Is your computer secretly mining bitcoin alternatives? A guide to ‘cryptojacking’

February 23, 2018
Nothing comes for free, especially online. Websites and apps that don’t charge you for their services are often collecting your data or bombarding you with advertising. Now some sites have found a new way to make money from you: using your computer to generate virtual currencies. Several video streaming sites and the popular file sharing network The Pirate Bay have...

Who are the richest people in Bitcoin?

February 22, 2018
There are over 14 000 000 of Bitcoins out there. According to some sources, there is only one holder that exceeds 100 000 Bitcoin: However, the shadowy inventor Satoshi Nakamoto is estimated to have mined 1 million bitcoins in the currency’s early days. His stash is spread across many wallets. So, he is the richest person in Bitcoin. The second...

Bitcoin – How it works, how much energy it uses and what needs to be fixed!

February 20, 2018
All eyes are on bitcoin at the moment. The cryptocurrency has staged a meteoric rise in 2017 that has attracted new investors, but, for many, question marks still surround bitcoin and the technology behind it. With recent reports pointing to the high energy cost associated with mining, the process used to create bitcoin, is there any way to fix it?...

How Does Mining Create New Bitcoins? A Brief Guide to Bitcoin Mining

February 19, 2018
Bitcoin is often compared with gold, and one of the chief factors of similarity it the way they’re both obtained. Similarly to gold, new Bitcoins are created via the process called “mining.” In fact, Bitcoin mining has a two-fold purpose: it allows for the creation of new coins and facilitates the processing of transactions in the network. Another parallel with...

Bitcoin Mining Pools : Pros and Cons | Currency Difficulty

February 15, 2018
Bitcoin Mining Pools with satoshi nakamoto
One of the first questions that anyone interested in mining cryptocurrencies faces is whether to mine solo or join a 'pool'. There are a multitude of reasons both for and against mining pools. However, if the hash rate distribution across the bitcoin network is anything to go by (and it is) then most miners are opting to join a pool....