Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: euz4692 on November 16, 2021, 05:03:59 AM
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Actually I am new at this platform .I heard this word (Bitcoin mining) many time but I don't understand what is mining.
I wanna know what is bitcoin mining and how it's worked ?
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Mining is one way to get Bitcoin which is the most popular cryptocurrency in the world. Bitcoin mining is done by using special computer devices to solve algorithms or mathematical calculations of Bitcoin transactions made by miners. The way bitcoin mining works is by blockchain. Many bitcoin transactions occur simultaneously. The transactions that occur at the same time are grouped into the same group, the group is known as blockchain.
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Well, it's compicated question. It's like creating peaces of code as I know.
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Mining is the way which is the system of proof of work (pow). That means miner are frequently work for mining coin. This process is called algorithm process for generating coin. This algorithm process will remain primarily easy then it will slowly harder to harder so from the starting if price low then no problem to mining but when the algorithm process harder then the price need to high to cover that cost. Mining is the profitable when price of that coin gradually increase one the other hand some cases mining is occur losses when coin price remain low than cost.
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To fully perceive the conception of cryptocurrency mining, information of the underlying technology is paramount. every cryptocurrency is constructed on a Blockchain that ought to merely be understood as a public ledger.
also mining is better than trading.in trading you have 50% lose and 50% profit chane but if you do mining its totly gives you profit at daily basis but its kind of expensive
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Actually I am new at this platform .I heard this word (Bitcoin mining) many time but I don't understand what is mining.
I wanna know what is bitcoin mining and how it's worked ?
I myself am not a miner or anything like that, but if you need information about bitcoin mining it is clear that there is a lot of literacy available on google and you just have to adjust it to your area, because you can be sure things like this is widely available.
"Broadly speaking bitcoin mining is a way to get crypto currency using special computer devices to solve algorithms or mathematical calculations of Bitcoin transactions made by miners".
to be clearer and more detailed you just have to look for it because for a detailed explanation of course it can't be explained here.
can read here;
https://www.bitcoinmining.com/
https://www.investopedia.com/terms/b/bitcoin-mining.asp
https://www.bankrate.com/investing/what-is-bitcoin-mining/
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To completely recognize the idea of cryptocurrency mining, know-how of the underlying generation is paramount. Each cryptocurrency is constructed on a Blockchain — which have to truly be understood as a public ledger.
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There are plenty of articles about that you will find in google and in these forum too. These topic has been discussed countless time and i think there is no need to another one. So i just wants to suggest you about finding difference between POW and POS mining so that you will understand what is the difference between BTC and ETH mining.
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Mining cryptocurrency is a method of creating new currencies while simultaneously validating existing transactions. CryptocurrencyEdited by NDTV Business Desk Updated. Mining is used to create new coins as well as validate existing transactions.
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The method by which Bitcoin and other cryptocurrencies are generated and the transactions involving new coins are verified is known as mining.
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Actually I am new at this platform .I heard this word (Bitcoin mining) many time but I don't understand what is mining.
I wanna know what is bitcoin mining and how it's worked ?
I think If you're new in this platform, better to learn more here .
Mining is need high cost to buy equipment and electrical cost.
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Mining is a system of divided consensus. As such, a large range of people around the sector are concerned with the maintenance of the Bitcoin network. Mining is a time used to describe a transaction verification process that may be ready to be secured within blockchain technology.
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Mining is a system of divided consensus. As such, a large range of people around the sector are concerned with the maintenance of the Bitcoin network. Mining is a time used to describe a transaction verification process that may be ready to be secured within blockchain technology.
To completely recognize the idea of cryptocurrency mining, know-how of the underlying generation is paramount. Each cryptocurrency is constructed on a Blockchain — which have to truly be understood as a public ledger.
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I THINK MINING IS a program that runs on the computer other than that i dont know anything about it
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The term crypto mining means gaining cryptocurrencies by solving cryptographic equations through the use of computers. This process involves validating data blocks and adding transaction records to a public record (ledger) known as a blockchain.
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Mining is one way to get Bitcoin which is the most popular cryptocurrency in the world. Bitcoin mining is done by using special computer devices to solve algorithms or mathematical calculations of Bitcoin transactions made by miners. The way bitcoin mining works is by blockchain. Many bitcoin transactions occur simultaneously. The transactions that occur at the same time are grouped into the same group, the group is known as blockchain.
mining refers to the process where a global network of computers running the Bitcoin code work to ensure that transactions are legitimate and added correctly to the cryptocurrency's blockchain
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mining refers to the process where a global network of computers running the Bitcoin code work to ensure that transactions are legitimate and added correctly to the cryptocurrency's blockchain. Mining is also how new Bitcoin is entered into circulation.
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Dear New crypto users, mining is a crypto business in which you dedicate your mining devices to crypto field and your devices work as a validator of approving any coin network transaction (which coin you mine devices approve this coin transactions) You know that there is a fee of transferring coin from one address to another this fee is given to miner known as mining profitability.
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Crypto mining is the process of verifying blockchain transactions for a reward. Miners are paid for their work, kind of like how Visa takes a cut for verifying credit card transactions. The difference is, miners are random individuals all over the world
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Good question for Beginners ,
What is mining ?
Mining is is a word means extracting anything , And in crypto field we refer this word to crypto mining , Its a process of solving highly complicated problems , its doing by using powerful computing devices , also computers also used as mining device but have very less processing power therefore we use special devices highly powerful created specifically for mining purpose ,
ASIC machines ( Application Specific Integrated Circuit ) , where are very powerful think its have the power of 100 computers , using there devices miners mine bitcoins and other cryptos , there machines validates our crypto transactions that we make from one wallet to another , miners transfer our crypto safely and take transaction fee as a reward , which we say transaction fee .
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Bitcoin mining is the process of creating new bitcoins by solving extremely complicated math problems that verify transactions in the currency. When a bitcoin is successfully mined, the miner receives a predetermined amount of bitcoin. if you want to learn more check out this article : https://www.bankrate.com/investing/what-is-bitcoin-mining/#:~:text=Bitcoin%20mining%20is%20the%20process,a%20predetermined%20amount%20of%20bitcoin.
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Bitcoin mining is the process of getting new Bitcoin. It also confirms the transactions in the network running in Bitcoin code and sync to all nodes on the chain. ‘Mining’ is performed on a computer for hash operations. The first computer to find the solution to complex math puzzles will get the right for the next block and this happens every 10 minutes. The ability to find the solution depends on the portion of the network’s total mining power.
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Hi all. ;) I am also new to mining cryptocurrencies. I read the forum thread, learned a lot of useful information for myself. Now it remains only to figure out where and which currency is more profitable to mine 8)
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Bitcoin mining is the process by which Bitcoin transactions are validated digitally on the Bitcoin network and added to the blockchain ledger. It is done by solving complex cryptographic hash puzzles to verify blocks of transactions that are updated on the decentralized blockchain ledger. As simply as that :)
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Bitcoin mining is the process of using computer hardware to perform complex calculations that validate and record transactions on the Bitcoin blockchain, earning miners Bitcoin as a reward.
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Bitcoin mining is the process by which Bitcoin transactions are validated digitally on the Bitcoin network and added to the blockchain ledger.
It is worth mentioning that BTC nodes validate tx's to ensure that they are valid and that they comply with the network's rules, while BTC miners pick these tx's, put them in a block, mines it and adds that block to the blockchain.
earning miners Bitcoin as a reward.
Miners also earn tx fees, the tx fees attached to all the tx's in a block is earned by the miner or mining pool that finds that block.
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Bitcoin mining means artificially generating bitcoins with the help of various devices. Generating bitcoins or mining bitcoins usually requires some important equipment. A miner tries to mine Bitcoin by combining some essential devices and a good amount of electrical supply. But Bitcoin mining is as easy as the term Bitcoin mining is. There are many organizations who started Bitcoin mining but stopped Bitcoin mining because they could not afford the high cost. Since Bitcoin mining requires extra electricity, the miner needs to ensure a location where electricity is readily available. If electricity is readily available then it is possible to profit from Bitcoin mining.
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Mining is a way of obtaining coins by using computers to solve the Bitcoin transaction algorithm or mathematical calculations performed by the miners. It may not be right here to discuss mining in detail or it is a matter where it would not be right to say anything by one's own estimation. If you want to know more about mining then you can google it. There are certainly many signatures that you can learn more about. If you make a mistake, you will look at forgiveness.
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Bitcoin mining means artificially generating bitcoins with the help of various devices. Generating bitcoins or mining bitcoins usually requires some important equipment.
Miners confirm BTC tx's and earn BTC's as block rewards, saying they 'artificially generate BTC's' is not totally true or well explanatory. Miners also buy gears, Asics, in order to have good computational power and have a chance of finding a block, they also cover electricity and maintenance cost.
Take note that solo mining may not be profitable, depending on your computational power, so in that case the miner has to join a mining pool and contribute their hashrate to the pool.
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For me miming is an process which is generated bitcoins by using computersto solve the bitcoin transaction
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Actually I am new at this platform .I heard this word (Bitcoin mining) many time but I don't understand what is mining.
I wanna know what is bitcoin mining and how it's worked ?
Since you don't know the meaning of what bitcoin mining is, you can as well start from reading about bitcoin from online materials, after that, know that the process of producing or minting new bitcoin is called mining, you can as well look for other definitions from the internet about what bitcoin mining is, you can also learn how the entire process works by proof or work as you may like to learn from it more.
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For me miming is an process which is generated bitcoins by using computersto solve the bitcoin transaction
During Bitcoin mining, there are a lot of things that is happening in the Bitcoin blockchain and this Includes:
-Bitcoin transaction been added to the blockchain. The miners select a number of transactions they can add to the next block and collect the fees and in this process of adding transactions to the block, a reward is been given to them which is going to be halve this month.
-The miners also provide security for the Bitcoin Blockchain from any external security threats and anything can cause harm to Bitcoin transaction because Bitcoin transactions are arrange in blocks and nobody can tampered with them. They will remain like that forever.
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mining refers to the process where a global network of computers running the Bitcoin code work to ensure that transactions are legitimate and added correctly to the cryptocurrency's blockchain
Nodes validate tx's, what miners do is to confirm tx's, if a tx does not agree with the rules of the network, nodes will reject such tx's and they would not propagate it to other nodes. When a miner successfully mines a block, it is then added to the blockchain and is immutable.