Blockchain technology will have an impact similar to the invention of the internet in the early 1990s. This is a type of digital bookkeeping that is hack-proof, forgery-proof and tamper-proof and can be used in any industry.
The blockchain is a collectively used database in which all information is distributed across the entire network of participants. A global network of computers that permanently compares all data, encrypts and stores it in a tamper-proof manner, making intermediaries such as banks, notaries and lawyers largely superfluous. Most people are familiar with blockchain technology from the world of cryptocurrencies, for those people it represents the basis.
The "Bitcoin Mining" enables exactly that: Those who help to operate the Bitcoin network and provide the blockchain with computing power are rewarded with some of the fresh Bitcoins that are created every day and the transaction fees that are incurred in the entire network arise. What exactly happens in Bitcoin Mining and where the term comes from can be found in our FAQs under the points WHAT DOES BITCOIN MINING MEAN? And HOW DOES BITCOIN MINING WORK?
Bitcoin is the oldest, largest and by far the best-known cryptocurrency in the world.
The Bitcoin blockchain - completely independent of banks and governments - is not only the first and largest, but is also considered the most secure blockchain in the world due to its strong decentralization. The performance is no less impressive:
At the end of 2019, CNN named Bitcoin by far the best investment class of the past decade, with the price of a Bitcoin increasing 200,000 times during this time alone!
The Bitcoin price results exclusively from supply and demand, whereby Bitcoin, unlike our common paper money systems, is inflation-proof: The supply is limited to 21 million Bitcoins, which are expected to be produced by 2140 and demand is steadily increasing.
Against this background, short-term forecasts of between 90,000 and 500,000 USD per Bitcoin are increasing, and in the longer term, rates in the multi-digit million range are even spoken of.
On the whole, the Bitcoin price has only known one direction so far: up. In the past, however, this path was peppered with strong price fluctuations, which makes investing directly in Bitcoin, despite the overall more than positive price development, a big risk for many investors.
Wouldn't it therefore make sense, instead of speculating on the unpredictable, short-term price movements, to simply produce bitcoins yourself and to build up a large number of bitcoins in the medium to long term?
smart IT supports people in benefiting from the development of the Bitcoin as easily, conveniently and lucratively as possible without having to expose themselves to the risk of strong price fluctuations. For this reason, we have developed a unique strategy that optimally combines immediately available bitcoins, bitcoin mining and cost-average effects. As an IT service provider, we support our customers with the necessary know-how and the corresponding hardware, so that everyone can participate in this unique opportunity without exception, without having to deal with the technology and the market themselves.
Produce your own digital gold now:
You can find an overview of all current figures, data and facts under this link:You can find the current
As always, you will receive more detailed information live in our smart IT webinar. Access every Tuesday and Thursday from 6:55 p.m. via the following link:Click here for the next
Part 3 of the big year in review series from December 25, 2019Continue reading
Part 2 of the big year in review series from December 18, 2019Continue reading
You can find more exciting articles in our archive.TO THE ARCHIVE
Cryptocurrencies are digital media of exchange based on the principles of cryptography. Cryptocurrencies can have a wide variety of application areas depending on their type and concept. The first publicly traded crypto money of this kind is Bitcoin, which has been traded since 2009, which is a distributed, decentralized and secure digital payment system that also functions completely independently of banks and governments. Since then, numerous other cryptocurrencies have been implemented. In addition to the model of Bitcoin, over 5,000 other crypto currencies are now in use.
Bitcoin mining is a process in which computing power is made available for transaction processing, security and synchronization of all users in the network, thus ensuring the smooth functioning of the blockchain. Mining is a kind of decentralized Bitcoin data center with participants from all over the world. The reward for the provided cooperation and computing power is in the form of the bitcoins that are created in the system every day and the transaction fees that accumulate in the network. Since bitcoins are paid out or "mined" in this process, it is called "mining", analogous to gold mining.
Around the clock, transactions take place around the world that involve paying with Bitcoins. All of these activities must be processed, recorded and managed so that they are hack-proof and tamper-proof as well as stored in a traceable manner. This works in such a way that all transactions within the network within a certain period (approx. Every 10 minutes) are summarized in a list. This list is called a block. The function of Bitcoin Mining is the confirmation and virtual booking of all processes within a block. A confirmed block is transferred to a virtual “ledger”, the so-called blockchain. In order to ensure the security of this main source, the transfer to the blockchain only takes place after the block has been encrypted in the form of a hash, i.e. H. a string of letters and numbers. Anyone who takes part in this process, makes computing power available and thus ensures the smooth functioning of the Bitcoin network, is remunerated in the form of Bitcoins, as in the section WHAT DOES BITCOIN MINING MEAN? described.
Every computer in the Bitcoin network has a certain computing power, which is measured in hashes per second. This performance is necessary because Bitcoin miners have to perform highly complex mathematical arithmetic operations in order to increase the security of the Bitcoin network. The hash rate indicates the speed at which a computer processes such an operation in the Bitcoin code. E.g. a hash rate of 10 TH / s that ten trillion calculations per second can be performed.
A crypto wallet can be compared to a real wallet. You buy one or more wallets to store your money in. If you want to spend money, for example when buying a product, take the money from your wallet and pass it on. This is also the basic principle of the crypto wallet. Bitcoin is a digital currency and so there is no physical object that represents the value “real” as there is with bank notes. Therefore a “digital” wallet is used. These wallets are available in a wide variety of forms online, on smartphones, computers or as hardware wallets (comparable to a USB stick).
The mined Bitcoins are credited to your smart IT account every day.
Mining and the first distribution of your mined Bitcoins start 29 days after your deposit has been received into the smart IT account.
Depending on the customer's desired computing power, smart IT orders the appropriate devices from the manufacturer. It takes an average of 29 days for these to be delivered and properly connected.
You acquire real computing power, which smart IT makes available to the Bitcoin blockchain. After 20 years, smart IT has the right to cancel for the first time. Maintenance, repairs and the replacement of devices are entirely at the expense of smart IT.
In addition, you immediately receive (upon receipt of payment) a 20% instant hosting bonus in Bitcoins, which is booked directly into your account. These bitcoins are freely available to you at any time.
Also included is a 6% hosting bonus, which is paid out in Bitcoin on a daily basis for the first 365 days and also starts immediately after receipt of the money.
We currently accept SEPA transfers to our account at the Landesbank Baden-Württemberg.
Yes, smart IT currently only mines bitcoins.
In our online shop, you can order as many packages as you like and combine them as you like at any time.
Of course, you will receive an invoice by email immediately after ordering. After payment, it is also available for download as a PDF in your account at any time.
Basically, after a holding period of at least one year, Bitcoins can be sold tax-free.
Yes. There are many exchange platforms worldwide, so-called exchanges. There you can e.g. change in euros or in many other crypto currencies.
The results are credited directly to Bitcoin daily.
SMART IT GLOBAL LIMITED
31/F, Chinachem Century Tower
178 Gloucester Road