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Author Topic: What is Bitcoin Mining?  (Read 462 times)

Siffi

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Re: What is Bitcoin Mining?
« Reply #15 on: June 25, 2019, 08:50:39 PM »
if I think I prefer trading than we have to keep mining, for me it will also be difficult to use mining, so right now I also like to trade bitcoin, because the benefits that I produce are also quite good

Rose_Staw

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Re: What is Bitcoin Mining?
« Reply #16 on: July 01, 2019, 03:54:13 PM »
As you already know bitcoin is different from traditional currencies. Unlike traditional currencies, bitcoins operates on a public ledger system. Bitcoin mining can be defined as the backbone of the bitcoin network. Miners confirm bitcoin transactions and also provide security. Without bitcoin mining, the network would start malfunctioning and become vulnerable to attacks.

The primary purpose of a bitcoin miner is to secure the network and confirm the bitcoin transaction. To make it happen, the miner makes use of a specialized computer system. Miners are required to solve a computational problem. This helps them to chain together different blocks of transactions. As a reward, miners are offered free bitcoin mining along with transaction fees.

Lore

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Re: What is Bitcoin Mining?
« Reply #17 on: July 16, 2019, 04:51:31 PM »
Bitcoin is not profitable for mining. It's better to deal with cloud mining.
Agree.The average home miner will struggle to be profitable or recoup the cost of mining hardware and electricity, especially with the Bitcoin downward price trend.

Yalhis

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Re: What is Bitcoin Mining?
« Reply #18 on: August 17, 2019, 09:59:27 PM »
Those who acquired a powerful home farm can boast of their achievements, but I did not stop mining even when everyone said that it was not profitable.

emililadjet

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Re: What is Bitcoin Mining?
« Reply #19 on: August 18, 2019, 08:41:30 PM »
Hello Yalhis,
 If you are looking for a cloud mining site, I suggest you check the site well carefully so you can be sure that this is not a scam site do some research on this site to see if there are positive feedback to avoid risk.
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alinamix

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Re: What is Bitcoin Mining?
« Reply #20 on: September 14, 2019, 05:18:58 PM »
Mining is the process of using computer power to process transactions, protect and synchronize a cryptocurrency network. Mining can be perceived as a data center, only completely decentralized, since miners are located all over the planet. This process was called "mining" by analogy with gold mining, because it is also a temporary mechanism used to issue new bitcoins. However, unlike gold mining, bitcoin mining generates a reward in exchange for important services necessary to ensure the safety of the payment network. Mining will still be needed, even after the last bitcoin is released. But if you want you can change bitcoin for money in exchange https://exolix.com/.

kfedor52

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Re: What is Bitcoin Mining?
« Reply #21 on: September 17, 2019, 01:31:10 PM »
I don 't do Bitcoin mining.

Qamrandice

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Re: What is Bitcoin Mining?
« Reply #22 on: October 22, 2019, 09:47:43 PM »
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