mining What you have to know about mining

[Babubu609 0]

 

As I said earlier from my previous posts on gambling that I will be coming up with a new topic on mining.

 

Mining: is reffered to a process were all cryptocurrencies transactions are verified and mined to the blockchain.

 

Whenever a cryptocurrency transaction is made on the blockchain, a cryptocurrency miner is responsible for ensuring a Successful transactions . In mining itself has a wide range which also involves competing with other cryptominers to find solution to mathematical problems with hash functions that was associated with a blockchain which contains the almost all the transaction datas.

 

Almost all cryptominers regarding the size of your mining machine they earn small amounts of cryptocurrency of their own after each Successful transactions. Therefore it was difficult for the miners to be competitive with other cryptominers. Note to do mining you need a p.c/ mining computer that is specialized mining. All the way we have a visual mining you can practice on yobit exchange for the contest via the pinned post in green to be among the winners of 10 btc.

You need to get this friends. When going into mining you may experience some Expenses like electricity, internet connection, and also computing hardware that also have great impact to the net revenue generated by cryptocurrency mining machine 24/7 electricity is needed to keep mining.

 

To start mining as a cryptocurrency miner some of this conditions need to be observed/satisfied :

 

1. You most need a computer hardware with a specialized graphical processing unit (GPU). Having this satisfied will help you in your mining

 

 2. You most also need specific integrated circuit (ASIC) should be satisfied.

 

3. sufficient cooling facility should be included.

 

 4. Make sure your mining internet c

Is connected 24/7 to avoid interruption.

 

5. Also try to have alegitimate cryptocurrency mining software package 

 

6. Always be on both in online cryptocurrency exchange as well as in online mining pool.

                                                                           

 

If you are able to get this much satisfied then you will not have problem in your mining. You will always have some earnings on daily transactions depending on numbers of Transactions you made on the block. I have said it before each fee/tax charge from you during transactions goes directly to the Miners wallet. Without the help of miners transactions will take longs and not easily processed. 

As the number if cryptocurrency users are increasing substantially many countries are coming in to cryptoworld there was a lot competitors.

This is the little you knowledge I can share with you about mining.

 

You can also share us some of your knowledge so that we can also learn from you because this forum is just a family that get us together....

 

Thank you all for your responses 🙏

 

 

Edited September 30, 2020 by Babubu609

[Ndayebo8 0]

@Babubu609 you are always good! this post is so unique for all members of both genders. All users in the cryptoworld will have learn something about the name mining but haven't try to learn how it works. I have know about mining and your definition is correct I will like everyone to read from this topic. 

[Maaz sultan 265]

About crypto mining i must says that this is a very big business of crypto currencies in crypto world you can easily start mining and when the first time setup is done you dont need any work go to your job or enjoy while your miner work for you to making crypto coin .

[George10 9932]

Well articulated mate all the attributes goes to the post publisher none other than @Babubu609 you are the best friend, I enjoyed and learnt something from the topic you shared about mining and I'm going to go for virtual mining at yobit exchange once I accumulate enough capital but I fear the price for miners could go higher by then as the minex token seems to rise fast,I don't want to miss this great opportunity.

[Babubu609 0]

11 minutes ago, George10 said:

virtual mining at yobit exchange once I accumulate enough capital but I fear the price for miners could go higher by then as the minex token seems to rise fast,I don't want to miss this great opportunity

I am planing for that too but my fearness about this competition I don't think I will be among the winners since random selection will be done regarding to numbers of screenshot you submitted per day interested to the contest topic that is why I pertake going for topic contest maybe I will make something over there but the payments is too low that is why many people don't wanna participate inthe article writing because it is not an easy task spending time making research and creating topics for a month.

[George10 9932]

3 minutes ago, Babubu609 said:

18 minutes ago, George10 said:

 

I am planing for that too but my fearness about this competition I don't think I will be among the winners since random selection will be done regarding to numbers of screenshot you submitted per day interested to the contest topic that is why I pertake going for topic contest maybe I will make something over there but the payments is too low that is why many people don't wanna participate inthe article writing because it is not an easy task spending time making research and creating topics for a month.

You are right mate if you have not yet bought any miner too,it's late to participate in the 10btc contest going on because a lot of members are dropping their screen shots there on daily basis. And on the topic writing contest I know you will win something mate and I'm also hopping to be among the winners even if it is the lowest price offer it will make a different.

[Cryptic 0]

You need also to considered your electricity bill since mining rig would consumed a lot of energy as it needs a high power to solve a complex problem. It is not advisable to build a mining rig if in your country the bill of electricity was high because you wouldn't make a profit to do so. 

[Flying11Horse 45]

9 hours ago, Babubu609 said:

You can also share us some of your knowledge so that we can also learn from you because this forum is just a family that get us together....

Thanks for giving us some main information about crypto mining.I have heard from my friend that mining cryptocurrency by your PC or mobile requires a very expensive hardware.The more advanced the hardware the more faster will be the mining.I once started mining in my laptop but the pressure of mining to the GPU of my laptop was so heavy that my laptop hanged for about 10 minutes.

So i want to ask you @Babubu609 that can we start our own virtual mining using a software that doesn't hangs or slows down my pc.

[Digital 387]

@Babubu609 Honestly you are someone who always shares benefit to the people though I knew little about mining in crypto currency but you have shared much light in the air you mention many things I don't know thanks for that have a nice day.

[Jaafar Fahad Hassan 114]

This post is just so unique ,even a lecture in a school wouldn't explain in details the way you always do about your post, as I always say, they are very educative and well placed for both the newbies and old members to comprehend

[Babubu609 0]

6 hours ago, George10 said:

I know you will win something mate and I'm also hopping to be among the winners even if it is the lowest price offer it will make a different

Well I hope same but I don't think I will be the first since we have the 🇷🇺 section that are also participating in same contest I hope to be among the first 5 and I hope the same to you as well.

3 hours ago, eliottalderosn said:

Hope I made it a little bit more clear!

Thank you you are a good member because you always give some experience about what you have in term of knowledge. Friends like you are scarce and are needed by many members too. You are welcome to cryptotalk.

[Ebwa 6]

Mining it is a process where cryptocurrency undergo before it is be mined block chain for effective utilization and usage and it also enable the proper handling of the forum.

[Mosab73 333]

This is a great topic because I always heard about mining, but this word was well understood to me, but after a good explanation of the stages of mining, the concept of mining has become a lot closer to my mind and I hope one day to start the amendment, but after the electricity in my area becomes continuous 24/7, thank you  My friend

[Mehar446 280]

Yes everyonemust be familiar with the mining beacuse it is the founding member of crypto family. But remember mining is not the future of the crypto as the world is heading towards POS. It is beacuse mining is not ecosystem friendly.

[Izeal 4404]

You can even do cloud mining where you have to buy their plan according to your need from basic to professional and they will mine for you and pay you after certain time. Bmining is very trusted cloud mining site there are many sites but be careful before investing in cloud mining. Best of luck happy earning.

 

[Mella 3680]

I ma had not a clue about the mining and you are now made me open my eyes about how this is happening. I am understood it has a lot of cost and it is not for everybody but only for the people that can have very low cost of electrical. This is not for me then because of high cost we are have here, but there are many countries that can find very low and unlimit electricity, that I am reading some are China and Iran and these are all into mining Bitcoin.

[Onur0808 10]

Do yo know Pi network.phone mining.what do you think about Pi? 

[Jaafar Fahad Hassan 114]

15 hours ago, meiitarestu said:

yes it is true we in this forum really need posts like this that educate and explain in detail so that beginners like me can understand the intent and purpose of the post, thanks for the post, so I can understand more deeply about bitcoin mining

I follow him and I see all the important things he post, try follow well experience people in this forum, as a beginner ,you find it easy with them because all their post are very easy to understand

[Syedbesharat 5423]

It's fabulous content which covered all the noch of the topic, I have read many topic but I am very pleased with the content. Where words are simple and easy to simplifying. nor use of thick and complicated words and phrases to built up the content intensity, neat and clean which gives read no second though read automatically understand where the next heading and don't forget the past content. Thus kind of  content is highly needed for forum growth which helps the members and develop the members knowledge of crypto currency. 

[Jaafar Fahad Hassan 114]

21 hours ago, meiitarestu said:

yes it is true we in this forum really need posts like this that educate and explain in detail so that beginners like me can understand the intent and purpose of the post, thanks for the post, so I can understand more deeply about bitcoin mining

I think you should try following senior members like the guy that posted this post, am also a beginner,I follow him so through that I get to see all his educative post and post that will make the forum more easy to operate.

21 hours ago, meiitarestu said:

 

 

Edited October 2, 2020 by Jaafar Fahad Hassan

[candyguyyy 43]

Hi  Can you please suggest  5 -  6 coins much profitable ones to mine ? thanks

[gourav789 2834]

@George10 obviously mate , I also think that many user still didn't participate in yobit virtual mining ( including me also ) . this is really a great opportunity for Eveyone because their is higher chance to get win something in this contest . 

[Jose Plma 2]

When you are going to mine a kryptonet you are required to know:
- That you must use a desktop computer with high system requirements. 
- Use GPU equipment.
- Know which wallet to store the mined coins in.
- What type of algorithm the coin to be mined works with.
- What time is allowed to find the blocks.
- How much energy will you consume in the mining tasks and how much will this energy consumption cost you.

[gourav789 2834]

@Babubu609 well informative topic , I know about mining because one of my colleagues friend have mining equipment . but I believe that mining is really a expensive method to make a Good profit . firstly we have Good money to Invest after all we are elligible to make a profit from it .

[George10 9932]

2 hours ago, gourav789 said:

. this is really a great opportunity for Eveyone because their is higher chance to get win something in this contest . 

Yes this is a great opportunity that yobit exchange has for us in partnership with this forum for advertisements of it's services or offers,I think you can still take part in the cryptotalk theme contest for best post writers and win something there.