How to MIne Bitcoin?

[pia19]

Mining bitcoin gain a lot of popularity nowadays. Basically, any computer can mine bitcoin, but the amount of bitcoin to be mined depends on the hardware and software of the computer. The higher the software and hardware, the greater the amount of bitcoin can be mine. Second, of course electricity, the cheaper the electricity cost the more profitable your mining will be...

[bitcoinlinks]

Thanks for the info

[beerlover]

From what I hear it's virtually impossible to mine profitably any more (unless you have access to free electricity).

From what you heard, it is not true and you should not pay close attention to everything you read without you doing some proper research yourself. Sure, if you are in a place where electricity is extremely expensive, it won't pay you cause you will be paying so much for electricity fee, but in a place with a very good electricity rate, you can still make a lot of profit if you have a good setup. S9 and D3 are quite efficient and does not take too much power, so that can make mining profitable for you.

You need to buy an ASICs machine or buy a cloud mining service

Going to the cloud for mining is far worse than mining yourself. I see that as a lazy approach to learning and doing research. If you can do a proper research, and get the right gadget, you can mine and get your ROI pretty fast than when you go the cloud way.

[shezu007]

a lot of people now in the world are taking interest in mining of bitcoin and it is beneficial for those people who are living in the country where electricity is cheap because to mine bitcoin great amount of electricity are consuming. you can mine bitcoin by your computer with a strong hardware and software system.

[Work777bit]

What are the processes of bitcoin mining? What are the tools needed?

you need some money))

[emalithcrypto]

What are the processes of bitcoin mining? What are the tools needed?

Bitcoin mining is a process that do with high performance computer machines and software. If you can invest big money for that it will be a really profitable thing. you also need to good power(Electricity) source  for that.

[Orsenise]

Bitcoin is great but mining it for the average user has become, unfortunately, impossible. To correct that statement, it is possible to mine, but it's unlikely that you will make any substantial profits while doing so. The mining business has been centralized and is very competitive nowadays. Earning a descent profit will very much depend on how much money you have spend on hardware that first of all is, expensive, and secondly not widely available. A second problem with mining is the votality of Bitcoin itself, if it gains value you're good (that's what you hope for essentially), but if it drops it can very likely mean that you won't be eating for a month or two (depending how long the downtrend continues). So be carefull with mining, better to invest a small amount of your capital to buying BTC and wait until it appreciates, at least you won't be in debt as you would be if you bought hardware.

[thinkpad99]

Bitcoin is great but mining it for the average user has become, unfortunately, impossible. To correct that statement, it is possible to mine, but it's unlikely that you will make any substantial profits while doing so. The mining business has been centralized and is very competitive nowadays. Earning a descent profit will very much depend on how much money you have spend on hardware that first of all is, expensive, and secondly not widely available. A second problem with mining is the votality of Bitcoin itself, if it gains value you're good (that's what you hope for essentially), but if it drops it can very likely mean that you won't be eating for a month or two (depending how long the downtrend continues). So be carefull with mining, better to invest a small amount of your capital to buying BTC and wait until it appreciates, at least you won't be in debt as you would be if you bought hardware.

At first do not look around for an advanced project. Try to get a great machine, because it's half the success. At your place I would find some trusted people and join forces for it. Remember that the earlier the better.

[rajbitcoins]

What are the processes of bitcoin mining? What are the tools needed?

you need some money))

Yes money is very important, without this we can't mine ant digital coins.

[spinach98]

What are the processes of bitcoin mining? What are the tools needed?

Mining of bitcoin is  process of verifying other bitcoin transaction that user is rewarded for. Mining is to keep transaction secure and reliable.

[chadzscript]

There are many software, browser extension or mobile application you can download and run it to mine a bitcoin but you need a computer with high specification.

[masonli@M_27]

What are the processes of bitcoin mining? What are the tools needed?

mining of bit coin is a process of verifying bit coin transaction.  mining is more expensive process. it takes more time and money and efforts. but compare to bit coin investment mining give more profit. so most of the people preferring to mining. for mining we need hardware kit, software and more electricity employees and efforts are required. mining is giving more profit

[spinach98]

Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The speed at which you mine Bitcoins is measured in hashes per second.

The Bitcoin network compensates Bitcoin miners for their effort by releasing bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued bitcoins and from the transaction fees included in the transactions validated when mining bitcoins. The more computing power you contribute then the greater your share of the reward.

First is you need to get the best bitcoin mining hardware, before it is possible to with your computer cpu but today it is not possible. custom bitcoin asic chips offer performance. Several companies such as avalon offer excellent system built only for bitcoin mining.

[btcprospecter]

Unless you have alot of money to plow into asic miners there is no point also on top of that you would need cheap or free electricity to make alot of profit or you could cloud mine. You honestly would be better buying and holding.

[sangwookie]

look for an ASIC Machine Antminer S9 would be the best, or invest on a trusted cloud mining site beware of scams though.

They are for sale again but it won't come until January. I wonder if it will be worth it then? I guess I could mine Bitcoin Cash or another split coin. What do you think? Good Investment or not?

[Gurdos]

What are the processes of bitcoin mining? What are the tools needed?

For mining, you need a lot of resources, and alone it's pretty problematic. But even this is not all, you need then to understand your profits from this and whether it covers your expenses. So many do not want to get involved with this by way of simpler.

[KarenTalk]

What are the processes of bitcoin mining? What are the tools needed?

For mining, you need a lot of resources, and alone it's pretty problematic. But even this is not all, you need then to understand your profits from this and whether it covers your expenses. So many do not want to get involved with this by way of simpler.

Purchase  mining hardware, decide mining in a pool or alone, download a mining.

[maianh09]

You need to have a digger you can go through topic mining to find the sellers of diggers and you buy it when you buy will have people guide you how to dig and change the wallet but the capital to buy the digger is quite large

[A.P.]

I would use AntMiner, looks like one of the best AIO systems.

[Gargo]

You need to have a digger you can go through topic mining to find the sellers of diggers and you buy it when you buy will have people guide you how to dig and change the wallet but the capital to buy the digger is quite large

For digging you need a good machine first and foremost. I think it is more profitable to invest and trade this, but do as you think. Digging is a heavy piece of bread. You have to know it.