What is Bitcoin mining?

[Fretcy]

Bitcoin mining is somewhat similar to mining gold and just like Gold there is only a limited number of 21 million bitcoins can be mined each time the difficulty of mining increases, for mining bitcoins there is a need of good computers and a special to solve complicated arithmetical  problems using cryptographic hash functions, the problem can be solved with high powered computers. As the value of bitcoin rises the number of people entering into the bitcoin mining is also increasing.Now a days many people are found investing on bitcoin mining rigs and farms like in China, America and so on for mining bitcoins as much as possible, and bitcoin mining warehouse are built in places where the electricity prices are too low, others also find alternative sources like installing solar panels, thermal energy and other sources to produce electricity where the countries electricity rates are unaffordable for mining.

[1714919108]

1714919108

[1714919108]

1714919108

[1714919108]

1714919108

[bitcad4u]

Bitcoin mining is somewhat similar to mining gold and just like Gold there is only a limited number of 21 million bitcoins can be mined each time the difficulty of mining increases, for mining bitcoins there is a need of good computers and a special to solve complicated arithmetical  problems using cryptographic hash functions, the problem can be solved with high powered computers. As the value of bitcoin rises the number of people entering into the bitcoin mining is also increasing.Now a days many people are found investing on bitcoin mining rigs and farms like in China, America and so on for mining bitcoins as much as possible, and bitcoin mining warehouse are built in places where the electricity prices are too low, others also find alternative sources like installing solar panels, thermal energy and other sources to produce electricity where the countries electricity rates are unaffordable for mining.

Bitcoin mining is a thing by which the transcation of Bitcoin will happen.This  transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions of Bitcoin .

[mx667]

Bitcoin mining is somewhat similar to mining gold and just like Gold there is only a limited number of 21 million Bitcoins can be mined each time the difficulty of mining increases, for mining Bitcoins there is a need of good computers and a special to solve complicated arithmetical  problems using cryptographic hash functions, the problem can be solved with high powered computers. As the value of Bitcoin rises the number of people entering into the Bitcoin mining is also increasing.

Now a days many people are found investing on Bitcoin mining rigs and farms like in China, America and so on for mining Bitcoins as much as possible, and Bitcoin mining warehouse are built in places where the electricity prices are too low, others also find alternative sources like installing solar panels, thermal energy and other sources to produce electricity where the countries electricity rates are unaffordable for mining.

If we put in a simple way, the Bitcoin mining is making money by preparing hardware and electricity. The hardware will work automatically and we do not need to do any work. We just need to set and clean the hardware so it is not damaged and dusty. We also have to control the temperature of the hardware so it is not too hot and quickly damaged.

But nowadays, Bitcoin mining are very difficult because of increasing competition and increasingly difficult code breaking.

You are very good at describing the Bitcoin mining with gold mining. Both are somewhat similar, if gold we need a variety of heavy equipment to do the mining. But if Bitcoin, we only need computers and hardware only. To be sure the Bitcoin mining is much cheaper.

[Bluestreet]

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 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 in mining.  The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.  The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards.  The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin.

[tevayo]

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.

I really much agree with the explanation.  According to me, 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 in mining.  The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.  The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards.  The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin.

[franco123]

It was clearly explained already above but to contribute, the technical definition of Bitcoin mining is a computer process used to get and gain bitcoin transactions payments from one address or account to another. Each group of transactions is called a block. Blocks are secured by Bitcoin miners and build on top of each other forming a chain called bloackchains. This ledger of past transactions is called the blockchain. The blockchain serves to confirm transactions to the rest of the network as having taken place. Anyone with access to the internet and suitable hardware can participate in mining. The mining process involves compiling recent transactions into blocks and like trying to solve a puzzle like situation.

[Meowth05]

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.

Well, I have never been try it before so I have less knowledge about bitcoin mining. However, as far as I know bitcoin mining is another way of gaining bitcoin yet, it is not that risky compared to other transaction. In order to try bitcoin mining you must have a fast internet connection and a hardware that mine bitcoins.

[jaat08]

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 the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

[dotme]

mining is those guys who use their prepossessing power to confirm your transaction 

[brainape]

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 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 in mining.  The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.  The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards.  The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin.

Bitcoin is digital cryptocurrency and can be useful for a lot people and for those who didn’t have a job and setting in their houses free, they need to focus on bitcoin mining, bitcoin mining means that to earn or buy bitcoin by investing or spending money on it.

[Oceat]

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 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 in mining.  The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.  The participant who first solves the puzzle gets to place the next block on the block chain and claim the rewards.  The rewards, which incentivize mining, are both the transaction fees associated with the transactions compiled in the block as well as newly released bitcoin.

Bitcoin is digital cryptocurrency and can be useful for a lot people and for those who didn’t have a job and setting in their houses free, they need to focus on bitcoin mining, bitcoin mining means that to earn or buy bitcoin by investing or spending money on it.

I think you didn't get what is bitcoin mining, do you? Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and the new bitcoin are released. Bitcoin mining for profit is very competitive and the volatility in the bitcoin price makes it difficult to realize monetary gains without also speculating on the price. If you have an access of cheap electricity and the ability to manage a large installation and business, you can mine for a profit.

[ihsanskanzaone]

Bitcoin mining is the process of obtaining bitcoin by using bitcoin mining machines that run special software to view these transactions and collectively add them to the current 'block' of the transaction, while collecting the cost of the miners listed in each transaction This is the first incentive for bitcoin miners. The second incentive comes from block mining. For each transaction of bitcoin blocks generated, miners compete to solve 'difficult' math problems. The winner of this competition gets some new bitcoin made.

[Makar88]

What is Bitcoin (bitcoin, btc, Btk, bitcoin) in simple words? This is a new generation of decentralized digital currency, created and operating only on the Internet. No one controls it, currency issuance occurs through the work of millions of computers around the world, using a program to calculate mathematical algorithms. This is the essence of bitcoin.

[Burks]

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.
Bitcoin mining is a lot like a giant lottery where you compete with your mining hardware with everyone on the network to earn bitcoins. Faster Bitcoin mining hardware is able to attempt more tries per second to win this lottery while the Bitcoin network itself adjusts roughly every two weeks to keep the rate of finding a winning block hash to every ten minutes. In the big picture, Bitcoin mining secures transactions that are recorded in Bitcon's public ledger, the block chain. By conducting a random lottery where electricity and specialized equipment are the price of admission, the cost to disrupt the Bitcoin network scales with the amount of hashing power that is being spent by all mining participants.

[justspare]

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 the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place.

Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

Bitcoin mining means producing bitcoin and the sell them in the market. It is a process of producing digital currency and to make money due to the sale of bitcoin in the world market. I think bitcoin mining is not easy and it is also very costly because of the high prices of mining tolls and electricity. Bitcoin miners I think are the high earning community from all other ways of earning money in bitcoin.

[Umar001]

Bitcoin mining is a the  process  by which ledger, know as the block chain  and also means through  which  new bitcoin are released,  the  mining  process  involved  compiling recent transaction  into block  and trying to solve a computation  difficult  puzzle.

[minerich]

Bitcoin mining is the process of which transactions are verified and added to the public ledger, known as the blockchain, and also the means through which new bitcoins are released. ... The mining process involves compiling recent transactions into blocks and trying to solve a computationally difficult puzzle.

[BTC AND ETH]

Bitcoin mining is the process by which the transaction information distributed within the Bitcoin network is validated and stored on the blockchain. It is a term used to describe the processing and confirmation of payments on the Bitcoin network.

What makes the validation process for Bitcoin different from traditional electronic payment networks is that there is no need for an issuing bank, an acquiring bank, merchant accounts or mandatory centralized clearing houses, such as Visa and MasterCard, holding onto funds until they process transactions at the end of each day.

[sunno330]

Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions.

Oh, good answer.  I was searching for as like your answer.  By the way thank you very much.
Before than I also thinking what can be it (mining).
Then,  I am clear about this question.

[kevin go]

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.

Basically mining is the process of adding transaction records to bitcoins investor journal of past history. Mining  build the network. Without mining their is no network and it will have zero value. You can say that bitcoin is dependent on mining. when you run the mine bitcoins then it is measured in hashes per second. Mining is used to introduce bitcoin in the system. Their is many types of mining like CPU mining, FPGA mining, pools, cloud mining etc. Hope it will help you.