Mining is a really important process to secure the network and for sure operate a secure for our network payments, so Mining has a big influence to keep Bitcoin safe.
what do you think!
what do you think!
Does Mining help secure Bitcoin?
- Thread starter Anis Boukezzoula
- Start date
I really don't understand how mining could help secure the bitcoins in our wallets.
I don't understand what you mean ... what do you mean that mining is the most useful to keep btc safe?
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The question is not cleared,I don't understand how mining help secured btc, all what I know is mining is used to generate some meager amount of btc.
If by this you mean Mining helps in keeping Bitcoin from unnecessary access ,then I will agree with you.
- Thread starter
- #6
I think you don't understand very well the mining processes, you should read this;
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Mining is another way obtain Bitcoin. But it might be a bit slow before a significant amount of Bitcoin can be obtained.
conaljom
Guest
Mining BTC offline is the most safe way of acquiring BTC since nobody tracks or hacks your wallet.
vest1992
Guest
It is important since at the moment it is the only way to get btc out of thin air so to speak, that s why the miners were saying that if they sell at 20.000$ the price will drop and they could buy again way cheaper grind more and sell again when the price raises.
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I think you're right about what you said on mining, mining creates a secure network for Bitcoin transactions, makes Bitcoin gain more values. Because the more the mine it the bigger in value.
To understand all this you need to read a lot of literature or watch a video about blockchain and P2P .. What is hash and how it works. It will also be good if you watch videos on encryption types and cryptography
How does a blockchain work - Simply Explained
Yes
- By mining, you can earn cryptocurrency without having to put down money for it.
- Bitcoin miners receive Bitcoin as a reward for completing "blocks" of verified transactions which are added to the blockchain.
- Mining rewards are paid to the miner who discovers a solution to a complex hashing puzzle first, and the probability that a participant will be the one to discover the solution is related to the portion of the total mining power on the network
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Dear member @Anis Boukezzoula Yes you are right and without the doubt miners doing they high role in process and also has their big influence in Bitcoin security transaction. Because their work is about to verify the legitimacy of Bitcoin transactions and then will get paid to do this work.
Bitcoin mining includes ground-breaking PCs endeavoring to tackle the complex numerical issues of the Bitcoin calculation. Taking care of these issues helps keep the blockchain record and organization secure dependable. All Bitcoin Miners add to this cycle.
I think it's a very unique concept, mining bitcoin not only helps secure the network but it does so by using regular people pcs to do so, basically "hoping" that the hash rate provided by legit miners is more than that of hackers or people trying to take advantage of the coin. And also rewards the miners for keeping the network secure, basically a win-win situation for well... everyone!
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Blocks are worked on by miners in sequence, New transaction blocks are recorded into the block chain, so that based on the processing power of miners can secure and maintain Bitcoin and Bitcoin transactions also cannot be manipulated by anyone, transactions cannot be undone.
It involves powerful computers attempting to solve the complex mathematical problems of the Bitcoin algorithm. Solving these problems helps keep the blockchain ledger and network trustworthy.
Bitcoin is more secured with mining of Bitcoin because new ones means new algorithms that can't be altered, it strengthens the blockchain network thereby helping Bitcoin along the way.
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The answer is yes. you can secure a huge amount of Bitcoin through mining it , but it depends on the platform that you are using to mine, for example I use telegram bot to mine, they are very reliable, ready to pay you once you reach there Minimum amount for withdrawal.
The answer is yes. you can secure a huge amount of Bitcoin through mining it , but it depends on the platform that you are using to mine, for example I use telegram bot to mine, they are very reliable, ready to pay you once you reach there Minimum amount for withdrawal.
Post automatically merged:
The answer is yes. you can secure a huge amount of Bitcoin through mining it , but it depends on the platform that you are using to mine, for example I use telegram bot to mine, they are very reliable, ready to pay you once you reach there Minimum amount for withdrawal.
By mining, you can earn cryptocurrency without having to put down money for it. Bitcoin miners receive Bitcoin as a reward for completing "blocks" of verified transactions which are added to the blockchain.
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