July 17, 2019 | AtoZ Markets - Bitcoin mining is one of the ways to get a bitcoin, a way that in the past has been rewarding, but now with the multitude of miners, it takes some effort to get a part of Bitcoin, and gain a rewarding profit from it. In this article we are going to learn how Bitcoin mining works.
What does “mining” mean?
Similar to the currency of the Bitcoin mining, to search for gold in its own underground mines, as well as in the Bitcoin, searching for the currency but not in the ground, however, you are still mining it on computer, in a process of great technological development.
Mining bitcoin is actually the process of adding the transactions to a public registry, called “distribution ledger”.
The ledger is a series of blocks, the bitcoins are designed to be resource intensive and difficult, so that the number of blocks found each day by the miners is still constant. These individual blocks contain evidence of work that is considered valid.
The mining process can be called the process of solving complex mathematical equations by computers with supernatural abilities.
Miners are rewarded with Bitcoins. Bitcoin changes the difficulty level of mathematical equations based on the speed of their solution.
Mining was initially done by graphics cards, which can perform these operations faster, but they use much of electric power, and then a new product was launched to assist in the mining process. The first of these products was a chip known as ASIC or Application Specific Integrated Circuit, designed specifically for the mining process, this segment of the mining process accelerated with less energy consumption.
The reasons for the difficulty of mining now
Mining Bitcoin was initially very profitable, but with the emergence of other cryptos, and the search for it, the number of miners to that currency increased to massive extents, and we know that the process of mining is the process of solving symbols and mathematical equations.
Only 21 million bitcoins will be created and then these currencies will be traded and no new currencies will be produced. All this has made the mining process difficult now.
The increase in mining on the currency makes its price rise, making the mining process profitable. That technology has provided a lot in all areas, including digital currencies of course, which have discovered new ways in the process of digital currency mining.
Bitcoin Cloud Mining
The method of cloud mining was discovered to help solve the profit in the mining process, and this process is simply a long-term investment, making a long-term profit and guarantees you monthly income without trouble, according to some testimonials.
All you have to do is join one of the cloud mining companies, which in turn buy the mining equipment, use all the machines in the network for the mining process.
Mining via CPU
A step that was used in the beginning of the process of mining the Bitcoin , and the difficulty was almost non-existent, but of course, as we talked about the development of mining, the turn to turn the step is very little.
When you search through the computer you will find many programs of mining Bitcoin, which can be prepared for a period of up to a year without winning one cent, so dear reader should avoid this type of mining because it is useless, but it should be mentioned.
Mining across graphics cards
Graphics cards are also old ways of mining Bitcoin, the power of Hess you produce will make you mining in 1 Bitcoin in about 100 years.
There are many, many new coins that can be mined in the previous two ways, but the Pitcairn is no longer fit for these years.
The risk in mining Bitcoin on your PC
If you are mining Bitcoin on your PC, you have to bear all the consequences of this process. This method is very common, but you have to be careful because you do this.
- Destroying the PC
The mining process, as we have mentioned, is complex, not just opening a program and leaving the machine running for long periods, but the programs you install and use do millions of calculations, which consume your computer resources, including random memory and graphics.
A single block decryption process contains 25 processes that require powerful resources up to 1 Tera Hash, while the most powerful computers do not reach this power. Simply what you do is waste time and torture the computer, and the end is inevitable. It crashes your computer and stops it from working. Other losses such as loss of data stored on the device, the cost of repair or the purchase of a new computer.
- Viruses love computers that are mining
Downloading programs on your computer, and constantly searching online for the mining process makes your computer vulnerable to many malware and viruses, because in the end you cannot differentiate between the original site of high credibility, and counterfeit sites, if you start you should not enter on any site except After confirming its authenticity, because the field of digital currency has many counterfeit sites that aim to steal your device data, and control in major operations.
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 their revenue, the pirates get good returns.