Topic: What is Bitcoin mining? - page 4. (Read 10290 times)
Bitcoin mining is the process by which the transaction information distributed within the bitcoin network is validated and stored on the blockchain.It is a strategy in which you solve mathematical problems and get paid once you solved it. However,profitability in this case depends on many factors and how willing you are to take risk.
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Point-1 to remember is that not all crypto coins are 'Bitcoin'. Bitcoin is a specific coin with very specific hardware needs which is very different from the hardware other coins use. The other coins are in general called altcoins and they have their own areas here so when you start posting hardware questions be sure you post in the correct area.
Start by browsing through the Beginners & Help section...
Point-1 to remember is that not all crypto coins are 'Bitcoin'. Bitcoin is a specific coin with very specific hardware needs which is very different from the hardware other coins use. The other coins are in general called altcoins and they have their own areas here so when you start posting hardware questions be sure you post in the correct area.
and you receive few bitcoin for that 
Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The speed at which you mine Bitcoins is measured in hashes per second.
The Bitcoin network compensates Bitcoin miners for their effort by releasing bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued bitcoins and from the transaction fees included in the transactions validated when mining bitcoins. The more computing power you contribute then the greater your share of the reward.
The Bitcoin network compensates Bitcoin miners for their effort by releasing bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued bitcoins and from the transaction fees included in the transactions validated when mining bitcoins. The more computing power you contribute then the greater your share of the reward.
It is the process for those transactions to go through. Miners are giving confirmations for the transactions.
Hello, I have a question,
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
From the word mining, it is the process of extracting bitcoins from the network.
The first and only way to earn Bitcoin was mining. This is a unique way that allows you to receive a crypto currency by "putting into operation" the power of your home computer. The essence of the principle is that the PC solves mathematical problems. After the solution of the problem (hash) is found, the miner will receive the reward. The profitability of mining fell significantly after the appearance of special devices on the market. The full professionalization of production made the use of conventional stationary computers unprofitable.
Hello, I have a question,
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
From the word itself mining means you are trying to look for something like gold mining you need to dig the soil to get gold, in bitcoin you need to solve blocks to get bitcoins.
BITCOIN MINING can be defined as a process of verifying and securing bitcoin transaction...
Hello, I have a question,
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
Bitcoin mining is the process where bitcoin blocks are being solved and those blocks contains bitcoins.It is a way for a person to have a bitcoin but difficulty level goes high because of the competition between miners.
Another purpose of mining is for transaction confirmations, every time a bitcoin is transferred from one wallet to another confirmations are needed for the transaction to be verified and for it to go through, those transactions are also included on the blocks that miners are solving every time. We can say that mining is the heart of the block chain once mining stops bitcoin might die because transfers will be impossible.
Mining as a art of adding transaction history to bitcoin's public Ledger of revious transaction.
Mining is the creation of crypto coins by a special algorithm. A unique data set (or block) is generated on the computer, which confirms the authenticity of payment transactions. The block consists of a header hash of the previous block, a hash of transactions, and a random number. A chain containing all transactions is called a blockchain.
Characteristic features of mining and blocking:
1)There is no centralized management in the virtual currency production system;
2)The system is anonymous;
3) It is impossible to create more bitcoins and altcoins than is necessary because the algorithm is given and it can not be changed;
4)Transactions can not be canceled, and all information about them is stored in a common database;
5)Earnings are provided from the resources of a separate computer.
Also you can use this a video "How to Mine Bitcoins Using Your Own Computer"
https://www.youtube.com/watch?v=6QpgP7XIzxk
Characteristic features of mining and blocking:
1)There is no centralized management in the virtual currency production system;
2)The system is anonymous;
3) It is impossible to create more bitcoins and altcoins than is necessary because the algorithm is given and it can not be changed;
4)Transactions can not be canceled, and all information about them is stored in a common database;
5)Earnings are provided from the resources of a separate computer.
Also you can use this a video "How to Mine Bitcoins Using Your Own Computer"
https://www.youtube.com/watch?v=6QpgP7XIzxk
Hello, I have a question,
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
Basically mining is the process of adding transaction records to bitcoins investor journal of past history. Mining build the network. Without mining their is no network and it will have zero value. You can say that bitcoin is dependent on mining. when you run the mine bitcoins then it is measured in hashes per second. Mining is used to introduce bitcoin in the system. Their is many types of mining like CPU mining, FPGA mining, pools, cloud mining etc. Hope it will help you.
Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions.
Oh, good answer. I was searching for as like your answer. By the way thank you very much.Before than I also thinking what can be it (mining).
Then, I am clear about this question.
Bitcoin mining is the process by which the transaction information distributed within the Bitcoin network is validated and stored on the blockchain. It is a term used to describe the processing and confirmation of payments on the Bitcoin network.
What makes the validation process for Bitcoin different from traditional electronic payment networks is that there is no need for an issuing bank, an acquiring bank, merchant accounts or mandatory centralized clearing houses, such as Visa and MasterCard, holding onto funds until they process transactions at the end of each day.
What makes the validation process for Bitcoin different from traditional electronic payment networks is that there is no need for an issuing bank, an acquiring bank, merchant accounts or mandatory centralized clearing houses, such as Visa and MasterCard, holding onto funds until they process transactions at the end of each day.
Bitcoin mining is the process of which transactions are verified and added to the public ledger, known as the blockchain, and also the means through which new bitcoins are released. ... The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.
Bitcoin mining is a the process by which ledger, know as the block chain and also means through which new bitcoin are released, the mining process involved compiling recent transaction into block and trying to solve a computation difficult puzzle.
Hello, I have a question,
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
Bitcoin Mining is a peer-to-peer computer process used to secure and verify bitcoin transactions—payments from one user to another on a decentralized network. Mining involves adding bitcoin transaction data to Bitcoin's global public ledger of past transactions.
Bitcoin mining is a lot like a giant lottery where you compete with your mining hardware with everyone on the network to earn bitcoins. Faster Bitcoin mining hardware is able to attempt more tries per second to win this lottery while the Bitcoin network itself adjusts roughly every two weeks to keep the rate of finding a winning block hash to every ten minutes. In the big picture, Bitcoin mining secures transactions that are recorded in Bitcon's public ledger, the block chain. By conducting a random lottery where electricity and specialized equipment are the price of admission, the cost to disrupt the Bitcoin network scales with the amount of hashing power that is being spent by all mining participants.
Bitcoin mining is a lot like a giant lottery where you compete with your mining hardware with everyone on the network to earn bitcoins. Faster Bitcoin mining hardware is able to attempt more tries per second to win this lottery while the Bitcoin network itself adjusts roughly every two weeks to keep the rate of finding a winning block hash to every ten minutes. In the big picture, Bitcoin mining secures transactions that are recorded in Bitcon's public ledger, the block chain. By conducting a random lottery where electricity and specialized equipment are the price of admission, the cost to disrupt the Bitcoin network scales with the amount of hashing power that is being spent by all mining participants.
What is Bitcoin (bitcoin, btc, Btk, bitcoin) in simple words? This is a new generation of decentralized digital currency, created and operating only on the Internet. No one controls it, currency issuance occurs through the work of millions of computers around the world, using a program to calculate mathematical algorithms. This is the essence of bitcoin.
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