Earn 1000 satoshi every 800 minutes
Kamis, 28 Januari 2016
Kamis, 21 Januari 2016
What is a Litecoin?
Litecoin is a peer-to-peer virtual currency that enables instant on the internet. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.
Litecoin is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code.
The Litecoin blockchain is capable of handling higher transaction volume than its counterpart - Bitcoin. Due to more frequent block generation, the network supports more transactions without a need to modify the software in the future.
As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items.
Just like bitcoin, litecoin is a crytocurrency that is generated by mining. Litecoin was created in October 2011 by former Google engineer Charles Lee. The motivation behind its creation was to improve upon bitcoin. The key difference for end-users being the 2.5 minute time to generate a block, as opposed to bitcoin's 10 minutes. Charles Lee now works for Coinbase, one of the most popular online bitcoin wallets.
For miners and enthusiasts though, litecoin holds a much more important difference to bitcoin, and that is its different proof of work algorithm. Bitcoin uses the SHA-256 hashing algorithm, which involves calculations that can be greatly accelerated in parallel processing. It is this characteristic that has given rise to the intense race in ASIC technology, and has caused an exponential increase in bitcoin's difficulty level.
Litecoin, however, uses the scrypt algorithm – originally named as s-crypt, but pronounced as 'script'. This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin. Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. As a result, scrypt is known as a 'memory hard problem'.
The consequences of using scrypt mean that there has not been as much of an 'arms race' in litecoin (and other scrypt currencies), because there is (so far) no ASIC technology available for this algorithm. However, this is soon to change, thanks to companies like Alpha Technologies, which is now taking preorders.
To highlight the difference in hashing power, at the time of writing, the total hashing rate of the bitcoin network is over 20,000 Terra Hashes per second, while litecoin is just 95,642 Mega Hashes per second.
For the time being, 'state of the art' litecoin mining rigs come in the form of custom PCs fitted with multiple graphics cards (ie: GPUs). These devices can handle the calculations needed for scrypt and have access to blisteringly fast memory built into their own circuit boards.
Litecoin, however, uses the scrypt algorithm – originally named as s-crypt, but pronounced as 'script'. This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin. Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. As a result, scrypt is known as a 'memory hard problem'.
The consequences of using scrypt mean that there has not been as much of an 'arms race' in litecoin (and other scrypt currencies), because there is (so far) no ASIC technology available for this algorithm. However, this is soon to change, thanks to companies like Alpha Technologies, which is now taking preorders.
To highlight the difference in hashing power, at the time of writing, the total hashing rate of the bitcoin network is over 20,000 Terra Hashes per second, while litecoin is just 95,642 Mega Hashes per second.
For the time being, 'state of the art' litecoin mining rigs come in the form of custom PCs fitted with multiple graphics cards (ie: GPUs). These devices can handle the calculations needed for scrypt and have access to blisteringly fast memory built into their own circuit boards.
Selasa, 19 Januari 2016
Satoshi Value and Price
What is Satoshi?
A satoshi is currently the smallest fraction of a Bitcoin. The unit has been named "satoshi" in collective homage to the founder Bitcoin, Satoshi Nakamoto. Satoshi are to Bitcoin like Pennies are to Dollars - just smaller.
Predefined Values:
1 Satoshi = 0.00000001 ฿
10 Satoshi = 0.0000001 ฿
100 Satoshi = 0.000001 ฿
1,000 Satoshi = 0.00001 ฿
10,000 Satoshi = 0.0001 ฿
100,000 Satoshi = 0.001 ฿
10,0000,000 Satoshi = 1 ฿
A satoshi is currently the smallest fraction of a Bitcoin. The unit has been named "satoshi" in collective homage to the founder Bitcoin, Satoshi Nakamoto. Satoshi are to Bitcoin like Pennies are to Dollars - just smaller.
Predefined Values:
1 Satoshi = 0.00000001 ฿
10 Satoshi = 0.0000001 ฿
100 Satoshi = 0.000001 ฿
1,000 Satoshi = 0.00001 ฿
10,000 Satoshi = 0.0001 ฿
100,000 Satoshi = 0.001 ฿
10,0000,000 Satoshi = 1 ฿
How to Convert Satoshi to Bitcoin
The maddening thing that has everyone confuse and not completely buying into this new cryptocurrency is the conversion system. There is no easy way of explaining the conversion system and if you are not very crafty with your math skills, it may be difficult to complete the conversion; especially converting Satoshi to bitcoin. To get the best understanding of converting Satoshi to Bitcoin, it may be easier to use an online converter system. For instance, 0.00018 BTC (bitcoins) =0.18mBTC (millibits) =180uBTC (microbits) =18000 Satoshi. The other factor is that the daily price of Bitcoins can vary. Using the numbers above, the value in U.S. dollars would 0.06. That is six cents in U.S. currency.
The maddening thing that has everyone confuse and not completely buying into this new cryptocurrency is the conversion system. There is no easy way of explaining the conversion system and if you are not very crafty with your math skills, it may be difficult to complete the conversion; especially converting Satoshi to bitcoin. To get the best understanding of converting Satoshi to Bitcoin, it may be easier to use an online converter system. For instance, 0.00018 BTC (bitcoins) =0.18mBTC (millibits) =180uBTC (microbits) =18000 Satoshi. The other factor is that the daily price of Bitcoins can vary. Using the numbers above, the value in U.S. dollars would 0.06. That is six cents in U.S. currency.
So converting Satoshi to Bitcoin really comes down to knowing how many
places to move the decimal point when converting from one unit to
another unit. If that is not good for you then there are always
converter calculators online that you can enter a specific unit in such
as Satoshi and easily have the system automatically convert that unit
into Bitcoin for example. In the future there probally will be other
units that are derived, but for now Satoshi is the smallest fraction of
the Bitcoin that can be currently sent. Check out our bitcoin converter calculator to see how much a single bitcoin is going for in dollar
today!
Minggu, 17 Januari 2016
The Latest Bitcoin News
Bitcoin is the newest money. You’ve heard the stories of the average Joe whose initial small Bitcoin investment turned into millions nearly overnight. Unsurprisingly, you want to get in on the action. Fortunately for you, it isn’t too late! Bitcoin is a very young currency and it’s growing every day. Many bitcoin enthusiasts believe that people who invest even today are ‘early adopters’: people who are taking the leap to try out Bitcoin and may get large returns on their investment in the future.
To follow the actual information about Bitcoin, read the following news every times. Good luck.
To follow the actual information about Bitcoin, read the following news every times. Good luck.
Sabtu, 16 Januari 2016
Bitcoin Mining
Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.
The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.
Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.
Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.
The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.
Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.
