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| | | | | Basic Instructions Before Leaving Earth |  | And God said, Let the waters bring forth abundantly the moving creature that hath life, and fowl that may fly above the earth in the open firmament of heaven. |
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|  |  Learn and Earn Crypto |
 Your work is done in shifts. You are paid when blocks are found. | Each coin is in an algorithm for example "scrypt" or "sha256" There is a network time of for each block for example 2m 30s or 10m. Every "network time" has there own block reward of coins for example "50 coins". Block half every so many blocks for example 250,000 later 50 will become 25 and then 250,000 later 25 will become 12.5 then 6.25 and 3.125 and so on.
Miners are awarded tickets at each network time for the current block in a mining pool the block reward coins are split between the miner pool workers or solo mining get the (whole block). | | Software - Decentralized Peer to Peer | | Commonly hosted at GitHub downloaded and installed on Linux, Windows systems. | | The blockchain is so important this is the list of verified transactions stored on the hard disk. | | Wallet - Unique Address | | Your wallet is a password-protected storage for your earnings and keeps a network-wide ledger of transactions. | | You will get your wallet address from either a software program, or a website exchange. [More Common - website exchange] | | Your wallet address is where you deposit coins. This address is a combination of letters and numbers. | | Do not mix up the address this will cause loss of coins. Each address is specific to its coin. | | 0.00000000 satoshi the term used for your coin holding a value. | | USD to Satoshi to BTC | | At bitcoins current price 0.000028 satoshi is worth $1 USD at the current market. | | Satoshi | USD | Bitcoin | | 100,000 | 61 | 0.00100000 | | 1,000,000 | 614 | 0.01000000 | | 10,000,000 | 6,135.00 | 0.10000000 | | 100,000,000 | 61350 | 1.00000000 |
| | What is a seed phrase? | | A seed phrase, also known as a recovery seed or a secret private key phrase, is a sequence of 12-24 words you can use to restore a private key wallet. It’s the only way to backup a crypto wallet. If you lose the phone, computer, or hardware device you use to access your crypto, you will need to enter your seed phrase elsewhere to restore your private key wallet and its contents. After all, you don’t need your seed phrase to access your funds; it’s a backup method to restore your funds. So, if you lose your physical device and your seed phrase, that’s when you can panic. | | BlockChain - Transaction Data | | a growing list of records called blocks, which are linked using cryptography has of the previous block, a timestamp and transaction data (generally represented as a merkle tree root hash.) | | Block Reward | | The block reward simply refers to the new coins distributed by the network to miners for each successfully solved block. Every 210,000 block are mined or confirmed, by the system halvening will occur. | | Hashing Power | | A hash is the output of a hash function. Hash rate is the speed at which a computer is completing an operation in the cryptocurrency’s code. Therefore, the amount of hashes are measured in hashes per second. A higher hashrate increases a miner’s opportunity of finding the next block and receiving the block reward. | | Luck | | The luck of a mining pool is probabilistic in nature. Imagine that each miner is given a lottery ticket for a certain amount of hashing power they provide. If you were to provide 1 TH/s of hashing power and the overall hashing power in the network is 10 TH/s then you would receive 1 of 10 total lottery tickets. The probability of you winning the lottery (finding the block reward) would be 10%. So for every 10 blocks found you should statistically find 1 of them. Now imagine that you found 2 out of the 10 blocks, this means that you found a block earlier than you statistically should have on average. You are lucky! Now imagine you found 0 out of 10. This would make you unlucky. Over the long run statistically you should receive on average 1 out of 10 (or 10%) of blocks, but there is short term variance. | | Mining Pool | | All in all, mining is attempting to unlock each block to get the reward that is in it; the more attempts (hashes) you can perform per second the higher the chances you have to get the reward (i.e. the more lottery tickets you have the higher your chance of winning the lottery). Because miners by themselves typically don’t have enough hashing power to consistently find blocks they join a pool that pools everyone’s hash power and combines it to hash blocks. With more hashing power it is easier to find blocks. Then, the reward is split among the miners based on the amount of work they contributed and a small fee is given to the pool operator. | | Block Explorer | | A Block Explorer is a website that will give you transaction details for the specific coin you are browsing. | | Exchange - Buy, Sell, Trade | | Membership at an online currency exchange, where you can exchange your mined coins for other coins or Bitcoin. | | Mining Pool - Purpose, Equipment, Network Time | | You need a membership in an online mining pool to get coins. | | When someone mining in the pool finds a block you get paid. | | Your share of the coins from the block depends on your share of the work done. | | Confirmations are the name of valid blocks; verifying transactions. | | Rule in bitcoin blockchain: 10 minutes - time required to mine a single BTC block. | | CPU - Central Processing Unit | | USB - Universal Serial Bus | | GPU - Graphical Processing Unit | | ASIC - Application Specific Integrated Circuit |
| | Pool Mining usually shows rewards, lottery mining or solo mining is more profitable not as lucky though. | | Its cool to have mining equipment just somewhere secure with good electricity and decent ethernet access. |
| Coins (Mine, Trade) & Tokens (Trade) | | algorithm of the coin | | genesis block 0, Nonce, Merkle Root, RPC Port | | Mining Pools and equipment | | Exchanges Buying and Selling crypto coins and market distribution. | | Block Explorer (Height, TX, Address) |
| Go to this exchange right now and earn free coins. |  Coinbase - buy, sell, transfer and receive Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin - Earn coins in crypto; learn with videos. |
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October 2024
