How to mine??

[dodadoo]

someone can explain exactly how mining works?

Thx in advance..

[FUBAR-BDHR]

Very stripped down version.  You use hardware (now specialized ASIC hardware as computers are no longer fast enough) to solve blocks.  A block is solved by someone on average every 10 minutes.  You can do this either solo or in a pool.  Solo you may never hit a block.  With a pool (depending on size) blocks come more regularly and you get a share of the reward based on your contribution to the pool.  Once a block is found by your or your pool and is confirmed as valid you get your bitcoins to do what you want with. 

Now for the bad news.  As stated above you need special hardware which costs a lot of money.  On top of that you need very cheep electric to make it worth your while.  If you don't have these then it's cheaper to just buy the coins.

[zodiac3011]

well mining is just about using freaking complicated machines that will generate some long numbers and letters also known as hashes. Those hashes will be checked through the system if your hash is qualified first then you will solve the block and get the block reward. But the cold hard truth is the time you can solo-mine has passed long time ago. Now you should mine in a pool where everyone send their share to a pool if it's accepted (doesn't mean you solve the block), you will still receive some. If you are rich enough, you can try mining with ASIC (not regular maybe antminer S5-S7 or Spoondle (don't remember the name)) if you have free electricity that would be the best

[shintosai]

what type of mining solo or pol? if you do solo you need to have good electricity rate mining is too expensive now a days and not profitable if you it for btc but for some alts still you can earn, you also need to have some basic coding knowledge so can deal with updates.  much better to start with reading some info from the mining sec so you can have at least basic idea.

[Avirunes]

Solo you may never hit a block.

Well sometimes it can even with low difficulty but chances to hit a block is very low so it is better to give it up if you are with low hash rate.

When a bitcoin transaction is made ,it is recorded in list called "Blocks".These blocks are created for transaction recorded in a set of period.These transactions are unconfirmed.Now block is need to be confirmed which is done by miners to put up their mining power to do up calculations.they generate up hashes to confirm a block.Once a hash is correct to solve up a block miner gets a incentive of 25 BTC to keep up mining going.

Well it is better to go through google.
Read this:-

http://www.coindesk.com/information/how-bitcoin-mining-works/&ei=2bUClWob&lc=en-IN&s=1&m=401&host=www.google.co.in&ts=1459054538&sig=APY536yuvlpohjO1TN1UDJU3R-oZEroGNQ

https://en.bitcoin.it/wiki/Mining&ei=2bUClWob&lc=en-IN&s=1&m=401&host=www.google.co.in&ts=1459054538&sig=APY536xEweGgg3O2LTyTomv8kjvUnYHdDA

[zodiac3011]

Solo you may never hit a block.

Well sometimes it can even with low difficulty but chances to hit a block is very low so it is better to give it up if you are with low hash rate.

When a bitcoin transaction is made ,it is recorded in list called "Blocks".These blocks are created for transaction recorded in a set of period.These transactions are unconfirmed.Now block is need to be confirmed which is done by miners to put up their mining power to do up calculations.they generate up hashes to confirm a block.Once a hash is correct to solve up a block miner gets a incentive of 25 BTC to keep up mining going.

Well it is better to go through google.
Read this:-

http://www.coindesk.com/information/how-bitcoin-mining-works/&ei=2bUClWob&lc=en-IN&s=1&m=401&host=www.google.co.in&ts=1459054538&sig=APY536yuvlpohjO1TN1UDJU3R-oZEroGNQ

https://en.bitcoin.it/wiki/Mining&ei=2bUClWob&lc=en-IN&s=1&m=401&host=www.google.co.in&ts=1459054538&sig=APY536xEweGgg3O2LTyTomv8kjvUnYHdDA

I totally agree. small miner can solve a block but it depends a lot on luck. If you are a hobbyist miner you can try solomining and you with like 100-500 GHs you can expect to find a block in 4-5 months maybe but lucks may come to you and you solve one in like a week or just some few days

[Amph]

you can use your graphic card to mine altcoin and get bitcoin, by selling those altcoin on the exchange

no need to waste money on asic nowadays with ethereum and decred, download a ccminer or sgminer and point it to any pool and you're done

[zodiac3011]

youc an use your graphic acard to mine altcoin and get bitcoin, by selling those altcoin on the exchange

no need to waste money on asic nowadays with ethereum and decred, download a ccminer or sgminer and point it to any pool and you're done

altcoin is indeed a good idea to mine but he may still have to invest some money to upgrade his graphic card to higher performance to be able to mine with a considerable speed. Maybe he doesn't have an AMD at all mining is always favored with AMD

[ranochigo]

A slightly more technical version.

Basically, mining is a process which helps to distribute Bitcoins evenly overtime and helps to counter double spending. Blockchain is a ledger with blocks of transactions. When a transaction is broadcasted, it goes to node's and miner's mempool and wait there for miners to include it into a block. During the generation of a block, mining pool or a miner would first assemble a set of transactions and a coinbase transaction to calculate the merkle root for it to be used in the block header. A coinbase[1] transaction consist of the block reward (currently, 25BTC) and the transaction fees of the transactions in the block. These coins are sent to a set of address or a single address. Next, the block header is then filled with other data and the miner would start hashing. The miner would increase the nonce till it finds a hash that fulfills the target requirement. If the miner doesn't find a block that is good, the miner would change some values in the block header.

At first, CPU mining was the only way and people gradually started to use GPU to mine. Currently, both are obsolete and miners uses ASICs to mine. To profit, one has to own a large number of ASICs with low electrical cost to yield profit.

[1] https://www.blocktrail.com/BTC/tx/bc76839a95aab62c5f21427d1b1a41624f1b3ccd15fb3d67567142c8dd321d8f

[BitMaxz]

youc an use your graphic acard to mine altcoin and get bitcoin, by selling those altcoin on the exchange

no need to waste money on asic nowadays with ethereum and decred, download a ccminer or sgminer and point it to any pool and you're done

altcoin is indeed a good idea to mine but he may still have to invest some money to upgrade his graphic card to higher performance to be able to mine with a considerable speed. Maybe he doesn't have an AMD at all mining is always favored with AMD

Not only amd can mine altcoin you can also mine in nvidia intel and CPU mining.. but the best and high performance and high speed mining you can use is amd. amd is the best use in altmining because its cheap and you can buy more high speed amd GPU..

[arseaboy]

youc an use your graphic acard to mine altcoin and get bitcoin, by selling those altcoin on the exchange

no need to waste money on asic nowadays with ethereum and decred, download a ccminer or sgminer and point it to any pool and you're done

altcoin is indeed a good idea to mine but he may still have to invest some money to upgrade his graphic card to higher performance to be able to mine with a considerable speed. Maybe he doesn't have an AMD at all mining is always favored with AMD

Not only amd can mine altcoin you can also mine in nvidia intel and CPU mining.. but the best and high performance and high speed mining you can use is amd. amd is the best use in altmining because its cheap and you can buy more high speed amd GPU..

can you give us detailed tut on how this works and what apps do we need to do mining? i have i7 laptop with 940 nvidia built in cards is this device can still be profitable if I use it to mine alt? I hope you can atleast guide us where to start so me and OP would learn. thank you in advance.

[GermanGiant]

someone can explain exactly how mining works?

Thx in advance..

Do u own the gambling website dodadoo ? If yes, then it is hilarious that u r asking how mining works...

[Hamphser]

It is still profitable to mine Ethereum at present.

[Amph]

youc an use your graphic acard to mine altcoin and get bitcoin, by selling those altcoin on the exchange

no need to waste money on asic nowadays with ethereum and decred, download a ccminer or sgminer and point it to any pool and you're done

altcoin is indeed a good idea to mine but he may still have to invest some money to upgrade his graphic card to higher performance to be able to mine with a considerable speed. Maybe he doesn't have an AMD at all mining is always favored with AMD

nowadays everyone has access to an high end gpu because he have bought it for gaming, so with some luck he can earn money with it and buy new graphic card with the earning from the first gpu that he already have

[Snorek]

I wouldn't bother with mining anymore. If you are a total newbie and want to try is because you heard it is good money for basically doing noting - it's not.
Even mining altcoins if you have no dedicated rig for it are not good. Couple reasons why mining profitability tend towards zero:

http://bitcoin.stackexchange.com/questions/2154/why-does-mining-profitability-tend-towards-zero

[FruitsBasket]

You can mine litecoins or any other good altcoin with a solid/good gpu.
Litecoins are anti asic, which means that gpu mining is the best for litecoin, which is also not that expensive.

So if you want to make some profit, look into litecoin mining instead of bitcoin mining.

[ranochigo]

You can mine litecoins or any other good altcoin with a solid/good gpu.
Litecoins are anti asic, which means that gpu mining is the best for litecoin, which is also not that expensive.

So if you want to make some profit, look into litecoin mining instead of bitcoin mining.

There are Scrypt ASICs for Litecoin. GPU mining for litecoin is also dead.

[FruitsBasket]

You can mine litecoins or any other good altcoin with a solid/good gpu.
Litecoins are anti asic, which means that gpu mining is the best for litecoin, which is also not that expensive.

So if you want to make some profit, look into litecoin mining instead of bitcoin mining.

There are Scrypt ASICs for Litecoin. GPU mining for litecoin is also dead.

Seriously?
I watched a video yesterday that was about litecoin mining that it was a profitable solution for cpu/gpu...
What coin is then good to bee mined with gpu?

[Ardenyham]

You can use sites like Betarigs but that's only if you mine coins which you know are going to give you profit else it's costly...

[traitrkng]

If you have some Ati's you can consider mine etherum.
Probably you need to change the power supply to something more efficient  like gold/platinum power supply

But with a reasonable video graphic card you don't need much power.
Also run the miner under linux it's more convenient, with properly driver installed