Topic: What is Bitcoin mining? - page 2. (Read 10321 times)

Hi,

If you want to find out more about Bitcoin mining, I'm doing weekly videos on YouTube; showing profitability mining in Québec. We currently have 5.6 cents electricity cost. Currently uploaded week 3 and will be doing a video each week showing how our Antminer S9 is doing. We ordered a few more S9, but for consistency, I'll keep showing profitability for the original miner.

https://youtu.be/JY4yStm0f7w

Cheers

as I am thinking ,its a king of calcuating then we can earn some bitcoin as payback, and other coin like BTC is also the same way

Hello,

Maybe this will help    : https://www.coindesk.com/information/how-bitcoin-mining-works/

Bitcoin mining (Bitcoin Mining) is one way to get a Bitcoin. As mentioned earlier, we can see the Bitcoin as a great global cash system that stores transaction history (or ' movement of money ') from one person to another. When the transaction was processed in the Bitcoin Bitcoin network--meaning that Bitcoin is being transferred from one person to another--someone needs to ensure that all transactions have been properly recorded and cash systems have synchronized worldwide.

In that case, this process is not a Bitcoin is done by an individual or a company, but by thousands of computers around the world that are connected to the internet. This computer is known as miners or miners ' '. Simply put, they are ' computer that processes the transaction '.

I think bitcoin mining is a way to get bitcoin in the main trading way to profit for people.

Bitcoin mining is the way in which miners use digging machines to solve complex codes to obtain bitcoins. There are now many people involved in this field.

This is a form of bitcoin mining by excavators, which digs up algorithms to obtain bitcoin. Currently bitcoin mining is a very hot sector. Every day, there are many bitcoin exploiting farms in the world.

Bitcoin mining is a way of owning bitcoins through trading.

bitcoin mining is buying and selling coins with world currencies. Bitcoin can be called a stock for profit and can invest it for capital.

In another definition, Bitcoin mining serves to both add transactions to the block chain and to release new Bitcoin. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The first participant who solves the puzzle gets to place the next block on the block chain and claim the rewards.
 In reality, it's simply the verification of bitcoin transactions. For example, mr Ben buys a TV from mr John with a bitcoin. In order to make sure his bitcoin is a genuine bitcoin, miners begin to verify the transaction.

bitcoin mining is just like a production machine of different commodities. as there are different things for different machines.
bitcoin is also a machine for mining bitcoin.
bitcoin is not a physical currency therefore making a bitcoin is called mining and not production.
mining is also very profitable and covers all the capital of miners in just a few months.
mining also do not take too much time.
mining is actually the production of bitcoins.
bitcoin mining is just a simple thing, bitcoin mining is actually solving the mathematical problem and then creating new bitcoins.
mined bitcoins are the bitcoins that are transacted once and then stored.
bitcoin mining is the process of which transactions are verified and then added to the public ledger, known as the block chain and also the means through which new bitcoin is released.
Only because of mining the whole bitcoin network is working.
in the early stages of bitcoin and blockchain technology mining is so easy that bitcoin mining can be done easily with normal computer's after every three to four years time this technology is increasing the difficulty of mining bitcoins so now it is not possible to mine bitcoin with simple computers.
High has ASIC mining machines and power generators are required for mining. In most of the developed countries miners use mining rigs and power plants for mining and to mitigate electricity they use natural resources like solar panels and geothermal energy sources for generating power.

Hello sir, can explain to me the possible reason why bitcoin mining is the heart of BTC? just for clarification to me if you don't mind. I just wanna understand clearly. Thanks.

Is it still possible to mine btc without actually buying expensive gadgets and using less electricity?.
I hear it can't be done due to the high influx of big corporations in btc mining.
Is this information true?

Bitcoin mining helps to release new bitcoins in the cryptography network out of the 21 million bitcoins by solving complicated mathematical problems through power generated machines like GPU and ASIC miners, in the early stages of bitcoins bitcoin mining was so simple that even CPU mining was possible which means mining with normal computers they were used to release 50 to 150 bitcoins for a single mining. Every four to three years the difficulty of mining increases, the bitcoin miners makes the bitcoin network more secure by verifying and approving each transactions carried out in the bitcoin network.

Bitcoin mining is the first way to earn bitcoins, The stronger your gpu means the best hash rate you will gonna get. It will be an advantage for you if your area has a low electricity consumption because mining hardware also consume a lot of electricity.

It is Bitcoin mining which is a process by this process  transactions are verified and added to the public ledger. By mining new bitcoins are created. The mining process involves compiling recent transactions into blocks. Mining is also a process to sell bitcoin in the market.

I think in the simple way , we could see mining Bitcoin as solving Maths but the thing is it's machines's job not for human.

Hello.

Does anybody think there is still time and point for newbies to mine BTC or better to try smth else?

How can I mining bitcoin?

Bitcoin mining is the process of by which transaction are verified and added to the public ledger, known as the Block chain. Bitcoin mining is verify transaction form one user to other user by block chain.  Without mining it's not possible to successful transaction.