All About BTC, LTC, ETH mining as well as other alternative crypto currencies
The cloud mining company Genesis Mining is going to be adding a new alternative crypto coin to the list of coins you can mine with the cloud hashrate you can purchase from them. After a survey among the company’s customers to see what are the most wanted coins to be added, the list was shortened to just 4 crypto coins – Ziftrcoin (ZRC), Peercoin (PPC), Primecoin (XPM) and Zetacoin (ZET). Out of these four two are using SHA-256 – Zetacoin and Peercoin, so you should be able to mine them directly and the two others – Ziftrcoin and Primecoin are using different algorithms, so you will be able to get paid in them if any of them gets chosen as the new addition.
So we come to the point where you can vote in a poll to choose the coin you want from the four top choices and get the chance to win some cloud mining hashrate. Three people from all who vote will be getting 500 GHS lifetime cloud mining hashrate each at the service (the winner will be picked randomly). All you have to do is cast your vote in the special poll at the official Facebook page of Genesis Mining and you have until Friday May 22, 2015 at 11 pm CET to do so.
Zetacoin is an open source crypto-currency based on Bitcoin. It has faster transaction times and faster difficulty adjustments. Initial coin mining is 160 million coins, thereafter a yearly inflation of 1 million coins. Zetacoin is 20x Faster than Bitcoin, making it one of the fastest for transactions among digital currency and thus perfect for real-world commerce and trade.
– Announcement at Bitcointalk
Block Explorer / Crawler
– at GitHub
Bitcoin is a peer-to-peer digital crypto currency introduced as open source software back in 2009 by a developer referred as to Satoshi Nakamoto, though it seems that nobody knows the real developer’s name. Bitcoin is called a cryptocurrency, because it uses cryptography algorithms to control the creation and transfer of the digital money. Users send payments by broadcasting digitally signed messages to the P2P network and participants in the decentralized network known as miners verify and timestamp transactions into a shared public database called the block chain. Bitcoins can be obtained by the process of the so called mining or in exchange for products, services, or other real currencies. There are multiple Bitcoin exchanges where you can trade BTC for other crypto currencies or real money, both buying and selling.
Commercial use of Bitcoin is still very small in the form of goods or services that you can purchase for bitcoins compared to its use by speculators on exchanges, which has fueled price volatility. The fact that the exchange rate of a single BTC can greatly vary not only form day to day, but it can also change very quickly in just a minute is one of the most serious concern to merchants that are considering of accepting bitcoins as a means of payment, but still the high exchange rate that is currently over $800 USD for 1 BTC makes it attractive alternative to real money, especially when you also consider the very minor taxes you need to pay for a Bitcoin transaction as compared to credid card processing taxes for example.
Bitcoin is the biggest and most widely known crypto currency nowadays, in fact it is the crypto that started it all and since it generated so much attention many other crypto currencies have appeared. Nowadays it is hard to just mine bitcoins with your computer and in order to actually mine bitcoins at a good rate per day you need a specialized hardware called Bitcoin ASIC or Bitcoin Miner. In the earlier days you could mine with just the processor of your computer, then it was possible to use your video card, but nowadays the network difficulty has gotten so high that mining Bitcoins with your computer you would not be able to just cover the electricity bill with what you earn. Bitcoin uses SHA-256 as its proof-of-work scheme, but there are a few other major alternatives of Bitcoin that use SHA-256 and can be mined the same way as Bitcoin and with the same hardware including the specialized Bitcoin ASIC hardware miners. These are Namecoin, Devcoin, IXCoin, Freicoin, Peercoin, Terracoin, Zetacoin and others. You can mine these coins and then trade them at crypto currency exchanges for Bitcoins and sometimes mining an alternative crypto currency and then trading it for BTC can yield a better profit than mining Bitcoins directly, especially if you have dedicated powerful hardware for that. And one of the latest trends is not buying directly the hardware, but renting it instead and as you can expect it is called cloud mining.