bitcoin mining

[rikfredsy]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

[Yakamoto]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

Sorry, what? What dark thing are you referring to?

You are mining to confirm transactions in the blockchain and make sure that the network is able to keep sending transactions back and forth. If people didn't mine, new blocks would not be created, and transactions would not be confirmed, and people could not send Bitcoin, or receive it. There would also be no new Bitcoins being created and sent into the network.

Your account says that you've been here for a relatively long time, I'm surprised that you don't know something like this.

[dimastegar]

There is nothing dark thing in bitcoin mining.

Bitcoin mining is Bitcoin mining is a process of mathematical calculations performed on Bitcoin networks. to mine BTC, computers with high specifications are needed.

[SONG GEET]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

You are senior member and you don't know about mining? 

There is Monetary benefit, miners will earn block reward plus transactions fee of all transactions included in the block which they will be able to mine.

[kpcian]

bitcoin mining is one of the best platforms regarding making money, day by day it is becoming a popular and profitable source of gaining profit. in India and China, bitcoin mining has gained huge popularity and many people are being involved in this section. bitcoin mining is the best possible stage to make double your capital within a short period of time.

[EXtremeAEX]

bitcoin mining is one of the best platforms regarding making money, day by day it is becoming a popular and profitable source of gaining profit. in India and China, bitcoin mining has gained huge popularity and many people are being involved in this section. bitcoin mining is the best possible stage to make double your capital within a short period of time.

Yup, totally true. The only dark side to mining is that you may risk spoiling your hardware (i.e. Overheating, or mining using laptop ). Also,if your country's electricity bill is relatively high, your rewards from mining may not be enough to cover the bill.

Thats how Bitcoin works. It rewards users (or machines) with Bitcoin for their computational power to verify transactions and to discover new blocks. The higher the price of Bitcoin, the higher the miner fees, and miners would get even more rewards, in additional to the 25 BTC per block found.

I am not so sure about how profitable mining is right now, but if you do not have a specialized BTC miner like ASICs, then do not try and mine with your regular computer and laptop, you might explode them. (the dark side)

[RedditMaster]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

No idea what you mean by "dark".

If your computer has been hacked, it is possible that it might be part of a "botnet", which is a network of hacked computers working for a hacker.

There are instances of large botnets mining Bitcoins while the owners of the infected computers remain unaware. Perhaps this is even happening to you... although as for normal mining, there is nothing dark about it.

[mindrust]

He is stuck in 2010 and still thinks that mining is being done by laptop/PC CPU's I guess. That's why he describes mining as a dark thing. (because it ruins regular PC's)

Dude that dark thing went away 5-6 years ago. You can have your own mechanical/electronical slaves to do the job for you now. They are called "ASIC"s and they mine bitcoins tirelessly. Come back to our time again. Wake up!

[Andre_Goldman]

bitcoin mining is one of the best platforms regarding making money, day by day it is becoming a popular and profitable source of gaining profit. in India and China, bitcoin mining has gained huge popularity and many people are being involved in this section. bitcoin mining is the best possible stage to make double your capital within a short period of time.

Yup, totally true. The only dark side to mining is that you may risk spoiling your hardware (i.e. Overheating, or mining using laptop ). Also,if your country's electricity bill is relatively high, your rewards from mining may not be enough to cover the bill.

Thats how Bitcoin works. It rewards users (or machines) with Bitcoin for their computational power to verify transactions and to discover new blocks. The higher the price of Bitcoin, the higher the miner fees, and miners would get even more rewards, in additional to the 25 BTC per block found.

I am not so sure about how profitable mining is right now, but if you do not have a specialized BTC miner like ASICs, then do not try and mine with your regular computer and laptop, you might explode them. (the dark side)

I think the equation to measure the mining profitability today is not much more different that the modern datacenters ...

[skyline247]

There is nothing wrong, or dark about mining. It can be difficult for complete beginner's to grasp, although mining rigs these days are being sold with pre-configured software which only requires a few simple inputs to get up and running.

With that said, you should not worry about mining at all. I don't know where you are getting dark from, but there is nothing to worry about when it comes to mining (just don't use your PC, those days are long gone!).

[dillpicklechips]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

Sorry, what? What dark thing are you referring to?

You are mining to confirm transactions in the blockchain and make sure that the network is able to keep sending transactions back and forth. If people didn't mine, new blocks would not be created, and transactions would not be confirmed, and people could not send Bitcoin, or receive it. There would also be no new Bitcoins being created and sent into the network.

Your account says that you've been here for a relatively long time, I'm surprised that you don't know something like this.

In other words, they mine blocks and transactions are included in it. If in some point in time that the blocks are totally mined, there will be no block reward anymore hence their income will be reliant to transaction fees.

You see, there is no dark thing here. Mining is not something trivial or shady.

[Amph]

uh the point is simple, to ensure the security of the network first, and for that you are rewarded with an amount of coins per block, there is no other reason

they obviously they turned it in a business but the idea was very simple, you do nothing and get paid, it's also profitable now with current price of bitcoin

but to be honest mining was always profitable

[Windpower]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

The point of mining is to earn money really. That is the reason most people do it. However, it is not very profitable at all when it is done in small configurations, however, huge mining farms earn a huge amount of money daily. I was watching a documentary about one just the other day and the electricity bill was 1 million dollars per month. Not kidding. Something dark on your computer? I don't think so. First of all, no one really uses their computers to mine Bitcoin, they use these things called ASICs, which are specially made just for Bitcoin mining, and mine Bitcoin at a much more powerful rate. The only dark thing that I can see, related to Bitcoin mining, is the fact that you are basically pushing your graphics card to the limit, and if you are using a laptop it is even worse. You run the risk of your hardware dying, or at least severely shortening it's lifespan.

[warrior333]

He is stuck in 2010 and still thinks that mining is being done by laptop/PC CPU's I guess. That's why he describes mining as a dark thing. (because it ruins regular PC's)

Dude that dark thing went away 5-6 years ago. You can have your own mechanical/electronical slaves to do the job for you now. They are called "ASIC"s and they mine bitcoins tirelessly. Come back to our time again. Wake up!

Cost of mining equipment now is that it is not known who becomes a slave. Perhaps people are slaves of equipment because its purchase you need to work, and then you don't know whether you'll get as many coins to recover their investments.

[mindrust]

He is stuck in 2010 and still thinks that mining is being done by laptop/PC CPU's I guess. That's why he describes mining as a dark thing. (because it ruins regular PC's)

Dude that dark thing went away 5-6 years ago. You can have your own mechanical/electronical slaves to do the job for you now. They are called "ASIC"s and they mine bitcoins tirelessly. Come back to our time again. Wake up!

Cost of mining equipment now is that it is not known who becomes a slave. Perhaps people are slaves of equipment because its purchase you need to work, and then you don't know whether you'll get as many coins to recover their investments.

I share your thoughts. I was writing my message to prove how wrong he is. I'm not into mining at all. Buying and holding always did the job nicely for me. The only interesting thing with mining is that you can actually vote for the future of your blockchain and that's it. The more hashpower you own, the more future you can decide.

On the other hand, some (like me) might see it as a design flaw because of the blockchain becoming centralized very easy by ASIC companies.

[YuginKadoya]

He is stuck in 2010 and still thinks that mining is being done by laptop/PC CPU's I guess. That's why he describes mining as a dark thing. (because it ruins regular PC's)

Dude that dark thing went away 5-6 years ago. You can have your own mechanical/electronical slaves to do the job for you now. They are called "ASIC"s and they mine bitcoins tirelessly. Come back to our time again. Wake up!

Cost of mining equipment now is that it is not known who becomes a slave. Perhaps people are slaves of equipment because its purchase you need to work, and then you don't know whether you'll get as many coins to recover their investments.

I share your thoughts. I was writing my message to prove how wrong he is. I'm not into mining at all. Buying and holding always did the job nicely for me. The only interesting thing with mining is that you can actually vote for the future of your blockchain and that's it. The more hashpower you own, the more future you can decide.

On the other hand, some (like me) might see it as a design flaw because of the blockchain becoming centralized very easy by ASIC companies.

But What is the thought for OP to post something like this, and the way they see it they are referring to mining as bad, it is like they don't have any idea how bitcoin really start, if there are no one that is mining bitcoin there is no block that could ever created that means no bitcoin at all, so referring as mining as dark and as not necessarily with bitcoin doesn't really know the history of bitcoin,

[Baby Dragon]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

The point of mining is to earn money really. That is the reason most people do it. However, it is not very profitable at all when it is done in small configurations, however, huge mining farms earn a huge amount of money daily. I was watching a documentary about one just the other day and the electricity bill was 1 million dollars per month. Not kidding. Something dark on your computer? I don't think so. First of all, no one really uses their computers to mine Bitcoin, they use these things called ASICs, which are specially made just for Bitcoin mining, and mine Bitcoin at a much more powerful rate. The only dark thing that I can see, related to Bitcoin mining, is the fact that you are basically pushing your graphics card to the limit, and if you are using a laptop it is even worse. You run the risk of your hardware dying, or at least severely shortening it's lifespan.

Mining will help you to gain bitcoin for free. However, it took to wait to gain that bitcoin. Some people do mining because they want to gain bitcoin without any hassle. As of now there is lot of people do mining and it is very effective. I think many people were happy because they get free bitcoin in mining sites.

[Dudeperfect]

There is nothing dark in it, it's just a process for calculation and since there are many other people involved in the exact same activity and exactly same network, the difficulty has increased drastically over the years and hence it takes time to earn mining rewards from it. However, if you are investing in cloud mining services then it is something that you should reconsider. Most of the cloud mining sites either turn out to be a loss making venture or scam after some period of time.

[Mylove risa]

bitcoin mining is one of the best platforms regarding making money, day by day it is becoming a popular and profitable source of gaining profit. in India and China, bitcoin mining has gained huge popularity and many people are being involved in this section. bitcoin mining is the best possible stage to make double your capital within a short period of time.

Bitcoin mining is a process of expending computing power to process transactions, secure networks, and keep everyone in the system synchronized together. This may be likened to Bitcoin data centers, except that it has been designed to be completely unfocused with miners operating in all countries and that no individual has control over the network. Bitcoin mining provides rewards as a form of exchange for the useful services necessary to operate a secure payment network. Mining will still be needed after the last bitcoin is published.

[sate_padang]

Bitcoin mining is useful for us to get bitcoin by using a computer, and in computer mining will work for 24 hours during mining is done.

[Script3d]

Bitcoin mining is useful for us to get bitcoin by using a computer, and in computer mining will work for 24 hours during mining is done.

your wrong bitcoin doesnt use the computer to mine its either the cpu or gpu of course you need a computer to mine bitcoin but mining with cpu or gpu is not worth anymore. mining doesnt stop unless you stop it.

[tokhang]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

YES! You are perfectly correct. There is no point to confirm transactions for the blockchain. There is no benefit for people running their computers all day for non-miners to send and receive bitcoins. And you are also correct there is something dark about bitcoin, it can eat your dogs so be careful.

[VayneAurelius]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

People tend to do mining when they are already succeed in their life through other way of getting bitcoin. But also others do it just to try on. So usually mining was used since they have money to invest such as system of their computer as well as the gas needed in mining. They can gain or collect bitcoin or other cryptocurrency without even doing anything just letting the computer mine it for you.

[Crypto24hrs]

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.

[paymentbit21]

I do not hack from the computer and do not do it at all, because it's not profitable, I do not feel income.

[jaaeeeyyyy]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

Mining enables the users to be able to get coins in in small amounts every time it runs a program or it lets open a tab Because of this, a lot if miners don't shut their pc down to be able to maximize the profits they could acquire through mining. Mining is not in a good spot right now however, and is the least profitable way of investing on bitcoin as it takes more than what it gets.

[soulripper]

When you hear about the "mining" of bitcoin, you will get a coin that has been dug from the ground. The fact that bitcoin is not physically in nature, but why is it said to be mining? Because it is just like gold mining where bitcoin is created in the design of a sample example like gold extracted from underground.

[jhenz20]

Mining is important in block chain because it confirm a transactions on the block chain and make sure that the network is able to keep sending transactions back and forth. Mining is the who process transaction by which transactions are verified and added to the public ledger. Bitcoin mining provides rewards as a form of exchange for the useful services necessary to operate a secure payment network.

[Alfian2015]

Bitcoin is heavily dependent on this mining process. Because with mining done by miners Bitcoin (miner) will validate every transaction, build and store the new block into blockchain. To save the new blocks into the Blockchain, miners must reach consensus.

[Choy13]

Of course bitcoin mining is efficient if you don't want to do work. But first you will be needing computer that can take much the mining of bitcoin. You need the high specs of a computer for doing bitcoin mining. But i prefer investment rather than mining. Even though investment has a risk for us its alright tho.

[Melvin Narag]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

Sorry, what? What dark thing are you referring to?
 don't know something like this.

Hahaha  ::)this joke made my day!!!!! can't stop laughing in my room.

Mining is electric generated machine and equipment like computers and any other machines, you need a power to make the machine works 24/7, and the most coomon thing to use its electricity!! You need also an ASIC to mine better with your computers.

[bjmpoker001]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

i think you should do more research about bitcoin and cryptocurrency mining.
mining crypto is not so simple as that. you need some good spec to mining with great hash power.

[Gathel]

The concept of Bitcoin Mining

Bitcoin mining is a process of mathematical calculation performed on Bitcoin tissue. As we all know, Bitcoin runs in an online system, and the purpose of such mathematical calculations is to verify the bitcoin transactions that exist on the Internet. By doing the verification, a bitcoin miner will get a new block gap in the Bitcoin network containing a new amount of Bitcoin and can be taken.

[As roma]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

Mining is a process of expending computing power to process transactions, secure networks, and keep everyone in the system synchronized together. This may be likened to Bitcoin data centers, except that it has been designed to be completely unfocused with miners operating in all countries and that no individual has control over the network. This process is called "mining" as an analogy such as gold mining, because it is a temporary mechanism used to issue new bitcoins. But unlike gold mining, Bitcoin mining provides rewards as a form of exchange for the useful services necessary to operate a secure payment network. Mining will still be needed after the last bitcoin is published.

[Turkish88]

some services can provide for you bitcoin mining, but in core it use your machines to mine other coins and exchange it for bitcoins

[Zoha_228]

So whats the point of the mining, I'm wondering if there is something dark your computer is used for while doing the mining, because otherwise, what is the benefit of your machine running all day long.?

There was the time when poloniex was one of the top crypto exchanges with the high volumes but the time never remains the same, poloniex is now not in top 50's because of high fee and low volume, I would suggest you to use bittrex because it's interface is very user friendly.

[Mekmbem]

bitcoin mining is done with sophisticated computer devices and so much that it consumes considerable power and 1% of the world's electricity usage is spent on bitcoin mining

[Ch01ce0N3]

Do as much mining as possible. Without limits, the goal is to get profit. So have a good future because it has been provided with the results of the mining itself.

[Yoshinoya]

Bitcoin mining is some a way for us to get more money without we put some capital.
from mining we can earn huge profit, but we need to learn more about mining because there so many scam.

[yudi31]

Bitcoin Mining (Bitcoin Mining) is one way to get Bitcoin. As mentioned earlier, we can see Bitcoin as a large global cash system that stores the history of transactions (or 'money movements') from one person to another. When Bitcoin transactions are processed on the Bitcoin network - meaning Bitcoin is being moved from one person to another - one needs to make sure that all transactions are properly recorded and the cash system has been synchronized around the world.

[Doterti]

Bitcoin Mining (Bitcoin Mining) is one way to get Bitcoin. As mentioned earlier, we can see Bitcoin as a large global cash system that stores the history of transactions (or 'money movements') from one person to another. When Bitcoin transactions are processed on the Bitcoin network - meaning Bitcoin is being moved from one person to another - one needs to make sure that all transactions are properly recorded and the cash system has been synchronized around the world.

The Good thing having a bitcoin mining is which you can find a great chance to gain a big income because bitcoin itself has a big value in the market and with that it is like a finding a diamond but ten times of the value of the diamond, it is where bitcoin mining is very interesting because it is easy to do because you have the tools in the system and with that you are more relax and chill because you just need to sit and wait rather than digging and risking your life.

[Ch01ce0N3]

Yes, I use that machine for mining. What's the point of having a machine, if it's just useless and not generating. The solution of mining to benefit and can benefit a lot.

[altcoinanalyst1]

I dont exactly got your point about the dark thing. But i am sure that without mining the bitcoin is worthless. How can we send or receive bitcoin if nothing can confirm the transaction. Besides no more bitcoin will emerge if mining is stopped.

[lotakasa]

Exploitation is the surest thing you have ever done, but I found it to be exploited comprehensively, It is less risky than other things.