Topic: What is Bitcoin mining? - page 5. (Read 10290 times)
Bitcoin mining is the process of obtaining bitcoin by using bitcoin mining machines that run special software to view these transactions and collectively add them to the current 'block' of the transaction, while collecting the cost of the miners listed in each transaction This is the first incentive for bitcoin miners. The second incentive comes from block mining. For each transaction of bitcoin blocks generated, miners compete to solve 'difficult' math problems. The winner of this competition gets some new bitcoin made.
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 by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin.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.
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 by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin.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.
mining is those guys who use their prepossessing power to confirm your 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.
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.
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.
Well, I have never been try it before so I have less knowledge about bitcoin mining. However, as far as I know bitcoin mining is another way of gaining bitcoin yet, it is not that risky compared to other transaction. In order to try bitcoin mining you must have a fast internet connection and a hardware that mine bitcoins. 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.
It was clearly explained already above but to contribute, the technical definition of Bitcoin mining is a computer process used to get and gain bitcoin transactions payments from one address or account to another. Each group of transactions is called a block. Blocks are secured by Bitcoin miners and build on top of each other forming a chain called bloackchains. This ledger of past transactions is called the blockchain. The blockchain serves to confirm transactions to the rest of the network as having taken place. Anyone with access to the internet and suitable hardware can participate in mining. The mining process involves compiling recent transactions into blocks and like trying to solve a puzzle like situation.
if you've ever wondered where Bitcoin comes from and how it goes into circulation, the answer is that it gets "mined" into existence. 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. The rewards incentivize mining and include both the transaction fees (paid to the miner in the form of Bitcoin) as well as the newly released Bitcoin.
I really much agree with the explanation. According to me, Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin. 
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 by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin. 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 somewhat similar to mining gold and just like Gold there is only a limited number of 21 million Bitcoins can be mined each time the difficulty of mining increases, for mining Bitcoins there is a need of good computers and a special to solve complicated arithmetical problems using cryptographic hash functions, the problem can be solved with high powered computers. As the value of Bitcoin rises the number of people entering into the Bitcoin mining is also increasing.
Now a days many people are found investing on Bitcoin mining rigs and farms like in China, America and so on for mining Bitcoins as much as possible, and Bitcoin mining warehouse are built in places where the electricity prices are too low, others also find alternative sources like installing solar panels, thermal energy and other sources to produce electricity where the countries electricity rates are unaffordable for mining.
Now a days many people are found investing on Bitcoin mining rigs and farms like in China, America and so on for mining Bitcoins as much as possible, and Bitcoin mining warehouse are built in places where the electricity prices are too low, others also find alternative sources like installing solar panels, thermal energy and other sources to produce electricity where the countries electricity rates are unaffordable for mining.
If we put in a simple way, the Bitcoin mining is making money by preparing hardware and electricity. The hardware will work automatically and we do not need to do any work. We just need to set and clean the hardware so it is not damaged and dusty. We also have to control the temperature of the hardware so it is not too hot and quickly damaged.
But nowadays, Bitcoin mining are very difficult because of increasing competition and increasingly difficult code breaking.
You are very good at describing the Bitcoin mining with gold mining. Both are somewhat similar, if gold we need a variety of heavy equipment to do the mining. But if Bitcoin, we only need computers and hardware only. To be sure the Bitcoin mining is much cheaper.
Bitcoin mining is somewhat similar to mining gold and just like Gold there is only a limited number of 21 million bitcoins can be mined each time the difficulty of mining increases, for mining bitcoins there is a need of good computers and a special to solve complicated arithmetical problems using cryptographic hash functions, the problem can be solved with high powered computers. As the value of bitcoin rises the number of people entering into the bitcoin mining is also increasing.Now a days many people are found investing on bitcoin mining rigs and farms like in China, America and so on for mining bitcoins as much as possible, and bitcoin mining warehouse are built in places where the electricity prices are too low, others also find alternative sources like installing solar panels, thermal energy and other sources to produce electricity where the countries electricity rates are unaffordable for mining.
Bitcoin mining is a thing by which the transcation of Bitcoin will happen.This transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions of Bitcoin .
Bitcoin mining is somewhat similar to mining gold and just like Gold there is only a limited number of 21 million bitcoins can be mined each time the difficulty of mining increases, for mining bitcoins there is a need of good computers and a special to solve complicated arithmetical problems using cryptographic hash functions, the problem can be solved with high powered computers. As the value of bitcoin rises the number of people entering into the bitcoin mining is also increasing.Now a days many people are found investing on bitcoin mining rigs and farms like in China, America and so on for mining bitcoins as much as possible, and bitcoin mining warehouse are built in places where the electricity prices are too low, others also find alternative sources like installing solar panels, thermal energy and other sources to produce electricity where the countries electricity rates are unaffordable for mining.
Do we have alternative ways for mining bitcoins exept using farms or our computer?
Maybe some strange and illegal?)
Of course, not for usage - for knowledge
Maybe some strange and illegal?)
Of course, not for usage - for knowledge
the Bitcoin minning is a process of verification of Bitcoin transactions .
you can check this : https://fr.m.wikihow.com/miner-des-bitcoins
to help you ti know about Minning.
Yes mining is the verification of the bit coin transactions actually mining require a powerful CPU (Central Processing Unit) with a continuous supply of electricity although it is a profitable job but in those areas where electricity is cheap. you can check this : https://fr.m.wikihow.com/miner-des-bitcoins
to help you ti know about Minning.
the Bitcoin minning is a process of verification of Bitcoin transactions .
you can check this : https://fr.m.wikihow.com/miner-des-bitcoins
to help you ti know about Minning.
you can check this : https://fr.m.wikihow.com/miner-des-bitcoins
to help you ti know about Minning.
In simple terms - bitcoin miners ‘release’ bitcoins by solving blocks with the help of a computer equipment. Though it's really difficult to describe it in a few words. Maybe the article will be more helpful http://whatis.techtarget.com/definition/Bitcoin-mining
compensates today to make a mining rig to mine small crypto coins with a stake in its future valuation 
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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.
Also I would recommend you to watch this video, it's super informative and explained well!
https://www.youtube.com/watch?v=GmOzih6I1zs&t=2s
Also I would recommend you to watch this video, it's super informative and explained well!
https://www.youtube.com/watch?v=GmOzih6I1zs&t=2s
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.
I'm sure everyone here has a computer device and internet access. the simplest thing we can do, even if it does not make a lot of money. but this is a good start to getting to know mining. mining is essentially solving the block by using a computer device that we have. solving this block using complicated math solutions and the more coin hence the difficulty will increases.
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