What is Cryptocurrency and how it work

Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

Cryptocurrency is an encrypted decentralized digital currency transferred between peers and confirmed in a public ledger via a process known as mining.

 

How cryptocurrency works?

In order to understand how cryptocurrency works, you’ll need to understand a few basic concepts. Specifically:

Public Ledgers: All confirmed transactions from the start of a cryptocurrency’s creation are stored in a public ledger. The identities of the coin owners are encrypted, and the system uses other cryptographic techniques to ensure the legitimacy of record keeping. The ledger ensures that corresponding “digital wallets” can calculate an accurate spendable balance. Also, new transactions can be checked to ensure that each transaction uses only coins currently owned by the spender. Bitcoin calls this public ledger a “transaction block chain“.

Transactions: A transfer of funds between two digital wallets is called a transaction. That transaction gets submitted to a public ledger and awaits confirmation. When a transaction is made, wallets use an encrypted electronic signature (an encrypted piece of data called a cryptographic signature) to provide a mathematical proof that the transaction is coming from the owner of the wallet. The confirmation process takes a bit of time (ten minutes for bitcoin) while “miners” mine (ie. confirm transactions and add them to the public ledger).

back to the contributors. All of this is possible without requiring a centralized arbitrator, clearing house or having to trust anyone. Ethereum has a broader base to build on and a broader market to enter, as it isn’t locked to being a value transfer ledger. Ethereum uses ethash instead of sha-256, which means that individuals can compete in mining it (Ethash is memory.

Hard meaning it needs memory to run, which in turn means it works more efficiently on a GPU ) whilst Bitcoin has.

ASIC chips that have led to a moore’s law race and concentrated mining power!

Cryptocurrency replaces the need of human trust via self enforcing smart contracts. this cryptocurrency using blockchain and smart contract features, is exclusively created for AdsWorld which is transparent,secure and safe against hacking, attacks and fraudulent activities.

The strategies behind low-cost franchising

Franchises with lower costs of entry can make it easier for you to plan to be your own boss. Here’s a look at the strategies behind low-cost franchising and some resources on where to find successful opportunities.

Creative Ideas
Arts & crafts business
Creativity consultant
Interior designer
Jewelry
Doing What You Love
Freelancing your expertise
Hobby business
Sports business
Product Sales
Cart/kiosk
Direct sales
eBay
Gift basket

Ready to take on the world of entrepreneurship?

Now’s the time to do it. Thanks to social media, crowdfunding and alternative lending options, and the constant evolution of technology, this year is a great time to start a business. Not sure where to begin? There’s good news — with new trends popping up constantly, there are plenty of ways for aspiring entrepreneurs to capitalize on them. so connect with GB Techno House and get new ideas, Job offers, and Freelancing Tricks….

bitcoin rates june 2009 to june 2017

June 2009 1 Bitcoin = 0.0001 USD
June 2010 1 Bitcoin = 0.07 USD
June 2011 1 Bitcoin= 15 USD
June 2012 1 Bitcoin= 7 USD
June 2013 1 Bitcoin = 100 USD
June 2014 1 Bitcoin= 600 USD
June 2015 1 Bitcoin= 220 USD
June 2016 1 Bitcoin= 2200 USD
June 2017 1 BTC = 2694 USD

you can purchase now. or signup and get free BIDCOINS

offical localbitcoin website:     https://localbitcoins.com/?ch=c1rl

Bitcoin – Most Asked Question and answers

How do you open a Bitcoin account?

Sign Up and Create a digital currency wallet where you can securely store digital currency. connect. Connect your bank account, debit card, or credit card so that you can exchange digital currency into and out of your local currency.**Buy Bitcoin & Ethereum. Buy some bitcoin and ethereum to begin using the future of money.

How dose bitcoin work?

A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet.

Who Created Bitcoin?

Bitcoin was created by Satoshi Nakamoto, who published the invention on 31 October 2008 to a cryptography mailing list in a research paper called “Bitcoin: A Peer-to-Peer Electronic Cash System”. It was implemented as open source code and released in January 2009.

What is a bitcoin?

Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.

How does a Cryptocurrency work?

Cryptocurrency is an encrypted decentralized digital currency transferred between peers and confirmed in a public ledger via a process known as mining. … First, let’s review the basics and essentials of cryptocurrency, and then we will do an overview of the other properties that have made cryptocurrency what it is today.

How does a Bitcoin miner work?

Every ten minutes or so mining computers collect a few hundred pending bitcoin transactions (a “block”) and turn them into a mathematical puzzle. … The miner who found the solution gets 25 bitcoins as a reward, but only after another 99 blocks have been added to the ledger.

What is a crypto miner?

Mining programs tap into your computer’s hardware resources and put them to work mining Bitcoin, Litecoin, or another type of cryptocurrency. And no, even if your hardware is used to generate money for them, you don’t get any of it.

What is a crypto exchange?

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. … Bitcoin became the first decentralized cryptocurrency in 2009.

What is a cloud miner?

Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power. This type of mining allows users to mine bitcoins or alternative cryptocurrencies without having to manage their own hardware.

How new bitcoins are created?

New bitcoins are generated by a competitive and decentralized process called “mining”. This process involves that individuals are rewarded by the network for their services. Bitcoin miners are processing transactions and securing the network using specialized hardware and are collecting new bitcoins in exchange.

What is a Bitcoin miner?

Bitcoin mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

What are you actually doing when mining for Bitcoin?

Written Jun 30, 2015. Miners are solving hashes of the next block. In bitcoin the algorithm used is SHA256. A hash is the word (can be noun or verb) for a cryptographic algorithm that produces a repeatable but non-reversible string of numbers and letters, in SHA256 the outcome is a 256 bit string.

How do you mine for Bitcoins?

Steps**Purchase custom mining hardware. When Bitcoin first started, it was possible to mine using only your desktop’s CPU and GPU. … **Obtain a bitcoin wallet. … **Secure your wallet. … **Decide between joining a pool or going alone. … **Download a mining program. … **Run your miner. … **Keep an eye on temperatures. … **Check your profitability.

Is it illegal to mine Bitcoins?

Once ASICs are out, ASIC users will still have to spend thousands to make a profit. Well since bitcoins are not really ‘money’ (not legal tender anyway) yet, taxes wouldn’t matter unless you sold it for whatever fiat currency. Other than that can’t see what difference is between mining bitcoins and knitting a scarf. )

What is meant by digital currency?

Digital currency is a payment method which exists only in electronic form and is not tangible. … Digital currencies can be used to purchase goods and services but can also be restricted to certain online communities such as a gaming or social networks. Digital currency is also known as digital money and cybercash.

What is Cryptocurrency trading?

Cryptocurrency Trading is the Forex (Foreign Exchange) of cryptocurrencies. This means, you are able to trade different bitcoin and altcoin normally for USD and BTC. Cryptocurrency Trading is an alternative way to get involved in the Crypto-World!

What is Poloniex?

Two things are different compared to the buy box on the Exchange page: Tradable balance and the Loan Rate field. Your tradable balance is the amount of funds currently available to you for trading. Its value depends on your margin account balances, market conditions, and your open positions.

Can you buy Bitcoins?

Most commonly, people use a Bitcoin exchange to exchange local currency for Bitcoins. Here is a list of exchanges split by currency and whether they’re currently active or not. If you buy from a trader with good reputation history and fast response times you can get bitcoins within an hour.

How do I get Bitcoins for free?

Grab one from Coinbase.**It’s fast. Earn bitcoin for every task that you complete, and get paid automatically within hours. … **It’s free. All you need to start earning is a Bitcoin address for receiving payments. … **It’s fun! We are always adding new, interesting content.

How do you make money with Bitcoin?

Contents of Earn Bitcoins Earn Bitcoins by accepting them as a means of payment Earn free Bitcoins by completing tasks on websites Earn Bitcoins from interest payments Earn Bitcoins from mining Earn Bitcoins by getting tipped Earn Bitcoins through trading Earn Bitcoins as a regular income.

What is the hash rate?

Hash (Rate) ~ A hash is the output of a hash function and, as it relates to Bitcoin, the Hash Rate is the speed at which a compute is completing an operation in the Bitcoin code. A higher hash rate is better when mining as it increases your opportunity of finding the next block and receiving the reward.

What is bit coin used for?

As you’ve noted, Bitcoin is a digital currency used to pay for a variety of goods and services. … Although physical forms of Bitcoin exist, the currency’s primary form is data so you trade it online, peer to peer, using wallet software or an online service.

How many Bitcoins are there right now?

As of 6 February 2016, there are 15.2 million bitcoins circulation of a capped total of 21 million. Here’s an up-to-date graph and other bitcoin network statistics. That means over 72% of all bitcoins are already in circulation. Currently there are 25 new bitcoins produced (mined) every 10 minutes.

What is Bitcoin mining Wiki?

Mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

How many Bitcoins are there left to be mined?

There are a total of ~16 million bitcoins in existence, and 21 million total will be available. Therefore, there are ~5 million bitcoins still to be mined from now until around 2140.

What is the meaning of bit coin?

Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country’s central bank or government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment.

How do you make money on Bitcoins?

No one made money creating the program; it’s free and open source! However, there are people who make money by “mining”. From the bitcoin wikipedia page: Bitcoins are awarded to Bitcoin “miners” for the solution to a difficult proof-of-work problem which confirms transactions and prevents double-spending.

What is a bit Coin Block?

Blocks are files where data pertaining to the Bitcoin network is permanently recorded. A block records some or all of the most recent Bitcoin transactions that have not yet entered any prior blocks. Thus a block is like a page of a ledger or record book.

What is the value of a Bitcoin?

1. Bitcoin could be the tip of a dangerous iceberg. … Of the 400 or so digital currencies in existence, bitcoin is the best-known and most mainstream. There are 13.1 million bitcoins in circulation (each worth about $600, though like other currencies they’re divisible in much smaller units).

Is Bitcoin a legal currency?

Since it is not regulated by banks, it has its associated risks. … However, currently BI does not have detailed policies of regulating or banning bitcoins usage. On 6 February 2014, Bank Indonesia is stating that bitcoin and other virtual currencies are not currencies or legal tender in Indonesia.

How many Bitcoins have been mined to date?

14 million bitcoins have been mined so far. This represents two thirds of the 21 million bitcoin limit. According to The Genesis Block 10% of Bitcoins haven’t been active since 2012, and a substantial 35% haven’t been spent since 2011. This second number is most likely to consist of lost coins.

Where can I buy a Bitcoin?

Circle offers additional payment methods; you can buy bitcoin with a credit card, debit card, or connected bank account. Coinbase is one of the world’s largest Bitcoin exchanges. Users in the United States, Canada, most of Europe, and Singapore can buy bitcoins with a connected bank account or SEPA transfer.

How long have bitcoins been around?

The first Bitcoin block was mined on 2009-01-03. So then it is safe to assume that Bitcoin’s block chain, miner’s, and network was launched about 10 minutes before. If you love me, you’d give me a Satoshi! The first Bitcoin block was mined on 2009-01-03.

Is Bitcoin illegal ?

That makes lots of governments wary of Bitcoin. But only two have made it illegal: Iceland and Vietnam. Iceland shut the flow of incoming bitcoins, because its central bank restricts how citizens may send money abroad. Vietnam’s government declared trading in Bitcoin and other electronic currencies against the law.

What country uses Bitcoins?

In Cyprus, bitcoins are not controlled or regulated but are not illegal either. The Financial Conduct Authority (FCA) in the United Kingdom (UK) has a pro-bitcoin stance and wants the regulatory environment to be supportive of the digital currency. Bitcoin is under certain tax regulations in UK.

What is Internet money?

Definition. Digital currency can be defined as an Internet-based form of currency or medium of exchange distinct from physical (such as banknotes and coins) that exhibits properties similar to physical currencies, but allows for instantaneous transactions and borderless transfer-of-ownership.

What is the virtual currency?

Virtual Money can be defined as a digital representation of value that is issued and controlled by its developers, and used and accepted among the members of a specific (virtual) community. Unlike regular money, it is relying on a system of trust and not issued by a central bank or other banking authority.

What is Bitcoin trading?

That means it can be traded like a commodity, no different than pork bellies or Florida oranges. That said, exchanges like Mt. Gox act as intermediaries for currency transactions, converting wealth from Bitcoin to US dollars to other national currencies, back to dollars or Bitcoin.

What is a lite coin?

Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Inspired by and technically nearly identical to bitcoin (BTC), Litecoin creation and transfer is based on an open source protocol and is not managed by any central authority.

What is ether currency?

Ether is to be treated as “crypto-fuel”, a token whose purpose is to pay for computation, and is not intended to be used as or considered a currency, asset, share or anything else. … Use a Bitcoin relay to convert a 2 way peg: the bitcoin relay is a piece of code that allows you to sidechain a bitcoin into ethereum.

How do I buy Bitcoins with Paypal?

Go to Virwox.
Deposit money to your account with Paypal.
Buy SLL on the SLL/USD exchange.
Buy Bitcoins with your newly purchased SLL on the SLL/BTC exchange.
Withdraw your Bitcoins.

How can I buy Bitcoins with a credit card?

Quick guide – How to buy Bitcoins with a credit card on Coinbase**Create a Coinbase account.**Go to “settings” – “Payment methods” and click “add payment method.**Click “credit/debit card”**Enter your cards information.**Once the card is confirmed you can go to “buy/sell” and buy your Bitcoins.

What is a bit faucet?

A Bitcoin faucet is a World Wide Web website that gives out “free” bitcoins (BTC) in exchange for doing a simple task, such as clicking on an advert, solving a CAPTCHA, or viewing a webpage for a certain amount of time. There are also faucets that dispense alternative cryptocurrencies.

Can you invest in Bitcoin?

However, it trades on a secondary market, which means its price is not always precisely aligned with the price of bitcoin, but rather by how many investors are currently willing to buy or sell shares. Still, for those who are not comfortable buying and selling bitcoin directly, it is a good option.

How do you trade Bitcoin?

Bitcoin CFD Trading**Start with as little as $100.**Trade Bitcoins CFDs at up to 20:1 leverage.**Bitcoin market open 24 hours a day/5 days a week.**Buy or sell instantly with one-click trading on MT4 & AvaTrader.**Get live customer support when you need it – in your language.

What is the maximum amount of Bitcoins that can be in circulation?

So, ignoring the unspendable genesis block, the sundry lost coins and unclaimed rewards, the maximum number of bitcoins is 20999999.9769 BTC. Of course, it only differs from 21 million BTC by only 3 bitcents, so the difference isn’t significant.

How do you buy Bitcoins at Walmart?

Buy bitcoin with (www.card.com) Pre-paid Debit. CO/OP Shared. 7-11 Prepaid Master Card.**Battle.net. Cash Deposits Bank of America.**Credit Card – Will Buy You Food. Dean & DeLuca Gift Card.**Dunkin’ Donuts.

4 steps to make your own business website | superbanswer

1- Domain name

Domain names are used to identify one or more IP addresses. For example, the domain name microsoft.com represents about a dozen IP addresses. Domain names are used in URLs to identify particular Web pages. For example, in the URL https://www.superbanswer.com/, the domain name is superbanswer.com.

2- Web Hosting:

Web hosting is the service that makes your website available to be viewed by others on the Internet. A web host provides space on its server, so that other computers around the world can access your website by means of a network or modem.

3- Idea of business:

A business idea is a concept that can be used for financial gain that is usually centered on a product or service that can be offered for money. An idea is the first milestone in the process of building a successful business

4: building a website:

Now a days, you don’t even need to know HTML and CSS to make a website. There are a lot of free website builders that make creating websites really easy. If you want to make a complex website, you should know HTML and CSS for designing it. And a little bit of PHP and MySQL if you want functionality like registration and login.

e-Residency offers world citizenship

e-Residency offers to every world citizen a government-issued digital identity and the opportunity to run a trusted company online, unleashing the world’s entrepreneurial potential.

The Republic of Estonia is the first country to offer e-Residency — a transnational digital identity available to anyone in the world interested in administering a location-independent business online. e-Residency additionally enables secure and convenient digital services that facilitate credibility and trust online.

e-Residents can:

  • Digitally sign documents and contracts
  • Verify the authenticity of signed documents
  • Encrypt and transmit documents securely
  • Establish an Estonian company online. A physical address in Estonia is required to establish an Estonian company. An Estonian address may be obtained via an external

service provider.

  • Administer the company from anywhere in the world.
  • Conduct e-banking and remote money transfers. E-residents are not guaranteed bank accounts and may establish them only at the sole discretion of our banking partners after an in-person meeting. We highly recommend you contact a business service provider to facilitate this process. Please do not book travel to Estonia with the purpose of opening a bank account without first consulting a business service provider.
  • Access online payment service providers
  • Declare Estonian taxes online. e-Residency does not automatically establish tax residency. To learn about taxation and to avoid double taxation please consult a tax professional.
  • All of these (and more) efficient and easy-to-use services have been available to Estonians for over a decade. By offering e-Residents the same services, Estonia is proudly pioneering the idea of a country without borders.

e-Residents receive a smart ID card which provides:

  • digital identification and authentication to secure services
  • digital signing of documents
  • digital verification of document authenticity
  • document encryption
  • e-Resident id-card

 

Digital signatures and authentication are legally equivalent to handwritten signatures and face-to-face identification in Estonia and between partners upon agreement anywhere around the world. Recent changes in EU law mean that within the next few years Estonian e-residents will be able to easily identify themselves, access online services, and conduct business across Europe. The e-Resident ID card and services are built on state-of-the-art technological solutions, including 2048-bit public key encryption. The smart ID card contains a microchip with two security certificates: one for authentication, called PIN1, and another for digital signing, called PIN2. PIN1 is a minimum 4-digit number used for authorization, and PIN2 is a minimum 5-digit number for digital signing.

e-Residency does not confer citizenship, tax residency, residence or right of entry to Estonia or to the European Union. The e-Resident smart ID card is not a physical identification or a travel document, and does not display a photo.

Kaspar Korjus, e-Residency Programme Manager:

„We deeply appreciate the vast amount of positive feedback we have received so far – it is an exciting journey to embark on and we are eager to see where it will lead. Since we are still in early beta, there are some challenges to overcome. We have added a Help box (below right), and we encourage you to help us improve the experience on any of the services.“

We encourage you to apply for e-Residency!

Please subscribe to our newsletter to stay informed as we enhance and grow the program!

Media, partners, and prospective e-Residents may download a summary overview of the program or program presentation

ref “e-estonia.com”

Main Focus Of GB Techno house

Main Focus Of GB Techno house

GB Techno house is Startup fast-growing business that aims to meet a marketplace need by web development and designing. Our main focus is to help both small and large companies build their brand whether they’re just starting up or already have a business going. We specialize in Ghraphic Designing, Web Designing, Web development and Application development. Our developer has created the www.superbanswer.com. We are based in karachi, Pakistan. We have a dedicated team of 10 professional designers and developers with over 5-10 years of experience and we thrive on the idea that design makes a difference.

Our services at a glance:

1) Website development (Custom Website Development, PHP Programming, etc.)
2) Website designing (Logo Design, HTML designing, corporate website design, PSD to XHTML/HTML, etc)
3) Open source customization/ CMS (WordPress etc.)
4) Ecommerce website development
5) Web Programming Services (PHP MySQL Development, PHP Frameworks, JavaScript Frameworks etc)
6) Responsive Website

Kinds Regards,
Muntazir Abbas
Business Executive