Bitcoin, what is mining?

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In traditional fiat money systems, governments simply print more money when they need to. But in bitcoin, money isn’t printed at all – it is discovered. Computers around the world ‘mine’ for coins by competing with each other.
How does mining take place?

People are sending bitcoins to each other over the bitcoin network all the time, but unless someone keeps a record of all these transactions, no-one would be able to keep track of who had paid what. The bitcoin network deals with this by collecting all of the transactions made during a set period into a list, called a block. It’s the miners’ job to confirm those transactions, and write them into a general ledger.

This general ledger is a long list of blocks, known as the ‘blockchain’. It can be used to explore any transaction made between any bitcoin addresses, at any point on the network. Whenever a new block of transactions is created, it is added to the blockchain, creating an increasingly lengthy list of all the transactions that ever took place on the bitcoin network. A constantly updated copy of the block is given to everyone who participates, so that they know what is going on.

But a general ledger has to be trusted, and all of this is held digitally. How can we be sure that the blockchain stays intact, and is never tampered with? This is where the miners come in.

When a block of transactions is created, miners put it through a process. They take the information in the block, and apply a mathematical formula to it, turning it into something else. That something else is a far shorter, seemingly random sequence of letters and numbers known as a hash. This hash is stored along with the block, at the end of the blockchain at that point in time.

Hashes have some interesting properties, It’s easy to produce a hash from a collection of data like a bitcoin block, but it’s practically impossible to work out what the data was just by looking at the hash. And while it is very easy to produce a hash from a large amount of data, each hash is unique. If you change just one character in a bitcoin block, its hash will change completely.

Miners don’t just use the transactions in a block to generate a hash. Some other pieces of data are used too. One of these pieces of data is the hash of the last block stored in the blockchain.

Because each block’s hash is produced using the hash of the block before it, it becomes a digital version of a wax seal. It confirms that this block – and every block after it – is legitimate, because if you tampered with it, everyone would know.

If you tried to fake a transaction by changing a block that had already been stored in the blockchain, that block’s hash would change. If someone checked the block’s authenticity by running the hashing function on it, they’d find that the hash was different from the one already stored along with that block in the blockchain. The block would be instantly spotted as a fake.

Because each block’s hash is used to help produce the hash of the next block in the chain, tampering with a block would also make the subsequent block’s hash wrong too. That would continue all the way down the chain, throwing everything out of whack.
Competing for coins

Butterfly Labs Bitforce mining rigSo, that’s how miners ‘seal off’ a block. They all compete with each other to do this, using software written specifically to mine blocks. Every time someone successfully creates a hash, they get a reward of 25 bitcoins, the blockchain is updated, and everyone on the network hears about it. That’s the incentive to keep mining, and keep the transactions working.

The problem is that it’s very easy to produce a hash from a collection of data. Computers are really good at this. The bitcoin network has to make it more difficult, otherwise everyone would be hashing hundreds of transaction blocks each second, and all of the bitcoins would be mined in minutes. The bitcoin protocol deliberately makes it more difficult, by introducing something called ‘proof of work’.

The bitcoin protocol won’t just accept any old hash. It demands that a block’s hash has to look a certain way; it must have a certain number of zeroes at the start. There’s no way of telling what a hash is going to look like before you produce it, and as soon as you include a new piece of data in the mix, the hash will be totally different.

Miners aren’t supposed to meddle with the transaction data in a block, but they must change the data they’re using to create a different hash. They do this using another, random piece of data called a ‘nonce’. This is used with the transaction data to create a hash. If the hash doesn’t fit the required format, the nonce is changed, and the whole thing is hashed again. It can take many attempts to find a nonce that works, and all the miners in the network are trying to do it at the same time. That’s how miners earn their bitcoins.

8 Best Practices from Google Adsense Team to keep your adsense account active

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Google Adsense has been a money spinner for a majority of blogs and websites since its launch in 2004. Technology bloggers and bloggers with niche websites have made a killing with Adsense. The Google Adsense team posted a mini guide on the best practices to keep your Adsense account active and compliant.

8 Best Practices to keep your Google Adsense account active:

1) Do not click on your own ads:
– This is a no brainer, if you keep clicking on your own ads you run the risk of getting your account deactivated by the Google team. If you’re interested in an ad or looking for its URL use the Google Publishing tool. Google algorithms are very advanced to check clicks by you on your own ads.

2) Think like a user:
– Google preaches webmasters to think like users while designing websites ie. write content for the user, design websites for the user. It’s all about giving the user super web experience. The best of sites that make money with Adsense are built for users.

3) Keep it family friendly and legal:
– The best of sites that make money with Adsense are legal and family friendly. So keep your sites friendly and legal.

4) Maximize content, not ads per page:
– Websites are about creating content and communities, ads should be minimum on the page and not obstruct the pages on the website or shown via black hat techniques.

5) Avoid deceptive layouts:
– Website layouts that are deceptive and create to increase user clicks can be risky and may get your adsense account banned by Google. Create clean website with superior navigation and easy to access pages.

6) Create unique content:
– Content is king, spend time to create compelling content that appeals to users. Copy cat content gets less visibility and does not good to make money online.

7) Track your Traffic:
– Analysis of your traffic and user behavior on your site is important, it gives you a direction about what is working on your site. Keep a check on where your traffic originates from, link and traffic from spammy sites can harm your websites authority with Google.

8) Follow the code of implementation guide:
– When is doubt always follow the code of implementation guide, Google has published this guide for assistance to webmasters and to ensure that website are compliant.

Has Okik Closed it’s Doors???

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We have been members of this site since 2014, previously it was paying every time, then over the last 3 months or so it stopped or was stopped from taking/sending payments from Paypal, the idea then was that you had to deposit $20 to receive $40 via Payza, Bitcoin, okpay etc..
Since then payments have been delayed and then deposited back into your balance, in the last couple of days we were told Paypal was back for depositing only for a few hours a day, sounding a bit fishy to you? Hmmmm we smell it too, today all payments were rejected then the site went into maintenance, now we have the strange message above, we have invested about $150 in this site, we probably have to chalk this one up as a failure cause this site is a gonna in our books.. R.I.P. Okik.me & our $ as well..

As an update the sister site of Okik, https://ptc1.net/ is still live and kicking, please excuse our cynical minds but we hope that PTC1 members are not getting fleeced this very moment being unaware of the collapse of Okik.me???
We hope this is just a massive missunderstanding and all will be back to normal but…

okik

How to Reset WordPress Admin Password on Localhost

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Why Password Reset Doesn’t Work on Localhost?

The term localhost is used to describe a local server that is not available to the general public. For example: your personal computer.

Many WordPress users install WordPress on localhost (in their computer) to test changes, design websites, try out new plugins, and even learn WordPress.

Now here is the problem that some beginners may come across.

If you forget your WordPress admin password while working on localhost, then you will be NOT be able to reset it using the normal password reset option in WordPress.

The password reset option emails you a link to reset your WordPress password. In order to send emails, your server needs to enable the mail function.

This function is turned off by default on local servers which means WordPress will not be able to send the password reset email.

But don’t worry, there’s a way to reset your WordPress password on localhost.

We will be using phpMyAdmin to reset password on localhost. Simply visit phpMyAdmin control panel by typing this URL in your browser’s address bar:

http://localhost/phpmyadmin/

You will be asked to provide your MySQL username and password. Typically, the username is root with no password.

Once you are logged in, you need to select your WordPress database.

Once you select your database, you will see a list of tables in your WordPress database. Go ahead and click on the browse link next to WordPress users table.

You will now see the list of entries in your users table. The number of rows depend on how many users are registered on your WordPress site.

Next, you need to click on the Edit link next to the username of the admin user.

This will open up a form where you can edit the information stored in WordPress database for that user.

Scroll down to user_pass field and type a new password in the ‘value’ column. After that you need to select MD5 in the ‘function’ column.

Don’t forget to click on the Go button at the bottom to save your changes.

That’s all, you can now login to your WordPress site on localhost using the new password.

First Look: HTC Bolt

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It’s been a bit over a month since we first heard rumors about a new HTC device that would be coming to Sprint, dubbed the HTC Bolt. At first we were hoping that this would be the resurrection of the HTC Thunderbolt that we all loved, but it seems that won’t necessarily will be the case. Regardless, we now have “real-world” images of the device after seeing press renders leaked before.

Evan Blass (@evleaks) gave everyone a good look at the device as well as the specs that are expected to accompany the device. It seems that the device will feature an aluminum body with the camera centered on the rear of the device, with the flash nestled just above the antenna lines that HTC loves so much.

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Additionally, the images show us that the right side of the device will hold both the volume rocker and power button, while the left side of the Bolt will include two different trays. Presumably, one of these trays will house the SIM card, with the other housing a microSD card slot, which seems to be making a quiet comeback.

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Moving to the bottom of the device, you’ll find the USB Type-C charging port, bottom firing speakers, and that’s it. That’s right, no 3.5mm headphone jack, so go ahead and throw your arms in the air in disgust as another manufacturer is deciding to forego the beloved port.

As for what is going to be under the hood? The Bolt is expected to feature a 5.5-inch FHD display, 3GB of RAM, 64GB of storage, an 18MP rear-facing camera with an f/2.0 lens and 4K video capabilities. Finally, the Bolt will include a fingerprint sensor on the home button which is nestled between the two captive buttons on the front of the device. As for availability, the Bolt is expected to launch around the world, while maintaining exclusivity through Sprint in the United States.

Even though this won’t be a successor to the HTC Thunderbolt, the Bolt is shaping up to be a huge powerhouse for HTC. We’ll have to wait and see how everything plays out in the coming months, but we’ll be watching this one closely.