoin-related transaction ever to occur, made by anyone anywhere in the world. In the same way that real money goes through banks, and everything is recorded and stored there, Bitcoin goes through Blockchains. The fact that Bitcoin goes through Blockchains as opposed to banks is just one of many reasons as to why it’s a popular method of payment. One of the intriguing aspects to Blockchain is that it can be accessed by anyone at any time. While personal details from each transaction are not given away, each transaction is visible to any person in the world- for example, X amount of Bitcoins were spent at 8 am in Paris on this day. Blockchain being so open also means that a lot of individuals can get involved with the currency- these people are often called ‘miners,’ and they work hard to help file the transactions in the database, solve coded problems and the like, all in exchange for Bitcoins. The technology that goes into this heavily encrypted Blockchain technology is really quite ingenious, and while it was primarily used for Bitcoin purposes, it is now used in over 700 different businesses, companies, and industries. There is even...

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How to Pay for Things Using Bitcoin

Bitcoin is a digital currency, meaning that there isn’t actually anything physical for you to hold, like coins and notes. Instead, everything is dealt with online- the way you purchase Bitcoin, the way you sell it and the way that you store it. This can seem confusing at first, but it is actually very simple to use. Here is how you can pay for goods and services using Bitcoins. First things first, you’ll need to sort yourself out with a Bitcoin wallet. Your Bitcoin balance needs to be stashed away somewhere, regardless of whether it’s just a piece of code or not, and the only way to do this is via a Bitcoin wallet. When it comes to Bitcoin wallets, you really need to do your research before settling for one. Look into things such as privacy settings, how secure the wallet is if it’s free of if you have to pay to use it and so on. In addition to this, look at customer reviews too- these will nearly always be more accurate and reliable than a review written by a Bitcoin or gambling-related website. Once you’ve decided on which wallet to use, you can begin purchasing and/or earning Bitcoin which can be stashed in your wallet. Then, when you have a substantial amount in your wallet, you can start to spend it! Bitcoin payments are very simple to do; they’re quick, easy and also incredibly secure, all contributing factors as to why Bitcoin is such a popular method of payment. When you want to make a payment using Bitcoin, you don’t need to give away any confidential information, such as bank details or your address- you just need to use your wallet, in one of three different ways. QR Code Your Bitcoin wallet when used online or...

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Bitcoin Now Worth Over $1100 With Big Rises in April

Bitcoin is the ever changing commodity in the world right now. The mercurial cryptocurrency has become something of an online heavyweight since it emerged on the scene around a decade ago. The value of Bitcoin has behaved much like stocks and shares in recent years, fluctuating repeatedly. The currency had come a long way since the early days when everyone tiptoed around it because we weren’t quite sure what it was. Indeed, for the first couple of years of its existence, Bitcoin was worth pretty much nothing, before finding parity with the USD in 2011. Many people got rid of the shares they did have, and one user is believed to have sold 10,000 BTC for around $50! Well, those people must be kicking themselves now, because the value of Bitcoin has reached its highest levels ever, and has levelled out at one of the highest. Forex reports this week revealed that Bitcoin prices have surged by no less than 3% since trading began. The cryptocurrency has been bouncing up and down in value for some time, but the price has rebounded to hit around $1,141. Those who buy with bitcoins will be pleased to know they can get a lot more for their digital coin! There has been a long-raging debate about what the future might hold for Bitcoin. Some believe it is destined to become the future of modern currency, while others are more sceptical about how much power and influence it will continue to hold. There is also the train of thought that Bitcoin may eventually be split into two different rival currencies. It is though that this may have had something to do with the dwindling power of Bitcoin and its value. However, things look to have changed in recent weeks, and the value has...

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How to turn your bitcoins into real, hard cash

It can take a very long time to build up a substantial amount of Bitcoins, but when you’ve done it, you’re going to want to turn it into real, hard cash so that you can invest it into something! Unfortunately, transferring Bitcoins to cash is a bit of a time consuming and expensive process. However, it can be done. There’s really only one way to go about doing it, and this is via an exchange. A Bitcoin to cash exchange can be done in a couple of different ways. Directly A direct exchange does require a significant amount of trust from both parties but is by far the simplest method of getting cash in exchange for your Bitcoins. All you need to do is find someone who is in search of some Bitcoins- a commodity that you can, of course, offer them. Decide on an exchange rate between yourselves  or use one from the stock market to find the monetary value of bitcoin and then make the transfer. This is where the element of trust comes in because once you’ve released your Bitcoins, there’s no guarantee they’ll agree to their end of the bargain and send you their cash. However, if you’ve vetted the individual out beforehand and everything seems okay, then this should be a good method for you to quickly exchange your Bitcoins over! Via a website There are some sites online that are designed to exchange your Bitcoins in the same way that you would be able to do it directly. However, the website provides you with a level of security and reliability, knowing that you will definitely get money back in exchange for your Bitcoins. However, that being said, the fees on these cash converter sites can be relatively high, meaning you could lose out...

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Where to Find Free Bitcoin Faucets and Sites

There’s no denying that Bitcoins aren’t the easiest thing to come by. If you’re mining them yourself, you’ll be waiting forever until you’ve got a substantial amount sat in your savings. If you’re looking to buy them, you can expect to be forking out around £800 for just one Bitcoin, minimum. That cost is crazy, and not a lot of people have that kind of money to exchange for Bitcoins. This is where free Bitcoin faucets and websites come in- these free faucets and sites allow you to do simple tasks, such as clicking on adverts on a website, in exchange for a small quantity of Bitcoins. Here’s some of the faucets and sites you can visit to start claiming your free Bitcoins straight away… Coin Brawl If you’re looking to have a lot of fun while earning some Bitcoin for free, look no further than Coin Brawl! This game has several different levels to work your way through as your battle it out with your opponents in an arena, trying to become the fighting champion! The more often you win, the more Bitcoins you can win! Satoshi Dice If you’re after reliable and free Bitcoin then why not head over to the original Bitcoin betting site, Satoshi Dice! Not only is there plenty of fun games to play over there with any coins you may already have, but there’s also a free Bitcoin faucet for you to try over there too. You do have to sign up to use it, but it’s entirely free to do so! Daily Doge That’s right, Daily Doge is a new faucet on the market and is all about the popular meme, Doge. All you have to do is spend some time on the site finding images of Doge and then clicking on...

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The Top 6 Bitcoin Casinos in 2017

A Bitcoin casino is, as the name says, a casino that accepts Bitcoins as a form of payment. With faster, more secure transactions than your conventional form of currency, Bitcoin gambling has produced hundreds of Bitcoin casinos. There are also plenty of large online casinos around the world looking at accepting bitcoin as a payment method, including Mr Green, Vera and John Casino, LeoVegas, and many more.  With this form of online gambling still establishing itself, you will find that certain sites are not reliable or even legal. We have removed some of the guesswork for you by reviewing some of the top Bitcoin casinos. The following 6 casinos seem to be amongst the most popular: Mbit Established in 2013, Mbit is licensed and regulated by Curacao. They offer a 110% deposit bonus as well as a second deposit bonus with a wagering requirement of 35x. The site requires a minimum deposit of 2 mBTC and a maximum withdrawal of 100 BTC per month. While there are hundreds of games to play as well as a VIP and affiliates program, the site is not provably fair. MegaDice If you fancy something a little bit different to your typical casino games, then a bitcoin dice game might be right up your street. MegaDice is quite possibly one of the most popular bitcoin dice games online at the moment; along with being one of the oldest. They also have a free Satoshi fountain for members, so handy if you want to try and top up your free Bitcoins. Bitstarz Bitstarz began in 2013 and is licensed and regulated by Curacao. They offer a no-deposit bonus as wells a first, second, third and fourth deposit bonus with a wagering requirement of 40x. The site requires a minimum deposit of 0.00001 BTC and...

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