What is Bitcoin Mining ?
There are three primary ways of obtaining Bitcoins: buying them on an exchange, accepting them for goods and services and mining new ones. Mining is a process of adding transaction records to the Bitcoin’s public ledger called the Blockchain. It exists so that every transaction can be confirmed, and every single user of the network can access this ledger. It is also used to distinguish legitimate Bitcoin transactions from attempts of re-spending money that has already been spent somewhere else.
Essentially, miners are serving the Bitcoin community by confirming every transaction and making sure that every single one of them is legitimate. They all compete with one another, using software written specifically to mine blocks. Every time a new block is ‘sealed off’, meaning that a miner has successfully created a correct hash sequence, he or she gets a reward.
As of October 2017, the bounty stands at 12.5 Bitcoins per block, and this value will decrease by half every 210,000 blocks. The overall number of Bitcoins is limited, so the more coins are mined, the more valuable each of them becomes. Thus, even though the amount of Bitcoins per block will inevitably decrease, the value of miners’ rewards will most likely stay the same or even rise.
Normally, it would be extremely easy to produce a hash from a collection of information, computers are really good at this. Hence why, to prevent users from hashing thousands of transaction blocks each second and mining all of the available Bitcoins within minutes, the Bitcoin network has to deliberately make the process more difficult.
#bitcoin, #Ethereum, #binance, #Kucoin, #ICO, #Airdrops, #ETH, #airdrop, #bounty, #freecoin, #freetoken, #cryptocurrency, #crypto, #btc, bitcoin cloud mining, cloud mining, cloudmining, mine, btc cloud mining, btc cloudmining, bitcoin cloudmining, financial, Cloud, mining, crypto Currency, cryptocurrency, Crypto Finance, Crypto Exchange, Crypto Lending, Financial management, crypto mining, bitcoin money, how to get free bitcoins, Bitcoin Cloud ming, free bitcoins every second, bitcoin investment, bitcoin doubler, hyip bitcoin, bitcoin platform, bitcoin mining, btc investing, real double bitcoin, best bitcoin doubler, double in 24 hours, crypto invest, crypto investment, btc double, bitcoin, double btc, doublebitcoin, bitcoin double, double bitcoin, double your bitcoin, bitcoin doubler 2019, bitcoin double earn, bitcoin double earn, bitcoin in 24 hours, Double bitcoin new site, how to invest in bitcoin, double bitcoin in 24 hours, bitcoin double in a day, double your bitcoin in 24 hours, Trusted Bitcoin Doubler 2020,
unty btc, btc faucet, cloud mining, cloud mining without investment, crypto currencies, cryptocurrencies, cryptocurrency, cryptocurrency, cloud mining, earn money, earn money online, earning easy, earn eth ethereum, exchange, fast money, free bitcoin, free bitcoin faucet, free bitcoins, free btc, free coin, free money, free token giveaway, hyip bitcoin, mining, hyip invest, hyip investment, site hyip, site review, ico initial coin offering, introduction invest, invest bitcoins, invest cash, invest money, investment legit, #Bitcoin, Bitcoin, #Btc, Btc, Bitcoin earn, #earn, #crypto, #bitcoinearn, bitcoinearn, Work at home, Bonus Satoshi, Cloud mining, Blockchain, Make money online, #Bounty, #Airdrop, #DigitalCurrency, #Altcoins, #Exchange, bitcoin news, #Cryptocurrencies, Cryptocurrency, earn bitcoin, #bitcoin earn, #bitcoin Earning, Bitcoin Earning, #bitcoinearning, #Free crypto, Cryptocurrencies earn, #earn bitcoin, #earnbitcoin, CRYPTO MONEY, Virtual Bitcoin Mining, CRYPTOMININGFARM, earn cryptocurrency online, earn bitcoin free, earn bitcoin fast, free earn bitcoin, earn cryptocurrency, How To Earn Bitcoins, Earn money, without investment, earn bitcoins fast and easy, Earn Free CryptoCurrency, How To Earn Bitcoins, Earn money, without investment, earn bitcoins fast and easy, Earn Free CryptoCurrency, #ICO, $EOS, #EOS, #Bounty, #Crypto,