How I can earn Bitcoin by confirming Bitcoin Transactions?

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: pearl11 on June 07, 2016, 11:01:16 PM

Quote from: Winoc on June 07, 2016, 12:09:10 AM

Quote from: Mongmongako on June 06, 2016, 11:44:15 PM

Anyone can know how I can find, earn, bitcoin by confirming transaction? Someone told me that I can earn bitcoin/money by just confirming transaction. Is that true?

It is called mining..Mining is not profitable for everyone.You will need a mining rig which is very costly.What are your electricity rates ? Your total profit can be calculated depending upon your electricity cost.Good luck!.

Mining will be only ptofitable if you have a bunch of referals who bought khs ,example on hash ocean...
But if you invested without any referrals,,you will need 1 -2 years to bring back what you have invested.

That is not mining. That is cloud mining, which is usually a scam. Actual mining is using computers (ASICs really) to hash block headers until the resulting hash is below a certain target. Actual mining is not very profitable without investing a lot of money into hardware.

pearl11

full member

Activity: 126

Merit: 100

Quote from: Winoc on June 07, 2016, 12:09:10 AM

Quote from: Mongmongako on June 06, 2016, 11:44:15 PM

Anyone can know how I can find, earn, bitcoin by confirming transaction? Someone told me that I can earn bitcoin/money by just confirming transaction. Is that true?

It is called mining..Mining is not profitable for everyone.You will need a mining rig which is very costly.What are your electricity rates ? Your total profit can be calculated depending upon your electricity cost.Good luck!.

Mining will be only ptofitable if you have a bunch of referals who bought khs ,example on hash ocean...
But if you invested without any referrals,,you will need 1 -2 years to bring back what you have invested.

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: Mongmongako on June 06, 2016, 11:44:15 PM

Anyone can know how I can find, earn, bitcoin by confirming transaction? Someone told me that I can earn bitcoin/money by just confirming transaction. Is that true?

Yes, in order to confirm transactions for the network you need to find ("mine") a block. The current reward for finding a block is 25 BTC (plus some fees). Soon the reward will be lowered to 12.5 BTC (the event is called "the halfening"). In order to mine you need a machine that is capable of calculating SHA-256(SHA-256(some data here)) quickly and efficiently. In the distant past this was done with regular computers, followed by a period where graphics cards where used. Now there is specialized hardware (called ASIC for application specific integrated circuit) which requires you to invest a significant amount of money into hardware before you can see small returns. Unless you are able to make a large investment dont bother with mining, cloud mining is often a front for a ponzi or not profitable, mining with the hardware you have (e.g. a regular PC) is not profitable because its power consumption is too high. Mining with old ASICs isnt worth it either unless you have access to very cheap electricity.

zeaderza

hero member

Activity: 896

Merit: 502

Hello,

You can earn bitcoin by confirming transaction if you are a miner.You need to buy a ASIC and start minings.

Winoc

member

Activity: 98

Merit: 10

Quote from: Mongmongako on June 06, 2016, 11:44:15 PM

Anyone can know how I can find, earn, bitcoin by confirming transaction? Someone told me that I can earn bitcoin/money by just confirming transaction. Is that true?

It is called mining..Mining is not profitable for everyone.You will need a mining rig which is very costly.What are your electricity rates ? Your total profit can be calculated depending upon your electricity cost.Good luck!.

Mongmongako

newbie

Activity: 56

Merit: 0

Anyone can know how I can find, earn, bitcoin by confirming transaction? Someone told me that I can earn bitcoin/money by just confirming transaction. Is that true?

Topic: How I can earn Bitcoin by confirming Bitcoin Transactions? (Read 712 times)