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. If you are like many people, you are probably wondering what this mining is all about and how exactly you will get paid. Well read on to find out how cryptocurrency mining takes place and how Sii Global as a company ensures you get paid in bitcoins.
What is Sii Global? Well, this is a Mexico based company whose main business revolves around cryptocurrency mining. Basically, Sii Global is companies tasked with ensuring miners are paid on time through the transparent Sii Global Compensation plan they have put in place. 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. Let us now tackle the nature of how these coins came into being, a process that is both fascinating and complicated, hence the reason to understand if you intend to venture into the bitcoin mining industry. The process of mining of online currencies happens on ledgers that are found on different computers around the world.
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. Companies like Sii global exist to work with miners to provide the hardware and software necessary for transactions to take place without duplication, hacking or compromising on the security of bitcoins.