Miners secure the Bitcoin network. They do this by making it difficult to attack, alter or stop. The more miners that mine, the more securethe network. The only way to reverse Bitcointransactions is to have more than 51% of the network hash power.
Does Mining help secure Bitcoin?
- Thread starter Anis Boukezzoula
- Start date
Mining for Bitcoin is like mining for gold—you put in the work and you get your reward. But instead of back-breaking labor, you earn the currency with your time and computer processing powe
Miners secure the Bitcoin network.they do this by making it difficult to attack,alter or stop.The more miners that mine, the more secure the network.The only way to revers Bitcoin transactions is to have more than 51 percent of the network hash power.
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In short, miners secure the Bitcoin network. They do this by making it difficult to attack, alter or stop. The more miners that mine, the more secure the network. The only way to reverse Bitcoin transactions is to have more than 51% of the network hash power.
But instead of back-breaking labor, you earn the currency with your time and computer processing power. “Miners”, as they are called, essentially upkeep and help secure Bitcoin's decentralized accounting system. ... In return, they earn Bitcoins, as well as transaction fees.
Bitcoin mining is a process of creating bitcoin through the block chain network by a set of blockchain experts known as miners. I do not think mining has anything to do with securing bitcoin, mining only creates and makes bitcoin available for people but about securing it, I am not sure it does.
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But instead of back-breaking labor, you earn the currency with your time and computer processing power. “Miners”, as they are called, essentially upkeep and help secure Bitcoin's decentralized accounting system. ... In return, they earn Bitcoins, as well as transaction fees.
But instead of back-breaking labor, you earn the currency with your time and computer processing power. “Miners”, as they are called, essentially upkeep and help secure Bitcoin's decentralized accounting system. ... In return, they earn Bitcoins, as well as transaction fees.
For me I believe mining helps to secure the platform more better. I terms of bitcoin it keeps growing stronger than ever. You can accumulate so much coin through mining process of a particular coin that you mine.
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Mining for Bitcoin is like mining for gold—you put in the work and you get your reward. But instead of back-breaking labor, you earn the currency with your time and computer processing power. “Miners”, as they are called, essentially upkeep and help secure Bitcoin’s decentralized accounting system.
Mining sure has effects on the price of bitcoins as mining activities has increased greatly and we can see that the price of the crypto coin has also increase so we can say mining has a direct effect on Bitcoin.
Mining for Bitcoin is like mining for gold—you put in the work and you get your reward. But instead of back-breaking labor, you earn the currency with your time and computer processing power. “Miners”, as they are called, essentially upkeep and help secure Bitcoin's decentralized accounting system
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Yes you are right it secure Bitcoin mining is the backbone of the Bitcoin network. ... Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions (hence Bitcoin's famous “blockchain”). For this service, miners are rewarded with newly-created Bitcoins and transaction fees.
Minning is a secure of earning crypto currencies without having to trade ( buy or sell), but by just web surfing. Minning secures the crypto currency in such a way that you can have access to do transactions with your crypto. Minning is actually efficient in securing crypto currencies.
I also do not really know if bitcoins help secure Bitcoin or other crypto currency but I know that Bitcoin is already safe and cannot be tampered with as it is a decentralized digital currency so what threat could it be possibly facing that miners want to solve.
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Bitcoin mining is the process of creating new bitcoin by solving a computational puzzles, its also neccesary to maitain ledgers of transactions upon which bitcoin is based, so bitcoin mining is a very good business.
Yes, it does help secure the Bitcoins in the sense that Bitcoin miners are genrating cryptocurrency and making money for themselves. I am not really sure what do you mean by saving Bitcoin. There is a limited amount of supply of Bitcoin as far as I know.
Ok.... That Is true... I believe continuous mining also increase the amount of bitcoin into the market and when supply is more than demand the price will be affected. don't we think mining can depreciate the price.
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Even though the question is not clear but the only thing i know is mining can help you get bitcoin but i don't know how it can secured your wallet.
yes mining helps us yo secure our bitcoin, even as you said earlier mining is important process to secure network,thats very true mining our bit coin helps us to secure our bitcoin and also keep it safe and safer
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