Bitcoin mining is all about using your computer's power to tackle tough math problems that help confirm transactions on the Bitcoin network.
Miners get rewarded with new bitcoins and also a cut of transaction fees.
The tricky part is that the difficulty of these math problems changes automatically to keep the time between mined blocks around 10 minutes. So, when more miners come on board, the difficulty ramps up to keep that average in check.
This whole thing is crucial for keeping the Bitcoin network secure and trustworthy. But yeah, the energy use for mining is pretty massive.
my take on bitcoin mining as a beginner
4 replies 70 views
To go further, you can start reading this : https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch10.asciidoc (mastering Bitcoin - chapter 10)
It is too long to be fully pasted here.
D4rkFalconSenior Member
Posts: 308 · Reputation: 1050
#3May 11, 2022, 10:33 AM
there is like thousand of topic like this but here https://www.youtube.com/results?search_query=what+is+bitcoin+mining you can find a dozen of video from plain English to advanced Youtube in my opinion always the best when it comes to learn about crypto
ninja_viperFull Member
Posts: 178 · Reputation: 785
#4May 11, 2022, 03:07 PM
Venturing into Bitcoin mining can be quite hectic as the process can be tedious and discouraging sometimes, but when you consider the rewards attached; like the blocks of Bitcoin one gets after completing a complex mathematical problem, is enough to get one going. This link here can give more insight on what the stuff is all about link
Bitcoin mining is not for beginners. The next halving is already close and many ASICs will become useless. It is better for a beginner to start with video cards or asics for other coins, which consume much less electricity and do not make noise. And you can use them in the apartment or on the balcony.
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