Topic: How is the bitcoin given to the miner? (Read 240 times)

EXtremeAEX

hero member

Activity: 798

Merit: 503

When a new block is discovered, 25 BTC is awarded, and split up to everyone who has helped in the mining process. Because the difficulty of mining is so high right now, miners mine in a pool, so the rewards gets distributed accordingly to how much you contributed.

On top of that, miners get paid with our transaction fees, which will increase when difficulty increases, for helping us verify the block. That's how they earn bitcoin from mining. Of course, if you can verify a block all by yourself, you can get 25BTC. Grin

philip2000uk

sr. member

Activity: 276

Merit: 250

I watched an hour video on bitcoin

So the miner puts all transactions into a block and finds a certain number.

Then when they get the block. The system gives them 25 bitcoins for example.

So then does the system give them the keys.

Public and private key for 25 bitcoins?

The way the lecturer said it was that it's not really finding the key for each bitcoin

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