Login |  Register










Labor Trade


Go BackUnited States
Sunrise: 07:01 AM EDT
Sunset: 06:59 PM EDT
 Chat Room
Change Area

Cryptocurrency Explained
Buy Coins
Coin | Token ]
Learn and Earn
Bitcoin Hopper
Mining Coins [ Pool | Equipment ]
Herbsters [ Reward | Award ]
Learn and Earn Crypto
 Cryptocurrency - Your work is done in shifts. You are paid when blocks are found.
Each coin is in an algorithm for example "scrypt". There is a network time of for each block for example 2m 30s. Every "network time" has there own block reward of coins for example "50". Block half every so many blocks for example 250,000.
Miners are awarded tickets at each network time for the current block in a mining pool the block reward coins are split between the miner pool workers or solo - (whole block).
Software - Decentralized Peer to Peer
Commonly hosted at GitHub downloaded and installed on Linux, Windows systems.
The blockchain is so important this is the list of verified transactions stored on the hard disk.
Wallet - Unique Address
Your wallet is a password-protected storage for your earnings and keeps a network-wide ledger of transactions.
You will get your wallet address from either a software program, or a website exchange. [More Common - website exchange]
Your wallet address is where you deposit coins. This address is a combination of letters and numbers.
Do not mix up the address this will cause loss of coins. Each address is specific to its coin.
0.00000000 satoshi the term used for your coin holding a value.
USD to Satoshi to BTC
At bitcoins current price 0.000028 satoshi is worth $1 USD at the current market.
What is a seed phrase?
A seed phrase, also known as a recovery seed or a secret private key phrase, is a sequence of 12-24 words you can use to restore a private key wallet. It’s the only way to backup a crypto wallet. If you lose the phone, computer, or hardware device you use to access your crypto, you will need to enter your seed phrase elsewhere to restore your private key wallet and its contents. After all, you don’t need your seed phrase to access your funds; it’s a backup method to restore your funds. So, if you lose your physical device and your seed phrase, that’s when you can panic.
BlockChain - Transaction Data
a growing list of records called blocks, which are linked using cryptography has of the previous block, a timestamp and transaction data (generally represented as a merkle tree root hash.)
Block Reward
The block reward simply refers to the new coins distributed by the network to miners for each successfully solved block. Every 210,000 block are mined or confirmed, by the system halvening will occur.
Hashing Power
A hash is the output of a hash function. Hash rate is the speed at which a computer is completing an operation in the cryptocurrency’s code. Therefore, the amount of hashes are measured in hashes per second. A higher hashrate increases a miner’s opportunity of finding the next block and receiving the block reward.
The luck of a mining pool is probabilistic in nature. Imagine that each miner is given a lottery ticket for a certain amount of hashing power they provide. If you were to provide 1 TH/s of hashing power and the overall hashing power in the network is 10 TH/s then you would receive 1 of 10 total lottery tickets. The probability of you winning the lottery (finding the block reward) would be 10%. So for every 10 blocks found you should statistically find 1 of them. Now imagine that you found 2 out of the 10 blocks, this means that you found a block earlier than you statistically should have on average. You are lucky! Now imagine you found 0 out of 10. This would make you unlucky. Over the long run statistically you should receive on average 1 out of 10 (or 10%) of blocks, but there is short term variance.
Mining Pool
All in all, mining is attempting to unlock each block to get the reward that is in it; the more attempts (hashes) you can perform per second the higher the chances you have to get the reward (i.e. the more lottery tickets you have the higher your chance of winning the lottery). Because miners by themselves typically don’t have enough hashing power to consistently find blocks they join a pool that pools everyone’s hash power and combines it to hash blocks. With more hashing power it is easier to find blocks. Then, the reward is split among the miners based on the amount of work they contributed and a small fee is given to the pool operator.
Block Explorer
A Block Explorer is a website that will give you transaction details for the specific coin you are browsing.
Exchange - Buy, Sell, Trade
Membership at an online currency exchange, where you can exchange your mined coins for cash or Bitcoin.
Mining Pool - Purpose, Equipment, Network Time
You need a membership in an online mining pool to get coins.
When someone mining in the pool finds a block you get paid.
Your share of the coins from the block depends on your share of the work done.
Confirmations are the name of valid blocks; verifying transactions.
Rule in bitcoin blockchain: 10 minutes - time required to mine a single BTC block.
CPU - Central Processing Unit
USB - Universal Serial Bus
GPU - Graphical Processing Unit
ASIC - Application Specific Integrated Circuit

Pool Mining usually shows rewards, lottery mining or solo mining is more profitable not as lucky though.
Its cool to have mining equipment just somewhere secure with good electricity and decent ethernet access.
Coins (Mine, Trade) & Tokens (Trade)
algorithm of the coin
genesis block 0, Nonce, Merkle Root, RPC Port
Mining Pools and equipment
Exchanges Buying and Selling crypto coins and market distribution.
Block Explorer (Height, TX, Address)

Create QR Codes in PHP
QR Code
Your Status
Only Members Have This Feature.
Disclaimer | User Policy | Hand Book | Referral

ASCII | Network Health | API Docs | Statistics

Visit Us On Your Mobile Device Web Browser.
© Location.best LLC 2023 | 1695936834
IRC - Internet Relay ChatHelp
Server: irc.location.best Port: 6667
IRC CommandHelp Channel: /join #help
Web Client - http://irc.location.best