The internet has fundamentally changed the way we view many things. From entertainment consumption to public discourse, the web has connected the globe in a way that cannot be ignored.
But in addition to our entertainment, the net has also given way to a brand new form of exchange. Known as cryptocurrency, anyone can now create their own form of virtual currency.
From the meme-driven Dogecoin to Burger King’s Whoppercoin, it seems as if there’s a currency for everyone. Yet none have sustained the popularity of the original, Bitcoin.
Through a powerful Peer-to-Peer network, Bitcoin mining software has slowly taken over the web. Thanks to its low processing fees and relatively low mining cost, Bitcoins are more popular than ever.
But before you start mining, you’ll want to read our guide. Here are 5 things to know before downloading this software.
1. The Basics of Bitcoin Mining
So how does it work? In essence, the process is actually fairly simple, but be sure to consult Bitcoin’s guide. A user installs mining software on his or her computer and lets it run continuously.
As the software connects to other networks, each network connects back to a central network. So while there isn’t a central bank system for Bitcoin, all transactions are stored on the network.
The stronger the network, the more powerful the value of Bitcoin.
2. Not Everyone Accepts Bitcoin
One of the only downsides to paying with Bitcoin is that not every site accepts it. While lots of online sites such as Overstock and Dish accept it, it won’t replace your debit card anytime soon.
The good news is that sites all around the globe accept Bitcoin as payment. Furthermore, Bitcoin transactions are often faster than a PayPal transaction.
3. You’ll Need a Strong Power Supply
While it’s tempting to view Bitcoin as a way to make free money, that’s not quite the case. You’ll need a pretty powerful machine to mine Bitcoin. In fact, it requires so much power that many individuals rent out spaces and servers.
While the software itself is easy enough to run, processing power can be an issue. You’ll need a PC capable of long hours and tons of power consumption.
Check if your current computer is capable of running Bitcoin mining software on a regular basis.
4. The Bitcoin Market Fluctuates
The primary concern among Bitcoin miners is the temperament of the market. Bitcoin has a tendency to ebb and flow at a rate that “normal” currencies just don’t see.
If you choose to download Bitcoin mining software, expect to see the value drop and rise rapidly. Check the Bitcoin Market Journal for up-to-date info on the current Bitcoin rates.
5. Most Bitcoin Mining Software is Free
Now for a bit of good news. Aside from hardware, it costs virtually nothing to get started! You can download most software for free.
Take a few minutes to research the various types of software. While they all perform the same task, some work better on certain systems than others.
Download Bitcoin Guides
Despite its flaws, Bitcoin is still a tremendous force in the marketplace. Check out our selection of downloads to learn more about how you can start mining Bitcoin today! You’ll get great information from highly trusted sellers.
And don’t forget that we offer tons of other downloads. From movies to music to software, we have all the options you’ll need!