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The best explanation of Bitcoin mining

2018-03-13 06:49 pm | Resource: Crypto Section | No Views : 536

The best explanation of Bitcoin mining Getting something precious will not come easy. For example, when you want to get gold, you have to dig it in the depths of the earth, as well as the digital coin bitcoin the same thing, you can get it through a process called Bitcoin mining, The development of technology and the evolution of the digital currency market. The mining process has become somewhat complex. It will not come with a simple device. In today's lesson, we will explain the process of mining the bitcoin in more modern ways and explain everything about this process.

What is Bitcoin mining?

Bitcoin Mining.
We can easily launch the mining process as a process of solving complex mathematical equations by computers with supernatural abilities, and minerals or miners are rewarded by Bitcoin. Bitcoin changes the level of difficulty of mathematical equations, depending on the speed of their solution.
At first, the process relied entirely on central processors in the devices, until the miners discovered that the process could be done with the graphics cards because they could perform these operations faster, but they use large electrical energy, thus generating very high heat.
A product was launched to process the Bitcoin mining as an alternative to computers, but it also consumed a great deal of electricity.
The first of these products is an ASIC or Application Specific Integrated Circuit chip designed specifically for the mining process. This segment of the mining process accelerated with less energy consumption.
To overcome the difficulty of mining more, Miners Pools have been created where miners meet to find solutions better than the metal can do on its own, and in the end each metal is rewarded as much as it does.

Why Becoming Bitcoin Mining Is Difficult?

Bitcoin Mining
The process of mining Bitcoin is the process of extracting Bitcoin, and affected by this process by the total mineral energy, in the sense that the more the number of minerals of the currency of Bitcoin, increase mining power and thus increase the difficulty of mining.
This is like if you are in a gold mine and are exploring for gold amid a large group of prospectors, of course there will be difficulty in getting the gold, it is the same mining of the current bitcoin.
But the increase in bitcoin mining makes the currency price rise, making mining itself profitable, despite the difficulty of mining.

Bitcoin mining

Methods of mining of bitcoin
In the case of the dear reader in the process of mining Bitcoin, you have the process of mining cloud, which is profitable and long-term investment, and achieve over the long term profits and monthly income without trouble.
Cloud mining does not require you to do anything, buy expensive mining equipment, or pay expensive electricity bills. The company offers you all these tasks because it simply buys large numbers of low-priced mining machines. If you want the cloud mining process, you have two choices They:
1 - HashFlare is one of the leading and reliable companies in the mining of Bitcoin and its profits are excellent, which is higher than any other company.
2- Genesis-Mining is the oldest and most well known and reliable company with a large base of customers from all over the world, but HashFlare is much higher than it is.

Mining machines are profitable at the moment

Antminer T9-12.5TH / s
If you want to buy a device that helps you in the mining process, Antminer T9-12.5TH / s will be among the candidates, which is one of the best mining devices at the moment. The price of the machine is about 1881 dollars, and weighs up to 5.5 kg. The electricity used with the device is $ 94 per month, and its revenues reach $ 205 per month, so the net profit is $ 112 per month.
This amount is not profitable at all because you initially have to pay the price of the device, which may take a full year, and then start to take profit.

The risk of mining from your PC

Home mining
Bitcoin mining is at home by your computer or desktop from common online activities, but you dear reader should be at risk as you do so. Here are a set of risks that may occur when you do this.

Bitcoin mining threatens to damage your PC

Bitcoin mining is a complex process that not only opens a program and leaves the device running for extended periods, perhaps 24 hours on 24 hours. The programs used are millions of calculations that consume your computer resources including random memory, processor and graphics processor.
A single block decomposition containing 25 home processes requires strong resources of up to 1 Terra HASH, while the most powerful computers do not reach this power.
What you simply do is waste time and torture the computer, and the end is inevitable. It crashes your computer and stops it from working, which can cause other losses for you, including loss of data stored on the device, the cost of repair or purchase of a new computer.

Rape viruses adore computers used in mining

Many mining programs, Bitcoin sites and digital currencies are downloading malicious software on your computer. We do not mean official sites and companies with high credibility but many fake websites that claim to give you the advantage of getting these currencies.
Viruses targeting computers used in mining are ransom-type, but do not request a physical amount directly or encrypt your files.
All you do is that you are mining secretly in your computer and this in the background without knowing, and do not aim to harm your computer, but use the times of your use of mining and make money on your account.
Trojan-Ransom.Win32.Linkup, which changes the DNS address of your device and converts your device into a mining robot, is the most popular.
These viruses are designed to infect thousands of computers and, in order to collect revenue, hackers get good returns.

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