Bitcoin, Ethereum and Cryptocurrency: Ultimate Beginner's Guide to Mining



KitGuru.net has just published an 11000 word analysis on Cryptocurrency. Leo gives his own opinions on it all – but be sure to read the guide by Crypocurrency …

9 Comments

  1. a year ago I was a beginner in bitcoin mining have being having issues with the whole mining process . I am sure that many beginners faced that problem! until i met Mr philip mawdsley who assisted me and have being able to mine 0.5btc every 14 working days , with his contact via philipmawdsley001@gmail.com

  2. As the price of coins keep increasing or decreasing, so is the profitability of mining them. Both building mining rigs yourself to mine and buying cloud mining contracts are very profitable at the moment and will get you a pretty huge ROI. This is the perfect time to get into the mining scene and start building a steady income. Your ROI depends on the amount of coins you mine. I mine coins like BTC, BCH, LTC, ETH and ETC. Feel free to contact me for assistance via (victorvladimir34@gmail. com)

  3. The main article is well worth a read, well researched with useful information. BBC's Panorama team would have done well to read it prior to producing their latest episode "Who Wants to Be a Bitcoin Millionaire?", utter drivel by comparison.

  4. 3:08 The article is great from a GPU mining perspective but it may have caused some misunderstanding on what a wallet is.

    Based on what you say here I think you are talking about the official Bitcoin wallet (program). And it is true that it will download / sync the entire Bitcoin blockchain (which takes a long time) so you can personally verify the entire chain and the balance associated with your keys.

    However, after verification you don't need to keep the blockchain around when you secure your keys, which can be a hardware wallet, a piece of paper you write them on, or anything else really.

    The term "wallet" is just confusing because it is used differently by different people. The best description of a wallet is just "an encrypted file which contains your public and private keys".

    Cloud Wallets are popular because they give you an easy way to get your wallet file back in case you lose your data. These cloud wallets work much like LastPass or other password management tools. You need to trust the wallet provided, just like you trust your password manager.

    Cryptocurrency exchanges ARE NOT wallets. Your money (or crypto) goes into one big wallet owned by the exchange and exchanges between its users all happen in pretend-land databases. Nothing is actually happening on the blockchain (that's why trades are cheap). This is what's inherently risky about them.

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