What is bitcoin minning?

[Parasjain123]

Please expalin me what is this ? And how does this work

[hajimasan]

The primary purpose of mining is to allow
Bitcoin nodes to reach a secure, tamper-
resistant consensus. Mining is also the
mechanism used to introduce Bitcoins into
the system: Miners are paid any transaction
fees as well as a "subsidy" of newly created
coins. This both serves the purpose of
disseminating new coins in a decentralized
manner as well as motivating people to
provide security for the system.

[molsewid]

Based on my knowledge bitcoin mining is where you get bitcoin for free from a hash or the power of the machine power you get sometimes you get more depends on the hash power you had and as of now bitcoin mining ia not profitable right now fhere are plenty miner there that uses high powered bitcoin miner and we cant conaider our self as one.

[Aamir1]

Based on my knowledge bitcoin mining is where you get bitcoin for free from a hash or the power of the machine power you get sometimes you get more depends on the hash power you had and as of now bitcoin mining ia not profitable right now fhere are plenty miner there that uses high powered bitcoin miner and we cant conaider our self as one.

We cannot consider the bitcoins generated from mining as free because we have to invest a lot of money on hardwares and all those things we buy for mining, and mining is that when the machine with the maximum hash power keeps running until it finds a block which gives it a reward for that and like that you get bitcoins for you investment, that is what i know about it, and the more hashpower you machine has the higher chances would be of finding a block.

[Naficopa]

Please expalin me what is this ? And how does this work

It is very long story.. and if you really want to know what and how it is working you should read threads in Mining section:

https://bitcointalk.org/index.php?board=14.0

You can find there all details about mining. Good luck!

[Strongkored]

Please expalin me what is this ? And how does this work

as i know mining is get Bitcoin with machine you have and they call mining tools, you can buy the machine search in google join the pool and always active your machine, but for now if you want mining bitcoin you have much money to buy the machine cause the machine is expensive, and you will get a long time for ROI

[doomistake]

Mining bitcoins requires a hardware that is suitable for mining like a High end PC. ASIC is the one of the hardware that is being used by the bitcoin miners. Bitcoin mining is about solving math problems and algorithms and the miners are being paid by the block chain. Mining bitcoin is not that easy because it requires a lot amount of efforts and time, electricity and a stable fast internet connection. But since the price of the bitcoin right now is too low, the miners have stopped mining bitcoins because they are not getting anymore profit from it.

[Parasjain123]

Based on my knowledge Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate inmining.

[Distamod]

Based on my knowledge Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate inmining.

You use the bitcoin miners to verify the bitcoin transactions and include the new transaction to transmit to the network.

[jak3]

mining is kike a process which keeps generating new bitcoin - this is enough for a newbie but it is a process in which we uae our hardware power or so called hashes to solve network mathamatical problems or network blocks(which also consists of 20000-30000transactions) ar solved and once solve the miner gets block reward which is currently about 12btc and it also helps on verfiying the transactions

[Noctis Connor]

Please expalin me what is this ? And how does this work

Bitcoin mining is a primary use to earn bitcoin you are gonna use bitcoin hardwards of software to do mining to earn bitcoin from internet and you gonna need so much money to start with it because you need to build a bitcoin miner where you can start mining this is not a joke buildin a miner is really hard

[Aamir1]

Please expalin me what is this ? And how does this work

Bitcoin mining is a primary use to earn bitcoin you are gonna use bitcoin hardwards of software to do mining to earn bitcoin from internet and you gonna need so much money to start with it because you need to build a bitcoin miner where you can start mining this is not a joke buildin a miner is really hard

Its not hard as long as you have the money buy the equipments because the hardest part is to buy the hardwares or computers needed for mining otherwise there is not hard things in it, and also you should consider electricity costs of mining as it needs a lot of electricity.

[Mitchell]

There is a very good link in the General thread within this section. Please do some research before you ask questions.

Locking this thread.