bitcoin cloud mining – Bitcoints

keywords

Published on July 21st, 2015 | by bitcoin

0

bitcoin cloud mining

Information about bitcoin cloud mining

Bitcoin

Bitcoin is a payment system invented by Satoshi Nakamoto, who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without needing an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain. The ledger uses its own unit of account, also called bitcoin. The system works without a central repository or single administrator, which has led the US Treasury to categorize it as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value.
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. This activity is called mining and the miners are rewarded with transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for different currencies, products, and services. Users can send and receive bitcoins for an optional transaction fee.
Bitcoin as a form of payment for products and services has grown, and merchants have an incentive to accept it because fees are lower than the 2–3% typically imposed by credit card processors. Unlike credit cards, any fees are paid by the purchaser, not the vendor. The European Banking Authority and other sources have warned that bitcoin users are not protected by refund rights or chargebacks. Despite a big increase in the number of merchants accepting bitcoin, the cryptocurrency doesn’t have much momentum in retail transactions.
The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and media. Criminal activities are primarily centered around black markets and theft, though officials in countries such as the United States also recognize that bitcoin can provide legitimate financial services.

Cloud

In meteorology, a cloud is a visible mass of liquid droplets or frozen crystals made of water or various chemicals suspended in the atmosphere above the surface of a planetary body. These suspended particles are also known as aerosols and are studied in the cloud physics branch of meteorology.
Terrestrial cloud formation is the result of air in any of the lower three principal layers of Earth’s atmosphere (collectively known as the homosphere) becoming saturated due to either or both of two processes: cooling of the air, and adding water vapor. With sufficient saturation in the troposphere, precipitation will fall to the surface; an exception is virga, which evaporates before reaching the surface. Clouds that form at very high altitudes in the stratosphere and mesosphere do not contain sufficient moisture to generate any outfall of droplets or crystals.
Clouds in the troposphere, the atmospheric layer closest to Earth’s surface, have Latin names due to the universal adaptation of Luke Howard’s nomenclature. It was introduced in December 1802 and became the basis of a modern international system that classifies these tropospheric aerosols into several physical forms, then cross-classifies them as low, middle and high-étage according to cloud-base altitude range above Earth’s surface. Clouds with significant vertical extent occupying more than one étage are often considered a distinct group or sub-group.
One physical form shows free-convective upward growth into low or vertical cumuliform heaps. Other more layered types appear as non-convective stratiform sheets, and as limited-convective stratocumuliform rolls or ripples. Both these layered forms have low, middle, and high-étage variants with the latter two identified respectively by the prefixes alto- and cirro-. Thin cirriform wisps are found only at high altitudes of the troposphere. In the case of clouds with vertical extent, prefixes are used whenever necessary to express variations or complexities in their physical structures. These include cumulo- for complex highly convective cumulonimbiform storm clouds, and nimbo- for thick stratiform layers with sufficient vertical depth to produce moderate to heavy precipitation.

This process of cross-classification produces ten basic genus-types or genera, most of which can be divided into subtypes consisting of species that are often subdivided into varieties where applicable. Synoptic surface weather observations use code numbers to record and report any type of tropospheric cloud visible at scheduled observation times based on its height and physical appearance.
Clouds that form above the troposphere have common names for their main types, but are sub-classified alpha-numerically rather than with the elaborate system of Latin names given to cloud types in the troposphere. Clouds have been observed on other planets and moons within the Solar System, but, due to their different temperature characteristics, they are often composed of other substances such as methane, ammonia, and sulfuric acid as well as water.

Mining

Mining is the extraction of valuable minerals or other geological materials from the earth from an orebody, lode, vein, seam, or reef, which forms the mineralized package of economic interest to the miner.
Ores recovered by mining include metals, coal, oil shale, gemstones, limestone, dimension stone, rock salt, potash, gravel, and clay. Mining is required to obtain any material that cannot be grown through agricultural processes, or created artificially in a laboratory or factory. Mining in a wider sense includes extraction of any non-renewable resource such as petroleum, natural gas, or even water.
Mining of stones and metal has been done since pre-historic times. Modern mining processes involve prospecting for ore bodies, analysis of the profit potential of a proposed mine, extraction of the desired materials, and final reclamation of the land after the mine is closed.
The nature of mining processes creates a potential negative impact on the environment both during the mining operations and for years after the mine is closed. This impact has led most of the world’s nations to adopt regulations designed to moderate the negative effects of mining operations. Safety has long been a concern as well, and modern practices have improved safety in mines significantly.

Tags: , ,



Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top ↑