Thursday, November 10, 2016

What is Bitkoin Mining?

When I writing about "Mining sites is the sites of passive earnings", I inform you about the mining sites as such; Which is a for-profit Web sites, which has its own rules and set earnings as a percentage of your investment amount. It briefly about them, where you can make Bitcoin, but it is important to fully understand how business people group that provides you the opportunity to earn is a fair and their business model is clear. And only then, being calm and to make sure that this is not a scam, there to register and earn.


What is Bitkoin Mining?

Mining carried out through computers running a piece of software. The software being run is Bitcoin Core, available for free from the Bitcoin Foudation.
Bitcoin mining is a complex mathematical problems that have to be solved,  in order to get the block (25 Bitcoin) in to blockchain which is the transaction as the proof of work, which is new money creation process towards achieving 21 million Bitcoin total supply.
Only transactions (Proof of Work (POW) algorithm) that are added to blockchain is considered final, so that everyone can trust that you are not to spend twice as Bitcoin.

Bitcoin miners use special software to solve math problems and are issued a certain number of bitcoins in exchange.
This is a lot of resources requires a process, so miners need a high computing devices - graphics card, the ASIC chip, as well as the need to consume a large amount of electrical energy to do this work with proof of work.

Want to see how to look like "Mining Block" then go to the Bitcoin Block Explorer - Blockchain.infoblockchain.info.

Within each block is the bulk of transactions. Bitcoin Block Block # 308022 This is the Bitcoin block was added to the blockchain example. It is 308022th block must be included in the chain of a miner.
You may visit this site, you will notice further transactions, which were included in the block list.

To start pulling a profit on minining, you can't use just any computer. Only specific machines it can do, compute SHA-256 hash functions.

I found on the Internet and the number of articles that this process, if it is to start now, to buy equipment, to run that works well with all of this together with the electricity consumption would be more expensive than that to achieve results.

And, maybe you want to try;) then - Download and install Bitcoin Core. - Open the debug console. - Type "setgenerate true".  - And, You're set.

But as wrote one member of quora.com ", he is a true optimist, because when he writes, "you are now solo mining on your CPU, you will burn a lot of electricity and probably never find any block. But if you are extremely lucky you will get some bitcoins before the end of life on Earth." 

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