https://www.youtube.com/watch?v=1GP9fSAqBIM
Topic: What is btc mining? - page 2. (Read 2364 times)
I want to know the whole proccess by which we can earn through mining.what happens in mining?
When you mine Bitcoins, you are securing the network by confirming transaction. Such process is made by an ASIC miner (look it on ebay) and depending on your hashrate (KH/s, MH/s, GH/s, TH/s), network difficulty, and electricity costs, that will determine what you will earn. For more info, i'd suggest you look into these sites: http://www.pcadvisor.co.uk/how-to/internet/how-mine-bitcoins-generate-money-bitcoin-mining-3515249/ http://www.coindesk.com/information/how-bitcoin-mining-works/
Hope this helps. Somebody correct this, if I'm wrong.
You've mostly gotten it right. Mining is a computational process that secures the network, with coins being minted to act as a reward for securing the network. Specialized mining devices called ASICs are the only way to mine now (aside from as an academic curiosity, for different types of coins that don't have ASICs yet, and on private testing nets), and even they have very slim profit margins (due to cost of electricity and the miners themselves).
I want to know the whole proccess by which we can earn through mining.what happens in mining?
i would recommend documentary rise and rise of bitcoin on youtube or somewhere elsethere is beggining of mining described in real life situation
great movie, have fun 
I want to know the whole proccess by which we can earn through mining.what happens in mining?
Mining is just popular name for "Transaction processing".
IMO it's linked to reward earned for each block and we will stop using this name after all bitcoins will be mined-out ... when the only reward for miners will be tx fee.
Actually mining was a good thing for everyone years ago. Today you will not earn much mining Bitcoins if you have only a simple computer.
Try to join a mining pool otherwise try to focus on mining altcoins.
Mining is done with an ASIC, a single computer can't do anything. Mining pool doesn't change anything. Alt coins are highly competitive as most Bitcoin miners gave up on Bitcoin and some turned it into an alt coin rig. If you're mining on a lesser known coin, it would still be risky. Try to join a mining pool otherwise try to focus on mining altcoins.
Actually mining was a good thing for everyone years ago. Today you will not earn much mining Bitcoins if you have only a simple computer.
Try to join a mining pool otherwise try to focus on mining altcoins.
Try to join a mining pool otherwise try to focus on mining altcoins.
Have you considered reading posts in the Mining board of this forum?
Here's the link -> https://bitcointalk.org/index.php?board=14.0
There's a lot to be learned on this forum - read, learn, contribute.
Welcome!
Here's the link -> https://bitcointalk.org/index.php?board=14.0
There's a lot to be learned on this forum - read, learn, contribute.
Welcome!
When transactions are first broadcast, they stays in the mempool till a miner decides to include them into a block. Mining is basically described as a process to add transactions into the blockchain and helps in the distribution of the coins to ensure that the market cap is unchanged. Miners first have to assemble transactions, usually from highest fee/kb to lowest fee/kb and the coinbase transaction in an order to calculate the merkle root. Rest of the block header is then populated with other data and the miner begins to hash the block. It hashes the block repeatedly with nonce incremement after each try till the hash is below the target. The miner then broadcast it to the network. Other miners will then calculate another set of merkle root and change the block header.
This is an effective way of preventing double spending with majority of honest miners.
Mining started from the CPU that you find in your computer to high end GPUs in the gaming rigs. Nowadays, they are no longer profitable for Bitcoin and ASICs are used for mining them. Even so, small time home miners aren't profiting from these. People are using big warehouse populated with ASICs to generate profits.
This is an effective way of preventing double spending with majority of honest miners.
Mining started from the CPU that you find in your computer to high end GPUs in the gaming rigs. Nowadays, they are no longer profitable for Bitcoin and ASICs are used for mining them. Even so, small time home miners aren't profiting from these. People are using big warehouse populated with ASICs to generate profits.
it's like digging gold, but you do it with specific machine called asic(in the past was possible with gpu) and with mathematical process they try to find the block before the other if in solo
or they partecipate together to find the block and divide it based on their hashpower
or they partecipate together to find the block and divide it based on their hashpower
I want to know the whole proccess by which we can earn through mining.what happens in mining?
When you mine Bitcoins, you are securing the network by confirming transaction. Such process is made by an ASIC miner (look it on ebay) and depending on your hashrate (KH/s, MH/s, GH/s, TH/s), network difficulty, and electricity costs, that will determine what you will earn. For more info, i'd suggest you look into these sites: http://www.pcadvisor.co.uk/how-to/internet/how-mine-bitcoins-generate-money-bitcoin-mining-3515249/ http://www.coindesk.com/information/how-bitcoin-mining-works/
Hope this helps. Somebody correct this, if I'm wrong.
You've mostly gotten it right. Mining is a computational process that secures the network, with coins being minted to act as a reward for securing the network. Specialized mining devices called ASICs are the only way to mine now (aside from as an academic curiosity, for different types of coins that don't have ASICs yet, and on private testing nets), and even they have very slim profit margins (due to cost of electricity and the miners themselves).
I want to know the whole proccess by which we can earn through mining.what happens in mining?
When you mine Bitcoins, you are securing the network by confirming transaction. Such process is made by an ASIC miner (look it on ebay) and depending on your hashrate (KH/s, MH/s, GH/s, TH/s), network difficulty, and electricity costs, that will determine what you will earn. For more info, i'd suggest you look into these sites: http://www.pcadvisor.co.uk/how-to/internet/how-mine-bitcoins-generate-money-bitcoin-mining-3515249/ http://www.coindesk.com/information/how-bitcoin-mining-works/
Hope this helps. Somebody correct this, if I'm wrong.
I want to know the whole proccess by which we can earn through mining.what happens in mining?
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