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Alaa1996

Mining Bitcoin

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 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.

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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 .

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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.

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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.

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Учитесь, учитесь и учитесь на своих ошибках :classic_smile:

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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.

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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.

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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.

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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.

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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.

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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

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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.

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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.

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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.

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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.

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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.

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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.

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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

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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


 

 

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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.

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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.

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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.

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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

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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.

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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 

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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. 


 

 

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Davis believes this impressive figure clearly indicates growing recognition of cryptocurrency and interest from institutional investors, especially from the US.   Strike CEO Jack Mallers predicts that during the ongoing bull rally, bitcoin could reach $250,000 and possibly rise in price to $1 million. On a podcast with Pomp Investments founder Anthony Pompliano, Mallers explained his bold forecast by stating that bitcoin is still at an early stage of development. According to him, the bond market is currently facing problems, so central banks may inject a significant amount of liquidity into the financial system to stabilize it. This liquidity influx will trigger an increase in the value of risky assets, including the leading cryptocurrency.   Jack Mallers disagrees with the notion that bitcoin is a bubble or a tool for speculation. The asset is becoming increasingly popular among financial giants on Wall Street, and its limited supply of 21 million coins makes BTC highly resistant to inflation, unlike fiat currencies and gold. "Bitcoin can be called the hardest form of money – thanks to the fixed issuance schedule and halvings every four years. The release rate of new coins gradually decreases, thereby increasing bitcoin's long-term value," argued the Strike CEO.   Analysts from financial investment company Motley Fool also target a six-figure number. They suggested that bitcoin's rate could rise to $400,000 and possibly even reach $1 million. The reason, which has been mentioned many times, is the influx of money from institutional investors through spot ETFs. Motley Fool analysts noted that more and more pension funds and hedge funds, managing multi-billion dollar sums, are entering the bitcoin market. Thanks to cryptocurrency ETFs, they can easily include bitcoin (and soon Ethereum) in their investment portfolios.   According to analysts, around 700 investment companies have already invested in such funds. Nevertheless, the share of institutional investors in bitcoin-ETFs is currently only about 10% of the total. Motley Fool estimates that if financial institutions invest about 5% of their assets in bitcoin, the market capitalization of the first cryptocurrency could exceed $7 trillion, which explains its forecasted rate of $400,000.   Considerably less optimism was heard in the forecast of Bloomberg senior analyst Mike McGlone. According to him, bitcoin's volatility leaves it trailing gold and the US dollar in investment appeal. Furthermore, he believes that stocks will soon crash amid the expected recession, but BTC will suffer even more than the stock market. McGlone emphasized that the Tether (USDT) stablecoin, pegged to the US dollar, typically trades twice as much per day as bitcoin. "I can access the US dollar anywhere in the world from my phone using Tether. Tether is the number one trading token. It's the number one cryptocurrency for trading. It's the dollar. The whole world has moved to the dollar. Why? Because it's the least bad of all fiat currencies," the Bloomberg expert stated.   While Mike McGlone merely downgraded bitcoin's attractiveness, Cardano founder Charles Hoskinson simply buried it. He equated bitcoin to a religion and stated that the industry has outgrown its dependence on it. According to Hoskinson, "the industry no longer needs bitcoin to survive." He pointed out critical threats to the leading cryptocurrency, including insufficient adaptability and dependence on the Proof-of-Work algorithm. Franklin Templeton analysts, on the contrary, consider L2 protocols, along with Ordinals, Runes, and DeFi primitives, as one of the main drivers of bitcoin's innovation revival. Strike CEO Jack Mallers defended the first cryptocurrency. According to him, the Lightning Network, created for instant and cheap transactions, a second-layer solution based on the BTC blockchain, can further increase the demand for the first cryptocurrency. Mallers believes that thanks to this, bitcoin can be used for everyday purchases, such as paying for a cup of coffee. Former BitMEX CEO Arthur Hayes called the native token of the Cardano blockchain (ADA) "dog shit" due to its low use in protocols.   As of the time of writing this review on the evening of Friday, 31 May, ADA is trading at 0.45 USD per coin, while bitcoin and Ethereum are faring significantly better: BTC/USD is trading at $67,600, and ETH/USD at $3,790. The total cryptocurrency market capitalization is $2.53 trillion ($2.55 trillion a week ago). The Bitcoin Fear & Greed Index remained almost unchanged over 7 days, staying in the Greed zone at 73 points (74 a week ago).   It should be noted that ETH/USD failed to break through the $4,000 resistance this past week. The local maximum was recorded on Monday, 27 May, at $3,974. The lack of an immediate pump is explained by the fact that everyone who wanted to buy Ethereum in anticipation of the SEC's historic decision already did so. Meanwhile, according to some analysts, there is a high probability that immediately after the launch of the long-awaited spot exchange funds, Ethereum will enter a deep drawdown, similar to what happened in January with bitcoin. Then, over 12 days, it fell by 21%.   One of the key reasons for BTC's drawdown at that time was the unlocking of GBTC fund assets from Grayscale, which was converted into a spot fund from a trust. It began losing investments daily at a rate of $500 million. It is possible that something similar could happen with Ethereum, where Grayscale's ETHE fund holds $11 billion worth of ETH. As soon as this fund is converted into a spot fund and its assets are unlocked, short-term investors might start taking profits, potentially causing ETH/USD to fall to the strong support zone of $2,900-3,200. Pessimists among bearish factors also cite the uncertain legal status of the altcoin, as the SEC has not yet clearly defined whether ETH is a commodity or a security. Additionally, the regulator has many complaints about the staking program.   Staking is a way to earn cryptocurrency by "locking" a certain amount of coins in a wallet on the Proof of Stake (PoS) algorithm to support the network. In return, the user receives rewards in the form of additional coins. According to Wall Street legend Peter Brandt, "the biggest disasters in the cryptocurrency sphere that are yet to happen will be related to staking." The expert noted that such assets as Ethereum are often rented out to earn such income, often in the form of interest, which strongly reminds him of collapsed financial pyramids. As staking becomes more widespread, Brandt warned, it could attract increased attention from central banks, treasuries, and other authorities. This could lead to tighter regulation, significantly altering the crypto space and potentially resulting in the cessation of staking and bankruptcies for those involved. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Даа, кроме нас на форуме остались рекламщики обменников и все). А у вас было монета not, он очень хорошо вырос. Надо было покупать сразу после листинга. Даа, упускаем моменты). Биткоин продолжает коррекцию делать, а я купил какие то щитки и вынужден ждать. 
    • Крупный банкир получил тюремный срок за криптомошенничество   Бывший инвестиционный банкир Рашон Рассел приговорён к 41 месяцу тюремного заключения за мошенничество с использованием цифровых активов. В результате расследования правоохранительные органы США выяснили, что обвиняемый начал опробовать свою мошенническую схему на друзьях, бывших одноклассниках и коллегах по работе в криптофонде R3 в ноябре 2020 года. Рассел обещал им гарантированную доходность инвестиций от 25% до 100%. Чтобы его слова были ещё убедительнее, он пустил в ход свой опыт инвестиционного банкира и сфабрикованные документы (поддельные счета, переводы). Сначала он использовал часть полученных обманным путём средств для выплаты долгов более ранним инвесторам. Остальные деньги Рассел тратил на азартные игры и поддержание роскошного образа жизни. Такая мошенническая схема работала до августа 2022 года. В апреле 2023 года Рашона Рассела арестовали, а в сентябре он признал свою вину. Тогда же выяснилось, что Рассел незаконно приобрёл около 100 кредитных и дебетовых банковских карт на имена других людей. По мнению следователей, он планировал использовать карты для проведения транзакций с полученными незаконным способом деньгами. Минюст США подсчитал, что потери инвесторов от мошеннической схемы Рассела составили $1,5 млн. Именно эту сумму подсудимый должен выплатить своим жертвам в качестве компенсации. Источник - https://ru.investing.com/news/cryptocurrency-news/article-2428894
    • CryptoRank поделился списком крупнейших разлоков июня.        Будьте осторожны в отмеченные дни, ведь увеличение предложения может вызвать давление со стороны продавцов. ARB — $105.21 млн;APT — $103.03 млн;UNI — $87.93 млн;STRK — $75.67 млн;DYDX — $66.3 млн;SEI — $63.81 млн;ID — $55.82 млн;IMX — $54.96 млн;MERL — $42.21 млн;ENS — $36.65 млн.  
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