CxO Roadmap: Designing a Fintech Strategy Around Your Legacy Core IT Supplier
Business-Plan 3 million
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BTC Digital Mining Business
Plan
BusinessName:BTCDigital Mining
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Name:Garth StevensCEO
ID Number:9002135149083
Contact numbers:+27 73 335 9263
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Table of Contents:
1. Executive Summary Page 4
2. General CompanyDescription Page 5
3. The Opportunity,Industry&Market Page 6
4. Strategy Page 6
5. BusinessModel Page 6
6. Team – Management&Organisation Page 9
7. Operational Plan Page 9
8. Appendix Page 13
5 yearfinancial projections
CV
Business andterminology explanation
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2. Executive Summary
What is Bitcoinand Altcoin?
Bitcoinsor Alternative coins(altcoins)forshortisa revolutionarydigital currencyalsoknownascryptocurrency.Itssol e
purpose wasto give the freedomandcontrol of transactiontoanyone, anywhere inthe worldwithoutthe needfora
middle man(PayPal).Itcan be sentto anyone at anytime withanygivenamount,withthe simple use of abitcoinwallet
and the receiversuniquelygeneratedwalletaddress.Itisthe mostsecure andsafestmeansof sendingandreceiving
money(bitcoin) throughthe meansof online transactionsie (eft).Itisalsoacceptedasa meansof paymentinover
750000 retail storesworldwide andacceptedinover1,500,000 on line retailerstheseinclude butare notlimitedto
(Dell,Amazon,Newegg,Microsoft,Apple andmanymore) itisalsotradedon the local forex exchange andcanbe
convertedfrombitcointoanyform of currency anddepositedstraightintoyourbankaccount.
Where do bitcoinscome from?
We will gomore in-depthaboutthisonthe sectionabout miningwhichinthisinvestmentproposal isourreasonfor
financial success,buthere’saverysimple explanation:Some usersputtheircomputerstoworkverifyingtransactionsin
the peer-to-peernetworkmentionedabove.These usersare rewardedwithnewbitcoinsproportional tothe amountof
computingpower(hashrate persecond) theydonate tothe network.
Whocontrols Bitcoin?
As we mentionedabove,thereisnocentral personorcentral authorityincharge of Bitcoin.Variousprogrammers
donate theirtime developingthe opensource Bitcoinsoftware andcanmake changessubjecttothe approval of lead
developerGavinAndresen.The individual minersthenchoose whethertoinstall the new versionof the software orstick
to the oldone,essentially“voting”withtheirprocessingpower.Itisinthe miners’bestinteresttoonlyacceptchanges
that are goodfor the Bitcoincurrencyinthe longrun.These checksand balancesmake itimpossible foranyone to
manipulate Bitcoin.
What is bitcoinmining?
Miningisthe termusedforrunninga seriesof calculationsonspeciallydesignedpurpose builthardware toverifythe
transactionsthattake place inthe Bitcoinnetwork.The speciallydesignedpurpose builthardware runs100% more
efficientthanstandardcomputersandhave a 78% decrease onpowerconsumptionthananyother productsoutthere.
Abouteverytenminutes,anewblockof transactiondatais createdandthe minerswhocreatedthe blockare awarded
inbitcoins/altcoinsgiventhe amountof hashingpowertheycontributedtosolvingthe algorithm.Thisinturnmeans the
higheryourprocessingcapabilitiesorhashrate the biggerthe rewardforsolvingthe algorithmyoureceive foreach
blockverified.Thisservesthe bitcoinnetworkbothasa systemto verifytransactionsandasa systemforfairly
distributingnew bitcoins.The average userwill take yearstogenerate anyprofitinthe miningof bitcoinbutwiththe
investmentof (3MillionRand) we will holdone of the highestpercentage of hashingpowerroughingaround5500 TH/s
whichequalsto 55,000,000,000,000,000 hash’spersecond,inturn givingusthe sole abilitytomine withstaggering
affectsfromthe outsetresultinginthe followingpredictions.
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R 3,000,000.00 yieldsusthe followingestimated grossprofitminingbitcoin:
CurrentBitcoinvalue R3293.97
Dailyminingincome R12003.99
Weeklyminingincome R84258.82
Monthlyminingincome R365,121.59
Yearlyminingincome R4,381,458.70
These figuresare basedonthe nextdifficultyratingandcurrentdollartorand exchange rate for bitcoin,andwe will be
miningseveral differentcoinsgivingusa0% riskof failure andyieldingusapotential 200% returnafterthe firstyearof
miningproductions.Alsowithasetamountof revenue returningintothe companyeachmonthtoincrease hashing
power/productionrateswith600 more miningunitsbythe endof yearone,we will see asteadilyincreaseof rewardper
algorithmresultinginanendof yeartwo estimatedgrossyearlyprofit of R
3. General CompanyDescription
BTC Digital Miningisa LLC type entity,withsole ownershipfallingtothe founderandcreatorof BTC Digital MiningGarth
StevensCEO.Currently BTCDigital Miningisstill inthe earlystagesof start-upawaitingforthe firstpotential investorto
grant the fundsneededtoprogresstoa well-developedandwell-structuredindustryleadingCryptoCurrencymining
organisation.
The missionof BTC Digital Miningseekingthisinvestmentisforthe miningof bitcoin/altcoinsalsoknownas
CryptoCurrenciesusingspeciallydesignedhardware andsoftware knownasASICsandCGminer.We will be settingupa
Digital miningfarmdatacentre whichwill be the firstof its kindand size inSouthAfricaforthe sole purpose forbeing
rewardedforthe use of ourprocessingpowersforsolvingalgorithmswithinthe cryptocurrencyblockchain.
The amount investedwill be usedinthe procurementof the specializedASICminers fromthe leadingindustry
developers,the needednetworkswitchesforlinkingthe hardware together.All the neededmiscellaneouscomponents
such as the Ethernetcables,PDUsupplyadapters,central control PC,mountingracks,coolingequipment,Optimal
miningfacilityandthe first2years runningcosts(Electricity,Hardware Maintenance,Facilityrental costsetc)
Our goal is to mine several differentcryptocoins whichwill be tradeddailyonthe crypocurrencytodollarexchange for
max profitabilitygivingusa control inthe marketas one of the wealthiestminingfarmsinthe worldandwe will be
increasingourminingproductioneachmonthwithasetamountof revenue beingusedinthe purchasing of more
mininghardware toincrease overall hashing/solvingpowereachmonth.
We will alsobe workingtowardsinvestmentinotherformsof electricity(solarpower,Windturbines) tosave onoverall
runningcostsand increase onoverall profitmarginsandinturndecreasingonour global warmingfootprint.
Creatingnumerousjobopportunitiesforlocals andforeignersaliketohelpcontribute to decreasingunemployment
rates.
Our aimis to getour investor/sonboardandinvestedassoonas possible tostartgeneratingaprofitinmining2 weeks
afterreceivinginitial investment funds.
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4. The Opportunity,Industry & Market
The opportunitypresentedinfrontof youhas come forthdue to the lack of knowledge andrequiredfundinginthe
average humanbeing, tobe able to create a successful large scale miningoperationsandtothe everincreasingdemand
for miners forthe solvingof the transactionstakingplace inthe digital currencynetwork andinthe solvingof the block
chainalgorithmstocreate more bitcoinstofeedthe evergrowingneedin the marketwithover4millionusers
worldwide,75000 retail storesandall majoronline retailersacceptingbitcoin(Dell,Microsoft,Google,Amazon,Ebay,
Apple)etc.
Havingreceivedthe investmentwe willbe tappingintoaniche inthe marketand with the size andscale of ourmining
farm andeverincreasinghardware monthaftermonth we will be controlling ahuge stake inthe markets. Generatinga
substantial amountof bitcoinsonadailybasisto be exchange onthe markets.
5. Strategy
To insure oursuccessin the bitcoinminingindustrywe will be miningnumerousdifferentcryptocoinsgivingusthe best
possible profitona dailybasiswhenwe exchange ourrewardedcoins todollars.We will alsoreinvestasetamountof
revenue backintothe business eachmonthforthe purchasingof more mininghardware thusincreasingouroverall
hashingpowerona monthlybasisincreasingourdailyprofitoutput.
To furthermore increase ournetprofitwe will be investinginotherformsof electricitytobringdownouroverall running
costs andincreasingonour daily,weekly,monthly,andyearly,profitmargins.Iwillalsobe marketingbitcoinformsof
paymenttoall major and minorretail andfoodestablishmentsaroundsouthAfricagivingbitcoinamore controll ing
marketincrease the use of bitcointhusincreasingthe value of bitcoinoverall andgivingusmore blocksandtransactions
to be mined
6. BusinessModel
The main source of our revenue willcome fromthe exchangingof ourbitcoins/altcoinstodollaronthe cryptocoin
exchange markets.Thisisdone withthe aidof a bitcoinwalletwhichisfree toall userstodownload.Whatthiswallet
essentiallymeansisthatitgive youa digital walletthatisstoredonyour pc, laptopor smartphone thatallowsyouto
transferyourcoinsto otherusersas forms of paymentsorto the exchange networktosell orexchange fordollars which
isthentransferredtothe businessaccount.
The major cost inbeingable togenerate the revenue will come inthe formof the initial investmentforthe purchase of
the ASICminersand start-upof the miningoperation.Thiswill insurethe profitabilityof the operationthroughgivingme
the ability toinvestina substantial amountof ASICminersinsuringahuge generationof profitfromthe firstdayof
mining.
The profitability inthe operationcanbe seeninthe diagram below showingyouwhatthe expectedprofitability will be
for the firstyearof miningonan investmentof 3 MillionRand givingussuchsaid netprofit
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mine + hold (final payout) 1028.03 ฿ 316176.17 $
The followingfinancial predictionsforthe firstyearof miningare based onthe average increase of the miningdifficultyaswell asaverage fluctuationsandon
the full initial investmentof 3 MillionRand.
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7. Team – Management& Organisation
Hi,I’m Garth StevensCEOand leaddeveloperandminingspecialistof the above Cryptocoinminingproposal.Ihave
beenminingona small scale forseveral yearsnow,have full expertknowledgeof the digital miningindustry.Fully
trainednetworkpenetrationspecialist,electronicandmechanical engineerplusahighrankedcomputingbackground.
I will be the mainDirectorand Producerbehindthe settingupandrunningof the crypto mine.All maintenance will be
performedandoverseenbyme,Iwill be on site 24/7 to insure we onlymine the mostprofitable cryptocoin24hoursa
day.
I have workedouteverycalculationandsimulationtoinsure thatthisinvestmentisfullproof witha0% riskof failure
and to insure full initial investmentreturnwithinthe first3yearsof production.Creatingthe mostviable investment
opportunityforanyand all interestedinvestors.
8. Operational Plan
ASIC Mining
An application-specificintegratedcircuit,orASIC,isa microchipdesignedandmanufacturedforaveryspecificpurpose.
ASICsdesignedforBitcoinminingwere firstreleasedin2013. For the amountof powertheyconsume,theyare vastly
fasterthan all previoustechnologiesevercreated.Theyare the backbone tobeingasuccessful bitcoin/altcoinminerand
contribute tobillionsof dollarsbeingearnedeachyearminingcryptocurrencies.
The ASIC hardware thatwill be usedisthe mostadvancedand energy efficienthardware availabletoday,withone unit
beingcapable of processing5.5TH/s whichisthe equivalentof figuringout55,000,000,000,000 sumsa second.
The ASICsusedwill be putto workminingthe followingCryptocoinsgivingusamarketedge and insuringavast yet
stable income everyDayWeekMonthandYear. We will spreadoutthe hashingpowerdailyacrossseveral different
coinsdeterminedbythe dayssetvalue of eachcoinagainstthe dollar,insuringwe generatethe mostprofitabilityinthe
leastamountof time offeringthe greatestrewardforourinvestment.
There are hundredsof coinsonthe marketbut we will be focusingonthe followingstipulatedbelow.
Peercoin (PPC) $1,143.68 Daily profit
Bitcoin (BTC) $1,127.39 Daily profit
IllustrationOf ASIC miner
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Takcoin (TAK) $1,101.85 Daily profit
Titcoin (TIT) $988.18 Daily profit
UniversalCurrency (UNIT) $980.32 Daily profit
HAMRadioCoin (HAM) $889.10 Daily profit
Freicoin (FRC) $886.86 Daily profit
Terracoin (TRC) $880.94 Daily profit
Betacoin (BET) $800.94 Daily profit
Mazacoin (MZC) $767.96 Daily profit
The followingprofitmarginsare basedindollarsontoday’scurrentsetvaluesandwiththe investmentof (3Million
Rand) and are the top 10 coinswe will be focusingonandwill be miningaccordingtothe mostprofitable daily
predictions.
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The minerswill be operating andmanagedbyme 24 hoursa day in a purpose sourcedwarehouse inGautengSouth
Africa.The ASICmininghardware will be sourcedfromspecialistcompaniesbasedinchinawithwhichIhave an
upstandingbusiness relationshipwith.The investmentfundwill goforthe purchasingof the followingrequired
componentstoinsure thatthe mine producesthe bestresultsfromthe outset.
ASICminers – 140 units
ASICPSU – 280 units
PDU Bar – 14 units
Central miningcontrol –2 unit
ASICmountingrack – 50 units
Ether cable plusfixings –10 units
Patch panels – 10 units
Temperature control –20 units
EquipmentCosttotal – R 2,355,800.50
Balance of R 644199.50 will be allocatedforthe followingexpenses forthe first12 monthsrunningcosts.
Warehouse rental
Utilities
Electricity
Water
Services
Airconditioning&Hardware cooling
Internetservices
General Maintenance &Upkeep
Salaries
3 permanentstaff
Tempsas needed
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10. Appendix
What is CryptoCurrency?
A digital currencyinwhichencryptiontechniquesare usedtoregulate the generationof unitsof currencyandverifythe
transferof funds,operatingindependentlyof acentral bank.
"DecentralizedCryptoCurrenciessuchasBitcoinnow provide anoutletforpersonal wealththatisbeyondrestrictionand
confiscation"
A cryptocurrency(orcrypto currency) isa mediumof exchange usingcryptographytosecure the transactionsandto
control the creationof newunits.Cryptocurrenciesare asubsetof alternative currencies,orspecificallyof digital
currencies.Bitcoinbecame the firstdecentralizedcryptocurrencyin2009. Since then,numerouscryptocurrencieshave
beencreated.These are frequentlycalledaltcoins,asa blendof bitcoinalternative.Cryptocurrenciestypicallyfeature
decentralizedcontrol (asopposedtoacentralizedelectronicmoneysystem,suchasPayPal) anda publicledger(suchas
bitcoin'sblockchain) whichrecordstransactions.
Cryptocurrencyisproducedbythe entire cryptocurrency systemcollectively,atarate whichisdefinedwhenthe system
iscreatedand whichispubliclyknown.Incentralizedbankingandeconomicsystemssuchasthe Federal Reserve
System,corporate boardsor governmentscontrol the supplyof currencybyprintingunitsof fiatmoneyordemanding
additionstodigital bankingledgers.However,companiesorgovernmentscannotproduce unitsof cryptocurrencyandas
such,have not so far providedbackingforotherfirms,banksorcorporate entitieswhichholdassetvalue measuredina
decentralizedcryptocurrency.The underlyingtechnical systemuponwhichall cryptocurrenciesare now basedwas
createdby the groupor individual knownasSatoshi Nakamoto.
As of March 2015, hundredsof cryptocurrencyspecificationsexist;mostare similartoandderivedfromthe firstfully
implementeddecentralizedcryptocurrency,bitcoin.Withincryptocurrencysystemsthe safety,integrityandbalance of
ledgersismaintainedbyacommunityof mutuallydistrustful partiesreferredto asminers:membersof the general
publicusingtheircomputerstohelpvalidateandtimestamptransactionsaddingthemtothe ledgerinaccordance with
a particulartime stampingscheme.
The securityof cryptocurrencyledgersisbasedonthe assumptionthatthe majorityof minersare honestlytryingto
maintainthe ledger,havingfinancialincentivetodoso.
Most cryptocurrenciesare designedtograduallydecrease productionof currency,placinganultimate caponthe total
amountof currencythat will everbe incirculation.Thiscanmimicthe scarcity(andvalue) of preciousmetalsandavoid
hyperinflation.Comparedwithordinarycurrenciesheldbyfinancial institutionsorkeptas cash onhand,
cryptocurrenciesare lesssusceptible toseizure bylaw enforcement.
What is Bitcoinand Altcoins?
Bitcoinisa paymentsysteminventedbySatoshi Nakamoto,whopublishedthe inventionin2008 and releaseditas
open-source software in2009. The systemispeer-to-peer;userscantransact directlywithoutneedinganintermediary.
Transactionsare verifiedbynetworknodesandrecordedina publicdistributedledgercalledthe blockchain.The ledger
usesitsownunitof account,also calledbitcoin.The systemworkswithoutacentral repositoryorsingle administrator,
whichhas ledthe US Treasuryto categorize itas a decentralizedvirtual currency.Bitcoinisoftencalledthe first
cryptocurrency,althoughpriorsystemsexisted.Bitcoinismore correctlydescribedasthe firstdecentralizeddigital
currency.It isthe largestof itskindintermsof total marketvalue.
Bitcoinsare createdas a reward forpaymentprocessingworkinwhichusersoffertheircomputingpowertoverifyand
record paymentsintothe publicledger.Thisactivityiscalledminingandthe minersare rewardedwithtransactionfees
and newlycreatedbitcoins.Besidesmining,bitcoinscanbe obtainedinexchange fordifferentcurrencies,products,and
services.Userscansendand receive bitcoinsforanoptional transactionfee.
Bitcoinas a formof paymentforproductsand services hasgrown,andmerchantshave an incentive toacceptitbecause
feesare lowerthanthe 2–3% typicallyimposedbycreditcardprocessors.Unlike creditcards,anyfeesare paidby the
purchaser,notthe vendor.
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Block chain
The blockchain isa publicledgerthatrecordsbitcointransactions.A novel solutionaccomplishesthiswithoutany
trustedcentral authority:maintenanceof the blockchainisperformedbyanetworkof communicatingnodesrunning
bitcoinsoftware.Transactionsof the formpayerX sendsY bitcoinstopayee Z are broadcast to thisnetworkusing
readilyavailable software applications.Networknodescanvalidatetransactions,addthemtotheircopyof the ledger,
and thenbroadcastthese ledgeradditionstoothernodes.The blockchainisa distributeddatabase;inorderto
independentlyverifythe chainof ownershipof anyandeverybitcoin(amount),eachnetworknode storesitsowncopy
of the blockchain.Approximatelysixtimesperhour,anew groupof acceptedtransactions,ablock,iscreated,addedto
the blockchain,and quicklypublishedtoall nodes.Thisallowsbitcoinsoftware todeterminewhenaparticularbitcoin
amounthas beenspent,whichisnecessaryinordertopreventdouble-spendinginanenvironmentwithoutcentral
oversight.Whereasaconventional ledgerrecordsthe transfersof actual billsorpromissorynotesthatexistapartfrom
it,the blockchainisthe onlyplace thatbitcoinscanbe saidto existinthe formof unspentoutputsof transactions.
Units
The unitof account of the bitcoinsystemisbitcoin.Asof 2014, symbolsusedtorepresentbitcoinare BTC.Small
amountsof bitcoinusedas alternative unitsare millibitcoin(mBTC),microbitcoin(µBTC),andsatoshi.Namedinhomage
to bitcoin'screator,a satoshi isthe smallestamountwithinbitcoinrepresenting0.00000001 bitcoin,one hundred
millionthof abitcoin.A millibitcoinequalsto0.001 bitcoin,whichisone thousandthof bitcoin.One microbitcoinequals
to 0.000001 bitcoin,whichisone millionthof bitcoin.A microbitcoinissometimesreferredtoasa bit.
On 7 October 2014, the BitcoinFoundationdisseminatedaplantoapplyfor an ISO4217 currencycode forbitcoinand
mentionedBTCandXBT as the leadingcandidates.
Ownership
Simplifiedchainof ownership.Inreality,atransactioncanhave more than one inputandmore thanone output.
Ownershipof bitcoinsimpliesthatausercan spendbitcoinsassociatedwithaspecificaddress.Todoso, a payermust
digitallysignthe transactionusingthe correspondingprivate key.Withoutknowledge of the private key,the transaction
cannot be signedandbitcoinscannotbe spent.The networkverifiesthe signature usingthe publickey.If the private key
islost,the bitcoinnetworkwill notrecognizeanyotherevidence of ownershipthe coinsare thenunusable,andthus
effectivelylost.Forexample,in2013 one usersaid he lost7,500 bitcoins,worth$7.5 millionatthe time,whenhe
discardeda harddrive containinghisprivate key.
Transactions
A transactionmusthave one or more inputs.For the transactionto be valid,everyinputmustbe anunspentoutputof a
previoustransaction.Everyinputmustbe digitallysigned.The use of multipleinputscorrespondstothe use of multiple
coinsina cash transaction.A transactioncan alsohave multiple outputs,allowingone tomake multiple paymentsinone
go. A transactionoutputcan be specifiedasan arbitrarymultiple of satoshi.Asina cash transaction,the sumof inputs
(coinsusedtopay) can exceedthe intendedsumof payments.Insuchcase,an additional outputisused,returningthe
change back to the payer.Anyinputsatoshisnotaccountedforin the transactionoutputsbecome the transactionfee.
To sendmoneytoa bitcoinaddress,users canclicklinksonwebpages;thisisaccomplishedwithaprovisional bitcoinURI
scheme usingatemplate registeredwithIANA.Bitcoinclientslike ElectrumandArmorysupportbitcoinURIs.Mobile
clientsrecognize bitcoinURIsinQR codes,sothat the userdoesnot have to type the bitcoinaddressandamountin
manually.The QRcode isgeneratedfromthe userinputbasedonthe paymentamount.The QR code isdisplayedonthe
mobile devicescreenandcanbe scannedby a secondmobile device.
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Mining
Relative miningdifficultyfrom9January2009 to 31 December2014 (the difficultyscale islogarithmic).Relativemining
difficultyisdefinedasthe ratiobetweenthe difficultytargeton9 January2009 and the currentdifficultytarget.
Miningisa record-keepingservice.Minerskeepthe blockchainconsistent,complete,andunalterable byrepeatedly
verifyingandcollectingnewlybroadcasttransactionsintoanew groupof transactionscalledablock.A newblock
containsinformationthat"chains"ittothe previousblockthusgivingthe blockchainitsname.Itis a cryptographichash
of the previousblock,usingthe SHA-256hashingalgorithm.
In orderto be acceptedby the restof the network,anew blockmust containa so-calledproof-of-work.The proof-of
workrequiresminerstofindanumbercalledanonce,such that whenthe blockcontentishashedalongwiththe nonce,
the resultisnumericallysmallerthanthe network'sdifficultytarget.Thisproof iseasyforanynode inthe networkto
verify,butextremelytime-consumingtogenerate,asfora secure cryptographichashminersmusttry manydifferent
nonce values(usuallythe sequence of testedvaluesis0,1, 2, 3, ...before meetingthe difficultytarget.
Every2016 blocks(approximately14days),the difficultytargetisadjustedbasedonthe network'srecentperformance,
withthe aimof keepingthe average time betweennew blocksattenminutes.Inthiswaythe systemautomatically
adaptsto the total amountof miningpoweronthe network.Forexample,between1March 2014 and 1 March 2015,
the average numberof nonce minershadto try before creatinganew blockincreasedfrom16.4 quintillionto200.5
quintillion.
The proof-of-worksystem, alongside the chainingof blocks,makesmodificationsof the blockchainextremelyhardasan
attackermust modifyall subsequentblocksinorderforthe modificationsof one blocktobe accepted.Asnewblocksare
minedall the time,the difficultyof modifyingablockincreasesastime passesandthe numberof subsequentblocks
(alsocalledconfirmationsof the givenblock) increases.
Practicalities
It has become commonforminerstojoinorganizedminingpools,whichcombine the computational resourcesof their
membersinorderto increase the frequencyof generatingnew blocks.The rewardforeachblockisthensplit
proportionatelyamongthe members,creatingamore predictable streamof income foreachminerwithoutnecessarily
changingtheirlong-termaverage income,althoughafee maybe chargedfor the service.
The rewardsof mininghave ledtoever-more-specializedtechnologybeingutilized.The mostefficientmininghardware
makesuse of custom designedapplication-specificintegratedcircuits,whichoutperformgeneral purposeCPUswhile
usinglesspower.Asof 2015, a minerwhoisnot usingpurpose-builthardware isunlikelytoearnenoughto coverthe
cost of the electricityusedintheirefforts,evenif theyare amemberof a pool.
Supply
The successful minerfindingthe newblockisrewardedwithnewlycreatedbitcoinsandtransactionfees.Asof 28
November2012, the rewardamountedto25 newlycreatedbitcoinsperblockaddedtothe blockchain.To claimthe
reward,a special transactioncalledacoinbase isincludedwiththe processedpayments.All bitcoinsincirculationcanbe
traced back tosuch coinbase transactions.The bitcoin protocol specifiesthatthe rewardforaddinga blockwill be
halvedapproximatelyeveryfouryears.Eventually,the rewardwill be removedentirelywhenanarbitrarylimitof 21
millionbitcoinsisreachedthe year2140 givingus124 years of successful mining,andrecordkeepingwill thenbe
rewardedbytransactionfeessolely.
Example ofMining Farm
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Transaction fees
Payinga transactionfee isoptional,butmayspeedupconfirmationof the transaction.Payershave anincentive to
include suchfeesbecause doingsomeanstheirtransactionismore likelytobe addedtothe blockchainsooner;miners
can choose whichtransactionstoprocessand prioritize those thatpayhigherfees.Feesare basedonthe storage size of
the transactiongenerated,whichinturnisdependenton the numberof inputsusedtocreate the transaction.
Furthermore,priorityisgiventoolderunspentinputs.
A walletstoresthe informationnecessarytotransactbitcoins.While walletsare oftendescribedasa place toholdor
store bitcoins,due tothe nature of the system,bitcoinsare inseparable fromthe blockchaintransactionledger.Perhaps
a betterwayto describe awalletissomethingthat"storesthe digital credentialsforyourbitcoinholdings"andallows
youto access (andspend) them.Bitcoinusespublic-keycryptography,inwhichtwocryptographickeys,one publicand
one private,are generated.Atitsmostbasic,a walletisa collectionof these keys.
There are several typesof wallet.Software walletsconnecttothe networkandallow spendingbitcoinsinadditionto
holdingthe credentialsthatprove ownership.Internetservicescalledonlinewalletslike Blockchain.info,Circle,Coinbase
or CoinCorneroffersimilarfunctionalitybutmaybe easiertouse;inessence,bitcoincredentialsare storedwiththe
online walletproviderratherthanonthe user's hardware.Physical walletsalsoexistandare more secure,astheystore
the credentialsnecessarytospendbitcoinsoffline.Examplescombineanoveltycoinwiththese credentialsprintedon
metal,wood,orplastic.Othersare simplypaperprintouts.Anothertype of walletcalledahardware walletkeeps
credentialsoffline whilefacilitatingtransactions.
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Garth Stevens
Highperformance specialist, Sitedemolitionsupervisor, Cryptocoinminer
EXECUTIVE SUMMARY:
I startedmy careerat the age of 14, I openedagamesconsole repairshopfromhome,buying,fixingandsellinggaming
equipment.Atthe age of 16 I thenopenedupa constructioncompanywithmy dadin the UK under“T N G
CONSTRUCTION & TECHNICALSERVICES”December2006 – March 2013.
In betweenworkingIwasstudyingandgot16 accreditedqualificationsrangingfromGCSE’stoNVQ’s2008 - 2012.
Aftercollage Ireturnedto“T N G CONSTRUCTIONS& TECHNICALSERVICES”full time.
March 2013 I thendecidedtoimmigrate toSouthAfricafromthe UK.
Once here I thenstartedworkingformyself buyingandsellingcarstomake a living,Ithenprogressedtobecominga
performance specialist,specialisinginthe modificationof carsforthe purpose of drag racing,streetracing,track racing
and or justgeneral performance enhancements.Ithenstarteddigital miningcryptocurrencyaswell asworkingparttime
withmystepdad doinglogistics“EASTCOASTLOGISTICS”whilstcontinuingwiththe carmodificationandpersonal
digital miningoperation.
I thengot offeredapositionasa demolitionsite manager/supervisorat“CAPESTATION DEMOLITIONS”.
My responsibility’sincluded,butnotlimitedto:
Buying,fixing, sellinggamingequipment.
Supervisingsites.
Managing staff members.
Buyingandsellingcars.
Plumbing.
Electrical.
Carpentry.
Tilling.
Flooring.
Networkmanagement
Digital coinmining
Software development
Hardware engineering
My Skills Include:
EXCELLENT ELECTRONIC AND MECHANICAL SKILLS
NETWORK PENETRATION TESTING
LINUX CODING
MICROSOFT CODING
ELECTRONICAL AND MECHANICAL ENGINEERING
COMMUNICATIONAL SKILLS
DOCUMENT PREPARATION AND CONTROL
GENERAL BOOKKEEPING
ADMINISTRATION EXPIERENCE
ACCOUNTS PAYABLE
GENERAL MERCHANDISE AND SALES
DAILY APPOINTMENT BOOKINGS
STRONG ORGANISATIONAL SKILLS
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Personal Attributes:
HONEST, TRUSTWORTHY, RESPECTFUL, CONFIDENT AND INNOVATIVE
ALWAYS DEMONSTRATING SOUND WORK ETHICS
EFFECTIVE VERBAL AND LISTENING SKILLS
Personal Details:
Last Name : Stevens
First Names : Garth
Gender : Male
Residential Area : 105 Rusoord
31 Beach Road, Amanzimtoti, KZN,4126
Marital Status : Single
Dependents : None
ID Number : 9002135149083
Nationality : South African Citizen
Criminal Offence : None
Health : Excellent
Transport : Code 14
Languages : English and Afrikaans,Read and Write
Mobile Number : +27 (0) 73 335 9263
E-mail : gdswagger@gmail.com
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Educational History:
Last School Attended : Norlington School for Boys London UK
Year completed : 2006
Level Attended : GCSE’s equivalentto Matric,Grade 12
Subjects
Maths
Science
Geography
Graphic designs
English
Biology
History
P.E
Consumer studies
Computer Science
Employment History:
Company : T N G CONSTRUCTION TECHNICAL SERVICES
Period : December 2006 – March 2013
Company : BOOST ISSUE PERFORMANCE
Period : April 2013 – DECEMBER 2014
Company : BTC Digital Mining
Period : June 2014 – current
Company : CAPE STATION DEMOLITIONS
Period : March 2015 – July 2015
Motivation for change : I love a challengewith the rightamount of
rewards,a fierce competitor determined to
reach any goal and accomplish anythingI putmy
mind to. I’m a firm believer in the theory of
“you need to believe in order to achieve”.
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Employment References:
1. T N G CONSTRUCTION TECHNICAL SERVICES
Garth Stevens (CEO) : 073 335 9263
2. EAST COAST LOGISTICS
Garth Stevens : 073 335 9263
3. BOOST ISSUE PERFORMANCE
Garth Stevens (CEO) : 073 335 9263
4. CAPE STATION DEMOLITIONS
Robert Flynn (CEO) : 073 073 9468