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Author Topic: What is Bitcoin mining?  (Read 8605 times)
sunno330
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September 08, 2017, 12:22:17 PM
 #1

Hello, I have a question,
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.

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September 08, 2017, 12:54:39 PM
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In this forum, there is dedicated section for learning mining so go to that section and find all information about Bitcoin mining- https://bitcointalk.org/index.php?board=14.0

If you're interested in altcoin mining then you can go this section and find the details - https://bitcointalk.org/index.php?board=160.0

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Jeffreybd
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September 09, 2017, 06:26:37 AM
 #3

if you've ever wondered where Bitcoin comes from and how it goes into circulation, the answer is that it gets "mined" into existence. Bitcoin mining serves to both add transactions to the block chain and to release new Bitcoin. The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle. The first participant who solves the puzzle gets to place the next block on the block chain and claim the rewards. The rewards incentivize mining and include both the transaction fees (paid to the miner in the form of Bitcoin) as well as the newly released Bitcoin.

ankurguta87
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September 09, 2017, 11:03:44 AM
 #4

In very simple words,  Its a process of verification of Bitcoin transactions.  You may use your own hardware to mine you btc.

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ynatopak14
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September 09, 2017, 12:48:25 PM
 #5

bitcoin mining is a combination of a mining rig + best internet you can have + your electricity
you can mine coins ICO and have it on your wallet .. today there's no more bitcoin to be mine .. and some coins have high value so you will get a little .. there's a lot of thread here that you can read for a helpful hand .. loon on MINING thread pal and you will learn a lot there...

P.S for me the best coin to mine are the low coin value so once it pump on the market you already have the investment Smiley

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MisterKT
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September 09, 2017, 02:49:49 PM
 #6

To explain the Bitcoin mining in simple words:
To have bitcoin, you can either buy it online using trading platform, or mine them. Apart from the needed equipments, to mine bitcoin you need to solve complex maths problem to get rewarded in bitcoins. The more people trying to solve the problem, the higher the complexity of the problem, and the higher the rewards are.
cucuadam
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September 09, 2017, 04:39:24 PM
 #7

to get bitcoin automatically
HabBear
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September 09, 2017, 05:08:20 PM
 #8

to get bitcoin automatically

Haha, not quite.

Mining is just a common term to explain the process by which new bitcoins are created. For new bitcoins to be created people need to do work to confirm that existing transactions of bitcoin on the blockchain are actually valid...a transaction needs to be confirmed before it can be completed. The compensation for doing this work is a reward of bitcoin. The act of engaging in this activity of doing work to confirm transactions to obtain bitcoin rewards is called "mining".

To the OP, there's a lot of information on the web about this. Have you tried Google yet?

dothebeats
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September 09, 2017, 05:41:28 PM
 #9

Mining is the process of minting new coins in the circulation and is also the process of verifying each transactions that's happening within the network and placing them in blocks of data. For completing a block, the miners who solved it would received the block reward (new coins) plus the tx fees accumulated on that certain block. In goes on ad infinitum as long as there's transactions happening around and even though the 21m mineable coins are exhausted.

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September 09, 2017, 11:45:45 PM
 #10

Go to Google and type exactly what you just asked. Please learn to help yourself before asking questions. Read. There is so much info here. A simple Google search would suffice. Anyway you new so you can be forgiven. Follow the advice the does iswe that responded gave you.

I would like to add that you should try mining altcoins before you mine Bitcoins. Look in the altcoins section to learn about an Interesting altcoin and mine it. There is a lot more I can tell you but do that for now.

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September 10, 2017, 10:21:05 AM
 #11

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.

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September 14, 2017, 08:05:44 AM
 #12

Imagine mixing your phone number, your friends, the time and a random ten digit number and then hashing it, if the result starts with five zeros or more, you win, if not, you replace the replace ten digits and try again. Mining is mathematical formula being run at an intense complexity which requires a lot of CPU power.

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September 14, 2017, 08:10:33 AM
 #13

A hash is created from information from the previous block of transaction, the time and date, the merkle and the current transaction. That leaves a blank piece of info in the hashed block. The idea is to randomly add that missing piece of data and finish hashing the block. The result must have a certain number of zeros in front. That is set by the difficultly.

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September 15, 2017, 01:19:04 AM
 #14

Hello, I have a question,
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.
Google the exact same question:  What is Bitcoin mining?
You will get a hellofalot of very good links for clear answers...

-Joshua Zipkin aka Joshua Alexander leaked AMT A1 miner skype chats http://bit.ly/1Qjt6lj
-For bitcoin to succeed the community must police itself.
-Support Sidehacks miner development. Donations to:   1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
Tons1983
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September 15, 2017, 07:15:29 AM
 #15

Hello, I have a question,
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.

For me as a beginner , for more information about mining you can check that on youtube and read the post here.
It will help a lot but dont believe all of the post some are on their own answer.
You can check that on google . Thank you.
sikkan
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September 15, 2017, 07:34:36 AM
 #16

Simple explanation is that the miner is doing mathematical calculations and looks for the "correct" answer. When the answer is correct a block has been solved and within the block there are 12,5BTC+fees that are beeing released and shared to those who are mining in the pool that found it. Unless it was someone doing solo mining, then the reward are 100% theirs.
Egayerm
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September 15, 2017, 09:39:59 AM
 #17

Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions.
deviant99
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September 15, 2017, 11:44:25 AM
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According to nasdaq Bitcoin mining is the process by which the transaction information distributed within the Bitcoin network is validated and stored on the blockchain.

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September 16, 2017, 12:11:36 PM
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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 worldwide.
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September 17, 2017, 01:23:55 AM
 #20

Hello, I have a question,
what is Bitcoin mining?
actually can anyone explain that what is bitcoin mining?
or any source link or article where I can find my question perfect answer..
Your kindness.


Bitcoin Mining is a peer-to-peer computer process used to secure and verify bitcoin transactions—payments from one user to another on a decentralized network. Mining involves adding bitcoin transaction data to Bitcoin's global public ledger of past transactions. Each group of transactions is called a block. Blocks are secured by Bitcoin miners and build on top of each other forming a chain. Other informations you want to know is in here https://www.bitcoin.com/bitcoin-mining

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