Unless you are living in a totally different world, which is not the case because you are reading this now, you have most certainly come across Bitcoins and people mining and getting paid in bitcoins. Well if you have never done any cryptocurrency before, you must be confused exactly how one gets paid in bitcoins and how the mining process comes about. This article seeks to clarify some of the most misconstrued theories around bitcoin mining and explains exactly how Sii Global Cryptocurrency mining pays you in Bitcoin.
What is Sii Global? Well, this is a Mexico based company whose main business revolves around cryptocurrency mining. Due to the complexity of cryptocurrency, Sii Global has put in place what is now referred to as the Sii Global Compensation plan, which ensures you are compensated on time. You have probably only heard of Bitcoin which is the most popular of these cryptos, but there are many different forms as well which might be less popular among miners, including dogecoin, litecoin, peercoin, manecoin, worldcoin, etc.
They are all known as altcoins, and the price of each of these digital coins is determined by the supply and demand of each of these cryptocurrencies in the market. How cryptocurrency comes into being is both fascinating and confusing at the same time, so you might want to pay close attention when you are looking into cryptocurrency mining. There are many different computers throughout the world which store ledgers related to these currencies. Hence that is where you get to mine from.
It is up to you as a miner, or a group of miners therefore, to run mathematical analysis that sifts through algorithms to come up with special series of data related to specific mines, known as blocks. Upon matching the series of data to their corresponding cryptographic algorithm, you will have a final block which is what you get paid for in the long run. When the demand will be high, and the supply will be limited say because the algorithms continue getting complex, it means the number of bitcoins will go down.
In other words, scarcity means matching the series becomes a daunting and complex task; hence cryptocurrency algorithms are not created as they should. That settled, anyone can participate in cryptocurrency mining and get paid in bitcoins owing to the fact that Bitcoins founder made this mining tool an open source.
Even so, the computers where these algorithms are stored need to be up 24/7/365 owing to the complexity of the cryptographic algorithms. As such, having Sii Global in the picture means the coins are not duplicated to ensure the systems are not hacked, which they do by having systems in place to keep track of all ledgers and entries of all transactions.