What exactly is Mining?

[ClatonWillirum]

I knew that we can "Mining" to earn Bitcoin but what exactly is Mining? I dont really understand it 

[codewench]

I knew that we can "Mining" to earn Bitcoin but what exactly is Mining? I dont really understand it 

Mining is aggregating transactions into a block, cryptographically securing the block, and adding it to the global transaction ledger. Miners compete to be the one that successfully adds a block. The winner gets a reward, losers get nothing.

[Pali]

It is a process handled by your GPU or a hardware miner. It makes sure that when you send out money it gets received at the other end you are sending it too. That hopefully in a timely manner. Mainly dependant on the fee you set for your transaction, prior to broadcasting it.


Mining is a complex formula, meant to add a load to the CPU'S to also make it a challenge. You also need a decent hash rate to have some sort of profitability when you are mining on a pool.

[Digital Mutant]

The blockchain is a net of computers that all together form the crypto ecosystem
All these computers are linked and process all the activity in the blockchain
Miners run programs in their computers that bypass all the informations (transactions) and are rewarded with cryptocurrencies for doing this
You can mine differents types of cryptocurrencies

It is not so simple but it is the base to start understanding the process

[legend018]

I don't have a computer good enough to mine but I was so curious, I played with zcash just for a few days and got it working. but like I said I have no resources to really make any money and stopped. This was geared toward mining zcash but has some beginner descriptions about the process. I hope it helps
https://cryptopotato.com/mining-beginners-mine-zcash/

[EricWHerron]

"Mining is the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together. It can be perceived like the Bitcoin data center except that it has been designed to be fully decentralized with miners operating in all countries and no individual having control over the network. This process is referred to as "mining" as an analogy to gold mining because it is also a temporary mechanism used to issue new bitcoins. Unlike gold mining, however, Bitcoin mining provides a reward in exchange for useful services required to operate a secure payment network. Mining will still be required after the last bitcoin is issued."

[Digital Mutant]

very good description of what mining is 

[sherlenekupo]

Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions (and a "mining rig" is a colloquial metaphor for a single computer system that performs the necessary computations for "mining"). 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.

[leostrong.mo]

The significance of bitcoin mining is to maintain the properties of the whole bitcoin. Just as national central Banks and other Banks use resources to build systems (electronic systems, dot systems) to keep the currency flowing. Mining is just an inappropriate metaphor. Because the miners used their own calculations to maintain the circulation of the bitcoins, the system gave the miners new bitcoin rewards.

[Luckyji]

 mining is the processing of transactions in the digital currency system, in which the records of current Bitcoin transactions, known as a blocks, are added to the record of past transactions, known as the block chain