What is a Bitcoin?
Bitcoin is a cryptocurrency (digital money) fully managed and run by decentralized and automated network of computers that validated each transaction with a complex software program. This enables a new payment system and a completely digital money.
What is an Altcoin?
An altcoin is any digital cryptocurrency similar to Bitcoin. The term is said to stand for “alternative to Bitcoin” and is used describe any cryptocurrency that is not a Bitcoin. Examples are Ethereum, Litecoin, Dash, Monero, ZCash, etc.
How do I mine Bitcoins and Altcoins?
Bitcoins can be mined with specialized hardware called ASIC miners designed to mine Bitcoins. Bitmain Antminer S9 is the most popular and powerful miner for Bitcoin as of today.
Altcoins can be mined with GPU Mining Rigs and ASIC miners.
What is the difference between GPU Miner and ASIC Miner? (GPU Miner vs ASIC Miner)
GPU based mining has an advantage of mining various coin based on the current profitability of the selected coins, wherein, ASIC miners are designed to mine a particular coin based on the ASIC miner model.