Demystifying bitcoins
Let me go back to the date of creation of the digital currecy that is the bitcoin. In 1998, Wei Dai initiate the idea of an virtual money that would be controlled by cryptographic processus instead of official institutions. Then in 2009, Satoshi Nakamoto published the first technical specifications and prototype of the project bitcoin. Since then it as exponentially grown.
All Bitcoin transactions are recorded in a public ledger called the block chain and are transferred through a peer to peer network. In other words: fast money transfer, very low cost money transfer, frictionless international money transfer, no charge-backs no double spending and finally, you can't print it. (Except in the form of a paper wallets but its irrelevant in this context)
Mining is the process by which new Bitcoins are created. Miners use special software to solve math problems and are issued a certain amount of bitcoins in exchange. It provides a smart way to issue the currency and also creates an incentive for people to mine. Bitcoin miners help keep the network secure by approving transaction. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure. To that date the most efficient minner available is the Antminer S7
Transfering your bitcoins in a us dollars investement, is a good way to protect yourself against the coins fluctuations. Of course if the coins goes up, you face a "potential" loss, but your investement still keep the same value and revenue, and will do so even if the coin drops. Hashocean is a good way to make that protected investement.Start small and increase your profits with smart investing.
