Mining Bitcoin

[Artugul78 91]

 Bitcoin mining certainly deserves a lot of benefits. You will benefit if you do bitcoin mining.  There are a lot of bitcoin prices right now, of course you will benefit because the price of bitcoin will increase more in the future.

[Maaz sultan 265]

Friend as the Bitcoin is the head of all the crypto currency then its nee higher power to mine and get profits and by the time the mining difficult of bitcoin is getting higher and higher and therefore crypto miner going to mine other crypto coins because of high returns and about bitcoin mining there are so high institutes that have setup the mining this currency more efficiently .

[Nila2020 393]

I don't know much about mine bitcoin, but it's a good coin. I'll try to learn more about this mining Bitcoin, so i can help you later.

[pablomarwan 3082]

This is valuable information. I added it to everyone. The miners had a profit of 200btc a while ago, meaning that he could get hundreds of homes by working one month in this field. It is high profit. But not everyone can work with them. Rather, these jobs have been given to the professionals. In addition to that, the mass calculation is not done by a person, but by high devices. And the best of these devices is crowned quantum computers.

[jappy 1129]

Mining btc is very profitable, it is something that you really get many benefits and it is good to say it, but your information is positive, everyone should know that mining btc will not be eternal and will have an end, and hey there when its value will be much higher.

[susan8929 811]

One of the features that I like most about Bitcoin is the mining, because I find it an innovative and useful way to obtain coins. 
Unfortunately I never got to try mining, because I don't have such a powerful computer to mine and it's necessary to have better equipment every time.
Although I have tried mining another kind of crypto, like Monero, Zcash, Dash and Doge. I have made profits, but personally I prefer other ways to make money in crypto.

[yulitzacalvete 1366]

On 10/2/2020 at 1:48 PM, Alaa1996 said:

What is Bitcoin mining? In short, the process of approving and recording operations on distributed records is called "prospecting." This guide will cover almost everything you need to know about mining Bitcoin.

Bitcoin mining helps support the decentralization of the network in terms of security and the creation of new Bitcoins.

Quite simply, it works like this:
- All the approved transactions are grouped into one block.
To obtain approval to add a new block to the Bitcoin blockchain, the computer must solve very complex cryptographic questions.
A computer that is able to solve the mystery first is rewarded by giving it a quantity of Bitcoin.
So, the logical answer to the question "Who is the Bitcoin miner", is the person who sits behind the computer and does the mining process. Bitcoin mining for interest has become one of the most common ways to get money.

Bitcoin mining can be profitable, as prospectors also get fees that people pay in exchange for agreeing to the operations they perform.

Once the puzzle is solved and the block is added to the blockchain, the prospector gets a reward of 12.5 BTC. This bonus decreases over time - halving every time the number of blocks mined reaches 210,000 blocks. Early prospectors could have obtained 50 BTC bonus on every block being mined, while this percentage will drop to 6.25 BTC by 2020. Mining for Bitcoin is not free, as you have to buy a mining rig and pay electricity bills, which may be expensive. You can calculate how much you might earn by using the Bitcoin calculator; There are several of them available on the Internet. You can also pay a company that has the necessary equipment to do mining for your benefit: to receive the Bitcoin mining service, you must sign a two-year contract under which you must pay for two-year mining services, and obtain coins periodically according to what was agreed upon in the contract

What many hope is that the mining of BTC ends, which already has a mining limit and which will cause BTC to greatly increase its value, so the ineria has helped a lot for btc to maintain its value and that each day it increases little by little Price.

[scofield64 943]

Thanks for sharing this information with us. We all know that bitcoin mining is a difficult task and its requires expensive equipment for it to be carried out. I don't have interest in bitcoin mining now because I'm still learning in crypto world.

[ShiNorton 906]

Mining devices facilitate mining operations by adding the list of transactions to the new block.Miners start to mine Bitcoin by confirming transactions & they receive rewards after successfully mining a block. I think block reward is approx 6.25 BTC after the third Bitcoin halving.

[Roan 2166]

This is true, my friend, that mining operations are difficult and require a very sophisticated computer to perform these operations and the algorithm

I hope to get this experience and knowledge one day and be confident in mining operations, this makes us get very large financial gains

Thank you for this useful information, my friend

[SuperCrypto 7193]

1 hour ago, Roan said:

This is true, my friend, that mining operations are difficult and require a very sophisticated computer to perform these operations and the algorithm

I hope to get this experience and knowledge one day and be confident in mining operations, this makes us get very large financial gains

Thank you for this useful information, my friend

I also have limited experience in mining, but I want to explain something to you, it does not require a complicated computer, mining needs a special mining device where it can generate a very high hash, the greater the hash that your machine generates, the greater your chances of decoding the required codes and you get in exchange for the currency That you are mining, in fact I do not find it very profitable, I do not advise you to waste time on this specifically if you do not have the ability to get a good mining machine.

[Kafon 0]

In the past ten years, mining was very easy, but now, with the rise of Bitcoin and the split in the block that happened in 2020, it has become somewhat difficult because it requires huge money to buy the hardware and pay electricity fees.

[zhoutong 2188]

The time when a person was sitting behind just a computer and mining Bitcoin is long over. The early miners that mined using CPU they made some from it and those that made the most are the miners that bought the Asic hardware and kept mining. The electricity cost sometimes is prohibiting and many stopped mining for this reason.

[Naseer Ahmad78 721]

Bit coin mining is also a business platform from which we can make profit, but the important thing for this is that you should have knowledge and experience and if you keep checking its price inside the market, if it is increased then it should be sold. If we get a little damage somewhere, then we should remain stable.

[cryptovlek 2597]

On 10/2/2020 at 8:48 PM, Alaa1996 said:

You can also pay a company that has the necessary equipment to do mining for your benefit: to receive the Bitcoin mining service, you must sign a two-year contract under which you must pay for two-year mining services, and obtain coins periodically according to what was agreed upon in the contract

This is cloud mining and not recommended unless there is a big mining company that offers these contracts. It can go very wrong and usually it does if uknown websites offer these contracts. Most of the cloud mining industry if not all is just a scam and nobody makes money from this.

[Fixfin 2569]

Since this post remained for so long, then perhaps there wasn't another explanatory article on bitcoin mining in the forum, anyway it has some information that looks to be taken from somewhere else and probably a copy paste or a translation of another source in the internet, as it is a post coming from at least a year ago, since it claims that in 2020 the Bitcoin halving is happening. So bad.

[Nupeboy 627]

Thank you so much for shading lights on mining bitcoin I have no much experience about it before but by reading this post of yours have gotten more knowledge about mining bitcoin

[basel23 1722]

You have made a great post about mining and this will help many new members understand all about mining.
As for me, I don't like working in mining because I find it very expensive and it takes a lot of equipment and energy

[yonkii 3205]

Maybe this article needs an update because the mining rewards were cut in 6.25BTC months before it was posted here, so it has outdated information. Mining is simple to understand, all miners follow the same rules and only in the beginning you could mine with a CPU. Bitcoin mining changed and became industrial, with pools sharing hashpower and bit companies mining using special hardware.

[Rozy 1918]

It is a good summary of Bitcoin mining, you have mentioned something about making a contract for two years, in fact I have searched for mining sites and none of them made such a condition, you can choose the period you want from a schedule they provide , starting from one month onwards. However, I am not a mining enthusiast, I think it is not the best way to earn form crypto currency, and honestly spending my time here at the forum is much better than mining.

[Quickbee 26]

Though the price of Bitcoin is rising, Bitcoin mining is not as profitable as it was earlier. With the halving of Bitcoin and the cost of infrastructure like good equipment and electricity cost, Mining is not profitable.

[Obliv0n 333]

It seems curious to me, that you say that you are going to define mining in a few words and write a will, mining can be summarized in a lot of hardware specialized in solving mathematical operations with the purpose of obtaining a profit for doing it, it is that simple, the problem of all this are the concepts related to mining

[percare 3192]

Mining is what keeps the network running. Miners use the hardware and electricity, which is both a cost for them, and they earn fees and new mined Bitcoin that is their profit. The higher the cost of electricity the less their profit, this is why mining is mostly done in countries with low electricity cost.

[Jack764 1841]

Mining was profitable in the beginning, but the percentage of profit decreases every day because of the extraction of larger quantities of Bitcoin. This is what made some people not work in this way 

[Whited35 15285]

Miners include the transactions into the block of size 1 MB in the Bitcoin blockchain network. Majority of miners should verify the transactions before including into the distributed database. Miners are getting paid in BTC once they complete adding the new block into Bitcoin blockchain. Nowadays, Bitcoin mining process is costly and competitive.