Bitcoin For Beginners - Learn How To Mine Bitcoin ! - Part 1
Currently, only 21,000,000 Bitcoins can be created, but that I guarantee will rise, as many are hoarding the coins and there just simply wont be enough to go around and not enough work, or transaction data, for the increasing number of miners out there.
Specialized computers and "Mining Rigs" are becoming available from companies such as Butterfly Labs and others, which harness ASIC technology. ASIC means application-specific integrated circuit- so these devices are engineered to mine Bitcoin and only mine Bitcoin. This creates an extremely powerful, and efficient machine, over 100x times more efficient than current setups. These machines are said to be able to mine Bitcoin up to 50 GH/s (if that means anything to you, but it's A LOT) extremely efficiently! More efficient than any desktop computer rig. None of these super computer miners have been shipped/received and it is still extremely uncertain whether these companies are scamming people or not. (I wouldn't PRE-order a $3,000 machine promising me all the money in the world, but many are)
SO - If these machines come to market, they will truly dominate all others and render most other PC's/Rigs worthless. Anyways, enjoy the video!
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BitCoin For Beginners - Part 2:
BitCoin For Beginners - Part 3:
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Enjoy time...
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