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  • !1!
    Take a look to the Moonbit bitcoin daily and 5 minutes faucet

    Simple to explain bitcoins

    Explain bitcoins in a few steps?

    You can not touch Bitcoin money

    One of the most difficult aspects surrounding Bitcoins, or any cryptocurrency for that matter, is the fact that you cannot touch, smell, or in any way feel Bitcoins like you can other currencies.

    This alone makes it difficult for many to see the possibilities of Bitcoin or even taken an interest in understanding Bitcoin. The friends you have that want to understand Bitcoin will understand it for the ones that don’t, so the first step to properly explaining Bitcoins to your friends is to not get frustrated.


    What is the back of Bitcoin  

    What backs the major currencies of the world. If they are decently financial savvy they will know that nothing backs major currencies, yes gold used to back the USD but that has not been the case for more than a half century.

    The face value of a currency is slapped on to a bill and passed to us as a representation of a value, simply because the government says so. The actual value of the bill, in terms of what goods can be purchased for the bill, is determined by the financial marketplace (think the trading pits of old) and government regulations (the same government that gives the currency value). If they are not very financially savvy you of course should relay them this fascinating and necessary information to them.

    About bitcoins

    Bitcoin is a digital currency. It works at peer-to-peer system what means that no central authority issues new money or tracks transactions.

    These tasks are managed collectively by the network. The network consists of users like you and requires no intermediaries between you and which you are working

    This decentralization is the basis of safety and freedom of Bitcoin. Each transaction is validated by the miners, so there is no feasible way to hack. It is safer than bank account, just keep an eye on your bitcoin wallet. 

    Bitcoin mining - what is this?

    Bitcoin mining is a process that is used to manage Bitcoin transactions. The users who do this process of mining are known as miners. A small fee is charged during on the transaction and are paid to these miners.

    Thus, miners make money by Bitcoin mining. You can also become a Bitcoin miner and starting mining. But mining with your pc or laptop will consume lots of power and will give you very small amount of bitcoins and might not be profitable. So special hardware comes for bitcoin mining and they are fast enough for Bitcoin Mining.

    There are a lot of faucets, so you can make some coin on this way. You need to earn 0.00010000 BTC to get 5 cents per minute, otherwise you are just wasting electricity and your computer components are dying too. Even then most people would rather signup for "get paid to click" websites, cashout in payza, paypal or another of the various wallets and then convert to bitcoin.

     

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