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What is Bitcoin mining:

  • Bitcoins are not created like regular physical currency note instead, they are mined. Bitcoin is a digital currency and they are not a physical currency which can be seen like USD. If you’re fresh to Bitcoin, learn what is a bitcoin?
  • Bitcoins are transferred from one person to another person directly without any middle man like bankgebouw involving ter it. So, how and where the bitcoins transactions are recorded?
  • Bitcoin transactions will be recorded te bitcoin’s public ledger called blockchain. The transactions are not recorded to ledger automatically, but it is done by bitcoin miners and the process is called bitcoin mining.
  • When a transaction is made inbetween two wallets, Bitcoin miners will confirm the transaction by solving some mathematical calculation using their bitcoin mining device and thus recording the transaction te the Bitcoin public ledger.
  • Bitcoin mining on past days wasgoed very effortless that it can be done with regular CPUs. When the number of people began to mine bitcoins enlargened, the difficulty of solving the mathematical problem has become so difficult.
  • So, nowadays very powerful mining hardware like ASIC which is specially created for bitcoin mining are used to mine bitcoins.
  • You cannot mine bitcoins individually and at current block difficulty, it will years to mine 1 Ƀ . So, you have to join with others to speed up the process.
  • Bitcoin miners work together spil a team to mine bitcoins by organizing pools.
  • A bitcoin pool is a place where millions of miners work together to mine bitcoins and share the mined bitcoins based on their spectacle.
  • So, you should join a pool and work spil a team and get the prize instantly based on your system show.
  • Bitcoin mining is the process where human has nothing to do. Instead, bitcoin mining is done by computers once the mining software is turned on.
  • No manual work is needed. Just switch on the PC and leave it to solve mathematical calculations. Let it mine spil long spil it is switched on.
  • Spil I said earlier that bitcoin mining through PC has become unprofitable unless your PC is so powerful. You can just learn what is bitcoin mining through your PC and once you understand totally about mining you can purchase powerful bitcoin processor and earn profits.
  • To start you should own a PC with internet connection, a bitcoin wallet to collect your bitcoins (Note: Learn how to create a bitcoin wallet te this article). Thesis are the basic requirements and a PC with the graphics card is very preferred.
  • The secondary requirements are the bitcoin mining software and a membership ter the pool, which you can learn te this article.

Bitcoin mining tutorial:

  • Install the software should look somewhat similar to this.
  • Once you accomplish this process, leave the software spil it is and join the bitcoin mining pool for mining bitcoins.
  • There are lots of bitcoin mining pools out there and I recommend you to join slush pool or Bitcoin Miner. Ter this article, I will explain about slush pool.
  • To create an account te slush pool click here .
  • Once you land the homepage, click sign up to create a fresh account.
  • The registration process is very ordinary. Just pack an username of your desire and inject your email, password to begin. Once you click the Register button, a verification mail will be sent to your mailbox. You have to click the verification listig to activate your account.
  • After activating you will receive an activation message spil shown below.
  • Your worker id will be displayed and you can note it down or if you wish to edit just loom into your account. Ter instrumentenbord click on the worker te the menukaart.
  • If you want you can use the default worker or you can also create a fresh worker or edit the same worker name spil vanaf your convenience.
  • Te the next step go to your account settings and verbinding your wallet information. If you don’t own a wallet, read this article to learn how to create a bitcoin wallet.
  • Now you are ready to mine bitcoins.
  • This is the very first mining program.
  • You can use default miner or you can set up a fresh miner and once you’ve created a miner, set server spil slush’s pool.
  • Copy the worker name that you’ve created earlier ter the slush’s pool account and paste it on the username. If you’ve created a password for your worker inject it on password opbergruimte.
  • Now, te the device select your graphics card if available spil they are capable of performing better compared to Intel/AMD processors.
  • Click embark mining button to mine bitcoins. To get more details go to the summary pagina.
  • The miner you’ve created will be underminer name. Now, the speed is most significant. I’ve very low-end PC, with basic graphics card nVidia Geforce GT 610 and my system is very old. So, the speed at which my graphics card wasgoed able to process is just Ten.Four Mhash/sec on average.
  • If you own a high-end PC it should rise to 1 Ghash/sec or more. To get profitable income your system should be able to solve at one Giga hashes vanaf 2nd. Else its waste of power.
  • The accepted katern shows the number of processes accepted and paid for it. And the stale will display the process unaccepted due to late response. See to that you’ve good internet connection.
  • When you visit your account te slush’s pool your gegevens should sync at an interval of Five minutes.
  • The pool team says presently this miner is not performing well on slush’s pool. So, if this miner does not work decently, you can also attempt the 2nd method which is so ordinary.
  • This is the 2nd mining program.
  • This is not going to look like the previous software instead, the verkeersopstopping will open te guideline prompt. But the setup is so ordinary that it can be ended within 30 seconds.
  • This software is effortless to setup. Just type the URL given below after opening the verkeersopstopping.

  • Kasstuk inject after typing the URL. Now you will be asked to inject your worker name. The worker name is the one that has bot created at slush’s pool account.
  • If you’ve created a password, inject your password and press come in. If you’ve not created any password just succesnummer the come in button on the keyboard without injecting anything.
  • Now the mining process will commence instantaneously and you can get all the gegevens from the instruction prompt ter live.
  • This is just a beginning and you cannot earn more money with your PC. So, you have to buy a bitcoin mining hardware listed below by spending money. And you can earn back the money you’ve spent within three months.
  • AMD graphics cards perform better than Nvidia Geforce GTX series cards.
  • Whether you’re going to earn or not just give a attempt to learn about bitcoin mining. Zometeen you can do cloud mining by renting hardware which can fetch you more money even without wielding any hardware.
  • Bitcoin mining is the main earning source for several people te the world. If you learn about it decently, you will be one among them.

Tags: How to mine Bitcoins, Bitcoin mining tutorial, how to earn bitcoin by mining, what is bitcoin mining, Bitcoin mining software, Bitcoin mining online.

Two comments:

Indeed this is very helpful postbode and at very first time i read and understand clearly about minig. Thank you

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