How to get free Bitcoins real way, Learn different ways to earn Bitcoins by completing simple tasks, Captcha and sell your Bitcoins for real money.
What is Bitcoins?
Bitcoins is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
Who created Bitcoin?
Bitcoin is the first implementation of a concept called “cryptocurrency”, which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.
Satoshi’s anonymity often raised unjustified concerns, many of which are linked to misunderstanding of the open-source nature of Bitcoin. The Bitcoin protocol and software are published openly and any developer around the world can review the code or make their own modified version of the Bitcoin software. Just like current developers, Satoshi’s influence was limited to the changes he made being adopted by others and therefore he did not control Bitcoin. As such, the identity of Bitcoin’s inventor is probably as relevant today as the identity of the person who invented paper.
Uses of Bitcoins?
You can use Bitcoins to buy almost anything today, including flight tickets, rent hotel rooms, buy pizza and food related stuffsand more..
It reduces the hectic process related to currency conversion between different countries in the world..You can use Bitcoins to purchase anything in US, UK, Singapore, Malaysia and many more countries with Bitcoins. While doing so, there is no need to convert Indian Rupee into US Dollars or EURO or Singapore Dollar or Malaysian Ringgit, directly you can purchase using bitcoins..
You do not need to convert your country currency to other country currency for purchasing. Payments are straight forward using a wallet application. A wallet application is software similar to your online banking account where you can hold your Bitcoins.
How to earn free bitcoins?
To start making money from Bitcoins you need to create a free online wallet account with Block-Chain, where you can store your earned BTC. Once you created your BlockChain Account, you are now ready to earn Bitcoins. After your account setup you will get access to your wallet. It is nothing but a similar to your online banking account, where you hold your bitcoins instead of country currency. Your own unique BTC address should look like this 1JSDFpG5QgeMmS6eGufj7RtZGB6jweom78.
Check your BTC balance at any time through this address https://blockchain.info/address/<your own btc address>.
Once you are ready with your blockchain wallet account and your own unique BTC address, now you are ready to work. Below on further scrolling you can find the list of sites to work.
What is Bitcoin mining?
Mining is the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together. It can be perceived like the Bitcoin data center except that it has been designed to be fully decentralized with miners operating in all countries and no individual having control over the network. This process is referred to as “mining” as an analogy to gold mining because it is also a temporary mechanism used to issue new bitcoins. Unlike gold mining, however, Bitcoin mining provides a reward in exchange for useful services required to operate a secure payment network. Mining will still be required after the last bitcoin is issued.
How does Bitcoin mining work?
Anybody can become a Bitcoin miner by running software with specialized hardware. Mining software listens for transactions broadcast through the peer-to-peer network and performs appropriate tasks to process and confirm these transactions. Bitcoin miners perform this work because they can earn transaction fees paid by users for faster transaction processing, and newly created bitcoins issued into existence according to a fixed formula.
For new transactions to be confirmed, they need to be included in a block along with a mathematical proof of work. Such proofs are very hard to generate because there is no way to create them other than by trying billions of calculations per second. This requires miners to perform these calculations before their blocks are accepted by the network and before they are rewarded. As more people start to mine, the difficulty of finding valid blocks is automatically increased by the network to ensure that the average time to find a block remains equal to 10 minutes. As a result, mining is a very competitive business where no individual miner can control what is included in the block chain.
The proof of work is also designed to depend on the previous block to force a chronological order in the block chain. This makes it exponentially difficult to reverse previous transactions because this requires the recalculation of the proofs of work of all the subsequent blocks. When two blocks are found at the same time, miners work on the first block they receive and switch to the longest chain of blocks as soon as the next block is found. This allows mining to secure and maintain a global consensus based on processing power.
Bitcoin miners are neither able to cheat by increasing their own reward nor process fraudulent transactions that could corrupt the Bitcoin network because all Bitcoin nodes would reject any block that contains invalid data as per the rules of the Bitcoin protocol. Consequently, the network remains secure even if not all Bitcoin miners can be trusted. Eobot has provided a good platform for Bitcoin mining.
What about Bitcoin and taxes?
Bitcoin is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise with Bitcoin.
Where can i get free Bitcoin?
EOBOT.COM It currently allow withdrawals in: BTC ETH LTC STEEM DOGE XRP DASH GNT BTS CURE XEM XMR ZEC FCT BCN BCH LSK MAID USD GRC ETC You can claim your Bitcoin every hour Visit: https://www.eobot.com/ for more information
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