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sorry for not knowing all the correct terminology so this may sound a little stupid. I have had Bitcoin since bitcoin was $200. I read something about mining that if miners drop out than it is easier to mine? Would that mean that mining will always be profitable? If there was one miner he would be able to mine all the coins? Or would he need a tremendous amount of powder to do that? I don't really get mining or the concept behind it. If it is a strong point or a fault to Bitcoin. Another thing I don't get is when all the Bitcoins are mined what would happen? the normal response, i think, is the devs are working on it so that is a serious problem. this past few weeks or months have been hard. i think im here for the long run and have been but im having some serious thoughts i maybe sleeping in the street soon. it definitely feels different this time. I am trying to figure out how to make more Bitcoins now because it's far from over and they are on sale but how low will it go and my major question is what about the miners and how would or does that work if they drop out from not making profits.
So me and my friend(13yr old) plan to buy AMD Epyc 1351 which is a strong processor for mining and use app called nicehash to mine and make money! They(the app) calculated that with 2 of those proccesors we can make 75$ a month which may not be much but for us its a lot! The proccesor costs 1000$ but we will get it cheaper because of connections! (500$*2)(Its 0.10$ per kwH) Now it all seems nice but i am wondering why isn't everyone doing this there has to be a catch?
Here i will show you 2 ways to mine bitcoin, One for free and one for an investment. OPTION 1 FREE MINING Join the site https://coinpot.co and register (COPY +PASTE ) Then go-to these sites and register using same email address http://moondoge.co.in/?ref=03894b7acbf2 http://moonbit.co.in/?ref=3d7d3c5d02dd http://moonliteco.in/?ref=750a1f328a38 http://moondash.co.in/?ref=79B4B6C86A0A In each of these sites claim your free coin. It will automatically go into your coinpot account where it will build up over the days and weeks. In coinpot you can also use computer to mine each coin to give you extra. Remember to visit the site links i give every day to receive extra bonuses in coins. OPTION 2 (INVEST SOME MONEY TO MINE) Join the site by this link https://hashflare.io/6A90C665 Its secure and free to join- after you join go-to buy Hashrate - Then pick SHA_256 There you can move the bar up and down to decide how much hasrate you will buy. When you decide how much you want to invest click to buy and you can purchase with a credit card ( I bought 400 dollars worth and after 1 year mining it will be work 2000 dollars depending on how much the bitcoin is worth so if it goes up so does how much you get back. Dont worry about the mining after you purchase the site does it automatically and you can log on every day to see how many bitcoins you got each day. I`M writing this post to help you as like me it took me a while to figure it out. And these coins are only going to grow bigger and bigger as every day i hear about big companies getting involved in the coins. So no matter what anyone tells you its early days for the coins. HAPPY MINING EVERYONE....I WISH YOU LOTS OF COINS
How Bitcoin Mining Works. Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. Bitcoin mining is the process by which new bitcoins are entered into circulation, but it is also a critical component of the maintenance and development of the blockchain ledger. Bitcoin mining is done by private computers. The role of miners is to secure the network and process each Bitcoin. Miners do this by solving a calculation problem that allows them to assemble the transaction blocks (hence bitcoin's famous blockchain). Miners for this service are rewarded with newly created Bitcoins and transaction fees. The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team. The result of “bitcoin mining” is twofold. First, when computers solve these complex math problems on the Bitcoin network, they produce new bitcoin, not unlike when a mining operation extracts ...
Noob's Guide To Bitcoin Mining - Super Easy & Simple
Is mining Bitcoin BTC still profitable in 2020? Let's review mining profitability, Bitcoin, Bitcoin Cash, and Bitcoin SV. Block reward halving, network diffi... Some Helpful Links: • Buy Parts for a Mining Rig: http://amzn.to/2jSSsCz • Download NiceHash Miner: https://www.nicehash.com/?p=nhmintro • Choose a Wallet: h... Bitcoin and cryptocurrency mining explained with the Byzantine Generals Problem. We use it to explain the essence of cryptocurrency mining. https://www.udemy... For more information: https://www.bitcoinmining.com and https://www.weusecoins.com What is Bitcoin Mining? Have you ever wondered how Bitcoin is generated? T... I'm going to talking about top free best bitcoin mining website, and I'm gonna tell you every steps to get bitcoin mining! In this video I'm showing how to m...