This small text is for beginners. But experienced Bitcoin users can change their view of crypto currency after reading it.
- Any crypto currency is a program code, a network of users of this code, and a set of computing powers involved in the operation of this network.
- The value of modern crypto currency is determined, basically, by the number of users. The more coin users - the more valuable it is. That is why many people like to mine and buy new altcoins, while they are still cheap and the difficulty of mining is not high.
- If PoW is used in a coin (as in Bitcoin or Litecoin), then the value of such a coin is ultimately formed from the cost of the computing power used to produce it and the cost of electricity.
- In other words: Bitcoin is so expensive because it uses a lot of people, and a lot of electricity is spent on maintaining its network.
- So, when you buy a video card and start mining Bitcoin - you are, in fact, doing this: investing your money in the Bitcoin network, thereby increasing its total cost and the value of the coin.
- But in the Bitcoin network, in addition to you, there are still a lot of big players, from which, ultimately, the value of the coin depends. And you can on this how to make a profit, and lose your money.
- And when you start to mine a new coin, for example
Halfcoin, then your contribution to this network is more significant for the network as a whole. That is why you can get for the calculation of the block not 100 satoshi, but 50 full-value coins. Which in time can grow in price to the level of Bitcoin.
- Therefore, some people do this: they mine a significant number of new coins, and then actively attract new users to the network of this coin. To the value of coins, which they already have, has grown.
- It is also important to understand that the rights to open source coins, such as Bitcoin or Halfcoin, belong to ALL network members. That is, if you have 1 BTC or 1 HALF, you can safely say: "This crypto-currency network is my own." And about your bank you cannot say so - this is the key difference between a cryptocoins and dollars.
- Bounty is your investment in the development of the cryptocoin-network. But instead of money, you invest your time and your work. Receiving coins for this, and thus becoming a co-owner of this cryptocoin-network. Bounty is a very interesting type of partnership, where the interests of the parties are protected by a cryptographic algorithm.
- Bounty is such a thing when we together develop some kind of cryptocoins, increasing its value. And it is profitable for all of us, because we all have this coin, and we are all interested in the growth of its value.
The
Halfcoin project is now looking for bounty experts willing to organize and host a bounty for a good reward in Halfcoins. If this is about you - write in a personal. And if you are not very experienced in the bounty - you can just join the mining of Halfcoin - it's promising.
Halfcoin's BTT-theme:
https://bitcointalk.org/index.php?topic=3320806
