Bitcoin Mining

in hive-183397 •  5 days ago 

Assalamu Alaikum


How are you? By Allah's grace, I'm doing very well. Today we will learn about Bitcoin mining, let's get started.

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Introduction :

When many people hear the term Bitcoin mining, they think—"Maybe something like gold or coal mining!" In fact, it is a digital mining process, where computers, powerful processors, and electricity are used to create new Bitcoin coins while simultaneously securing the network.

What is Bitcoin Mining? :

Bitcoin mining is the process by which new Bitcoins are created, transactions are verified and recorded, and the Bitcoin blockchain is kept secure. This is accomplished by solving some complex mathematical problems. This solution yields what is called "Proof of Work".

How does Bitcoin mining work? :

Transaction creation: When someone sends Bitcoin, that transaction is added to the mining pool.

Block addition: A "block" is created by combining several transactions.

Mining: Miners try to find a specific hash value for the block—which is like solving a complex problem.

Block verification: The first miner to solve this problem gets to add the block to the chain and gets the reward (BTC).

What you need to mine Bitcoin :

Component details ASIC miner (e.g. Antminer S19 Pro) Specially designed high-power mining machine Electrical connection Consumes a lot of watts (around 3250W+) Internet connection Internet is required at all times Cooling system overheats, so cooling is required Mining Software (e.g. CGMiner, BFGMiner, NiceHash)

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Income from Bitcoin Mining :

Through mining, a miner receives 6.25 BTC per block (3.125 BTC after the halving in 2028). Additional income can be earned from transaction fees, but the costs (electricity + hardware) are much higher!

Home Mining vs Cloud Mining :

🔹 Home Mining

  1. Mining is done by yourself with your own machine

  2. Full control in your own hands

  3. High initial costs (hardware, electricity, cooling, etc.)

  4. Requires technical knowledge

  5. And the risk of scams is low, because everything is your own

🔹 Cloud Mining

  1. Mining using rented servers or rigs from other companies

  2. You don't have to maintain your own hardware

  3. The cost is relatively low and easy to use

  4. But there is no control because you are dependent on others

  5. Many scamming companies take advantage of this opportunity to cheat investors

Note : If you want to do cloud mining, you must choose a company with good reviews and a trusted company. There is a high chance of loss if you invest blindly.

Future :

After 2028, the BTC reward will be only 3.125, BTC
Big companies (e.g. Marathon, Bitmain) are now mining on a large scale and newer generation ASIC devices are coming (high speed and low power consumption)

Conclusion :

Bitcoin mining is both a fantastic application of technology and a harsh reality. It is now one of the most competitive digital races in the world. If you are truly interested, you should start mining by doing your research, planning the right equipment and budget. Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.

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📷 I capture time from behind a lens, where every image is a feeling from my eyes. 🎮 I get lost in a virtual world in front of a screen, where every game is a reflection of my mind. 🎬 Every scene in a movie tells me a story, and I analyze those stories with my heart. ₿ Crypto's fluctuations are not limited to numbers—each chart is a step on the path of my curiosity. ❤️ This is me—who loves to tell stories, creates content with feeling. I find myself in every work I do.

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