What is the meaning of bitcoin mining?

[Zaino34 0]

Thank you for viewing this information. This will be really useful for the rest of the members so that they learn how mining is done because it is profitable and can be gained through it, but we need to secure good devices and electrical energy for mining in addition to knowing how to mining.

[Saj555 2250]

I also do bitcoin mining. Butcoin mine means the algorithm to the passage to mine bitcoins to save it from becoming dusts. That ledger is called bitcoin mining for that. Bitcoins mining is very interesting. 

[Crypto123 0]

7 minutes ago, Km.Limon123 said:

Bitcoin mining means a process to assist everyone in the trading process, which is named after the mining process, because if the block is resolved, blockchain will give you bitcoin as a reward, which is a very good aspect.

Yes, when one Bitcoin block is found, the bonus is distributed to all the miners who contributed to the block, this bonus is currently 12.5 BTC and will decrease after the next Halving to 6.25 BTC.

[Zahid12 0]

Thank you so much for sharing this important theory with us. You need more Bitcoin to dig here. You can easily change your financial position by making more money in a short amount of time by digging here.

[Crypto123 0]

On 3/3/2020 at 7:39 PM, rounack said:

there are many transactions in crypto happened every second.so to verify each and every transaction,also helps to make transactions smooth.mining is a great way to solve this issue.lots of people mine crypto everytime to get a bounty after doing a successful transaction

Yes, true, mining means finding new blocks, just as logging transactions on the Bitcoin blockchain. There are many miners doing this work and they get paid for this work and this is called mining.

[Crypto123 0]

3 hours ago, fogkoasz said:

Its the process to make the network more safer agains't the hackers that try to 51% attack bitcoin and reorg the blockchain in a ilegal way.

Well this is not exactly the meaning of mining, but let's say it is one of the tasks of mining and miners and is to maintain network security against a 51% attack. Anyway, thank you for pointing out this important point.

[Crypto123 0]

8 hours ago, playboii said:

Bitcoin mining is the processing of transactions in the digital currency system, in which the records of current Bitcoin transactions, known as a blocks, are added to the record of past transactions, known as the block chain.

Thank you very much, my dear friend, this is the best definition of mining I hear so far in all the responses that came. No one has ever talked about blockchain and block chain which is really the true foundation for mining. So you deserve my thanks and like.

[magd 5231]

Your topic answered many questions about the mining mechanism. What are the operations that take place? There are many people who do not know that this process is closely related to mathematics. Thank you for mentioning the reasons for the difficulty of mining.

[Crypto123 0]

7 hours ago, king khan87 said:

You are welcome, I did not do more than my homework in the forum, and we are here to learn and teach others. Yes mining is much safer and even if there are some scam sites you can turn off the mining device and move to any other site. No problem at all.

I do not see that you are doing your homework well, if it had been so, I did not copy and paste my words here in the response and claim that they are your words, this is a defect and contrary to the rules of the forum. Please take care and write well.

[Crypto123 0]

9 hours ago, Peter Urban said:

It is only for making blockchain safer. It is used much more electric energy for mining and many people think, that when they will mine crypto on thier computer it will make milionaire from them.

Of course this is a joke, I mean bitcoin mining by computer is just a joke at the present time this was possible at the beginning of the invention of bitcoin as mining was done by a regular computer using only the processor but today this is completely impossible.

[Brushless4500KV 4214]

Bitcoin and all crypto coins are about anonymity but is there any way to contact the miners who have confirmed a transaction? How can you know which miner (or miners) added your transaction to a new block? Sometimes transactions may reverse or remain unconfirmed on the network without proceeding. In these cases there is no one you can ask about the reasons why your transactions have not yet been processed. This is where the importance of contacting miners will become prominent. Is it possible to communicate with them? If anyone knows about it, please explain it.

[Ayush Singh 1175]

As we all know that mining of Bitcoin refers a free earning of Bitcoins which is well explained in the above post also the criteria of mining as we also know that there are some difficulties which are faced by the users while mining of Bitcoin it depends upon the sites from which you are mining it.

[harzallah 161]

the meaning of mining bitcoin is not the mine that you think let me tell you it mean solve hard math problems as reward you take bitcoin but must have a good electrisity

[Calvinpriva 17296]

Mining process is very good and we can earn bigger profit from it, but the problem is those sites which are giving this services, most of them are very fake and they just steal our money. Its very hard to find a legit mining site.

[Crypto123 0]

On 3/22/2020 at 5:39 PM, Brushless4500KV said:

Bitcoin and all crypto coins are about anonymity but is there any way to contact the miners who have confirmed a transaction? How can you know which miner (or miners) added your transaction to a new block? Sometimes transactions may reverse or remain unconfirmed on the network without proceeding. In these cases there is no one you can ask about the reasons why your transactions have not yet been processed. This is where the importance of contacting miners will become prominent. Is it possible to communicate with them? If anyone knows about it, please explain it.

Hello my dear friend, I like your questions very much, you are always looking for difficult and very useful questions, for your question about knowing the miners who are doing the transactions in the Bitcoin network the answer is: No, it is not possible to know the identity of the workers because this is an unknown network as You said, but in the event of delaying the transaction or "remain unconfirmed on the network without proceeding" , there is a way to solve the problem, and I explained it in a previous topic that can be found here:

 

[Brand1 1336]

Thank you for this explanation, my friend. Your participation will be important to all members who do not know what is the meaning of mining because everything has become clear through this post. You must continue to provide useful posts to all members of this forum.

[Crypto123 0]

6 hours ago, Brand1 said:

Thank you for this explanation, my friend. Your participation will be important to all members who do not know what is the meaning of mining because everything has become clear through this post. You must continue to provide useful posts to all members of this forum.

This is what I do my friend, I am glad that members find my posts useful to them, I always work to provide useful information and I also want to take advantage of other members' posts. This way we all contribute to improving the forum.

[bitcoinb 1359]

On 12/2/2019 at 10:58 AM, Goodcoin said:

Bitcoin mining is the process in which blockchain ledger is updated. And bitcoin is awarded for solving the calculation for the ledger update. About 12.5 bitcoin is the reward.

After the halving that will happen in May, the block revwards will decrease by 50% and the reward for a block validation will be 6 BTC...

[Crypto123 0]

On 3/26/2020 at 10:56 AM, Ngetpa said:

Thank you for this informations. People who want to start the mining would able to know what it is all about. They are aware about its difficulties and might as well master those.

Yes, it is very necessary for everyone who wants to work in mining to have a lot of information about the mining method, difficulties and costs, and what are the things that affect mining, bonuses and other necessary things.

[iloveyobit 6599]

Thank you for the detailed topic regarding mining. Mining is a complex and never easy process, besides it requires specific mining equipment and the better it is, the more you earn.

[Crypto123 0]

On 4/2/2020 at 5:08 PM, iloveyobit said:

Thank you for the detailed topic regarding mining. Mining is a complex and never easy process, besides it requires specific mining equipment and the better it is, the more you earn.

Yes mining is a complicated process, but you do not have to understand everything about mining to do mining it is enough to know some of the necessary things to do mining and you can start mining and there are sites that provide you with mining automatically without the need to make any settings.

[Crypto123 0]

7 hours ago, mahinurakash said:

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.What you are telling this is100 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.

 

Your words are true, theoretically any computer can do mining through the processor, but that would be just a waste of time, especially for bitcoin mining because the difficulty of mining has reached very large numbers and therefore will not be able to get anything.

[iloveyobit 6599]

19 hours ago, Crypto123 said:

Yes mining is a complicated process, but you do not have to understand everything about mining to do mining it is enough to know some of the necessary things to do mining and you can start mining and there are sites that provide you with mining automatically without the need to make any settings.

Yes, you are right. As for me, I never cared about mining when I heard that he needed expensive equipment. He also consumes electricity, but the profit is not so much profit at all.

[Crypto123 0]

On 4/7/2020 at 4:44 PM, iloveyobit said:

Yes, you are right. As for me, I never cared about mining when I heard that he needed expensive equipment. He also consumes electricity, but the profit is not so much profit at all.

Yes, true, there are many difficulties that keep people away from mining, the most important of which is the high costs of equipment and the high cost of electricity consumption, and after all that comes the drop in Coins Prices that made mining seem an extremely unprofitable process.

[iloveyobit 6599]

3 hours ago, Crypto123 said:

Yes, true, there are many difficulties that keep people away from mining, the most important of which is the high costs of equipment and the high cost of electricity consumption, and after all that comes the drop in Coins Prices that made mining seem an extremely unprofitable process.

Yes, there are those who practice mining because he loves him as a hobby and not as work. For me, I also love him, but conditions did not allow me to work on it and I was satisfied with trading.