Bitcoin, Ethereum or Zcash are not used by criminals and cannot be mined with smarpthone
No, neither Bitcoin and Altcoin, such as Ethereum and Zcash are used by criminals and tax evaders, nor can Bitcoin or other cryptocurrencies be mined with the smartphone, they are false myths created by people who do not know the truth and here we dismantle them.
Cryptocurrencies are a very unexplored terrain for the general public and it is beginning to become known to the general public and all kinds of 'experts' emerge who begin to say things without rhyme or reason. There are false myths, incorrect statements and guidelines for mining, which have nothing to do with reality. The problem is that cryptocurrencies are a complex field, where you have to have a very broad knowledge base and where you have to learn many concepts, something like the beginnings of the internet. Bitcoin, as well as Altcoins such as Ethereum, Zcash, Monero, Dash or any other, have positive things and others not so good.
Well, the first thing we should know is that Bitcoin, as well as other Altcoins that we have discussed, are decentralized virtual currencies, which do not have any bank behind them and can be exchanged between users, speculate with them or buy goods and services. Amazon, Apple, Starbucks or Tesla allows you to buy with Bitcoin and some Altcoins, there are coffee shops that only accept payment in cryptocurrencies from a virtual wallet on our smartphone and traditional banking is interested in these cryptocurrencies as well as to operate in banking, including the The SEC is analyzing allowing the use of Bitcoin and Ethereum, as currencies to operate within the New York Stock Exchange.
Just yesterday in La Sexta Noche you could see politicians comment that Bitcoin is a currency created by and for traffickers, criminals and people who are dedicated to hacking. The expression of a PP politician was verbatim: 'come on, all those who mine are traffickers or fraudsters, they should be thrown in jail'. We clearly see the ignorance of this politician, who did not prepare the subject a little before attending the program. If this were the case, the SEC of the United States would not consider allowing the regularization of this currency and the European Commission would not discuss Cryptocurrencies and Blockchain, but it is already known that Spain, we will arrive soon.
That is a fairly widespread myth, that Bitcoin and cryptocurrencies are used by criminals, which is a half-truth. Like any capital, it can be used by criminals, you only need to see the politicians who have stolen Euros and sent it to tax havens or the traffickers from all over the world, who use the dollars. Bitcoin can be used to launder money, but also for other things, such as buying goods and services. Currently China is where all the Bitcoin mining farms are, which go to the United States directly, because it is where there are more cryptocurrency investors. Europe pulls more for the mining of Ethereum and Zcash, which has a much lower difficulty compared to Bitcoin and can be mined with gamer graphics cards.
A problem of concepts is that of mining. For Bitcoin, special mining rules are required, the AMD or NVIDIA graphics cards that we can find in the market are not worth it, with that we will not get a Bitcoin in life and we would only lose money. Ethereum and Zcash allow mining with graphs and yes, a good return is achieved, paying for the equipment in about four months, counting the electricity consumption and then everything is pure profitability. These concepts tend to be confused because people are unaware that there are other cryptocurrencies, beyond Bitcoin and many people, directly, do not have the basic concepts to understand and talk about cryptocurrencies, a sector where there are many terms to know and that is complex to understand.
A few days ago, while browsing I came across something disturbing, a page where they explained this to you about Bitcoin. The problem of users who do not have knowledge and start to touch these issues, are errors of concept everywhere, errors when explaining or getting involved and thinking that they are all the same. In that entry I read that Bitcoin could be mined with graphics cards, something that is completely false and that we have already commented in other entries, since we have been working in the field of cryptocurrencies for some time and we try to inform you, to avoid confusion and misinterpretations.
The entry was based on mining Bitcoin with a smartphone. Let's make it clear: IT IS IMPOSSIBLE TO MINING WITH THE SMARTPHONE. Do not do it, no case, it is crazy and absurd, you will charge your mobile in a week, guaranteed. Currently there is no physical way to mine Bitcoin, Ethereum, Zcash, Monero or any other with a smartphone, it is completely stupid. If you can not with a desktop computer, even less with a smartphone. Only on the smartphone can we have a wallet where we can have cryptocurrencies and pay with it or we can also do trades, to earn money, although that is another matter.
We want to make it clear that it is important to go to specialized websites and that they know what they are talking about, like us, since among the ranks of Hardwaresfera we have Assaulter, an expert in mining, who has a machine at home for mining Zcash and that collaborates in the development of machines for mining Ethereum and Zcash (soon we will tell you more about it, because great things in this field are going to happen). We have been in this field for a long time, analyzing it (as you can see in the posts we write), and reporting how to operate, important news and market fluctuations. If you want to mine without spending money, there is an option, such as EOBOT and so that you can enter this world, we brought you a complete guide on how to start:
