Bitcoin Forum

Other => Beginners & Help => Topic started by: Wardtr on September 21, 2017, 12:48:30 AM



Title: what bitcoin mining really means
Post by: Wardtr on September 21, 2017, 12:48:30 AM
Bitcoin mining is really exciting to me. But what exactly is it doing? What are the hashes it's ... cracking? Where do they come from? I don't exactly understand that aspect of it. It seems like you're using your resources to obtain another valuable resource just as gold mining, but that's easier to understand


Title: Re: what bitcoin mining really means
Post by: HabBear on September 21, 2017, 05:12:49 AM
Good questions, friend. You should ask them to the folks that lurk around the Mining board (https://bitcointalk.org/index.php?board=14.0) on this forum.

It seems like you're using your resources to obtain another valuable resource just as gold mining, but that's easier to understand

This comment of yours is exactly true. And you need to make sure that the spend of resources is going to return to you enough of the "another valuable resource".


Title: Re: what bitcoin mining really means
Post by: mx667 on September 21, 2017, 07:16:37 AM
Yes it is. But for people like me, that question become priority number 2.
Priority number 1 is how to mine at it's best. And profit at it's best.


Title: Re: what bitcoin mining really means
Post by: WolfGear on September 21, 2017, 07:59:27 AM
Hope this article help you a lot in understanding Bitcoin mining : https://99bitcoins.com/bitcoin-mining-profitable-beginners-explanation/  ;D


Title: Re: what bitcoin mining really means
Post by: Sehorn 666 on September 21, 2017, 08:28:23 AM
Solve some hard equations it is like destroy  rockets that save bitcoin and gain bitcoins


Title: Re: what bitcoin mining really means
Post by: Wardtr on September 21, 2017, 08:41:40 AM
Hope this article help you a lot in understanding Bitcoin mining : https://99bitcoins.com/bitcoin-mining-profitable-beginners-explanation/  ;D
thank you very mush this is helpful :D ::)


Title: Re: what bitcoin mining really means
Post by: xSkylarx on September 21, 2017, 12:29:28 PM
Bitcoin mining is when you will buy a hardware that is designed to mine bitcoins and when you bought it then you need to set it up and you will be able to mine bitcoins which is a really great way to have a passive income but it is not fast profit kind of investment because you need to wait for the ROI to say that you are really earning in mining.


Title: Re: what bitcoin mining really means
Post by: monkeydominicorobin on September 22, 2017, 12:51:49 AM
Bitcoin mining is really exciting to me. But what exactly is it doing? What are the hashes it's ... cracking? Where do they come from? I don't exactly understand that aspect of it. It seems like you're using your resources to obtain another valuable resource just as gold mining, but that's easier to understand

When you encounter the words. Bitcoin Network. It doesn't mean multi-level marketing. It is a real network of computers created by ordinary and talented people whose aim is to make transactions within the network possible. Auditing or in other words MINING is not as simple as mutualism. Some people are not  in it to earn. They are there because they believe that they can make Bitcoin transactions reliable by auditing or again mining. It is the basic reason why Bitcoin grew to what it is today. Mining made it happen by adding reliability to the transactions. 


Title: Re: what bitcoin mining really means
Post by: Yoko 666 on September 22, 2017, 07:33:58 AM
move your ask to mining site but as general it hardware work with high power supply and noisy you can solve math equation and get bitcoin


Title: Re: what bitcoin mining really means
Post by: CarlOrff on September 22, 2017, 02:46:24 PM
Bitcoin mining is really exciting to me. But what exactly is it doing? What are the hashes it's ... cracking? Where do they come from? I don't exactly understand that aspect of it. It seems like you're using your resources to obtain another valuable resource just as gold mining, but that's easier to understand
Mining is to transform electricity value to Bitcoin.
It's making with a lot of expensive hardware : ASICs for Bitcoins (generally GPUs for altcoins).
Mining is for securized the blockchain.


Title: Re: what bitcoin mining really means
Post by: Rotsor on September 23, 2017, 12:54:23 PM
There are two types of mining, mining with a full node which is the act of validating and constructing new blocks, and hashing which is the act of solving proof-of-work problems.


Title: Re: what bitcoin mining really means
Post by: Mike Mayor on September 23, 2017, 09:47:01 PM
As blocks are released on the blockchain transactions wre attached to each block. Processing power is needed to orocess the transactions. This processing power is measured in hashrate. Each algorithm has its own hashrate and is measured differently. The higher the hashrate the faster the transactions are done. :)


Title: Re: what bitcoin mining really means
Post by: Rotsor on September 24, 2017, 04:57:27 AM
Bitcoin mining has two types. One is with a full node and that is the act of validating and constructing new blocks, and two is hashing which is solving proof-of-work problems.


Title: Re: what bitcoin mining really means
Post by: Isaac 666 on September 24, 2017, 07:47:44 AM
move your all your asks to mining form



mining is away to get new bitcoin and mining will be end at 2100 will be so difficult every 4 years 


Title: Re: what bitcoin mining really means
Post by: calamansigalunggong on September 24, 2017, 08:09:06 AM
bitcoin mining or in other words auditing.
it also makes the blockchain reliable and secure


Title: Re: what bitcoin mining really means
Post by: kpm82733 on October 01, 2017, 01:56:47 PM
Mining is digging bitcoin, but most miners only dig because they are easy to dig. Bitcoins are different from big miners or having a big business to dig because digging a coin is hard. That was my thought 


Title: Re: what bitcoin mining really means
Post by: deadthings on October 01, 2017, 06:10:25 PM
Hope this article help you a lot in understanding Bitcoin mining : https://99bitcoins.com/bitcoin-mining-profitable-beginners-explanation/  ;D
Ohhhh nice article. Everything will be easier to understand for begginers. Didn't know about it earlier.