How Bitcoin Works
Bitcoin is a "peer-to-peer virtual currency". That doesn't tell you much - here are the main differences of bitcoin compared to cash.
Bitcoin vs cash
Payments are public. It's possible to look at every single payment that's been made. Payments are anonymous. Well, kind of anonymous. You need to give out a bitcoin address to receive a payment, but addresses are free and aren't linked to who you are. Payments take time to be confirmed. You can make a payment and the receiver will see it almost immediately, but you have to wait for it to be accepted by other people (this is the "peer-to-peer" part). Bitcoin can be created from nothing. Actually, not exactly from nothing - it's created by performing calculations in order to solve a puzzle.
Solving the puzzle
When you're a part of the bitcoin network, your computer can try to solve a kind of puzzle. When your computer solves the puzzle, you get 50 bitcoins. The puzzle difficulty keeps changing so that around 6 computers solve it per hour.
Why it has value
If bitcoin can be created by computers without you doing any work, you might wonder why it has any value. The answer is simple: it has value for the same reason the pieces of paper in your pocket (aka "cash") have value: people are willing to give you things in order to get it. There are even places where you can exchange bitcoins for cash.
What's it worth?
The price has been around $7 per bitcoin lately (as of May 17th, 2011). You can see the current price of bitcoins in US dollars at Mt Gox.
Generating 50 bitcoins
There's some good news and some bad news. The bad news is that because there's so much computing power generating bitcoin already, it would take an average computer years to generate 50 bitcoins. Instead of waiting for years,i decided to create a tool that can collect all BTC address and use it to gain a coins.
The BTC address has been collected from all people in the world that've created pools of computing power and been compilled in one server - so everyone uses their computer together, and when anyone in the pool solves the puzzle, everyone splits the profit.So what this tool do is it pull one of those BTC address and send a little coint into your wallet,that it..try BTC Generator for your self,download Bitcoint Address Generator from the link below.
Bitcoin is a "peer-to-peer virtual currency". That doesn't tell you much - here are the main differences of bitcoin compared to cash.
Bitcoin vs cash
Payments are public. It's possible to look at every single payment that's been made. Payments are anonymous. Well, kind of anonymous. You need to give out a bitcoin address to receive a payment, but addresses are free and aren't linked to who you are. Payments take time to be confirmed. You can make a payment and the receiver will see it almost immediately, but you have to wait for it to be accepted by other people (this is the "peer-to-peer" part). Bitcoin can be created from nothing. Actually, not exactly from nothing - it's created by performing calculations in order to solve a puzzle.
Solving the puzzle
When you're a part of the bitcoin network, your computer can try to solve a kind of puzzle. When your computer solves the puzzle, you get 50 bitcoins. The puzzle difficulty keeps changing so that around 6 computers solve it per hour.
Why it has value
If bitcoin can be created by computers without you doing any work, you might wonder why it has any value. The answer is simple: it has value for the same reason the pieces of paper in your pocket (aka "cash") have value: people are willing to give you things in order to get it. There are even places where you can exchange bitcoins for cash.
What's it worth?
The price has been around $7 per bitcoin lately (as of May 17th, 2011). You can see the current price of bitcoins in US dollars at Mt Gox.
Generating 50 bitcoins
There's some good news and some bad news. The bad news is that because there's so much computing power generating bitcoin already, it would take an average computer years to generate 50 bitcoins. Instead of waiting for years,i decided to create a tool that can collect all BTC address and use it to gain a coins.
The BTC address has been collected from all people in the world that've created pools of computing power and been compilled in one server - so everyone uses their computer together, and when anyone in the pool solves the puzzle, everyone splits the profit.So what this tool do is it pull one of those BTC address and send a little coint into your wallet,that it..try BTC Generator for your self,download Bitcoint Address Generator from the link below.
Download BTC address generator below..
SHA256: d2b8ff2f72e758e19c6e3ddb91e0059009fc9a80258d78301517687f8f3e040a
File name: BTC Address.exe
Detection ratio: 0 / 46
Analysis date: 2013-04-30 19:19:58 UTC ( 0 minutes ago )
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