What is Bitcoin?
A binary is two things, a protocol that can be accessed using software that speaks the protocol like wallets, etc. And also a coin used for shopping, the currency can be divided into 100 million parts called Satoshi (named after the creator). The Bitcoin was invented by Satoshi Nakamoto when he first published the WHITEPAPER in 2008 and released the first version of Bitcoin in 2009. The Bitcoinwas not the first digital currency, many before it used Cryptography but failed because it was centered and therefore was easy to disrupt Their system whether it is hackers or worried countries their list is here and what Satoshi inspired and helped.
Bitcoin has several advantages over the money we now know (Fiat):
Distributed, there is not one place / one country that controls the currency, the currency is the currency of the people, and that is why you can also use the biscuit for shopping all over the world no matter where you are.
OPEN SOURCE - Everyone can contribute to its development or change it to a version that works best for them.
TRUST LESS - There is no place and reason to trust the system / country, if your coins have not stolen your private key, there is no way for anyone to touch you with their innocence. This is achieved by a mathematical field called cryptography.
Half anonymous - no one knows who makes the purchase (unless you are a stock exchange / someone who asks for donations - actually someone who links the name to an address) but everyone can see everyone's money (without knowing who it is). Example of a random address in Blockkin Everyone sees how much money he has but nobody knows who it is.
BlockChain - An information system that anyone can download that consists of blocks of intertwined transfers using the HASH of the previous block, all the transfers that have ever been made on the Bitcoin network are here. An explanation of how the Blockchine insures the network later on.
The maximum number of bits that could ever have been 21M is currently lower because there are some burned-out ones (by 2015, about 2,673). Burned Bitcoins is an unrecoverable bitumen that is sent to an address that no one has the private key to, such as 1ANewHope11111111111111111vnYm6D or during mining The miner who found the block does not take all the biscuits. For example - someone who took 49.99999999 to clear them from a block instead of 50 as symbolic to the disappearing Satoshi. Another way to burn crackers is to forget to put an address in the block like this poor man.
So how can I use Bitquine?
In order to use Batikin, you need a wallet to clean it, it does not have to be software, there are also paper wallets (an explanation of all types of wallets later) and with the wallet we will get our own cleaning address to which we will send a check (we recommend using each address twice - receipt and sending) Send it to the recipient's address, and then in the wallet's software we can send it to the receiver (sending is done only with software because you have to do mathematical calculations and sign the transfer and usually connect to the network). Do not worry later I'll show an example of a wallet and how to use it.
In order to have a wallet, you create a private key from a random 256BIT (16 chances of zero chance that someone will find your address) and from it a public key to which money is sent, then when you send money to the public key and you want Use it you actually type a seal on the transfer using the private key and it nodes the signature verifiers of the private key with the help of your public key.
Types of Wallets for Batkins:
A wallet for software, the most used wallets, they keep the private key and are connected to the network, whether it's Lockcaine installed on the computer or Lockcaine installed on someone else's computer. Examples: Electrum Coinomi, etc. (Blockkin is installed on someone else, but Bitcoin Core is installed on your computer. This wallet is also called Node.
A paper wallet, because the money is in Blockkin and you just need to know the private key to use it, something called a paper wallet is invented, it actually takes 256BIT and it is the private key and then calculates the public key and brings you to print it conveniently. You send money to the public key and when you want to use you use a software wallet that supports the import of a private key. A paper wallet is considered safe when it is made on a computer disconnected from the Internet and by familiar software because it is physical and disconnected from the Internet and therefore can not be hacked (unless the wallet was created from an open source and the private key is not really random).
Hardware wallet - An external wallet that connects to the computer for use, the wallet is sure that the private keys do not leave the wallet, before sending the money and the data are verified on the wallet itself (helps if the computer is hacked and the virus puts its address in your place) Pocket wallet and inside it, and only after the signed transfer is transferred to the computer and then transmitted to the rest of the network, is considered the most recommended purse but costs money.Recommended wallets - Ledger, Trezor.
Brain Purses (Memory) - Not recommended at all - Use the HASH SHA256 function to create a private key from a word or a few words. Not recommended because the process is not random, if you care about money please do not use it.
A wallet is stored on a network - it is not recommended that in the event of a site hacking / blocking the site does not have access to money. Adds ways to lose money. Stock exchanges are considered in this type of wallet.
A cold wallet that is disconnected from the Internet and will remain disconnected for all use, preferably disconnected from the moment of purchase. The signature is made on the cold computer, USB DRIVE connectors, transfer the signed transfer and transmit the transfer from a hot computer (connected to the Internet) similar to a hardware wallet but more expensive (usually) and less convenient (a hardware wallet is really small and connects to any computer easily).
The wallets that use any software (both software wallets, cold wallets and hardware wallets) are also called HD wallets. They basically create private keys from one key and each new transfer uses another address (for user privacy). I say this for after you make some transfers And wonder why your address is different and you will know the reason. And although the wallet will bring you another address it still keeps the previous address if you want to use it for any reason.
A small guide on using an Electromechanical wallet:
Please take note that this is not .com, it's a fake site and will probably take you all the bitcoins you put in it.
Note that this is a standard wallet. If you do not understand the rest, you must save the SEED with this. If something happens to the computer and the wallet is deleted, you can still use your own cookies and watch the wallet and save the encryption. The key to encryption is if you have the SEED but it's just an annoying process to recover and it's best not to use SEED when you do not need because you do not know if your system is hacked. Now to the main page of Electrom
Is it worth it for me to cut off a patch on my home computer on my own? No. For the mining of Bitquin will be worthwhile and first of all must be cut in the group, because the chance that one person will find a block is nil and, eventually one person only finds it but in the group you promise income even if you are not the one who finds the solution. The revenue is divided by the hash power that you contribute to the group. In addition, it has long been not profitable to cut down on home computers because there are companies that have made computer systems that specialize in the sha256 hash function, by giving up parts that are not important for mining, etc. These are called ASIC - Application Specific Integrated Circuit. These are the systems that are used to cut down their coatings.
- Personal opinion, I would prefer to have a change in the hash function every time ASIC came out because that's how anyone can make a nice profit on the PC and it would help to spread the network rather than centering that happens now because one company sells the best ASICS ...
This is the end of the guide. If you want to learn more things that I did not explain (and there are many) Google is your friend, if there is something you did not understand and you want an explanation / something important I missed or even corrections.
Have a great Weekend
