Someone explains well to me the mining??

abderrazak belkhir

full member

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Thank you all for the answer...i think that i get a good idea about the mining of bitcoin,thanks friends

piloder

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Quote from: abderrazak belkhir on March 15, 2018, 07:52:20 PM

Hello friends i just have some qeustions about the mining of btc:
1-why the total supply of bitcoin is not rise when the mining happen?
2-if the mining afect the price of bitcoin and how?

1. Supply of bitcoin is fixed from the first day of bitcoin and nobody knows why satoshi have choose 21 million as total supply of coin. Supply of bitcoin is less than 21 million right now but it is increasing everyday till it will reach that limit. After that there will be no more mining reward for miners but they will get tx fee.

2. Mining will affect total circulating supply not the total maximum supply.

PatronRH

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Im not sure if I'm really going to answer all your questions but I know that miners regulate bitcoin transactions thus keeping the network stable and preventing it from crashing.

daarul50

legendary

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In bitcoin mining, the more blocks are solved the greater the difficulty for the miners so it takes a very long time to mine the bitcoin so that the total supply will not be seen to increase significantly different from mining with other algorithms. While mining does not significantly affect bitcoin prices because the bitcoin price in some marketplaces is the bitcoin holders, the miners only process assist in processing a bitcoin transaction.

PauloLuks

member

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Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.

cissrawk

sr. member

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Secure your crypto : https://notyourkeys.org

i will skip first question since i dont know the answer

Quote from: abderrazak belkhir on March 15, 2018, 07:52:20 PM

2-if the mining afect the price of bitcoin and how?

IMO, more difficult to mine = higher bitcoin price, almost same as gold. But this is old theory and as you can see the difficulty increase a lot this year but the bitcoin price still going down.

abderrazak belkhir

full member

Activity: 1100

Merit: 169

Hello friends i just have some qeustions about the mining of btc:
1-why the total supply of bitcoin is not rise when the mining happen?
2-if the mining afect the price of bitcoin and how?

Topic: Someone explains well to me the mining?? (Read 181 times)