http://forklog.net/bitcoin-mining-past-present-and-future
Topic: History of Bitcoin Mining (Read 540 times)
Here's an interesting article about the history of mining if you're interested
http://forklog.net/bitcoin-mining-past-present-and-future
http://forklog.net/bitcoin-mining-past-present-and-future
but still would like to know how it all began,
Mining is the process specified by Satoshi Nakamoto in the Bitcoin whitepaper which generates a proof of work for each block in the blockchain. Mining was always around and could previously be done on CPUs and GPUs. The first release of the Bitcoin client contained a built-in miner.I think mining was the fastest way to get bitcoins when it first came out.
Part of mining is the generation of new Bitcoin. Because Bitcoin is not premined, the only way to get Bitcoin when Bitcoin first came out was to mine them.
Bitcoin mining is very easy to do, but now it is very is difficult to get coins very quickly because you need spend more money on hardware for mining. There are different types mining we have cpu, gpu, solo mining and another one is investment based mining. Each of these needs money because there is power consumption and you need to find one best hardware where you can mine coins very quickly.
Coming to investment based means you need to invest some money in order to make bitcoins, but here the problem daily they will pay bitcoins but there internal fee will be very high, and also you will be getting very less coins. For bitcoin Mining always requires an hardware.
Coming to investment based means you need to invest some money in order to make bitcoins, but here the problem daily they will pay bitcoins but there internal fee will be very high, and also you will be getting very less coins. For bitcoin Mining always requires an hardware.
Mining is an integral part of Bitcoin. Bitcoin began when Satoshi mined the initial block, known as the "genesis" block.
Can anyone tell me how bitcoin mining came to be? I understand it is quite a lengthy topic to understand, but I would like to, even though I understand most basic things about bitcoin, mining is something I have never done and do not plan to do, but still would like to know how it all began, I think mining was the fastest way to get bitcoins when it first came out.
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