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Sunday, March 10, 2013

GUIMiner Basics How to Setup!

Here is an image of GUIMiner

1. This area you will choose the server you will be mining for and as for the previous time, we will use Slush's Pool.

2. Here goes the username, and from last time I said to write it down, but if you didnt you can get a copy of the username and password at Profile.

3. Here you select which GPU/CPU you will want to use. 

4. Here goes the password provided by mining.bitcoin.cz

5. Here you put flags, they will make your system give the best performance which will generate more bitcoins! You can find a list of flags here.

6. Here you choose how many cpu cores you want to run for the miner. Choosing less will make your computer generate less lag.

7. Once you have filled everything in click start mining! and refresh the slush's pool homepage and you will start earning! :)

Mining for BitCoins! :)

There are various ways to mine for BitCoins, but the one most start with is Slush's Pool you can download a miner and start mining. One top miner I suggest you use is GUIMiner. Which you can download here.
What is GUIMiner? "GUIMiner is a graphical frontend for mining Bitcoins. It provides a convenient way to operate Bitcoin miners from a graphical interface. It supports both ATI and NVIDIA GPUs, as well as CPU mining. It supports both pooled mining and solo mining, and embeds a list of mining pools to choose from." -guiminer.org
There are plenty more but I wouldn't suggest so. Moving on you can now sign up at slush's pool for an account, You will need your bitcoin address. Now when your done signing up you will be given a a worker id and a password for it. Keep those somewhere you are going to need them for GUIMiner!

Saturday, March 9, 2013

What is a bitcoin?

A Bitcoin is a decentralised digital currency created in 2009 by Satoshi Nakamoto.
The price of only 1 Bitcoin as of today March 9, 2013 is $40!
You can get them various ways, but if you want to get them for free and fastyou can easily get a wallet at BlockChain.info if you don't want to go through the hassle of downloading the client.
One way to get bitcoins is to mine them! 
This can be a hard task if doing by yourself, but if you join a pool. You can mine them way faster, but be aware the payouts are low and fee rates can be high.
The Best way I suggest is coinreaper.com This site makes it easy as you just insert your wallet number and off you are filling a few captchas and receiving your satoshi in a few hours, depending if payouts were send out a while ago.
Now that you have some btc what do you do with it?
Well its easy you can buy stuff, or you can either gamble it and double it then sell it. It would rather be safe to sell half and keep the rest safe as btc prices are skyrocketing over the years. This doesn't mean they could fall.
Well this is basically a brief introduction into BitCoins! 
Hope you all find this useful!