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BitcoinCheryl Fong
Getting Started with
bubblemelon.com
What is a Bitcoin?
Decentralized Digital Currency
||
Cryptocurrency
Why be interested in Bitcoin ?
Benefits of using Bitcoin:
● No Credit card/Paypal approval
● No Bank fees
● For Everyday usage
● Passive income: e.g. FOREX
● Explore Fintech
Bitcoin features:
Low Fees Web Anonymous
Transactions with Bitcoin
Bitcoin Wallet
Selling Bitcoin
Bitcoin Wallet
Buying Bitcoin
Bitcoin Wallet
The Blockchain
https://blockchain.info/home
● Functions as a digital ledger
● Made of linked nodes (network) of verified transaction
● Recorded chronologically
● Publicly available
Secure Hash Algorithm
SHA - 256
The Genesis Block:
The first transaction ever made on the first block ever created.
Learning more about the Blockchain . . .
*Blockchain applications
http://www.blockchaintechnologies.com/blockchain-applications
Start Bitcoin MiningA process of adding transaction records to Bitcoin's public ledger of past transactions.
The Process:
1. Generate a SHA-256 hash less than the current target ( 256-bit number - bitcoin client )
2. Block with transaction gets added to blockchain
3. Receive Bitcoin reward
4. Repeat
Bitcoin Mining Hardware
https://bitcoin.org/en/bitcoin-core/
Mining Pool
Group Mining
Versus
Mining Solo
Shared mining resources You are left to your own devices
Shared hashing power
Split rewards Rewards are all yours
Rewards are consistent Once every few years
A way for Bitcoin miners to pool their resources together.
Bitcoin Mining
Thank youGet started today !