Here are some common questions about Blockchain Freedom.
What is the Blockchain?
Officially, “A digital ledger in which transactions made in cryptocurrency are recorded chronologically and publicly.”
Unofficially, think about any type of transaction or information that we care about the accuracy of and want to share with someone else. College transcripts, medical records, public elections, etc.
What does a Cryptocurrency Exchange do?
A cryptocurrency exchange is just like any other money exchange, think about your last visit to an airport. They will let you buy a particular currency you want with a different type of currency you already have, and of course, charge a fee for handling the transaction.
What's the difference between a digital crypto-wallet and a physical crypto-wallet?
Since cryptocurrency is digital and public, the term wallet is slightly misleading. Your wallet is much more like the key to a safety deposit box. You have access to everything in your deposit box any time you want it, but the contents aren’t on your person. That being said, you still want to protect your key and that is what the wallet allows you to do. Also, a “physical” key is very misleading. They are essentially thumb drives with security measures built in. They allow you to physically walk around with your digital content without your computer.
What's the difference between GPU and ASIC mining?
ASIC is an acronym for Application-Specific Integrated Circuit. The name says it all. ASICs are specifically made to handle specific types of encryption, and consiquently they do that specific type of math very very(Italic) fast. By contrast, you can mine everytype of encryption on a GPU but most would not be fast enough to be profitable. There are also specific encryption types that are designed to only be mined on GPUs in an effort to even the playing field in the mining world.
Why would I want to build my own mine?
In a word, diversity. Have your own mine means having the control of how many machines you run, how many currencies you mine and how often you switch between them based on your preference.
Why was Blockchain Freedom started?
We started Block Chain Freedom to give every person an opportunity to experience “owning work”. The ability to own a machine that does work, without your input, time, or sweat, is unheard of without a significant amount of capital. We believe that blockchain technology is the opportunity for everyone to experience abundance.
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