What is Bitcoin Mining?

in #bitcoin7 years ago

In a nutshell, think of Bitcoin as a online currency. It is not ruled by any bank nor government, instead, Bitcoin miners, secure the transactions.

𝐓𝐡𝐞 𝐒𝐞𝐭𝐮𝐩:

Say for example, you download a mining software on your PC. The software is using your computer's resources, like it's GPU and CPU.

For your computer's hard work, you get rewarded by a fraction of Bitcoin

After a while, lets say you get 0.00002 BTC (Bitcoin) for mining. You would send that amount to a 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐖𝐚𝐥𝐥𝐞𝐭.

To get a Bitcoin Wallet, you would need to find a website that has a wallet, sign up, and you'll get a generated 'code'. Input this code into your software.

From there, you would link your bank account on the website, and you're set.

It's not THAT easy, though, mining Bitcoin is ideal for gaming PCs, or specialized miners.

Anyway, in my opinion, I wouldn't recommend mining BTC, there are way better and profitable currencies to mine.

I found a pretty informational video on Bitcoin:

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0.1 BTC free for mining-you can buy 9 th/s lifetime , offer limited time https://seebit.io/?r=56086

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