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February 18, 2026
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Understanding Blockchain: The Public Ledger Behind Bitcoin Transactions The Creation and Launch of Bitcoin: 2008-2009 Overview Global Bitcoin Legality: A Varied Regulatory Landscape How Bitcoin Mining Validates Transactions and Secures Network Can Bitcoin Be Hacked? Exploring Network vs. User Risks

Bitcoin For Beginners – Learn How To Mine Bitcoin ! – Part 1

Bitcoin for beginners - learn how to mine bitcoin! - part 1

Bitcoin For Beginners – Learn How To Mine Bitcoin ! – Part 1

Bitcoin for beginners - learn how to mine bitcoin! - part 1What is bitcoin? and How do you mine it? Well, this video will go over bitcoin mining and show you how to set up bitcoin Mining Software on your computer. bitcoin is a digital currency, which is supported by a P2P network of computers across the internet that act as servers to process the financial transactions of this currency. Some believe bitcoin is a Scam, or Ponzi scheme, but once one understands the concept of bitcoin, it is clear that it is not. While the uses for bitcoin are virtually infinite (paying for goods, services, or money laundering, gambling and drug smuggling) it’s structure remains concrete and open source. However, the VALUE of each bitcoin is disputable. In theory, bitcoin becomes harder and harder to mine, which means it takes more and more energy (electricity for your computer/”mining rig” to run) to process bitcoin and solve “Blocks” of data. Therefore, the price of bitcoin may be related to the price of energy and the cost of maintaining this network. While it is easy to assert that there will be additional computers added to the network daily, which would ease the work load on the initial nodes, one can only speculate that the price of bitcoin MUST increase over time. Especially when power costs in the foreseeable future will be rising.
Currently, only 21,000,000 Bitcoins can be created, but that I guarantee will rise, as many are hoarding the coins and there just simply wont be enough to go around and not enough work, or transaction data, for the increasing number of miners out there.
Specialized computers and “Mining Rigs” are becoming available from companies such as Butterfly Labs and others, which harness ASIC technology. ASIC means application-specific integrated circuit- so these devices are engineered to mine bitcoin and only mine bitcoin. This creates an extremely powerful, and efficient machine, over 100x times more efficient than current setups. These machines are said to be able to mine bitcoin up to 50 GH/s (if that means anything to you, but it’s A LOT) extremely efficiently! More efficient than any desktop computer rig. None of these super computer miners have been shipped/received and it is still extremely uncertain whether these companies are scamming people or not. (I wouldn’t PRE-order a $3,000 machine promising me all the money in the world, but many are)
SO – If these machines come to market, they will truly dominate all others and render most other PC’s/Rigs worthless. Anyways, enjoy the video!

LEARN MORE AND JOIN THE CONVERSATION ON SOCIAL MEDIA!
bitcoin For Beginners Facebook Page
https://www.facebook.com/pages/bitcoin-For-Beginners/1413871525522163?ref=hl

bitcoin For Beginners Twitter

___________________________________________

bitcoin Wallet: http://bitcoin.org/en/choose-your-wallet
GUI Miner: https://bitcointalk.org/?topic=3878.0

bitcoin Calculator: https://bitclockers.com/calc

Monitor How Many Watts Your Computer Uses:http://www.newegg.com/Product/Product.aspx?Item=N82E16882715001

MH/s Hardware Comparison: https://en.bitcoin.it/wiki/Comparison_of_mining_pools

bitcoin For Beginners – Part 2: http://www.youtube.com/watch?v=ZEV3QFj19u8
bitcoin For Beginners – Part 3: http://www.youtube.com/watch?v=pvrVtCOGTWY

Thank you!

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Russia to Issue First State-Backed Cryptocurrency ‘CryptoRuble’

Russia has announced plans to launch a nationalized cryptocurrency called CryptoRuble, citing competitive advantage by being the first of its kind in Europe, and as state-controlled digital money in the light of an increasingly digital economy.

Russia has announced, via communications Minister Nikolay Nikiforov, that the country will begin experimenting with a nationalized cryptocurrency. Exact facts are scarce, and most of the information comes directly from quotes from Nikiforov, although it is believed that once the CryptoRuble is introduced, all other cryptocurrency mining for coins such as bitcoin will be banned. That Russia is taking these steps indicate a pressing need for governments to somehow financially oversea and realize returns from the digital economy.

After a recent closed-door meeting, Nikiforov stated:

I am so confident to declare that we will run CryptoRuble just for one simple reason: if we don’t, our neighbors in the Eurasian Economic Community will do it in a couple of months.

A Taxable Currency

The Russian government has made it clear that if a CryptoRuble owner cannot account for where they got it, they will be subject to a 13% tax. The online economy has made it difficult and a concern for governments to collect taxes on an increasing digital sales industry.

“When buying and selling a CryptoRuble, the rate will be 13 percent from the earned difference. If the owner cannot explain the reason for the appearance of his CryptoRubles, when converting them into Russian rubles, the tax for him will be 13 percent of the total,” Nikiforov said.

Online Reception

Online reception to the news has been mixed, with some claiming that it is simply “digital fiat” as opposed to a true cryptocurrency. Others see it as a shrewd move, capitalizing on what could become a trend for the rest of Europe.

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Reddit user JeremyBF commented:

Wow, is there a legit source for this? I expect all governments to eventually do this, but this fast, awesome. This is actually great for bitcoin. Let the governments educate the people on the advantages of cryptocurrencies, the learning curve into bitcoin is then nearly complete!

The Russian move seems as much a response to engaging with the digital economy as it does to countering any competitive threat bitcoin might pose.

In the words of Nikiforov:

This mustn’t be a private currency, but the one, which is issued by the state, controlled by the state and enable to provide circulation of digital money in light of the digital economy.

Could a nationalized, centralized, government-controlled cryptocurrency work? Let us know what you think in the comments below.

Images Courtesy of Pexels, Wikimedia Commons

The post Russia to Issue First State-Backed Cryptocurrency ‘CryptoRuble’ appeared first on Bitcoinist.com.

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