Bitcoin Forum

First of all excuse me if you think its a noob question, but consider me a noob as I am trying to understand.

I've got a couple of questions about mining, (which I think fits in bitcoin section rather than the mining section)

First: Why do bitcoin needs mining?
Second: What do they actually mine?

The quick rundown for this is that in order to confirm a block (which contains transactions, which is why you get x confirmations for transactions you make), they need to find a specific alpha-numeric code which is "mined". Once this is found, they then confirm that block and rotate the next one in, confirming more transactions as they go along.

As a reward, the pool to find the block is rewarded with Bitcoins to distribute.

https://en.bitcoin.it/wiki/Mining
www.coindesk.com/information/how-bitcoin-mining-works/

with questions like this, which are about the basics of bitcoin, it is best if you use google to find the answers. preferably read bitcoin wiki first and when you find parts you don't understand or raise questions for you then ask here.

Bitcoin is like a gold, bitcoin have its own mining reg so many high end drive mining bitcoins to mine bitcoin or to get a bitcoin unfortunately now days there are so many bitcoin miner all over the world that make it harder to mine bitcoin.
So why they are mining because it is one of the best way to earn bitcoin is through mining that's one of the easiest way you just need to investments and 2nd because they want money exchange through bitcoin  or a good profit.

Please don't follow this explanation below. The term "mining" is just an analogy that aligns with our existing understanding of how precious metals are found. Bitcoin needs to be created, computers verify transactions of bitcoin and as a result they earn bitcoin...that's overly simply, but the gist. See the link i shared below.


Here's a site that claims to offer everything you need to know about Bitcoin mining: https://www.bitcoinmining.com/ (https://www.bitcoinmining.com/)

mining is done to add transaction to the blockchain which then need to be confirmed, miners ensure the security of the network

miners mine new generated blocks, that is generated every time the previous block is solved, and they are rewarded for this of course, with an amount that is halved every 4 years

i still feel that satoshi should have come up with somethigng different than fee as a way to keep the mining reward forever, which is causing all sort of trouble with capacity, and also i would like that node are rewarded for their support

I am a noob too, but I think...

bitcoin need mining because every sending bitcoin and transaction bitcoin need find block, without people mining i think transaction is big problem, you known about accelarate transaction, mining company open service and can incraese fast transaction confirmation with txt id in use mining service

First: To add new transactions in blockchain. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
Read more here: https://en.bitcoin.it/wiki/Mining

Second: Bitcoin uses the hashcash Proof_of_work function as the mining core. All bitcoin miners whether CPU, GPU, FPGA or ASICs are expending their effort creating hashcash proofs-of-work which act as a vote in the blockchain evolution and validate the blockchain transaction log.
Read more here : https://en.bitcoin.it/wiki/Hashcash

In my opinion here is my answers:

First: Bitcoin needs mining to have a supply for the market and to supply the demand of the buyers or investors in the different kind of exchange and have a complete circulation of bitcoin.

Second: They mine bitcoin because they find it profitable by mining bitcoin 24/7 and also for confirming different kind of transactions online.

bitcoin like the future to be achieved why because like gold and the price will go up in the long term.
weeks to get this bitcoin bitcoin miners unfortunately now many around the world which makes it difficult to get her.
if it was easy for sure many want mined, all that there is no excess of his weakness and that excess bitcoin him like gold should we be right.

It depends on you dude,if u want to earn in very small and insignificant amount u can use faucets and these forums,but people who have considered earning bitcoin as their job have to mine,mining needs a lot investment and u earn in great quantity,it is generally done by a group of people and not an individual

bookishly speaking-Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions.

but to simply understand it is a process in which u earn in a lot,but the set up and ure basic investement should be huge too 8) 8) :D

mining is the most important part of bitcoin. because by doing a number of bitcoin mining will continues generate and grow up to the specified number. if no mining then we will never know bitcoin.

So mining is required to confirm the transactions, but how the bitcoin which is being sent/received in that transaction was created in the first place?
Which I had assumed before from the mining analogy was that mining creates bitcoin.

Bitcoin is trying to mimic a real business where you get paid for your work. That's why you have to invest first, work then, and you get paid for your efforts.

The creator wanted bitcoin to be a business which is available to everybody in the world, that's why we were using CPU's and GPU's in early days of mining. Everybody knows about bitcoin should also have a Laptop/PC in the end.

But then some clever fucks took advantage of this system and they come up with ASIC miners, specialized for bitcoin mining and have absolutely no other use. (maybe heating)

It all went shit afterwards. Those miners are being made by big companies Right now there are only 2 companies i know: Bitmain and Bitfury. And Bitfury makes products only for special requests, means they no good for home users.

This mining stuff supposed to make bitcoin decentralized but after big companies kicked in, that idea is failed.

Governments print more money from thin air and then they transfer that money to banks and these banks then have central control over that

money on their internal ledger systems. { To see who owns what amount, linked to what account } Bitcoin does not have a central service or

server to do this, so they use a decentralized network of nodes to solve complex mathematical algorithms to generate coins and then the

distribution log / transfer of these coins are stored on a decentralized Blockchain that are stored on these nodes.  ;)

That is the simple and easy version of this ..... it gets a lot more technical.  ;D

You are probably best off Googling these exact questions... or search in youtube. What you find there will probably explain faster and easier than what people type in this forum. At least if you just want some quick facts and to know the basics.

Well Bitcoin needs mining to secure the network and it is where Bitcoin is created, by solving blocks and move it.  It is also important to confirm transactions.  And they mine block of mathematical equation which, whoever solved first will get the reward of that block.