Hey there!
I'm LePotato. I've been BTC as a currency for selling things for a few months and have come across a few things on different forums that I didn't really understand, so I made this post in the slight hope someone kind enough will help me. I'm not really looking to build anything soon, but I just want to get to grips with the terminology.
My First question is: What's a block? What does it do/what is it used for?
I'm guessing that's something that you mine? I really don't know.
My Second question is: What's a hashrate? (E.g kH/s or whatever) Is there a certain hashrate to btc ratio?
I've seen hashrates on cloud mining websites and don't understand what they are.
My Final question is: Are cloud mining websites worth it? Can you earn much from them? Are there any vouched for/trusted cloud mining sites?
I really wanna invest a small amount ($20 max) into something to keep it ticking by and hopefully get a bit of profit by the end of it.
Thanks in advance!
~LePotato