Litecoin wallet Windows 7

You are new to Bitcoins and wonder if it’s a good investment or if Bitcoin mining is still profitable? Then read this quick guide that will answer a few beginner questions

Bitcoins: Is It A Bubble Or The Real Deal?

So, you are new to the world of Bitcoins? Then you and me are in the same boat. I first heard about Bitcoins back in 2009 when I first started this site, but never thought it would really take off and become a serious online currency. I couldn’t have been more wrong! Again, if you don’t share a vision, it doesn’t mean it won’t happen if someone is convinced of the idea and can inspire others to take action. I am not overreaching here if I say that Bitcoin is the gold rush of the geeks.

Let’s take a quick look at the worth of a single Bitcoin back in April 2012 and now in April 2013:

Yes, that’s right the value of the digital currency is exploding and ten-folded in one year! More and more people see Bitcoins as a safe haven for their money, but many ignore the fact that this is a highly volatile, very experimental currency that will see lots of ups and downs. Be VERY cautious!

What Software Do You Need For Bitcoin Transactions

First you will need the “wallet” software that will give you your own Bitcoin address – make sure to back it up and encrypt it or hackers can easily steal your virtual money.

I Heard About Bitcoin Mining – What Is It?

You can mine so called Bitcoin blocks, in simple words you let your computer solve some algorithms that get more difficult over time and as a reward you can earn Bitcoins (it gets a little more technical than that, but I want to keep this short).

• Warning: Before you start investing time and money into Bitcoin mining, here’s a warning: During the goldrush the people who sold equipment made the most money.

There are many companies who professionally mine Bitcoins. When Bitcoins where new, mining Bitcoins was possible with a CPU, but now you need a strong GPU or preferably multiple GPU’s (graphic cards) to mine them. The value of Bitcoins increased dramatically, making this a very lucrative business for some people. However, you need to spend thousands of dollars on mining rigs first or you won’t get anywhere.