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Author Topic: What is Crypto Mining?  (Read 302 times)
Agbe (OP)
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April 16, 2022, 08:55:01 PM
 #1

I don't know If this Topic has been posted here by another user, but I made my research here and beyond. For this forum, I didn't find such title but other tittles on Crypto or bitcoin mining were found but the contents are entirely different.  Crypto or Bitcoin Mining has been a question in my mind. That made me to make
some research for trying to know more about it. And I got some minor understanding but not really clear to understand and explain to another person whenever a question arises. That is why I am bringing it here, so that an expert will explain more for.

Like from the research I found out that Bitcoin Mining is the process of bringing new Bitcoins to the Bitcoin space, or making transactions with bitcoin. https://www.investopedia.com/terms/b/bitcoin-mining.asp

https://www.nationalgeographic.org/encyclopedia/mining/
Yet I don't know it, therefore, I am appealing to the forum experts that I need more explanation on the different between crypto mining and bitcoin mining. And also how can I mine bitcoin.

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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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BitMaxz
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April 16, 2022, 11:20:36 PM
 #2

Why not read some courses instead to learn more about Bitcoin and Crypto as a newbie it won't be easy to understand but if you keep reading and using them you will fully understand how these work.

Check these sources and look for some free courses out there
- https://github.com/yjjnls/awesome-blockchain
- https://github.com/igorbarinov/awesome-bitcoin
- https://github.com/Helmi/awesome-crypto

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AnotherAlt
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April 21, 2022, 07:30:14 PM
 #3

Yet I don't know it, therefore, I am appealing to the forum experts that I need more explanation on the different between crypto mining and bitcoin mining. And also how can I mine bitcoin.

First of all, I am not a forum expert. But, I myself mine ETH For a year now. So, I guess I can share my experience with you.

Bitcoin is also crypto. But, JayJuanGhee disagrees with this. According to him, Bitcoin is Bitcoin.
You don't have to be an expert to mine Bitcoin. You can start mining Bitcoin using ASIC Miner if you have general knowledge.
There is not much difference between Bitcoin mining and Crypto mining. The only difference between Bitcoin mining and other crypto mining is on Hardware.

Bitcoin

  • Bitcoin can be mined using ASIC Miner Only
  • Bitcoin has a limited supply. Only 21 Million Bitcoin can be mined.


Crypto Mining (Alt coins)

  • Some Altcoins can be mined using GPU, CPU, Even Harddrive
  • Some altcoins don't have supply limits (ETH For example)

Bitcoin and ETH Both are crypto in general.




Another Post from jackg might be helpful for you.

I'm not sure anyone here has experience in designing and making chips it's dominated by only a few companies. My answers below are my best guesses based on what I think will be a useful starting point.

I don't think you'll get a good profitibility out of chips if you're just doing this hobbyistically - there's quite a bit of competition in this space imo and they probably have to compete quite well with each other already (some have stopped producing entirely too).

1) Is this even right place to ask such questions?


Kinda but you might want to ask it on more forums too or in communities where chips are designed.

 3.2) Complicated functions of processors
  3.3) How sha256 works indepths


The sha256 algorithm is the main function asic chips implement as weel as (probably) a comparison to check if the header is below the target - operations are normally done in parallel as much as possible afaik to increase the speed a block is found (this might be less necessary though as series processing over the same amount of time will produce a similar number of outputs for ~10 minute intervals).

 3.4) How ASIC receives jobs
  3.5) How mining pools work


Pools send jobs to computer workers that mine the blocks based on the information the pools give them.
These "workers" are pieces of software on a "normal" machine (ie one running Windows or Linux with the asics connected as peripherals) that deligate tasks to asics.
I think the APIs for these are quite well implemented though so you'd just have to look at integrating the asic chips with preexisting software to start with.

 3.6) How USB miners work


This might be easier to work out by buying a cheap USB miner (or making one yourself out of a cheap device).

You could also look at software like cpuminer or check other crypto mining software that's open source.

 3.8.) How to design an ASIC chip

You'll likely want to start off with the basis of a chip that can do sha256 algorithms and then work from there to add things.


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navya23
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April 22, 2022, 11:21:20 AM
 #4

The competitive process verifies and adds new transactions to the blockchain for a cryptocurrency that uses the proof-of-work (PoW) method. The miner that wins the competition is rewarded with some amount of the currency and/or transaction fees.
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May 04, 2022, 03:39:34 AM
 #5

Bruce Hardy's has a different perception on crypto mining.

https://truththeory.com/canadian-man-using-bitcoin-mining-power-aquaponic-garden/

He developed a way to utilize the heat from his ASICS miners to warm a building for early stage plant growth and sells them to local farmers. He uses his own style of aquaponics to create a sustainable environment for fish and plants.
subhashitha
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July 31, 2023, 01:32:54 PM
 #6

Can you give me a link to a good mining site?
KiaKia
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July 31, 2023, 05:00:42 PM
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 #7

Can you give me a link to a good mining site?
There is no mining website out there, what's left are online mining calculators e.g whattomine  and mining pool like Nicehash and others, if anyone ever told you about a website where you can mine with no miner e.g asic Miner or gpu it's a scam they are running, it's better to close such website and look for legit way of mining Bitcoin and altcoins.

Find money and buy asic miners like s19 but first check your power bill, if it's costly or not, because many people did this mistake and they end up selling the asic miner back for a lower price.


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@sriyan
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August 01, 2023, 04:55:39 PM
 #8

I don't know If this Topic has been posted here by another user, but I made my research here and beyond. For this forum, I didn't find such title but other tittles on Crypto or bitcoin mining were found but the contents are entirely different.  Crypto or Bitcoin Mining has been a question in my mind. That made me to make
some research for trying to know more about it. And I got some minor understanding but not really clear to understand and explain to another person whenever a question arises. That is why I am bringing it here, so that an expert will explain more for.

Like from the research I found out that Bitcoin Mining is the process of bringing new Bitcoins to the Bitcoin space, or making transactions with bitcoin. https://www.investopedia.com/terms/b/bitcoin-mining.asp

https://www.nationalgeographic.org/encyclopedia/mining/
Yet I don't know it, therefore, I am appealing to the forum experts that I need more explanation on the different between crypto mining and bitcoin mining. And also how can I mine bitcoin.


Crypto mining and Bitcoin mining are related concepts. but they are not exactly the same. Bitcoin mining is a subset of crypto mining and focuses on mining Bitcoin only. Crypto mining is a broader term that explains the process of validating transactions.

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August 02, 2023, 07:01:10 PM
 #9

Can you give me a link to a good mining site?
Here
https://www.nicehash.com/
There are articles, a blog, mining calculators and links to other communities. Until you write down the cost of your electricity, I can't help you. I consider now the maximum ceiling of 6 cents per kilowatt, if your electricity is more expensive, then do not start mining now.

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