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Author Topic: How Bitcoin mining works?  (Read 25677 times)

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Offline crroman18

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Re: How Bitcoin mining works?
« Reply #45 on: October 22, 2018, 02:36:04 PM »
True there are many factors that impact your success in crypto mining.. but the major one no one talks about is the network is not optimized for blockchain tech. This post explains it well https://medium.com/bloxroute/how-bloxroute-benefits-miners-f4816af72f68 [nofollow] hopefully with scalability solutions on the network level we will all be more profitable.
« Last Edit: October 22, 2018, 09:15:07 PM by crroman18 »


Online emma.lee1890

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Re: How Bitcoin mining works?
« Reply #46 on: October 28, 2018, 05:27:10 PM »
its funny how this is all very reminiscent of the gold rush.  You used to be able to mine with your two hands and now its all machinery not too different from cryptocurrency.

Online GoldXCashNet

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Re: How Bitcoin mining works?
« Reply #47 on: October 31, 2018, 08:55:38 AM »
More miners try to exit from business.

Offline gogas2

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Re: How Bitcoin mining works?
« Reply #48 on: November 09, 2018, 06:11:08 PM »
Very interesting , Thanks for this share
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Offline AndrejWarhola

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Re: How Bitcoin mining works?
« Reply #49 on: November 12, 2018, 11:41:07 AM »
Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

Online emma.lee1890

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Re: How Bitcoin mining works?
« Reply #50 on: November 14, 2018, 05:18:38 PM »
But the reason that people mentioned mining with your PC now is because you can "mine Bitcoin" indirectly by mining other cryptocurrencies and then converting them to Bitcoin.  Many of these cryptocurrencies have different mining algorithms which means that ASICs have not been developed for them yet - furthermore, many of the mining algorithms are designed to make ASICs hard to develop.


 

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