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How Bitcoin mining works?
bitcoinforum.com:
How Bitcoin mining works?
https://www.investopedia.com/tech/how-does-bitcoin-mining-work/
Adelle:
Basically it works like this:
Every ten minutes or so mining computers collect a few hundred pending bitcoin transactions (a “block”) and turn them into a mathematical puzzle. ... The miner who found the solution gets 25 bitcoins as a reward, but only after another 99 blocks have been added to the ledger.
The first miner to find the solution announces it to others on the network. The other miners then check whether the sender of the funds has the right to spend the money, and whether the solution to the puzzle is correct.
Bilkymesk:
--- Quote from: Hardmandie on December 30, 2017, 04:43:07 PM ---I have always wanted to know how bitcoin mining works. I read some hardwares are needed. How much do I really need to set up a mining software and hardware.
--- End quote ---
I wonder there is any software that can help to earn bitcoins without paying. I am newbie so I want to learn more before investing money on. Thanks
J:
--- Quote from: Adelle on February 07, 2018, 09:22:41 PM ---Basically it works like this:
Every ten minutes or so mining computers collect a few hundred pending bitcoin transactions (a “block”) and turn them into a mathematical puzzle. ... The miner who found the solution gets 25 bitcoins as a reward, but only after another 99 blocks have been added to the ledger.
The first miner to find the solution announces it to others on the network. The other miners then check whether the sender of the funds has the right to spend the money, and whether the solution to the puzzle is correct.
--- End quote ---
The mining-pool get 12.5 BTC per block, not 25 BTC. This stage has already passed. By the way, in the beginning of Bitcoin the miners received 50 BTC per block.
innate:
nice post! Finally i can found this
MaRiNA_098:
Interesting post, thanks a lot!
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