Learn how bitcoin is mined

[Hena101]

Mining is not something that is easy to do but it's also the way of getting bitcoin but it's easy to buy than mined if you have the money to save your time.

 

[jeff87]

Simply explained, mining is the process of creating a crypto coin by using computers to solve complicated computational mathematical equations. Bitcoin mining has become well-known, and many people participate in it. A new bitcoin is created when a complicated mathematical equation is successfully solved.

Bitcoin miners are also used in the solution of these difficult mathematical problems. The quantity of bitcoins created is directly proportional to the power of your computer hardware. A high hashrate per second is the result of high-powered mining equipment.

Bitcoin mining is a lucrative enterprise that is gaining traction among organizations, governments, and people.
In 2013, bitcoin miners began using equipment designed exclusively for mining. Application Specific Integrated Circuits, or ASICs, are used in bitcoin mining machines.

What are your thoughts on bitcoin mining?

I really do not know what bitcoin mining is all about. Its good that computers are solving those mathematical questions. It will be very stressful for me that I will solve mathematical problems with my own mind. Its good that its the computer that does it.

 

[Bookwormlux]

Bitcoin mining is sure very profitable and reliable, but it is not something that any Individual can just involve in due to the capital involved.

 

[Hena101]

Mining bitcoin is not for everybody because of the capital needed to mined it but it's profitable if you have the capital to mined it.

 

[uforwealth]

Simply explained, mining is the process of creating a crypto coin by using computers to solve complicated computational mathematical equations. Bitcoin mining has become well-known, and many people participate in it. A new bitcoin is created when a complicated mathematical equation is successfully solved.

Bitcoin miners are also used in the solution of these difficult mathematical problems. The quantity of bitcoins created is directly proportional to the power of your computer hardware. A high hashrate per second is the result of high-powered mining equipment.

Bitcoin mining is a lucrative enterprise that is gaining traction among organizations, governments, and people.
In 2013, bitcoin miners began using equipment designed exclusively for mining. Application Specific Integrated Circuits, or ASICs, are used in bitcoin mining machines.

What are your thoughts on bitcoin mining?

What always confuses me about Bitcoin mining is how it relates to high consumption of electricity or power. Is it the computation that consumes power or what?

 

[Aaron625]

The countries where they have high electricity charges , people cannot go for bitcoin mining. And also it depends on the legality of crypto mining before starting mining using mining rigs.

 

[Bookwormlux]

Mining bitcoin is not for everybody because of the capital needed to mined it but it's profitable if you have the capital to mined it.

If one really has enough money, then using it to mine is not bad because it is more profitable than just buying to resell when it rises.

 

[Suba]

In simple language, bitcoin mining can be interpreted as a process to get new Bitcoin, even though it is actually a confirmation process of a transaction, because the original purpose of mining is to keep the blockchain system decentralized. So miners are also tasked with ensuring all transactions have been recorded correctly, this process is carried out by thousands of miners' computers connected to the internet.

 

[Senator]

Bitcoin mining is not most what naive Bitcoin enthusiasts think they can simply use their home computers to mine and start making money. It doesn't work that way

 

[ahmedo24]

Real town time mining goes beyond home base computer and it is not for the poor or averagely ok guys because of the money involved in getting the gadjets.

 

[Kelly5]

Well said and also well explained too for the newbies in the cryptocurrency world . So people should stop the act and habit.if destroying their home computers with the thoughts that they can mine Bitcoin from it

 

[Bookwormlux]

In simple language, bitcoin mining can be interpreted as a process to get new Bitcoin, even though it is actually a confirmation process of a transaction, because the original purpose of mining is to keep the blockchain system decentralized. So miners are also tasked with ensuring all transactions have been recorded correctly, this process is carried out by thousands of miners' computers connected to the internet.

Never knew miners have this huge impact in cryptocurrencies. Does this mean that these miners are required for cryptocurrencies transactions to be possible?

 

[Suba]

Never knew miners have this huge impact in cryptocurrencies. Does this mean that these miners are required for cryptocurrencies transactions to be possible?

Yes you are right miners are really needed to run cryptocurrency servers and verify crypto transactions, in return they will get new crypto.

 

[Shigobad2020]

Bitcoin mining is actually really a great way to obtain some coin in ones profile. Nevertheless, the just point using this is actually simply that the mining is actually certainly not truly simple without a rigging body.

Bitcoin mining is a very good way and avenue to get more bitcoin into your wallet by mining on your mobile phone and your computer,but mining most of the time seems hard because it involved solving mathematical equation.

 

[Hena101]

Well said and also well explained too for the newbies in the cryptocurrency world . So people should stop the act and habit.if destroying their home computers with the thoughts that they can mine Bitcoin from it

Of course it does but not everybody knows that's why a forums like this are important in educating people on what they don't know.

 

[Bookwormlux]

Yes you are right miners are really needed to run cryptocurrency servers and verify crypto transactions, in return they will get new crypto.

That is nice then, but does this in anyway imply that they have some control over cryptocurrencies since we're made to believe cryptocurrencies are decentralized?

 

[Hojo]

At first I thought mining was easy until I saw thier video on YouTube , I was so discouraged and made up my mind to always buy or invest

 

[GIFTMICHAEL]

Even though I learn it over and over again without going to where it is practiced it wouldn't be possible to understand it all. I just need to learn and see how the processes works via physical and not virtual.

 

[jeff87]

Mining bitcoin is not for everybody because of the capital needed to mined it but it's profitable if you have the capital to mined it.

You are right. Everyone has the chance to mine Bitcoin. But because of the great amount of money needed in Bitcoin mining only a few individuals or institution are into mining the cryptocurrency coin.

 

[harrypaul]

As I think and I believe, the best way to crypto is by buying and trading.
There are so many bugs involved in mining and recently I have noticed that there are so many fake mining app online