People who are regularly surfing the internet highway is well aware of the Bitcoin phenomenon exploding in cyberspace. Everyone wants a piece of this new found wealth that may seem to be a goldmine for treasure seekers. Most internet enthusiasts want to become a bitcoin miner in the hopes of making it rich with the discovery of mining such fortune from the web.
The acceptance of BTC as a cryptocurrency is the wealth that many of the internet-savvy individuals aspire for in the web. The digital cash is in circulation to pay for goods and services offered in cyberspace. There are ways to obtain the bitcoin from the web. An individual may purchase bitcoins directly from the exchange site using the US dollars, the British pounds, or the Euro currency. The other method to acquire BTCs is by being a bitcoin miner.
How to become a Bitcoin Miner
To become a bitcoin miner, one has to possess the tools to mine the cryptocurrency. In the early years of bitcoin mining, it is possible to mine BTCs using your computers or a high-speed video processor. Today, this method is no longer applicable to the high cost of electricity consumed, more than the cost of obtaining the crypto money. Bitcoin value as of this writing is $15,059.54 and continues to gain momentum in the market.
It is advisable to procure a BTC mining hardware for the convenience of bitcoin miners. Miners should ensure that the cost of mining BTCs is far lesser than the present market value of the crypto cash. If bitcoin miners do not profit from their operations, there is no point to become a bitcoin miner.
How bitcoin mining works
Understanding what bitcoin mining means is essential before a bitcoin miner starts his work. BTC mining is obtainable by running the SHA256 double round hash verification process for BTCs transaction validations and give the needed secured codes for the public ledger in the Bitcoin network. BTC mining speed rate has a measure of hashes per second indicating how much a mining equipment capacity.
The Bitcoin Network awards the bitcoin miners by issuing bitcoins to those contributing to the computational power that the BTC mining relies on. The BTCs come from the new bitcoin issuances and from the minimal fees charged when validating mined bitcoins. When bitcoin miner contribute more computing power, it means a more BTCs share of the rewards they will earn. They add transaction records to the blockchain ledger called the blockchain.
A bitcoin miner has to procure the BTC mining hardware to start accumulating their coveted online treasure. The recommended hardware for the bitcoin miners are :
1. AntMiner S7 with a BTC earning capacity of 0.1645 BTC per month. The mining equipment has a 4.73 Th /s capacity with a power efficiency of 0.25 W/Gh. It weighs 8.8 pounds and costs $479.95.
2. AntMiner S9 has a Bitcoin earning capacity of 0.3603 BTC per month. This tool has a capacity of 13.5 Th/s (terra hashes per second) and has a power efficiency 0.098 W/Gh. Its weight is 8.1 pounds and costs $1967.95.
3. Avalon 6 produces 0.1232 BTCs per month with a capacity of 3.5 Th/s. The instrument has a power efficiency of 0.29 W/Gh weighing 9.5 pounds. The price is $499.95.
Bigbook.ag betting software accepts bitcoins in its sportsbook wagering
One of the avenues that accept BTC produced by the bitcoin miners is the online betting services that sportsbook companies. Bigbook.ag welcomes the transfer of the bitcoin to the betting software BTC wallet. The site has its own BTC payment option facility that receives the blockchain passwords from players who wish to wager online using their bitcoin accounts.
Upon deposit of the punter’ bitcoins to the betting software wallet, the online gambler shall wait for the confirmation from the site’s admin before commencing in his betting activity.
The Bitcoin as an essential factor for choosing a pay per head service provider
The exponential rise of the bitcoin in the market value has seen the invasion and preference of the cryptocurrency in the pay per head service betting site. The bitcoin’s prediction to take over the betting medium in the online gambling arena is imminent due to its convenient wagering properties.
The BTC is free from any government or financial control. This independence makes it possible for bettors to place their wagers unencumbered by cash regulators that block its transfer, especially in the betting industry. The feature is what BTC account holders want with their pay per head services in a betting software. The freedom to transfer their money to betting sites. Bigbook.ag appreciates the use of BTC understanding its benefits to the sportsbook business and the online gamblers alike.
Bettors would also like that their identities remain anonymous when they place their bets on pay per head service betting companies. Bitcoin is untraceable when a transaction gets through, but it is on record through blockchains which confirms the right destination and withdrawal of the deal.
Bitcoin account holders who deposited their BTC in Bigbook.ag see their bitcoin deposits grow with the increase of its market value which is $14,885.65 as of this writing. Bettors find it comfortable and convenient to place their bets on the bitcoin as it is easy to transact business with Bigbook. If you want to withdraw your bitcoin earnings, it is transferable within minutes from request.
When wagering using the bitcoin cryptocurrency, it is allowable to withdraw from your bitcoin deposit as frequent as you can through the BTC payment option. This feature lets you manage your BTC account properly avoiding the tendency to place your bets through impulse.
The current pay per head service company is incomplete without the bitcoin payment option. The cryptocurrency will soon take over the medium of betting in wagering platforms as predicted by the online betting industry.
Bitcoin miner is responsible for the increase in the bitcoin market cap coupled with the amazing trading run that has its value to what it is today. The internet traffic sensationalized the hype of the cryptocurrency phenomenal surge. The public market seeks to understand the behavior of bitcoin in the market which fueled investments and raises the market capital further.
Flow of Investments for Bitcoin
The surging investment of the bitcoin did not go unnoticed by software betting companies. Bigbook.ag capitalized on the need for online gamblers to place their bets using the bitcoin payment option facility. This move by ushered the increase of online punters that saw the entry of a new category of bettors raising profits and revenues to a new level. The dynamic attraction of investors triggered the surge of investments for bitcoins.
Besides the bitcoin contribution of bitcoin miners to the market cap, surging investments in the BTC came from retail and institutional investments. Retail investors from Korea, China, and Japan pushed BTC prices further in the first half of 2017. The second half saw the institutional money inflow.
Certain institutional groups had been waiting to get comfortable to the presence of BTC in the market before dipping in. Financial entities like hedge funds, rich individuals with high net worth, banks, and soon to wade in will be pension funds and sovereign health funds. The more than 700 Initial Coin Offerings (ICO) also increased the value of the Bitcoin as bitcoin miners continue their mining operations.
ICOs effect on the Bitcoin
The number of Initial Coin Offerings sprouting in the web gave rise to the value of the bitcoins. The ICOs give monetary value to their private tokens when they sell their coins to interested parties who want to ride on the bitcoin bandwagon. Getting involved with ICOs allows Bitcoin and Ethereum trading with the newly formed crypto money plus the addition of the work of bitcoin miners appreciates the BTC value even more.
In effect, the wide acceptance of the bitcoin to purchase goods and services got the attention of the online betting sites. Excited to join the fray, big book.ag decided to install the bitcoin payment option facility and start accepting the cryptocurrency in its betting operations.