How Much Time is Needed to Perform the Process of Bitcoin Mining?

[Goodcat49]

It goes without saying, that the Bitcoin network needs a significant help to maintain the platform in service. Bitcoin miners successfully cope with this task by verifying newly-created blocks of transactions. In return, they get rewards for their efforts. But how much time do they spend on mining a Bitcoin?

The Technical Part of the Question
 
Frankly speaking, there does not exist an accurate answer to this question. The time needed for mining a Bitcoin may vary for each person individually because the result depends not only on the period of time dedicated but also on the competing ability. First of all, one need to outcompete other people who aspire to mine this Bitcoin. However, it is not a big problem, as new blocks are created every ten minutes. So, there are pretty many chances to win a virtual coin.   

The core of the Bitcoin network is Proof-of-Work (PoW) mining algorithm, meaning that miners have to become rivals in a race for a prize. There is a complex computational task and the first, who completes it and adds a new block to the blockchain, will be rewarded. That is important to notice, that only one miner can become a winner. The one who has the most powerful computational resources.   

The reward for solving a block can change over time but currently it makes up 12.5 BTC. To sum it up, we can say that there is no proper way to define how long it takes to mine one Bitcoin.   

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/process-of-bitcoin-mining/

[212]

In my opinion, certainly not in a short and also instant. There are several ways actually if you have a lot of capital, you can buy a BTC instantly, this is an instant way. If you dig? It will take time, process, and patience that time could not be determined.