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Author Topic: definition of mining ?  (Read 235 times)
Dexion
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August 30, 2017, 11:02:17 PM
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many people are talking about mining ,,, I am the first time to get to know mining, and not yet understand what mining is? what is the purpose of mining? and what are the advantages of mining? and how does mining work?
please enlighten ..

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August 30, 2017, 11:41:01 PM
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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. For the complete, You can see in this site https://www.bitcoin.com/bitcoin-mining

To begin mining bitcoins, you'll need to acquire bitcoin mining hardware. In the early days of bitcoin, it was possible to mine with your computer CPU or high speed video processor card. Today that's no longer possible. Custom Bitcoin ASIC chips offer performance up to 100x the capability of older systems have come to dominate the Bitcoin mining industry.

Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. Several companies such as Avalon offer excellent systems built specifically for bitcoin mining.
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September 27, 2017, 10:43:17 AM
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many people are talking about mining ,,, I am the first time to get to know mining, and not yet understand what mining is? what is the purpose of mining? and what are the advantages of mining? and how does mining work?
please enlighten ..
mining is a process of extracting crypto currency.
purpose of mining is to get a desired crypto currency such as btc or eth.
you get paid in crypto at the end of the cycle.
you have to join a pool and start mining using miner such as antminer and yu are good to go.
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September 27, 2017, 01:11:22 PM
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Mining is where mine bitcoins using a hardware like a high end graphics card or a mining rig that designed for mining bitcoin. Mining is a passive income for the people who got budget for it. Mining is risky also because you can't make sure that your hardware will not experience some malfunctions so you better be ready for it and don't be greedy always.

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September 27, 2017, 03:20:33 PM
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many people are talking about mining ,,, I am the first time to get to know mining, and not yet understand what mining is? what is the purpose of mining? and what are the advantages of mining? and how does mining work?
please enlighten ..

The Bitcoin blockchain network is run by individual computers all over the world. Anyone can use their computer to be a part of this network. These people are called miners and their computers are used to perform the work necessary to send Bitcoins from one address to the other and to log that information in the blockchain.

Miners get paid for thier work with Bitcoins. The Bitcoins they receive are the newly created Bitcoins that are a result of the mining process per the design of Bitcoin. They also receive Bitcoin from fees that are charged for completing Bitcoin transactions.

Michaelsch
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September 28, 2017, 09:26:28 PM
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I've heard that you still can mine other coins with your regular computer, I'm not sure if it worth to do, but this is an option
Bgn91
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September 29, 2017, 01:40:44 AM
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Also mining is keep p2p network alive.

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September 29, 2017, 01:47:25 AM
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many people are talking about mining ,,, I am the first time to get to know mining, and not yet understand what mining is? what is the purpose of mining? and what are the advantages of mining? and how does mining work?
please enlighten ..


Mining is when you exchange you processing power to help the network. Normally GPU's but there are some CPU coins mostly mined with single board computers like odroids what are very profitable. So your GPU power is hash rate and CPU power from my knowledge is primes. So you exchange you computer power to prove that transaction on the network it true there are also other methods called proof of stake or POS.
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