i'm a newbie in bitcoin please explain to me what is mining??

[ouss100]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

[VirosaGITS]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Basically its the method of verifying transaction. Miners have their ASIC find hashes at random that try to meet a certain requirement. When a block is found, transactions are included and thus confirmed + everything that was confirmed before, that is the blockchain. The miners get the fees as bonus included with the current 25BTC per blocks.

Check these videos too if you haven't;
https://www.youtube.com/watch?v=ZT26y_l-jtI
https://www.youtube.com/watch?v=Gc2en3nHxA4

[Mickeyb]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Basically its the method of verifying transaction. Miners have their ASIC find hashes at random that try to meet a certain requirement. When a block is found, transactions are included and thus confirmed + everything that was confirmed before, that is the blockchain. The miners get the fees as bonus included with the current 25BTC per blocks.

Check these videos too if you haven't;
https://www.youtube.com/watch?v=ZT26y_l-jtI
https://www.youtube.com/watch?v=Gc2en3nHxA4

Also to add to this, you won't earn anything from mining. To start earning from mining you need to have a lot of money to invest into miners and a very cheap electricity.

Mining today is done by the mining farms of specialized Asics mining computers that are built only for this, for mining bitcoins. And these farms are mostly in countries with cheap electricity, e.g. China etc..

[ranochigo]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Mining is a process which generates new Bitcoins till 2140 and ensuring a maximum supply of 21million. Mining used to be done by CPU or GPU. People have invented a machine which only mines for Bitcoin, called ASICs. The mining pool or the miners assemble a set of transaction in random order and calculates the merkle root to be used in the block header. If the block would only contain the coinbase transaction (the block reward), the merkle root would be the hash of the coinbase transaction. The block headers would then be populated with other necessary data and the miner would then start solving for the block. Block header is hashed and nonce is increased till the block header is lower than the current target. The miner would then proporgate the block to the entire network.

[Amph]

to earn bitcoin with mining you need

cheap electricity no more than 0.2(only with antminer S7, is an asic device), better to stay around 0.5-0.1

asic device, dedicated miners, it's like a computer that mine bitcoin and nothing else, S7 is the most efficient but require aorund 8 btc as initial investment

to speed up your roi, you need to sell your miners at halfway through your roi, around 4-5 months

[hilariousandco]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Was it actual bitcoin mining or cloud mining? Both are different but I'd leave both alone. Something tells me if you saw an advert you probably saw one for cloud mining which often are scams or pyramid schemes.

[Possum577]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

So many responses and no one has pointed you to the resources available on this forum.

Have you spent much time reading threads in the mining section of this Forum? Here's the link -> https://bitcointalk.org/index.php?board=14.0

You'll probably find a lot of good information, happy reading!

[ikydesu]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Nowadays, mining bitcoin is need a lot hash and cheap/free electric bills.
https://en.bitcoin.it/wiki/Mining
For your reference about mining hardware: https://en.bitcoin.it/wiki/Mining_hardware_comparison or surfing on mining section on this forum.
For your reference about cryptocurrency mining difficult: http://www.coinwarz.com/cryptocurrency
For reference about cloudmining: https://bitcointalk.org/index.php?topic=878387.0 you need research first before invest in cloudmining.

[Ceizer54]

Mining is a way by which new bitcoins are generated and bitcoin transactions are verified in the blockchain...
Currently bitcoin mining is a very competitive bussiness...You can't mine on a home PC because if you do it will be useless..ASIC's are designed specially for mining purposes but then again you need a super solid cheap electricity if you want to mine bitcoins else i would advice look for another way to get your hands on bitcoins

[CanIHazBitcoin777]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Mining = minting bitcoin.

But mining bitcoin is helping to stabilize the network and maintain it. It's like a maintenance tax, that is necessary to keep bitcoin alive.

Miners get rewarded by this, and its very profitable , but only for big miners not small ones

[VirosaGITS]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Mining = minting bitcoin.

But mining bitcoin is helping to stabilize the network and maintain it. It's like a maintenance tax, that is necessary to keep bitcoin alive.

Miners get rewarded by this, and its very profitable , but only for big miners not small ones

I'm small, and its profitable, you just need to do it in the right conditions. The miners get all the TX Fee and the block reward and i get a self satisfying part of it with my home mining.

[CanIHazBitcoin777]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Mining = minting bitcoin.

But mining bitcoin is helping to stabilize the network and maintain it. It's like a maintenance tax, that is necessary to keep bitcoin alive.

Miners get rewarded by this, and its very profitable , but only for big miners not small ones

I'm small, and its profitable, you just need to do it in the right conditions. The miners get all the TX Fee and the block reward and i get a self satisfying part of it with my home mining.

Depends how much electricity costs, in my zone it costs alot, we pay like 40% taxes on it, it sucks 

But you can still mine like altcoins profitable ?

[Hellacopter]

As you can see many replies with rich informations about mining.
I suggest also that you check this
https://bitcointalk.org/index.php?board=14.0
Here you can find a lot about mining Bitcoin and it could help you .

[VirosaGITS]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Mining = minting bitcoin.

But mining bitcoin is helping to stabilize the network and maintain it. It's like a maintenance tax, that is necessary to keep bitcoin alive.

Miners get rewarded by this, and its very profitable , but only for big miners not small ones

I'm small, and its profitable, you just need to do it in the right conditions. The miners get all the TX Fee and the block reward and i get a self satisfying part of it with my home mining.

Depends how much electricity costs, in my zone it costs alot, we pay like 40% taxes on it, it sucks 

But you can still mine like altcoins profitable ?

There is not much difference for Altcoin and Bitcoin. They are both crypto so would both should counted the same here. Profitability for Altcoin isint really higher than BTC ASIC. Its mostly that it let you do something with your GPU hardware, sometime CPU as well.

With the high cost of GPU and its high electricity usage, its even more prone to being unprofitable if you do not have dirt cheap electricity.

[CanIHazBitcoin777]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Mining = minting bitcoin.

But mining bitcoin is helping to stabilize the network and maintain it. It's like a maintenance tax, that is necessary to keep bitcoin alive.

Miners get rewarded by this, and its very profitable , but only for big miners not small ones

I'm small, and its profitable, you just need to do it in the right conditions. The miners get all the TX Fee and the block reward and i get a self satisfying part of it with my home mining.

Depends how much electricity costs, in my zone it costs alot, we pay like 40% taxes on it, it sucks 

But you can still mine like altcoins profitable ?

There is not much difference for Altcoin and Bitcoin. They are both crypto so would both should counted the same here. Profitability for Altcoin isint really higher than BTC ASIC. Its mostly that it let you do something with your GPU hardware, sometime CPU as well.

With the high cost of GPU and its high electricity usage, its even more prone to being unprofitable if you do not have dirt cheap electricity.

Are you sure, i`ve saw tons of scam altcoins, that are just ultra mined out, then dumped at lowest prices.

An average miner could earn 200$/day from day easily with 1 asic. Just check the altcoin section and see waht i`m talking about...

[notlist3d]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Mining = minting bitcoin.

But mining bitcoin is helping to stabilize the network and maintain it. It's like a maintenance tax, that is necessary to keep bitcoin alive.

Miners get rewarded by this, and its very profitable , but only for big miners not small ones

I'm small, and its profitable, you just need to do it in the right conditions. The miners get all the TX Fee and the block reward and i get a self satisfying part of it with my home mining.

Depends how much electricity costs, in my zone it costs alot, we pay like 40% taxes on it, it sucks 

But you can still mine like altcoins profitable ?

There is not much difference for Altcoin and Bitcoin. They are both crypto so would both should counted the same here. Profitability for Altcoin isint really higher than BTC ASIC. Its mostly that it let you do something with your GPU hardware, sometime CPU as well.

With the high cost of GPU and its high electricity usage, its even more prone to being unprofitable if you do not have dirt cheap electricity.

Even with dirt cheap electricity you might make more then it's costing to run.  But that is far from making a ROI on those GPUs.   Even if you had "free" electricity I don't think you will recover GPU costs anytime soon.

Just is a game of asics for the most part today.  Anything an asic can mine they will crush GPU's.

[VirosaGITS]

as it says i'm 100% noob to this bitcoin word i have seen some ads talking about bitcoin mining and wasn't able to understand it 
could you please explain to me what is that mining and how to earn bitcoins from it
thanks 

Mining = minting bitcoin.

But mining bitcoin is helping to stabilize the network and maintain it. It's like a maintenance tax, that is necessary to keep bitcoin alive.

Miners get rewarded by this, and its very profitable , but only for big miners not small ones

I'm small, and its profitable, you just need to do it in the right conditions. The miners get all the TX Fee and the block reward and i get a self satisfying part of it with my home mining.

Depends how much electricity costs, in my zone it costs alot, we pay like 40% taxes on it, it sucks 

But you can still mine like altcoins profitable ?

There is not much difference for Altcoin and Bitcoin. They are both crypto so would both should counted the same here. Profitability for Altcoin isint really higher than BTC ASIC. Its mostly that it let you do something with your GPU hardware, sometime CPU as well.

With the high cost of GPU and its high electricity usage, its even more prone to being unprofitable if you do not have dirt cheap electricity.

Even with dirt cheap electricity you might make more then it's costing to run.  But that is far from making a ROI on those GPUs.   Even if you had "free" electricity I don't think you will recover GPU costs anytime soon.

Just is a game of asics for the most part today.  Anything an asic can mine they will crush GPU's.

I roi'd my 280x already. Back in the GPU scrypt era, i would make 1-2$ per, per day. At the moment i make 1$ per~ and have made 2-4$ per for one month before it went down again recently.

They are long roi'd and are probably almost at 100% return after break even.

But sometime, you just gotta shut them off. For most of 2015 the return per GPU was 20-25cents per, per day. For the electricity they consumed, it would have been more efficient to run S3's or even S1s.

So GPUs are really a exclusive thing. You need to either have a miner/kernel that let you mine at high speed than others. Or you just get the good stuff when they come up and then let them rest or sell them.

[notlist3d]

I roi'd my 280x already. Back in the GPU scrypt era, i would make 1-2$ per, per day. At the moment i make 1$ per~ and have made 2-4$ per for one month before it went down again recently.

They are long roi'd and are probably almost at 100% return after break even.

But sometime, you just gotta shut them off. For most of 2015 the return per GPU was 20-25cents per, per day. For the electricity they consumed, it would have been more efficient to run S3's or even S1s.

So GPUs are really a exclusive thing. You need to either have a miner/kernel that let you mine at high speed than others. Or you just get the good stuff when they come up and then let them rest or sell them.

I ROIed on all of my GPU's aswell.   But I choose to sell them and go into asics.    Just for me I thought was best bet.

I did not get the crazy pricing GPUs had during height.  But I got a good amount still for my 270/280's.   Kept very few of them as it was great profit selling ontop of ROI.  So was pretty amazing mining back then.

[VirosaGITS]

I roi'd my 280x already. Back in the GPU scrypt era, i would make 1-2$ per, per day. At the moment i make 1$ per~ and have made 2-4$ per for one month before it went down again recently.

They are long roi'd and are probably almost at 100% return after break even.

But sometime, you just gotta shut them off. For most of 2015 the return per GPU was 20-25cents per, per day. For the electricity they consumed, it would have been more efficient to run S3's or even S1s.

So GPUs are really a exclusive thing. You need to either have a miner/kernel that let you mine at high speed than others. Or you just get the good stuff when they come up and then let them rest or sell them.

I ROIed on all of my GPU's aswell.   But I choose to sell them and go into asics.    Just for me I thought was best bet.

I did not get the crazy pricing GPUs had during height.  But I got a good amount still for my 270/280's.   Kept very few of them as it was great profit selling ontop of ROI.  So was pretty amazing mining back then.

Well a bit over one month ago, i had people offering me 125$-150$ per GPU, In the end since then i made about that much per GPU with Ethereum, before the price crashed. The reason i ended up not selling was quite a few was acting all scammy and stuff. (Rest was price way too low) And also the hassle of packaging the whole rig back into pieces.

It was only for a short while but it made me wonder if i shouldn't just keep it handy since all in all 15$US per day for 1150W was pretty good. Now its 5$~ per day, its about the efficiency of S5's. Its not yet back to the usual 1.5$ per day from X11~ 2 months ago.