Author Topic: How Bitcoin mining works?  (Read 520690 times)

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How Bitcoin mining works?
« on: December 17, 2017, 05:12:27 PM »
"Your keys, your Bitcoin. Not your keys, not your Bitcoin." (Andreas Antonopoulos)
Latest stable Bitcoin version
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The following users thanked this post: franzyshifter, Ivette80, lovelydaytoday, scentsupremacy

Offline CryptoStar19

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Re: How Bitcoin mining works?
« Reply #150 on: July 19, 2021, 01:53:49 PM »

your ads here
We have just had the 4th downward difficulty adjustment in a row... ongoing mining issues in China, another province banned bitcoin mining just days ago.

It will be temporary though, the hash rate will come back online soon or later.

Offline CryptoStar19

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Re: How Bitcoin mining works?
« Reply #151 on: July 21, 2021, 02:00:44 PM »
Beware of android apps and cloud-mining services offering essentially fake mining in exchange for your money.

Offline Jaianad

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Re: How Bitcoin mining works?
« Reply #152 on: August 03, 2021, 11:26:09 AM »
Essentially, a group of computers (nodes) gives a group of miners (pool of miners) a math problem. Most miners use a pool because mining solo drastically increases your variance. Each miner uses their hash power (computing power) to solve (hash) portions of the math problem (in bitcoin’s case, SHA-256 algorithm) until the block is mined. Think of a block as a page in a book. In bitcoins case, it’s new transactions on the network being added to the public ledger. Once the block is mined, miners are rewarded (BTC) based on how many shares (parts of the math problem) they contributed to the block.

In the evening after a working day, I like to listen to music and play slot machines. Where did my interest come from, you ask? And I’ll answer you, I’ll say this, I’m a pretty gambling person and I like to play slot machines. I love the gameplay and I am really relaxing, especially after a day at work. I trust my friends and we are constantly exchanging information about new and old online platforms, as we are all passionate about gambling to one degree or another. It helps that we know a few more tips and tricks that can tell us if an online casino is legal or not, like checking licenses or checking if they have famous developers making games for them.
If you want to find something new, I would suggest taking a look at this site
They offer a large selection of slot machines, user-friendly interface and much more ...
This is a website that I use all the time, and I can safely recommend it to anyone who wants to try their luck at slot machines.

Offline Shital

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Re: How Bitcoin mining works?
« Reply #153 on: August 05, 2021, 06:14:09 PM »
You would be able to trade bitcoin easily for cash or assets such as gold instantly with incredibly low fees. The high liquidity which would be associated with bitcoin makes it a great investment vessel

Offline cashisking86

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Re: How Bitcoin mining works?
« Reply #154 on: August 09, 2021, 02:36:03 PM »
Is this still profitable for most people to do or only if you are able to do en masse in a cave in Iceland?

Offline Shital

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Re: How Bitcoin mining works?
« Reply #155 on: August 10, 2021, 05:29:30 PM »
I don't think so, because you need to have a good and working internet connection in order to do the Bitcoin Mining.

Offline luckypenguin

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Re: How Bitcoin mining works?
« Reply #156 on: August 13, 2021, 09:50:46 AM »
 :)
« Last Edit: August 15, 2021, 05:59:40 PM by luckypenguin »

Offline CrySmile

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Re: How Bitcoin mining works?
« Reply #157 on: August 15, 2021, 05:58:46 PM »
It works well ) But in general it's no secret that bitcoins are given out as a reward for sharing your computing power and being a link in the chain needed to complete a transaction. This topic has been covered very extensively on Bitcoinvn. But now mining is considered unprofitable, you can only make a profit on it if you have access to super cheap electricity.

Offline Jeff larin

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Re: How Bitcoin mining works?
« Reply #158 on: August 16, 2021, 10:31:01 AM »
Great that is really awesome
Thanks dude

Offline michaels

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Re: How Bitcoin mining works?
« Reply #159 on: August 18, 2021, 12:27:11 PM »
Software design is the methodology by which an engineer develops a specified description of an automated software artifact designed to achieve objectives, with a specified group of technical elements and subject to certain constraints. An appendix is used to generate text files from markup languages such as HTML or XML https://mlsdev.com/services/web-development. Although this can be done without any software design language at all (see e.g. web design), web designers typically employ some form of a programming language, most often JavaScript, to manipulate the denotative structure of the text.
« Last Edit: August 19, 2021, 12:39:25 PM by michaels »

Offline Shital

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Re: How Bitcoin mining works?
« Reply #160 on: August 26, 2021, 05:17:27 PM »
The easiest way you would be able to get into bitcoin mining is by participating in cloud bitcoin mining. Cloud bitcoin would be able to allow for an individual to pay for the utilization of hardware and software needed for bitcoin mining without expending the cost of overhead associated with a personal mining rig.

Offline Wolbachia

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Re: How Bitcoin mining works?
« Reply #161 on: August 27, 2021, 11:52:28 AM »
great thread for newbies!

Offline reecerispoli

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Re: How Bitcoin mining works?
« Reply #162 on: September 13, 2021, 09:32:04 PM »

Offline Tanri

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Re: How Bitcoin mining works?
« Reply #163 on: September 20, 2021, 09:38:40 AM »
Interesting post

Offline Shital

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Re: How Bitcoin mining works?
« Reply #164 on: September 30, 2021, 06:34:46 PM »
I would like to give bitcoin a try, but I would like to become successful in the Forex Trading first.

 

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