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What is the meaning of bitcoin mining?

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6 hours ago, memorie said:

Anyone can do mining even using the CPU, but in practice this is currently not possible due to the difficulty of mining has reached a very large number, mining using a really unprofitable CPU

Quite rightly in theory any person can do the mining using the CPU but in practice you will not get any profit as it can cause damage to the device due to the consumption of the entire processor power. This was available in the past at the beginning of Bitcoin, but now it is impossible.

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7 hours ago, UT2001 said:

mining operations is also what secures the network against any threats and processes all transactions accordingly. mining is basically what allows the money to come out of the atm machine that we just inserted out cards into if we want to make a real world scenario out of this one. Without the miners securing the blockchain the money would never go out and it would also never be able to send anything into the machine either as the block chain would be at a stand still. Mining is basically the bank tellers in the very old world as well, the ones nicely dressed behind the counter and always smiling at you. I remember those days vividly.

Your comment is very beautiful and I liked it, but there is a point that I would like to point out, which is that it is not the miners who secure the bitcoin network but rather the masternodes and the miners whose job is to find new blocks of bitcoin and confirm the transactions of bitcoin in the network and of course they keep continuation of the work in the network in network with the masternode.

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7 hours ago, Rofiq Mahadi said:

Bitcoin mining means you mine Bitcoin. For mining cryptocurrency you need to build a supercomputer. You have to invest a lot of money to build at supercomputer. The configuration will be high. You also niche faster internet connection for mining cryptocurrency.

These are the things you need to start bitcoin mining, but my question is what is mining basically, you mean how do you get bitcoin coin through mining? What do computers or mining devices do to get Bitcoin?

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14 minutes ago, Emon1111 said:

It is a very necessary information for us. Thank you for sharing this important information with us. I think bitcoin mining is the best mining. By this mining one can easily earn money.

Please write useful things and do not repeat the words of others only, this is copy and paste and this is contrary to the rules of the forum, you have to pay attention to yourself and write useful things before you get a warning point or you are banned from the forum.

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Thanks for the useful information you give me. for me the simple meaning of bitcoin mining is to give me bitcoins that I don't lose money to buy, but more than anyone else, I understand how difficult it is to mine bitcoins.

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Bitcoin mining is the process of adding transaction records to bitcoin public ledgers. Bitcoin nodes uses blockchain to distinguish legitimate bitcoin.  So this is bitcoin mining for me meaning.

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4 minutes ago, secgape said:

I truthful observed out nearly this form of gadget ASIC's Digger. In case it can still be beneficial, at that point preserve mining using this gadget. But within the occasion that the calculations are nevertheless no longer getting benefit, at that factor I propose preventing for a minute.

I don't quite understand what you mean by ASIC's Digger !!! Do you mean ASIC miner mining machine? If your intention is yes, it is still profitable until now, mainly at the present time Bitcoin can only be mined by this device because the cards are no longer profitable.

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Welcome with me
Thank you, a good definition of the mining process, once, I introduced a friend to Bitcoin as follows: Bitcoin is a set of mathematical equations
From your definition, I conclude that the price of bitcoin will increase after the halving event on March 14, 2020, because the difficulty of the bonus will decrease to 6.25

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Thank you for this definition, this is ideal and useful informations, bitcoin mining within the current time is utilized by the succesful people, as he is worthwhile he is high priced too, so if we cannot manage him higher to not enter this world.

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a site in which you may get btc with some investment.  and you do not should paintings. that is worthwhile and you can earn plenty from this

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6 hours ago, Researcher 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.

 

6 hours ago, Sowati356 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.

You wrote the same response completely, and I think that one of you has copied the response from the other, this is in violation of the laws of the forum and I hope you pay attention because you can get a warning point or be expelled from the forum because of this violation. Please then please write useful things and abide by the laws of the forum.

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On 12/2/2019 at 3:14 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.

Very good definition about mining and what's they mean it's really good and helpful for newbie and older in Crypto currency to know exactly what they mean and how the blockchain technology work, Thanks to sharing that with us

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5 hours ago, biogerde said:

Your remark is enormously adorable and I loved it, however there may be a point that I would really like to point out, which is that it isn't the mineworkers who stable the bitcoin set up but or perhaps the masternodes and the diggers whose work is to find out unused squares of bitcoin and confirm the exchanges of bitcoin in the community and of direction they maintain continuation of the paintings inside the organize in arrange with the masternode.

Thank you, my friend, for pointing this out already miners do not have one job but more than one thing is finding bitcoin blocks that are not mining and completing transactions on the network and maintaining the network in general.

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On 12/2/2019 at 3:14 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.

Dear mate thanks for your above article on bitcoins mining I didn't know of the meaning not until now I thought it was just the mining of bitcoins as a whole but here you gave it a simple explanation even a newbie could understand the meaning

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The bitcoin mining is the action of collecting blocks from the pool mining and allowing the blockchain transactions to be done from the people's wallets

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Bitcoin mining is the way of using our computing power to help with blockchain to confirming the transactions and got reward depending on transactions you confirming


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Yes you are right, Bitcoin mining prices part of money, however there may be a tremendous sum of pay I can win from numerous people, counting my partners.

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3 hours ago, algomer555 said:

bitcoin mining ? is the process of adding transaction records you can get generated bitcoin depends on the hash power of your bitcoin miner and for me as of today or last survey that bitcoin mining is not that profitable right just try trading and everything will be fine for sure.

 

Yes, that is true. Unfortunately, Bitcoin mining is no longer profitable these days except through the latest equipment, which costs expensive, and things will get worse after the next halving, as the bonuses will decrease to 6.25 Bitcoin instead of 12.5.

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Nice one. Sim people can suppose it's far the technique with the aid of which bitcoin is mined not knowing that blockchain document is upgraded as properly.

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Thanks for sharing this quality information with us here. Now, we know more about bitcoin mining.

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35 minutes ago, zharslomi said:

I fair found out around this kind of gadget ASIC's Digger. In the event that it can still be beneficial, at that point keep mining utilizing this gadget. But on the off chance that the calculations are still not getting benefit, at that point I propose delaying for a minute.

At the moment Bitcoin mining can only be done with ASIC's Miner devices, I mean, it is mining by the way through the processor or graphics cards has become unprofitable at the present time due to the high difficulty of mining.

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4 hours ago, Afnan016 said:

As Bitcoin is decentralized there is no third party which works in this so verify the transaction that it is real or not some people use their computer power to verify that transaction in reward they received small amount of Bitcoin the person who is doing this is called miner.

Yes good, I told you earlier, I like your glasses, it indicates intelligence, yes this is in addition to extracting the new block of bitcoin, miners log and verify  all bitcoin transactions on the blockchain.

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18 hours ago, mudatm said:

gratitude for this definition, this is skilled and ready to lend a hand informations, bitcoin mining in the tide time is old by the adept people, as he is profitable he is classy too, accordingly if we insincerity feel him outdo to not come in this humankind
 

Thank you, I have tried to provide a simple definition for everyone to understand and I am happy that I was able to communicate this useful information to as many members of the forum as this would be of benefit to everyone I think.

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1 hour ago, burgroughchens said:

With the current conditions I think it is exceptionally troublesome to urge benefits from mining Bitcoin. I do not know right presently whether there are still those who are mining bitcoin that really utilize a few sort of Fix. So that the comes about gotten are quicker by other mining strategies.

Yes, there are those who do mining so far, but for Bitcoin mining, mining can only now be done with Asic Mines and GPU has now been used for mining AltCoins because the difficulty of bitcoin mining has increased so much.

 

Edited by Crypto123
correction

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