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About this sample
About this sample
Words: 402 |
Page: 1|
3 min read
Published: Nov 15, 2018
Words: 402|Page: 1|3 min read
Published: Nov 15, 2018
First of all before knowing what is bitcoin mining we have to know what a bitcoin is ? Bitcoin is basically a cryptocurrency which is intangible and exists only in cyberspace, well bitcoin mining is not like an ordinary gold or oil mining but is totally different from that , it is done manually not on fields but on computers.
A question might arise that HOW? it is done by using special bitcoin mining hardwares which have to be installed into our computers, bitcoin mining is a complex task to understand but basically in simple language this mining includes solving mathematics algorithhms, and puzzles and for that you are rewarded with a very little amount of bitcoins. Many people would be wondering that which software will be able to mine bitcoin well here are some names of the software that mine bitcoin CGminer,BFGminer,BitMinter etc.
There is one big drawback of bitcoin mining is that the electricity it consumes for mining bitcoin is very high and can cost a lot. Since we know bitcoin is a cyberspace currency so mining is risky because we don't know who is controlling bitcoin .
Here is the process that how actually is bitcoin mining done:
Here are some extractes which everyone should know:
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