Ofcourse it is! Currently BTC is increasing its price rapidly. As soon as you collect or buy BTC you can get more profit in the future because of price increase.
To get transactions from friends or to collect and pay out prizes from Bitcointree.net you need to have a Bitcoin Address. You can get one from one of online wallet. The advantages of that kind of wallet is that it’s accessible from everywhere you have an internet connection. for example:
– Blockchain.info where you create wallet and gain an address.
– Coinbase.com works just like blockchain.info
Instawallet.org where you get an unique URL with your Bitcoin Address, no registration is needed!
But if you want to be your own bank, and store your cash offline directly on your computer or smartphone you might consider using one of these:
– Full BTC client it needs to synchronize blockchain on your HDD, which takes around 10GB of space. However you help bitcoin network to work, because this client validating transactions in the network.
– Electrum wallet it is lightweight wallet, which stores only bitcoin addresses (And cash) and doesn’t need to synchronize with BTC network.
How can i get it?
- from this site for FREE!
- by exhanging real money into BTC. For example in the biggest BTC exhange Mt.Gox
- working for it as miner, using specialized software
- or you can even try gambling
Bitcoin network is decentralized p2p network. Every transaction have to be stored and approved in BTC network, so you may help it to keep going on, by sharing your computer’s power. Transactions are stored in “blocks”, and to create every one of them you have to decrypt it. Because amount of miners change, network is making different difficulty to every block, which is depending on current computing power of all miners, so that the new block appears every 10 minutes. And if you mine block you get a reward(currently it’s 25BTC for 1 block)
So if you want to start you can mine blocks only by yourself and keep full reward(but it can take a very long time, for example month) or you can sign up to one of bitcoin pools.
In these pools you are solving blocks with other miners in one pool, and you get reward for your input in this block.(it guarantees regular, and quick(few minutes) BTC, because your computing power sums with others in the pool.)
To start mining in pool you just have to download a mining software(you can choose one here or look for them at pools websites) and sign up in one of the pools. You can find some pools sites in Other Sites.