How does bitcoin mining work? : r/BitcoinMining - Reddit
Nov 28, 2023 · Mining to accumulate bitcoin is like walking in zigzags, up and down mountains, through quicksand, blindfolded versus walking in a straight line. Leave mining to the big players who pay next …
Nerd Miner Review: I bought a BTC lottery miner, now I am an ... - Reddit
The main aim of this project is to let you learn more about bitcoin mining and be part of the network. To explain the term " lottery miner ": there is a very very small chance to mine a block alone with the …
ELI5: How does crypto mining work? : r/explainlikeimfive - Reddit
For Bitcoin and similar coins specifically, the miner is taking a selection of recent transactions (that haven't already been recorded in a previous block), adding a little bit of data (including the previous …
Is it worth getting into mining nowadays? : r/CryptoCurrency - Reddit
Jan 12, 2024 · 101 votes, 226 comments. trueSay there are 10,000 bitcoin miners that all mine at the same rate of 10 TH/s. The total hash rate of the network is 100K TH/s. The electricity costs of these …
Can someone explain mining like I'm 5 please? : r/Bitcoin - Reddit
Sep 21, 2013 · Not sure which part of mining interests you, but first some more general comments about mining: Because Bitcoin is a decentralized system, you need a decentralized workforce to keep it …
Eli5: how does one mine for bitcoins. : r/explainlikeimfive - Reddit
Feb 4, 2024 · For Bitcoin everyone is competing to be the person to manage the ledger for a set of transactions (adding the next block on the block chain). The mining is finding the magic number that …
ELI5: how does mining bitcoin work? : r/explainlikeimfive - Reddit
Jan 19, 2023 · That's part of why all transactions are visible to the network--every node of the network has the ability to verify that you do have the bitcoin before you spend it. As for why solving math …
Bitcoin mining - How does it work? : r/Bitcoin - Reddit
Nov 26, 2021 · Bitcoin mining - How does it work? At this current stage, my understanding is that miners attempt to solve a complex mathematical problem that facilitates the verification of blocks.
How does mining work? : r/CryptoCurrency - Reddit
Dec 11, 2022 · Proof-of-Work pros & cons from the Cointest along with other related info are in the collapsed comments below. Pros and cons will change for every new post. Submit an argument in …
how does mining work and why does it even exist? : r/Bitcoin - Reddit
Aug 1, 2015 · Mining in Bitcoin makes it so that nobody has the ability to censor (block) transactions or corrupt (change) the data in the blockchain. How does it do this? Using proof-of-work calculations to …