Everything you need to know about Bitcoin mining

Mining Bitcoin

Bitcoin mining is analogous to the mining of gold, but its digital form. The process involves specialized computers solving algorithmic equations or hash functions. These problems help miners to confirm blocks of transactions held within the network. Bitcoin mining provides a reward for miners by paying out in Bitcoin in turn the miners confirm transactions on the blockchain. Miners introduce new Bitcoin into the network and also secure the system with transaction confirmation.
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Cryptocurrency News & Discussion

The official source for CryptoCurrency News, Discussion & Analysis.
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Bitcoin - The Internet of Money

/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
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What bitcoin mining distribution could actually look like right now

What bitcoin mining distribution could actually look like right now submitted by Hitchslappy to Bitcoin [link] [comments]

Is this an accurate and basic explanation of what Bitcoin mining is?

As a simple explanation, mining is essentially the use of computer hardware to voluntarily verify transactions on the Bitcoin network. Computers are tasked with “solving blocks” through the use of a proof-of-work (PoW) algorithm, or more simply, computers guess the answer to a very complex computational equation using a trial-and-error strategy (you can learn more about Bitcoin mining here). The first computer(s) to solve the block are awarded a predetermined amount of Bitcoin for their services to the network. As more miners enter the network, these equations become more difficult, and the mining rewards decrease, in an attempt to curb inflation and keep the block creation rate at a static time interval (about 10 minutes).
submitted by Costoffreedom to CryptoCurrency [link] [comments]

What Bitcoin mining really looks like

What Bitcoin mining really looks like submitted by yzzyxmusic to CryptoCurrency [link] [comments]

This is what bitcoin mining cost looks like in your country II CRYPTO UPDATE

This is what bitcoin mining cost looks like in your country II CRYPTO UPDATE submitted by raojeet1 to BitcoinMining [link] [comments]

What bitcoin mining feels like..

What bitcoin mining feels like.. submitted by BitcoinAllBot to BitcoinAll [link] [comments]

This is what bitcoin mining cost looks like in your country II CRYPTO UPDATE

This is what bitcoin mining cost looks like in your country II CRYPTO UPDATE submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

What Bitcoin mining is actually doing on your computer /r/BitcoinBeginners

What Bitcoin mining is actually doing on your computer /BitcoinBeginners submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What bitcoin mining distribution could actually look like right now /r/Bitcoin

What bitcoin mining distribution could actually look like right now /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Have you ever wonder what Bitcoin mining really is? Take a look!

Have you ever wonder what Bitcoin mining really is? Take a look! submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What bitcoin mining hardware for 2017? /r/Bitcoin

What bitcoin mining hardware for 2017? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What bitcoin mining reminds me of

What bitcoin mining reminds me of submitted by PixMasterz to Buttcoin [link] [comments]

Explanation of exactly what bitcoin mining is.

Explanation of exactly what bitcoin mining is. submitted by johngalt2104 to Bitcoin [link] [comments]

[#73 Score:2 Comments:0] - ELI5: What bitcoin mining is and how much money it makes.

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ELI5: What bitcoin mining is and how much money it makes.

ELI5: What bitcoin mining is and how much money it makes. submitted by Removal_Rover to ModerationLog [link] [comments]

What bitcoin mineing software work with slush's pool?

Im trying to find a good mineing software that work with slush's pool thats not cgminer or BFGminer or GUIminer does anyone know a alternative for that? i just want a miner that i can enter a stratum URL in that works.
submitted by trollmad3 to Bitcoin [link] [comments]

What bitcoin mineing software work with slush's pool? /r/Bitcoin

What bitcoin mineing software work with slush's pool? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What is bitcoin mining and can/how I do it?

I think I've got a somewhat general idea of what bitcoin mining is. Basically it's using your computer to keep ledgers of bitcoin transactions around the globe, and when you successfully do it you are paid for your services in bitcoin... at least I think that's the general idea of it though correct me if I'm wrong and PLEASE elaborate in more detail I'm very curious of it.
Secondly I recently built a new gaming rig with a gtx 1080ti gpu and a i7 8700k cpu that I'm planning on OC'ing, is this something that could potentially mine bitcoin? If so how would I do that?
submitted by Wickedsymphony1717 to BitcoinBeginners [link] [comments]

Who knows what bitcoin, bitcoin mining or bitcoin mining as a service is?

Bitcoin, who here knows what it is and who knows what Bitcoin Mining as a Service is? I just wanted to get an idea of who knows about what this is and how in depth their knowledge of Bitcoin is as the average redditor. This is just a survey that I am doing so it would help me greatly if you guys could post if you do know what bitcoin, bitcoin mining or bitcoin mining as a service are. Thank you for your time and considerations guy and for your help!
submitted by infinitehash to Bitcoin [link] [comments]

Can anyone explain how to earn bitcoin? What does this even mean? It cost over 11k!

What does the phrase "earn bitcoin" allude too? Do you just watch adds on your phone or play app store games? Don't really get what bitcoin mining is, what's the point of "mining"? And also, if you were to buy crypto currency in general, where do you do it??
submitted by Apennyis1cent to Bitcoin [link] [comments]

[Offer] I can teach you how to setup a working bitcoin mining software on your pc for $2 bitcoin

Hey slavelabour! I’m just some random guy looking to make a few bucks.
Before I start, I’m going to explain what bitcoin mining is. Essentially, bitcoin operates off of a blockchain, which has stuff that needs to be figured out in order for transactions to go through. Bitcoin mining is pretty much signing up your pc to do that stuff. Your pc can do this by itself with help of some softwares, and can generate a few dollars or cents a day, depending on your pc.
(Disclaimer: you might not profit due to electricity bills)
I can explain, through reddit dms, how to setup your pc for bitcoin mining, how to create a bitcoin wallet, and how to deposit and withdraw bitcoin. I can also link a few sites where you can order from amazon with bitcoin or buy gift cards with bitcoin. I can also tell you where to buy bitcoin with a credit card!
submitted by SheerChair56470 to slavelabour [link] [comments]

What do you guys think about the possibility of using lots of Arduinos to possibly replace expensive GPU's in bitcoin mining

I'm not sure what I'm talking about here too much but I'm pained to see expensive GPU's that the ultra-rich buy in the thousands and mine so much bitcoin.
My attempts of bitcoin mining with my PC were a failure because my 4GB GPU is not strong enough at all
Renting ASIC miners are mostly scams and I will not get much return
The one thing I'm forced to go to is to make my own GPU by my self and see if there is a possibility of working a with a general PC
As far as I'm aware this has never been done before and by no means do I expect an Arduino graphics card to be as strong as an early 2000's GPU but my thinking is: If I can buy the components for a cheap price then I can assemble an array of weak GPU's to become a far stronger one

If this whole idea is a flop and there is no real way to make money, I want to use this as a learning experience
So the first thing I want is a discussion on whether or not this could even achieve and become compatible with a PC. Whether it be a gaming PC or a raspberry Pi
The next is some sources on how GPU's work and their pinout and whatnot
I really don't expect any positive comments in this comment section since what I'm thinking of doing is near enough outrageous Xd
submitted by HShahzad108277 to arduino [link] [comments]

What will happen if 2 bitcoin miners finish at the same time? Will they share the mining reward? [Bitcoin Basics Podcast]

What will happen if 2 bitcoin miners finish at the same time? Will they share the mining reward? [Bitcoin Basics Podcast] submitted by CoinCompassBTC to Bitcoin [link] [comments]

Noob's Guide To Bitcoin Mining - Super Easy & Simple How Does Bitcoin Work? - YouTube Inside a Bitcoin mine that earns $70K a day - YouTube What Is Bitcoin Mining? - YouTube What Do YOU Need to MINE ONE BITCOIN In 2020?! - YouTube

How Bitcoin Mining Works. Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. 4. Bitcoin Mining Pools. Mining is an extremely competitive game. Even if you buy the best possible miner out there, you’re still at a huge disadvantage compared to professional Bitcoin mining farms.That’s why mining pools came into existence.. The idea is simple – miners group together to form a “pool” so they can combine their mining power and compete more effectively. Bitcoin mining is done by private computers. The role of miners is to secure the network and process each Bitcoin. Miners do this by solving a calculation problem that allows them to assemble the transaction blocks (hence bitcoin's famous blockchain). Miners for this service are rewarded with newly created Bitcoins and transaction fees. The result of “bitcoin mining” is twofold. First, when computers solve these complex math problems on the Bitcoin network, they produce new bitcoin, not unlike when a mining operation extracts ... 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.

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Noob's Guide To Bitcoin Mining - Super Easy & Simple

I mined cryptocurrency full-time for over a year, this is a story of my journey navigating mining cryptocurrency such as Bitcoin, Ethereum, Zcash and many mo... The virtual goldrush to mine Bitcoin and other cryptocurrencies leads us to Central Washington state where a Bitcoin mine generates roughly $70,000 a day min... Where do Bitcoins come from, and what is Bitcoin "mining"? Peter van Valkenburgh, Director of Research at Coin Center, explains the role of miners in a syste... What do you need to mine one Bitcoin BTC coin in 2020? Let's review Bitcoin mining profitability and what BTC mining rigs you would need to mine an entire co... Thanks to Away for sponsoring this video! Go to https://www.awaytravel.com/techquickie and use promo code techquickie to get $20 off your next order! Bitcoin...

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