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What is Mining?

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What is Mining? in General Cryptocurrency Discussion_xx
One analogy commonly used by people is mining Bitcoin like mining gold. Like precious metals, the number of bitcoins is also limited (there are only 21 million bitcoins) and the more bitcoins are mining, the more difficult bitcoin is to be mining and need more sophisticated tools. The important thing to know is that mining does not mean they make bitcoin for their profits. But through fees, a number of BTCs are given to miners as prizes because they have validated a transaction. Then how do they do it?
Mining Bitcoin requires computers and special programs. Miner will use this program and also a lot of computer resources to compete with other miners, in solving complex mathematical problems. Every time about 10 minutes, the server will try to complete the block with the latest transaction data, using the cryptographic hash function.


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#1 - February 14, 2019, 07:11:25 AM

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Very much capital is needed in mining btc, high-specification computer equipment, which is resistant to on for a certain period of time, is different from mining gold in the form of real barn, in my opinion it is better to mine gold.
#2 - February 14, 2019, 06:30:07 PM

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bitcoin mining. very tempting. 

with definite advantages in mining provided that the calculation of costs and results is appropriate. 
 especially now many mining service providers are already offering services with investment systems. quite profitable. but we must be careful because many are scams
#3 - February 27, 2019, 01:58:17 AM

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Very much capital is needed in mining btc, high-specification computer equipment, which is resistant to on for a certain period of time, is different from mining gold in the form of real barn, in my opinion it is better to mine gold.
Yes it is, it would be wise if we calculate 1st before jump to bit coin mining. The cost is not worth the profit we get
#4 - February 28, 2019, 09:01:18 AM

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I used to do bitcoin mining. Using a cloud mining attack on a computer. 1 x 24 hours of computer life continues to produce pretty good results of almost 1 Bitcoin with 120GHS
#5 - March 01, 2019, 01:11:15 AM

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I used to do bitcoin mining. Using a cloud mining attack on a computer. 1 x 24 hours of computer life continues to produce pretty good results of almost 1 Bitcoin with 120GHS
how did you get the results first? what is the equivalent between costs and results.
Now for minning is not recommended because the cost and equipment costs are not comparable to the results of bitcoi mining.
#6 - March 07, 2019, 05:18:44 PM

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how did you get the results first? what is the equivalent between costs and results.
Now for minning is not recommended because the cost and equipment costs are not comparable to the results of bitcoi mining.

with Cryptocurrency mining, there are many tools that need to be used and lots of costs that must be spent, sir,

I personally do not do Bitcoin mining that requires a lot of costs, I am more into cryptocurrency trading, with a small cost of results that can be consistent if it is in accordance with wise money management.
#7 - March 08, 2019, 12:47:09 AM

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with Cryptocurrency mining, there are many tools that need to be used and lots of costs that must be spent, sir,

I personally do not do Bitcoin mining that requires a lot of costs, I am more into cryptocurrency trading, with a small cost of results that can be consistent if it is in accordance with wise money management.
not fortunately instead of losing if mining bitcoin now. the price is not worth the cost.
if for trading I prefer crypto the other altcoins than bitcoins because the percentage of profits is higher.
#8 - March 08, 2019, 12:09:24 PM

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Very much capital is needed in mining btc, high-specification computer equipment, which is resistant to on for a certain period of time, is different from mining gold in the form of real barn, in my opinion it is better to mine gold.
mining bitcoin can actually also without buying a pc and mining tools that are very expensive, you can also use cloud mining through the web.
#9 - April 03, 2019, 11:57:03 PM

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mining bitcoin can actually also without buying a pc and mining tools that are very expensive, you can also use cloud mining through the web.
from what I know, cloud mining is less secure, because a lot of cloud mining has a scam.

so now investors have started to leave the system because it is not safe.
#10 - April 04, 2019, 02:43:14 AM

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from what I know, cloud mining is less secure, because a lot of cloud mining has a scam.

so now investors have started to leave the system because it is not safe.
indeed for cloud mining is very prone to scam, we must be careful to invest in cloud mining.
#11 - April 04, 2019, 05:37:11 AM

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indeed for cloud mining is very prone to scam, we must be careful to invest in cloud mining.
for mining itself seems to be getting good for now, considering that bitcoin has increased prices continuously from $ 3k now it's already $ 5k more.
if the price continues to rise then the profit from mining is very profitable now.
#12 - April 05, 2019, 03:06:52 PM

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What is Mining? in General Cryptocurrency Discussion_xx
One analogy commonly used by people is mining Bitcoin like mining gold. Like precious metals, the number of bitcoins is also limited (there are only 21 million bitcoins) and the more bitcoins are mining, the more difficult bitcoin is to be mining and need more sophisticated tools. The important thing to know is that mining does not mean they make bitcoin for their profits. But through fees, a number of BTCs are given to miners as prizes because they have validated a transaction. Then how do they do it?
Mining Bitcoin requires computers and special programs. Miner will use this program and also a lot of computer resources to compete with other miners, in solving complex mathematical problems. Every time about 10 minutes, the server will try to complete the block with the latest transaction data, using the cryptographic hash function.
When compared with mining gold, of course there are similarities and differences, the same is that both use tools to mine but both are different in terms of online and offline.
#13 - May 11, 2019, 09:37:53 PM

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Bitcoin mining has actually started to be abandoned in 2018.
Many companies based on cloud mining are many who are bankrupt, and some are scam.
For 2019 mining will likely recover and be good because the return of bitcoin prices shows a price increase of $ 7k.
#14 - May 12, 2019, 07:37:19 AM

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What is Mining? in General Cryptocurrency Discussion_xx
Bitcoin mining has actually started to be abandoned in 2018.
Many companies based on cloud mining are many who are bankrupt, and some are scam.
For 2019 mining will likely recover and be good because the return of bitcoin prices shows a price increase of $ 7k.
it makes perfect sense what you are saying, mining in 2018 is quiet because of mining costs and unbalanced BTC prices, for this year the price of bitcoin is already high and mining will be crowded again like ago.
#15 - May 12, 2019, 09:07:58 AM

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