What is Bitcoin Mining and How Does it Work? (2020 Updated)

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The All-in-One, Cheap, Energy-efficient Package to Store and Mint Peercoin

Dedicated OS for low-grade and energy efficient HW like RaspberryPi or Beaglebone Black to run Peercoin minter so that decentralization is guaranteed
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So butters are loving this billboard because it represents the mantra they repeat: “bitcoin can’t be printed out of nothing except mining”. Aren’t exchanges blowing up left and right by doing just that? Claiming reserves they don’t have? What innovation is around the corner that will fix this?

So butters are loving this billboard because it represents the mantra they repeat: “bitcoin can’t be printed out of nothing except mining”. Aren’t exchanges blowing up left and right by doing just that? Claiming reserves they don’t have? What innovation is around the corner that will fix this? submitted by taxonomicnomenclatur to Buttcoin [link] [comments]

What is Bitcoin mining actually doing?

What is Bitcoin mining actually doing?
Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions on the blockchain and the blockchain confirms transactions to the rest of the network as having taken place.
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https://preview.redd.it/vjm0wobxyp941.jpg?width=800&format=pjpg&auto=webp&s=988858bb7751fc113d047618fd65608651308bf3
submitted by hamdantokenofficial to u/hamdantokenofficial [link] [comments]

I have two "ASICMINER Block Erupter 333MH/s ASIC USB BTC Bitcoin Miner SHA256" can somebody help me on what software do i need that will use these usb asics and mine bitcoin or any other crypto coin. (i don't care if is it profitable orn not)

submitted by djkalantzhs24 to Bitcoin [link] [comments]

@BinanceResearch: Bitcoin Gold is up 5.36% in the last 24 hours. But what is $BTG? It's a Bitcoin fork that changed the scripting function & the supply to curb ASIC mining. Some people think #BTG is superior to #Bitcoin. Do you? Read our report and see for yourself ⬇️ https://t.co/w4OF4xEjgb

@BinanceResearch: Bitcoin Gold is up 5.36% in the last 24 hours. But what is $BTG? It's a Bitcoin fork that changed the scripting function & the supply to curb ASIC mining. Some people think #BTG is superior to #Bitcoin. Do you? Read our report and see for yourself ⬇️ https://t.co/w4OF4xEjgb submitted by rulesforrebels to BinanceTrading [link] [comments]

Other than mining, is anyone earning or getting paid in bitcoin? What kinds of things are you doing to earn crypto?

Other than mining, is anyone earning or getting paid in bitcoin? What kinds of things are you doing to earn crypto? submitted by rabbit_runs_fast to Bitcoin [link] [comments]

Here is what I don't understand. Bitcoin SV has been mined unprofitable since it's birth. Right now it's 7% more profitable to mine BCH over BTC and 9% more profitable to mine BTC over BSV. Who is mining BSV unprofitable? I thought BSV is business, not charity or doing your duty.

Here is what I don't understand. Bitcoin SV has been mined unprofitable since it's birth. Right now it's 7% more profitable to mine BCH over BTC and 9% more profitable to mine BTC over BSV. Who is mining BSV unprofitable? I thought BSV is business, not charity or doing your duty. submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Here is what I don't understand. Bitcoin SV has been mined unprofitable since it's birth. Right now it's 7% more profitable to mine BCH over BTC and 9% more profitable to mine BTC over BSV. Who is mining BSV unprofitable? I thought BSV is business, not charity or doing your duty.

Here is what I don't understand. Bitcoin SV has been mined unprofitable since it's birth. Right now it's 7% more profitable to mine BCH over BTC and 9% more profitable to mine BTC over BSV. Who is mining BSV unprofitable? I thought BSV is business, not charity or doing your duty. submitted by cryptoallbot to cryptoall [link] [comments]

What will miners do if all Bitcoin is mined and transaction fees are very low?

Eventually in over 100 years all Bitcoin will be mined. If transaction fees end up being low, what exactly will miners do? Since there's no bitcoin left to mine, and the fees are low, the reward for mining will be very low. What will miners do? EDIT: Never mind, I think even 1 satoshi fees might be fine if everyone uses it.
submitted by shinyspirtomb to Bitcoin [link] [comments]

Other than mining, is anyone earning or getting paid in bitcoin? What kinds of things are you doing to earn crypto?

Other than mining, is anyone earning or getting paid in bitcoin? What kinds of things are you doing to earn crypto? submitted by BitcoinAllBot to BitcoinAll [link] [comments]

What is bitcoin cloud mining actually doing? | Bitcoin Supply and Demand | LEO

What is bitcoin cloud mining actually doing? | Bitcoin Supply and Demand | LEO submitted by petbirds127 to videos [link] [comments]

Anyone know what is bitcoin mining actually doing?

Anyone know what is bitcoin mining actually doing? submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Anyone know what is bitcoin mining actually doing?

Anyone know what is bitcoin mining actually doing? submitted by Thejohnroony to btc [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 is Bitcoin mining and is it illegal? Also, is it worth doing if it is legal?

What is Bitcoin mining and is it illegal? Also, is it worth doing if it is legal? submitted by BitcoinAllBot to BitcoinAll [link] [comments]

ELI5: What is my computer doing when I am mining for bitcoins/dogecoins

Started mining dogecoins and I did a little bit of mining of bitcoins in the past. Always have wondered what my computer is actually doing when its mining, but everything I find is super technical and I cant understand it :/
submitted by KarmannGhiaGirl to explainlikeimfive [link] [comments]

Question: All I can find about what you're doing when mining for bitcoin is "solving cryptographic problems" - what does this even mean?

Forgive me if I'm overlooking something really obvious - but I've been seeing buzz about bitcoin and bitcoin "mining" using GPU power, so I'm thinking to myself "Okay, what is this GPU power being used for? Something like [email protected]?"
Googling around and reading, all I can find is that the GPUs are contributing to "finding a solution to a cryptographic problem"...
What problem(s) are being solved, exactly? It seems a bit weird and nebulous to just say you're solving cryptographic problems. Is the end result decrypting some encrypted data? What is that data?
Obviously this is a little out there - but for all I know, the bitcoin mining is ultimately helping someone decrypt some massive data store (stolen accounts, who knows what?) ... I'm guessing it's not that, but there's so little detail on what cryptographic problem you're looking for the solution to that it's a little strange to me...
submitted by honestbleeps to Bitcoin [link] [comments]

My friend wants to start mining bitcoins and has no idea what he is doing...

Is there anything I can tell him about what he should realistically expect to make from doing this? He has this idea that he is going to get a $2,500 miner from butterfly labs and make $9,000 a month mining bitcoins. He is trying to sell everything he owns to begin his mining adventure. I think he is setting himself up for major failure.
He should do it if he wants, but, he's kind of an idiot. He can't explain what a bitcoin is or how it will be generated. I am hoping the experienced people of /bitcoin can help me give him a realistic idea what what he can expect. Any stories of your own experience with this would be great. He has no plans on joining a mining pool. He is cocksure that he can do this on his own and make a killing at it.
Thank you guys so much.
submitted by sedatemenow to Bitcoin [link] [comments]

What BU is doing by jeopardizing the hard earned coins of the early miners is despicable. The community should punish them severely. ASIC mining is nothing but "set it and forget it." For years, /r/Bitcoin

What BU is doing by jeopardizing the hard earned coins of the early miners is despicable. The community should punish them severely. ASIC mining is nothing but submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Released my 2nd motion design video! Why is China Banning Bitcoin Mining and The Environmental Impacts of Bitcoin. What do you guys think of the motion design? Thank you!

Released my 2nd motion design video! Why is China Banning Bitcoin Mining and The Environmental Impacts of Bitcoin. What do you guys think of the motion design? Thank you! submitted by Thoughtmosphere to MotionDesign [link] [comments]

What Is a bitcoin and how do you mine one?

submitted by DocterDaking to AskReddit [link] [comments]

This is 5meg of hard drive in 1956 price 50k, IBM sold a thousand of it! So now think about mining BitAnt etc, what do you think would be the future of Bitcoin mining in 15 years?

This is 5meg of hard drive in 1956 price 50k, IBM sold a thousand of it! So now think about mining BitAnt etc, what do you think would be the future of Bitcoin mining in 15 years? submitted by sous_rire to Bitcoin [link] [comments]

#crypto #cryptonews #bitcoin @nocroom #What happens if China gov takes control of the mining pools? Will BTC core devs do an emergency fork? Anyone worried about this given that China is soon to launch their own digital yuan?

#crypto #cryptonews #bitcoin @nocroom #What happens if China gov takes control of the mining pools? Will BTC core devs do an emergency fork? Anyone worried about this given that China is soon to launch their own digital yuan? submitted by PooPoster1 to Cryptoandme [link] [comments]

What is Bitcoin Mining and How Do I Get Started? - George Levy 7 DAY$-24/HR$ - BITCOIN MINING EXPERIMENT - See How Much ... The what is bitcoin mining actually doing bitcoin report The what is bitcoin mining actually doing what is bitcoin training Is Bitcoin Mining Profitable RIGHT NOW In Early 2020 ...

Free bitcoin mining is the most popular way of making money and getting richer. Freemining uses the latest technology and mining hardware to providing bitcoin mining free. Join our partner program and earn huge money. Minimum Withdraw 0.005 BTC. Everyday payout. Payment is directly sent to your bitcoin wallet address. Fast, Secure & High Profit. Start mining with a fast and secure cloud mining ... Bitcoin mining is the process of creating, or rather discovering, bitcoin currency. Unlike real-world money that is printed when more is needed, bitcoin cannot simply be willed into existence but has to be mined through mathematical processes. Bitcoin maintains a public ledger that contains past transactions, and mining is the process of adding new transactions to this ledger. Earn 4 Bitcoins ... Bitcoin mining is done by specialized computers. The role of miners is to secure the network and to process every Bitcoin transaction. Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions (hence Bitcoin’s famous “blockchain”).. For this service, miners are rewarded with newly-created Bitcoins and transaction fees. 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. By now, you might be asking yourself is that all Bitcoin miners are doing is mining Bitcoin, and the answer is no. Everything mentioned above is only scratching the surface of Bitcoin mining. Let’s take a look at what Bitcoin miners are actually doing to earn their mining rewards.

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What is Bitcoin Mining and How Do I Get Started? - George Levy

This video goes over my 7 day 1 week Bitcoin Mining experiment. I let my computer Mine for Bitcoin for a week straight, to see how much money I could generat... This video is unavailable. Watch Queue Queue. Watch Queue Queue How Bitcoin mining actually works - What is the "cryptographic puzzle"? - Duration: 14:13. Keifer Kif 78,184 views. 14:13. How to BitCoin mine using fast ASIC mining hardware - Duration: 27:15. ... WANT FREE STOCK FAST? CLICK LINK And CLICK "SIGN UP NOW"! 💲💲💲 http://join.robinhood.com/jareds7 ALL VIDEOS ARE ONLY REPRESENTATIVE OF MY OPINION. ONLY INVEST... http://bitcoins-millionaire.com/bitcoin-revolution/ What is Bitcoin You might be already aware of this NEW digital currency known as BITCOIN, you might have ...

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