What is a Bitcoin?
Bitcoin is an easy and safe way you could pay money to someone without using any banks and without any company or person being in control of it. It works anywhere in the whole world. And it is not connected to your name unless you want. It operates with numbers similar to bank account numbers. When you want to send Bitcoin to someone, you send them from your number to their number. And all the payments get added to a log book called a ledger (also called a blockchain).
How do you use Bitcoins as money?
To send and receive Bitcoins, you simply need to get a Bitcoin wallet. You can do this easily at a website like Coinbase.com. There are many mobile apps for this as well. (Use caution when picking any wallet apps.) Then you will have the numbers you need (called your wallet address, the numbers where people can send you Bitcoins) and the program that lets you send coins from your wallet to other people’s Bitcoin address.
But if there is no central authority, who decides what payments are valid? And what stops people from gaming the system?
Well, the payment transactions have to get approved, so there have to be computer systems to validate the transactions. Anyone can make one of the computer systems that validate these transactions, either by building special systems or by using your own computer at home. Being one of these systems is called mining.
What does mining actually do overall?
Every ten minutes or so mining computers collect pending bitcoin transactions (a “block”) and turn them into a mathematical puzzle. The first miner to find the solution to the puzzle announces it to others on the network. The other miners then check whether the sender of the funds has the right to spend the money, and whether the solution to the puzzle is correct. If enough of them grant their approval, the block is cryptographically added to the ledger and the miners move on to the next set, or block, of transactions (hence the term “blockchain”). The miners who found the solution gets bitcoins as a reward. All this gives miners an incentive to participate in the system and validate transactions. If you can make your computer system solve part of the puzzle then you get part of the reward.
What are the numbers that are being crunched?
When you pay with Paypal or VISA, they use their own Paypal and VISA servers to crunch all the numbers and send the money over. But with crypto-currency like BitCoin, anyone can join in and crunch the numbers. And the % that the store has to pay to VISA, would go to anyone that is crunching the numbers if the people pay in Bitcoin instead.
Basically, Bitcoin spreads the wealth from a big bank to the miners instead.
How can I become a miner?
You can make money for getting your computer to think really hard crunching the numbers that everyone sends to the network. The more numbers you can crunch per second, the more money you earn. The powerful video cards in gaming PCs can be used to process money transactions over the internet. You can also mine with your CPU, which is the computers brain.
We make it really easy to get your computer to be a part of the network. We then make it really easy to control all the details and tune it so you can crunch more numbers per second.
In other words, take a computer, add PiMP software, and you are earning money crunching numbers as a miner. You can build machines specially for this like our crate rigs, or you can just do it when you are not using your computer.
So how does this make me money?
Your cost is the equipment, and the cost of power to run it. The key is to get the most block rewards with the least power costs.
Example: If one rig costs $2.40/day in power, and makes $3.62 worth of coins, you made a profit.
How do you get the most block rewards?
Coins, algorithms, prices, values, it all changes every day. Pro miners spend hours per day watching forums, downloading and compiling miners, testing them, reporting issues, troubleshooting, patching software, writing config files, etc.
That is not feasible for most people. Do you want to spend your time testing and patching software 24/7? No. We do all of that work for you. Your rig will even alert you when we have updates available, so you have the best chance of making more profits.
Alright, how do I start mining?
As long as you have at least one supported AMD or NVIDIA GPU, or a supported ASIC/FPGA or CPU, you can use any of these and all of them to mine. We provide optimized configurations and miner software for all of these devices. You would simply purchase our program and write it to an SSD. You cannot put it on the same disk as your Windows or existing OS, you will have to use a new one. You can dual-boot if you like using your BIOS to pick which disk. You will need 1 PIMP license per rig (per mining machine.) And PIMP offers top notch live chat support so you can get help.
Don't miss out on mining crypto currencies!
Mining made simple:
1. Buy and Download PiMP.
2. Write it to SSD, plug into a rig, and boot.
3. Put in your PiMP Key (You need 1 key per rig.)
4. minerfarm command and add an miner profile for the coin you want to mine.
5. Start mining!