November 16, 2025, 10:25:29 PM

Author Topic: Newbie  (Read 2819 times)

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Offline godslove0

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Newbie
« on: June 14, 2013, 01:42:58 PM »
hello i'm a newbie here i know nothing about bitcoin or goldcoin
my friend just introduce me to goldcoin so please a Little help here

Offline akumaburn

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Re: Newbie
« Reply #1 on: June 14, 2013, 01:54:27 PM »
Hi,

Both BitCoin and GoldCoin are crypto-currencies(virtual currency).


The currency is generated using an encryption algorithm in order to facilitate a trade off between computation time and value. In other words the more work your computer does the more likely it is to find(mine) a BitCoin or GoldCoin.

BitCoin uses SHA256(http://en.wikipedia.org/wiki/Sha256)
GoldCoin uses SCRYPT(http://en.wikipedia.org/wiki/Scrypt)

You can read about it more on here https://www.weusecoins.com/en/

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GLD:
DztaVPtUd2M5TwfifBUaq5bLrAscYeMbyd