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Showing posts from April, 2015

Introduction to Genesis Mining

Understanding Bitcoin   If you are like me then you are have probably are looking for a way to invest in bitcoin or some kind of alt coin. I am assuming that if you're doing research on bitcoin mining you have an idea of what Bitcoin is all about. If you are totally new to Bitcoin then I recommend you watch this video. Before you do invest in bitcoins and alt-coins I recommend you consider the risks associated with digital currency. I would not recommend investing a large amount of cash into any cloud-mining website like Genesis Mining until you understand how mining works and the risks associated with mining. Two of the major risks to be aware of before mining is the bitcoin/alt-coin value volatility and the current and future difficulty of the algorithms to mine coins . Bitcoin has a limit of 21 million bitcoins (expected to be reached by year 2140). Right now we are able to mine bitcoins at a profitable rate but as time passes bitcoins will become