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Author Topic: A late newb asks how mining is done.  (Read 425 times)
Jpsln
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February 08, 2017, 08:21:01 AM
 #1

I have to admit that some of the jargon out there eludes me. I'm not a techno-whiz, AT ALL, and maybe that's a bad thing here.

That said, can someone point me to a succinct tutorial that makes it clear what's involved in bitcoin mining, preferably in simple language?

 
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zend7
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February 08, 2017, 10:10:23 AM
 #2

I have to admit that some of the jargon out there eludes me. I'm not a techno-whiz, AT ALL, and maybe that's a bad thing here.

That said, can someone point me to a succinct tutorial that makes it clear what's involved in bitcoin mining, preferably in simple language?

 

Solving algorithms. It takes a really long time to show you a in depth explanation tutorial so I am pointing you to the youtube video series of mining. I am a firm believer that you learn much more when you are looking at the topic that you are interested being done in real time rather than reading tutorials, although I know this differs from person to person.

https://www.youtube.com/results?search_query=bitcoin+mining

Don't give attention to the first video, all others are related to your question.
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February 08, 2017, 10:31:37 PM
 #3

If you want to join the mining scene to actually mine bitcoin, I would advise against that. The days that you could get a profitable mining farm easily are over.
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February 09, 2017, 02:10:37 PM
 #4

If you're interested in mining even tho bitcoin mining is not that easy at this time, you might want to choose from some alt-coins.
There are a lot of youtube guides on mining as well as what it is and how it works, unleast that's what helped me the most, So I'd suggest you to watch a few youtube vids to get the idea on what it is and how to do it. Good luck

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Zadicar
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February 09, 2017, 03:13:19 PM
 #5

If you're interested in mining even tho bitcoin mining is not that easy at this time, you might want to choose from some alt-coins.
There are a lot of youtube guides on mining as well as what it is and how it works, unleast that's what helped me the most, So I'd suggest you to watch a few youtube vids to get the idea on what it is and how to do it. Good luck
True,watching movies on youtube would really help you out regarding on mining bitcoin on how to set-it up and same as you said its not really an easy thing and also mining bitcoin nowadays isnt profitable already unless if you do have very very cheap electricity.


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DannyHamilton
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February 09, 2017, 05:08:45 PM
 #6

what's involved in bitcoin mining

That's a very generic question.  The answer will depend on what you mean by that.

Possible things you might be trying to ask:
  • What equipment do I need to buy if I want to mine on my own (not in a pool)?
  • How do I set up and configure the equipment that is needed to mine on my own (not in a pool)?
  • What maintenance do I need to perform and what do I need to monitor to be sure that I am maximizing my profits when I mine on my own (not in a pool)?
  • What equipment do I need to buy if I want to mine as part of a mining pool?
  • How do I set up and configure the equipment that is needed to mine as part of a mining pool?
  • What maintenance do I need to perform and what do I need to monitor to be sure that I am maximizing my profits when I mine as part of a mining pool?
  • What does the mining process actually do with regards to the transactions and blocks that are part of the bitcoin protocol?
  • What is involved in the process of building a bitcoin block header?
  • What is SHA256 and how is it calcualted?
  • What is a Merkle Root, and how is it calculated?
  • What is a nonce and how is it used?
  • How is the target difficulty calculated?
  • How accurate does the block timestamp need to be?
  • What values are adjusted between each block SHA256 attempt?

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