Bitcoin Terms

Femi asked 2 months ago

Hello, you’re doing a great job,
I’m new to Bitcoin and would like to know the difference between the terms i’ve seen so far. In other words i would like to know what the following terms mean.
TH/s, KH/s, H/s, UBTC, Difficulty, Scrypt, (i’ll appreciate any other term relevant to this discussion that i might have left out.)
Also, if solo Bitcoin mining is no longer worthwhile as i have read in some articles on your site, why are companies producing more and more mining apps (both on PC and mobile platforms)
Thanks.

Ofir Beigel Staff replied 2 months ago

I don’t think this actually mines Bitcoins, it’s probably some for of a Bitcoin faucet that gives away small amount of Bitcoins in exchange for viewing ads. If it pays then great, but I’m not sure this is something I’d waste my time on, but you can give it ago.
Just a word of warning – I wouldn’t install anything on my machine that I don’t know where it came from.
The reason I say this is not mining related is because today you won’t be able to mine using your home computer. You can let it do the work but it won’t find any Bitcoins.

Femi replied 2 months ago

Thanks for the link Ofir, an example of what i meant by Bitcoin mining app is GroupFabric Inc’s Bitcoin Miner (https://www.microsoft.com/en-us/store/p/bitcoin-miner/9wzdncrdhxb6). I would appreciate your true opinion of the company and their Coinbase wallet. They were my first contact with Bitcoin before i came across 99

1 Answers
Ofir Beigel Staff answered 2 months ago

Femi you’ve come to the right place!
First of all here’s a pretty extensive Bitcoin glossary for any term you want to look up. Regarding the mining question – I believe what you’re referring to are cloud mining sites that don’t really mine. They are just ponzi schemes disguised as sites that allow you to mine Bitcoin in order to get the audience excited and invest money in them. If I didn’t fully answer your question please let me know.

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