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Make money with your computer


HOW TO BUY BITCOIN IN AUSTRALIA

Bitcoin, often referred to as a cryptocurrency, is a digital or virtual form of
currency that operates on a decentralized network called blockchain. Unlike
traditional currencies, it is not controlled by any central authority, making
transactions more transparent and secure. Blockchain, the underlying technology,
ensures the integrity of transactions through a distributed ledger. Australia's
economic stability and growth make it an attractive market for Bitcoin
investors. Additionally, the increasing acceptance of Bitcoin in businesses
across the country has fueled its popularity as a viable investment option.

Learn more about Qloud

How does mining work?


PUT YOUR COMPUTER TO WORK

Bitcoins are created by computers doing work on an agreed-upon problem, called
the *block*. The work is called *hashing*. When a computer finds the solution to
the work, it shares the results, called the proof of work, to the other
computers involved in the Bitcoin distributed network. The network then checks
the solution and if it's correct, rewards the finder with Bitcoins!


A 50 BTC LOTTERY

Currently, the reward for a successfully mined block is 50 BTC! If your computer
finds it, you win that block! The other important thing about mining is that as
more people mine, it becomes harder and harder to find that solution, so get
started now!


HOW DO I MINE?

To mine, you'll need Bitcoin mining software, and computer hardware to do
hashing, probably a nice AMD video card.

The speed at which you mine is rated in hashes per second. Older computer CPUs
mine in the kilohashes or thousands of hashes per seconds, and modern high-end
CPUs can mine up to 66 Mhash/s (megahash per second).


GAMING COMPUTERS WORK

The problem is, video cards, with their GPUs, mine much faster than CPUs ever
can – a good video card such as the AMD 7850 [affiliate link, grab actual data
from https://en.bitcoin.it/wiki/Mining_Hardware_Comparison ] can mine 329
Mhash/s, so mining with your CPU will not make money. GPUs can do a lot less
than the CPU in your computer, but what they can do, which includes Bitcoin
mining, they can do a lot faster.

AMD video cards are suggested because they mine a lot faster than Nvidia GeForce
cards – for example, $200 can get you 300 Mhash/s with AMD or 80 Mhash/s with
Nvidia.


MULTIPLE VIDEO CARDS ARE BETTER...

You can use just one video card in a computer, or you could put multiple video
cards inside one computer. You don't need SLI or CrossFire used for having
multiple video cards work on one computer, you just need to have the cards
plugged into the motherboard in the proper slots and recognized by the computer.


FPGA IS FASTER

There's something even better than gaming computers - specialized mining
hardware, such called "FPGA miners" or ASIC miners, which mine even faster than
GPUs for a much higher cost and the inability to do anything BUT mine. For
example, there's
[affiliate links to FPGA/ASIC miners.]
FPGA/ASIC miners get their own special software. If you've decided to stick with
GPU mining, however, you need to download mining software that will let you mine
using the GPU inside the video card.


MINING SOFTWARE

For Windows, the easiest mining software is GUI Miner, available here
https://bitcointalk.org/?topic=3878.0 You'll also probably need OpenCL
http://developer.amd.com/gpu/AMDAPPSDK/downloads/Pages/default.aspx installed if
you used AMD cards as suggested.




Download and start mining Bitcoins!

In Australia, several cryptocurrency exchanges offer a variety of features and
services. It's essential to compare them based on factors such as fees,
security, and user interface. Opting for a reputable exchange is fundamental to
a positive buying experience.





BUYING BITCOIN

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> How to buy Bitcoin in Australia
> 
> With funds in your account, it's time to buy Bitcoin. Follow the step-by-step
> guide provided by your chosen exchange, and consider market trends for optimal
> timing. Remember, patience is key in the world of cryptocurrency.

> For long-term storage, consider transferring your Bitcoin to a hardware
> wallet—a secure, offline device. Implement additional security measures, such
> as biometric authentication or secure PINs, to safeguard your investment.

 


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