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Topic: What is mining? (Read 414 times)

hero member
Activity: 658
Merit: 500
August 07, 2017, 07:47:52 AM
#6
Quote
Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. 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.
www.weusecoins.com/en/mining-guide/

Mining will give you reward for confirm new transaction and amount of reward depend on coin it self. Mining method have 2 Type, proof of work and proof of stake

Proof of work will need a hardware such as GPU, ASIC, or CPU. Low end hardware miner wont give you profit, profit calculated using cost of hardware, electricity, difficulty and coin price

Proof of stake not need hardware miner, usually you just need a PC and keep it online 24xHour x 30 days, so you will get a reward from staking. You can mine using low PC hardware for POS method. You need to select coin to stake and then keep it on your wallet online everyday

sr. member
Activity: 378
Merit: 258
August 04, 2017, 03:54:32 PM
#5
Actually i am new here everything seems very much complicative for me and i am totally unknown to the term of mining i know it is related to bitcoin that's it nothing else if anyone can explain what is it and how to deal with it ?

Mining is such good business that even no one can dream about it six jears ago. You produce virtual currencies that lots of peoples can use to move money from
one point to another instant around world. So we are making something very useful and very expensive in future...
legendary
Activity: 1526
Merit: 1000
August 04, 2017, 03:16:04 PM
#4
Quote
Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. 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.
www.weusecoins.com/en/mining-guide/

Mining will give you reward for confirm new transaction and amount of reward depend on coin it self. Mining method have 2 Type, proof of work and proof of stake
full member
Activity: 728
Merit: 101
August 04, 2017, 02:48:04 PM
#3
Bitcoin Mining is actually a mine activity using a particular device. The process through solving a series of mathematical problems (puzzles) based on certain difficulty levels. Well this activity is called "Mining" or cool term is "Bitcoin Mining
member
Activity: 118
Merit: 10
August 04, 2017, 11:11:52 AM
#2
Start your research here: https://en.bitcoin.it/wiki/Mining
member
Activity: 70
Merit: 11
August 04, 2017, 09:40:52 AM
#1
Actually i am new here everything seems very much complicative for me and i am totally unknown to the term of mining i know it is related to bitcoin that's it nothing else if anyone can explain what is it and how to deal with it ?
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