Post
Topic
Board Beginners & Help
Re: I'm new to BTC - Help me!
by
keyscore44
on 19/05/2016, 13:26:03 UTC
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

Your all questions are about cloud mining.. In this days cloud mining is very risky. I can vouch only for one cloud mining - it is HashNest.com
but as i said stay away from cloud mining at least to the moment when you will know about Bitcoin enough to take that decision without help of others.

In other words - read, learn and don't listen anyone. With time you will understand.. Wink