What is the meaning of bitcoin mining?

[Crypto123 0]

Meaning of bitcoin mining

Mining is the process of adding transactions to the public record to past transactions, this professor of past transactions is called blockchain, a series of blocks, bitcoin designed to be resource-intensive and difficult so that the number of blocks found every day by miners remains constant, those individual blocks must contain Mining can be called solving complex mathematical equations by super computing computers, And miners are rewarded by Bitcoin currencies.The Bitcoin network changes the level of difficulty of mathematical equations, based on the speed of their solution.

Mining was in the past is powered by graphics cards, which can perform these operations faster, but they use large electric power, and then launched a new product to assist in the mining process, the first of these products is a chip known as ASIC or Application Specific Integrated Circuit designed specifically for Mining process, this segment accelerated the mining process with less energy consumption.

 

Reasons difficulty of mining now 
Bitcoin mining was initially very lucrative, but with the advent of Bitcoin and its search, the number of minerals for that currency increased, which made the number of Bitcoin seekers very large.We know that mining is a process of decoding and mathematical equations.It is also known that it will be Only 21 million bitcoins were created and then these currencies will be traded and no new currencies will be produced, all of which has made the mining process difficult now, but don't lose hope. Increasing mining on the currency will make its price rise, making the mining process profitable well, and don't forget. Technology has done a lot in all areas , Including cryptocurrencies of course, which has been discovered new ways in the process of mining cryptocurrencies increased the process of profit.

[DORANBU0818 56]

11 hours ago, Crypto123 said:

Meaning of bitcoin mining

Mining is the process of adding transactions to the public record to past transactions, this professor of past transactions is called blockchain, a series of blocks, bitcoin designed to be resource-intensive and difficult so that the number of blocks found every day by miners remains constant, those individual blocks must contain Mining can be called solving complex mathematical equations by super computing computers, And miners are rewarded by Bitcoin currencies.The Bitcoin network changes the level of difficulty of mathematical equations, based on the speed of their solution.

Mining was in the past is powered by graphics cards, which can perform these operations faster, but they use large electric power, and then launched a new product to assist in the mining process, the first of these products is a chip known as ASIC or Application Specific Integrated Circuit designed specifically for Mining process, this segment accelerated the mining process with less energy consumption.

 

Reasons difficulty of mining now 
Bitcoin mining was initially very lucrative, but with the advent of Bitcoin and its search, the number of minerals for that currency increased, which made the number of Bitcoin seekers very large.We know that mining is a process of decoding and mathematical equations.It is also known that it will be Only 21 million bitcoins were created and then these currencies will be traded and no new currencies will be produced, all of which has made the mining process difficult now, but don't lose hope. Increasing mining on the currency will make its price rise, making the mining process profitable well, and don't forget. Technology has done a lot in all areas , Including cryptocurrencies of course, which has been discovered new ways in the process of mining cryptocurrencies increased the process of profit.

Thank you very much for sharing this information to us about bitcoin mining. Now i know what bitcoin mining is and how does it works. A lot of thanks to you!

[Migo 7946]

Thanks for this definition, this is good and helpful informations, bitcoin mining in the current time is used by the capable people, as he is profitable he is expensive too, so if we can't handle him better to not enter this world 

[ultimateclub 392]

Ahem, seems that you have clarified the ABC of mining process clearly. So any one can engage in mining with their personal CPU without buying any mining machine. Those who are planning for mining they shouldn't take more time. Because the mining rewards are decreasing day by day.

[Crypto123 0]

10 hours ago, ultimateclub said:

Ahem, seems that you have clarified the ABC of mining process clearly. So any one can engage in mining with their personal CPU without buying any mining machine. Those who are planning for mining they shouldn't take more time. Because the mining rewards are decreasing day by day.

In theory, yes, anyone can do mining even using CPU, but in practice this matter is not currently possible because the difficulty of mining has reached very large numbers, mining using CPU is completely unprofitable and it causes great damage to the device.

[Akbor 1042]

Thank you so much for your information. as I know btc mining is a complex calculation which is done when any amount of btc transferred from one wallet to another wallet. I also know that btc mining will be ended in 2040.

[Crypto123 0]

13 hours ago, Lapai said:

Much thanks to you such a great amount for your data. as I probably am aware btc mining is a mind boggling count which is done when any measure of btc moved starting with one wallet then onto the next wallet.

you welcome, this is my duty and the duty of all members here to share useful information between them. The process you are talking about is not mining, it is a conversion or exchange process and it is completely different from mining.

[jerry9837 105]

On 12/2/2019 at 7:44 AM, Crypto123 said:

Meaning of bitcoin mining

Mining is the process of adding transactions to the public record to past transactions, this professor of past transactions is called blockchain, a series of blocks, bitcoin designed to be resource-intensive and difficult so that the number of blocks found every day by miners remains constant, those individual blocks must contain Mining can be called solving complex mathematical equations by super computing computers, And miners are rewarded by Bitcoin currencies.The Bitcoin network changes the level of difficulty of mathematical equations, based on the speed of their solution.

Mining was in the past is powered by graphics cards, which can perform these operations faster, but they use large electric power, and then launched a new product to assist in the mining process, the first of these products is a chip known as ASIC or Application Specific Integrated Circuit designed specifically for Mining process, this segment accelerated the mining process with less energy consumption.

 

Reasons difficulty of mining now 
Bitcoin mining was initially very lucrative, but with the advent of Bitcoin and its search, the number of minerals for that currency increased, which made the number of Bitcoin seekers very large.We know that mining is a process of decoding and mathematical equations.It is also known that it will be Only 21 million bitcoins were created and then these currencies will be traded and no new currencies will be produced, all of which has made the mining process difficult now, but don't lose hope. Increasing mining on the currency will make its price rise, making the mining process profitable well, and don't forget. Technology has done a lot in all areas , Including cryptocurrencies of course, which has been discovered new ways in the process of mining cryptocurrencies increased the process of profit.

Thanks for the descriptionits really helpful to learn about mining usually i dont trust on any cryptocurrency minning platforms because they are full of scams but we can mine by contacting some legit brokers who can really help 

[febriyana 934]

Mining Bitcoin is the chance for everyone to help Blockchain process the transaction. That process is named with mining because if the block can solved, blockchain will give you Bitcoin as reward. For now the reward is around 12.5 Bitcoin per block. To mining Bitcoin you need miner hardware like ASIC miner or GPU who can run for SHA-256. If you use CPU that will take you forever time to solve the block.

[Crypto123 0]

4 hours ago, febriyana said:

Mining Bitcoin is the chance for everyone to help Blockchain process the transaction. That process is named with mining because if the block can solved, blockchain will give you Bitcoin as reward. For now the reward is around 12.5 Bitcoin per block. To mining Bitcoin you need miner hardware like ASIC miner or GPU who can run for SHA-256. If you use CPU that will take you forever time to solve the block.

Thanks for this constructive contribution and good information, indeed what you mentioned is true, especially for bitcoin mining using ASIC miners and as for the CPU it can stay forever without solving a single block. Although the first block was mined using a CPU.

[Crypto123 0]

6 hours ago, Man said:

With the current conditions I think it is very difficult to get profits from mining Bitcoin. I don't know right now whether there are still those who are mining bitcoin that actually use some sort of RIG. So that the results obtained are faster by other mining methods.

Yes, right. Bitcoin mining has become extremely difficult and profits are low unless you have very strong mining devices. Currently the most lucrative way is ASICs Miner devices. But after the Bitcoin liquidation that will happen soon, these profits will decrease as well.

[Ali Haider 10]

Thanks for sharing such a useful information..what you tell is 100 percent right I agreed with you.so many people now in the world are earning through bitcoin mining.i will also want to mine one day

[Crypto123 0]

6 hours ago, Man said:

I just found out about this kind of device ASIC's Miner. If it can still be profitable, then keep mining using this device. But if the calculations are still not getting profit, then I suggest pausing for a moment.

These devices are not new and are constantly updated and there are generations of these devices. Modern devices work efficiently and are profitable, but devices that have become somewhat outdated unless they provide sufficient profits.

[sdsonjoy50 886]

14 hours ago, Goodtime said:

it is mainly done by amalgamation mining amalgamate and mining hardwares.it is costly although.In return, they are awarded a particular numeral of Bitcoins per block.
 

Yes you are right, Bitcoin mining costs a lot of money, but there is a good amount of income I can earn from many people, including my friends.

[bliznec 22267]

Bitcoin hash rate is growing very rapidly and many ASIC manufacturers are updating their software. It is very pleasing that there are miners in the crypto market for mining bitcoin. 

[hassanmnr 114]

Web definitions: A decentralised digital currency created in 2009; A client for the above currency.
 

[Luciferludz 1442]

Bitcoin mining is the process to collect blocks and allow all blockchain bitcoin transactions that's have been maded buy the bitcoin users so you take their withdraw fees for allowing their transactions to be processed faster 

[Crypto123 0]

On 12/28/2019 at 2:27 PM, Luciferludz said:

Bitcoin mining is the process to collect blocks and allow all blockchain bitcoin transactions that's have been maded buy the bitcoin users so you take their withdraw fees for allowing their transactions to be processed faster 

Thank you for the good answer, and the good explanation. In fact, there are a lot of responses on this topic, but unfortunately most of them do not contribute to the issue constructively, but you your response was good and constructive.

[jacker 1095]

Thanks for your very helpful sharing, I have been more knowledgeable. mining for me is simply profitable for me. I am currently doing this.

[Suhannewaz 245]

Bitcoin mining is the digital currency system processing of transaction, where current Bitcoin, known as blocks, are included in the block chain records of past transactions.

[khaler 1549]

Thanks for this definition, this is good and helpful informations, bitcoin mining in the current time is used by the capable people

[Hatred 1388]

On 12/2/2019 at 10:14 AM, Crypto123 said:

Meaning of bitcoin mining

Mining is the process of adding transactions to the public record to past transactions, this professor of past transactions is called blockchain, a series of blocks, bitcoin designed to be resource-intensive and difficult so that the number of blocks found every day by miners remains constant, those individual blocks must contain Mining can be called solving complex mathematical equations by super computing computers, And miners are rewarded by Bitcoin currencies.The Bitcoin network changes the level of difficulty of mathematical equations, based on the speed of their solution.

Mining was in the past is powered by graphics cards, which can perform these operations faster, but they use large electric power, and then launched a new product to assist in the mining process, the first of these products is a chip known as ASIC or Application Specific Integrated Circuit designed specifically for Mining process, this segment accelerated the mining process with less energy consumption.

 

Reasons difficulty of mining now 
Bitcoin mining was initially very lucrative, but with the advent of Bitcoin and its search, the number of minerals for that currency increased, which made the number of Bitcoin seekers very large.We know that mining is a process of decoding and mathematical equations.It is also known that it will be Only 21 million bitcoins were created and then these currencies will be traded and no new currencies will be produced, all of which has made the mining process difficult now, but don't lose hope. Increasing mining on the currency will make its price rise, making the mining process profitable well, and don't forget. Technology has done a lot in all areas , Including cryptocurrencies of course, which has been discovered new ways in the process of mining cryptocurrencies increased the process of profit.

Well, your right on the reason why it's difficult to mine. It always requires high end pc to mine smoothly. And that's difficult to buy if you are just a low class miner that only uses low end or not compatible mining devices.

[Crypto123 0]

On 1/18/2020 at 4:10 PM, Hami13 said:

Thanks for your time a great deal designed for writing this post to help you usa around bitcoin exploration. At present actually, i know everything that bitcoin exploration is without a doubt and even how exactly does the application runs. A whole lot of caused by one!

Thank you, this is kindness from you, I try as much as possible to write short and useful information so that everyone can benefit, and I hope everyone contributes to improving the level of the forum by writing useful topics.

[Crypto123 0]

1 hour ago, Pinky55 said:

In this process a transaction get verified let me explain this .. when you send bitcoin to your friend then it come to a miner who will verify that this is authentic and sending to right address or not and then finally sent to the address

Yes, it is true, but not just to verify that the address is correct, but also to register the transaction in the Bitcoin blockchain. Because all Bitcoin transactions must be registered in the blockchain. It is an open ledger for everyone.

[Crypto123 0]

On 1/23/2020 at 10:17 AM, Crypto Bull said:

That's what i understand mining is bitcoin.People use their computers and Reg machine  to solve math problems that everyone who uses bitcoin needs solved. As a reward, the first person to solve the problem gets some bitcoins of their own. Some people get into big groups and promise to share the reward if they find it.

It is not the first one to dissolve it, but all miners in the basin disband the block and get a reward each one according to his own Hash Power, your words could be correct in the case of Solo mining. Tank you.