What is ALL this fuss about BITCOIN?!


Either you’re a pc gamer or just a lazy teen who surfs his Facebook during his classes, you might have come across the term “Bitcoin”, especially during these last few months in all those numerous post you see everyday on Facebook.

if you’re a pc gamer you already know how much impact this Bitcoin thing has on the market, nearly all the economic high end gaming cards in the market have disappeared, now what is the link of gaming cards and Bitcoin and most importantly, WHEN WILL WE BE ABLE TO BUY GOOD GRAPHICS CARDS AGAIN?!!!!

 

So, “yar yey Bitcoin hay kia?”

Bitcoin, as the name implies is the name of a currency, ok before you start imagining a coin with a capital “B” imprinted on it, stop right there..

 

Bitcoin IS a currency, but not like our everyday currency, Bitcoin is from a class of currencies called “crypto-currency” or “virtual currency”, and has no physical form whatsoever.

“A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.”

                                                                                                                                                -Wikipedia

 

 

han han, I know, upr say guzar rha saab kuch, bear with me,

 

So in a nutshell, virtual currencies are digital and have no physical form, work on the basics of encryption of data, and can be used to buy stuff. Bitcoin was the first cryptocurrency to be introduced, back in 2009 and since then its value has increased drastically

“But what makes it any different from other currencies?”

Well the most important point here is that “no on controls Bitcoin, and that makes it way secure and anonymous”. Other than that it’s easy to use, you don’t need to provide any personal details, and the most amazing part about cryptocurrency *drum roll* “MINING” *record scratch*… huh? “awb yey mining kia hay?!” in simple words, crypto-currency requires the encrypted code to be solved for making any transaction, that does slow down the process but the good part is, this solving requires computers, and as the currencies aren’t being controlled by anyone, anyone can participate in that, “but what do we get from that?” thought you’d never ask, well mining makes new Bitcoins, like a bank prints new paper currency, and guess who gets that newly made Bitcoin? Yea u got it, the person who is participating in mining, YOU!

“lekin bitcoin? Graphics card? Connection kia hay bhai?”

 

Oh crab! almost forgot, the thing about mining is that you’re standard processors are no good when it comes to crack that code, the reason is a bit tricky so let’s skip that for now, all u need to know right now is that, GPUs are really good when it comes to mining, cards like AMD RX-480, RX-580, GTX 1060, they all are great for mining because they are economic and are great at mining…

“Oh bhens! yey walay card toh meray pas bhi hain! Can i start mining?”

YES OFCOURSE! If you have a GPU of any kind, you can start mining RIGHT NOW, all u need is a crypto-wallet and you’re good to go!

Processors can also be used, it’s not like they’re completely useless, but you won’t make much out of it.

 

“yaar yey saab choro, yey btao cards sastay kaab ho rhay.. T_T”

Well, looking at the charts and all, I must say, you’re not going to find good economic GPUs at their traditional rates anytime soon (yea, we all know that pain),

 

 

Phew” that went well…

Well are you all EXCITED about mining! Do u want tutorials on how to start mining at your home?

Leave your answers in the comments!

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What is ALL this fuss about BITCOIN?!

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