-->

Translate

What is Bitcoin (Bitcoin mining) mining?


Bitcoin Mining (Bitcoin Mining) is one way to get Bitcoin. As mentioned earlier, we can see Bitcoin as a large global cash system that stores transaction history (or 'money movements') from one person to another. When Bitcoin transactions are processed on the Bitcoin network - meaning that Bitcoin is being moved from one person to another - one needs to ensure that all transactions have been recorded correctly and the cash system has been synchronized throughout the world.

In the case of Bitcoin, this process is not carried out by individuals or companies, but by thousands of computers around the world connected to the internet. This computer is known as a miners or 'miners'. Simply put, they are 'computers that process transactions'.

To do this processing in a safe way, computers need to do complex calculations that take up enormous computing effort, so that great energy and sophisticated tools are needed. Someone - the owner of these computers - needs to pay for the tools and electricity, so they have to get compensation for all the effort and money they spend supporting this network. They get compensation through the newly mined Bitcoin. The new bitcoin that is mined acts as an award and incentive for those who contribute to the system that supports the transaction process.

Another way to understand this is to imagine what would happen if large banks were to build the world's largest global transaction processing system: they would spend billions of dollars and then charge small transaction fees to users to cover the cost of building the system.

With Bitcoin mining, the cost for this global system is divided into thousands of computers, and they cover their costs with the newly mined Bitcoin. In short, this is a democratization of financial infrastructure.
Name

Bitcoin,25,Forex,1,
ltr
item
Wood Blank: What is Bitcoin (Bitcoin mining) mining?
What is Bitcoin (Bitcoin mining) mining?
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEidM96fSV7JX-Gh_5GPhZyaCJ-HgeZuXsWM1TvxRvGI6T1Jfqz40bkN0bTRkyJGDGu2R8XBtWm_ZpW12QpMH5GPMgOVw7lVdtLMTyithcu5xbGKUTTrSLWel8X_2vUF4NfjTUqPAiOPkrHz/s640/mining+bitcoin.jpg
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEidM96fSV7JX-Gh_5GPhZyaCJ-HgeZuXsWM1TvxRvGI6T1Jfqz40bkN0bTRkyJGDGu2R8XBtWm_ZpW12QpMH5GPMgOVw7lVdtLMTyithcu5xbGKUTTrSLWel8X_2vUF4NfjTUqPAiOPkrHz/s72-c/mining+bitcoin.jpg
Wood Blank
https://woodblank.blogspot.com/2018/10/what-is-bitcoin-bitcoin-mining-mining.html
https://woodblank.blogspot.com/
https://woodblank.blogspot.com/
https://woodblank.blogspot.com/2018/10/what-is-bitcoin-bitcoin-mining-mining.html
true
8180616158358215259
UTF-8
Loaded All Posts Not found any posts VIEW ALL Selengapnya Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy