How does Bitcoin Mining work?

[Justin]

I do not know any technical aspects of mining, all I know is you need to set up your mining rig to mine and earn coins. You can also do cloud mining but it is difficult to find legit cloud mining platform.

 

[Bousine123]

The best way to mine bitcoin is to use a mining rig instead of your in phone or personal computer, if you use you phone or personal computer it may damage your batteries because it consumes battery life alot.

 

[Lens]

The bitcoin mining involve solving complex mathematical equations . The bitcoin is produced after successfully solving the mathematical equations. Bitcoin mining is a very complex process.

 

[Ononivami]

Free bitcoin mining is very discouraging because the pay rate is very low. You will be discouraged if you are not paying for the hashrate or simply put , the mining speed. Free mining is a waste of time.

 

[Sincerem]

Crypto currency mining but in this case Bitcoin mining is a kind of game which operates under the blockchain system where activities or specific tasks are perform and miners are paid in crypto currency or Bitcoin in this platform.

 

[Sotherefore]

I don't really know much about the mining of crypto currency but from what I read sometimes ago I think it has to deal with the solving of complicated mathematical algarithm, that's just what I know about it.

 

[HayKay]

Bitcoin is actually the reward you get for solving complex mathematical algorithms or problems. So when you're talking about mining, you're simply solving the equations in the blockchain. The more you solve, the higher your rewards.

 

[Bookwormlux]

Bitcoin mining works in such a way that only regulated companies who have the license can involve in it. This is why it is not so common as we would ordinarily expect to be.

 

[Syldan]

To be sincerely, bitcoin mining is very stressful compared to any online jobs and it not profitable it needs alot of power supply and consumption and its speed sometimes depends on the capacity of the device you are using.
I dont think the mining of bitcoin is quite different from the mining of any other coin. Almost all the mining process are the same though it may varies in the mining platform.

 

[Lens]

The bitcoin mining is when a new bitcoin is formed by solving complex mathematical equation. If the computational equation is successfully solved, a bitcoin is formed.