Bitminter is a bitcoin mining pool that aims to make it easy for anyone to make bitcoins. We create new bitcoins and help process transactions. If you take part in this work then you will get your share of the coins we create and fees we get for processing transactions. Bitminter is one of the old pools from 2011, and many of our users from the early days are still with us. Keep reading and find out how you too can join us.
Making bitcoins with a normal computer is too slow and also not profitable due to electricity costs. Bitcoin ASIC devices is efficient hardware for making bitcoins. Check out Spondoolies and their machines. The Bitcoin wiki has a comparison of ASIC hardware.
Bitminter client:
Hit the start button to start Bitminter client. You get bitcoins for the work it does. Works on Windows, Linux and Mac. Requires updated Java.
Other clients: bfgminer, cgminer, etc. Connect to the pool at stratum+tcp://mint.bitminter.com:3333. As user name put your Bitminter user name, an underscore, then a worker name, e.g. DrHaribo_asic3. In case you have firewall issues, port 443 and 5050 (Stratum) are also available. There is no password check, any password is accepted.
Your work is recorded in shifts. When we create a new block you get a share of the income proportional to how much of the work in the last 10 completed shifts is yours. This reward system is known as PPLNS with shifts. There is a 1% fee on mining income. Additional donations are optional but will unlock various perks.
Not only new coins are paid out but also income from transaction fees. To increase income further we also generate namecoins, which take no extra effort. You can read more about namecoins at namecoin.info.
Bitcoin is a digital currency. You can use bitcoins to pay for goods and services and there are exchanges where you can buy and sell bitcoins. There is no central bank and anyone can make new coins. Coins are created at a controlled rate and there will never be more than 21 million coins. Watch this video for an introduction:
You can pay for goods and services with bitcoins. Some popular websites that accept bitcoins are Wordpress, Reddit and Mega. BTC Trinkets has nice Bitcoin-related items. For more you can buy with your bitcoins, see the list of merchants at the Bitcoin Wiki.
You can buy and sell bitcoins for US Dollars, Euros, and other currencies at exchanges. Some popular exchanges are Camp BX, Cryptsy, itBit, Bitcurex. The Bitcoin wiki has a list of exchanges where you can buy and sell bitcoins.
