Bitcoin Mining Explained: How Does it Work?

Bitcoin Mining Explained: Do you know how to earn money from bitcoin? This article will teach you how can you make money by bitcoin through bitcoin mining.

Many people want to earn by online, and you must know about bitcoin.So read this article
about what is bitcoin?How to mine bitcoin.

You must see and know about all the currency or coin-like rupees, dollar, pound, euro etc.all are the
printed currency or coin, and maybe one of the above currency have in your wallet or you may buy
something using this currency.

Bitcoin Mining Explained
source- Pixabay

What is Bitcoin Mining with explained?
It is one type of currency that you can not see and can not watch in the real world.It is
electronically stored on your phone, computer or any storage media.This is an online currency known
as bitcoin.It is not a coin or note.It is a virtual currency.In case of original currency, it has
some value, which is controlled by some authority like government, bank, people.But in case of bitcoin,
it does not have any centralized controlling authority.Bitcoin start in 2009 by Mr.Satoshi Nakamoto,
and nowadays it is most popular.Bitcoin is one type of cryptocurrency.

Bitcoin value :- 1 Bitcoin equals

Bitcoin price in India

Bitcoin Mining Explained

Bitcoin price in the US

Bitcoin Mining Explained
The value may have fluctuated, It has no backup from any government or bank.
The trade of bitcoin may be one to one, you can send bitcoin to any other person directly without any
bank.You can do anything with it.In a bank, there has much control over your money, but they have no
control over bitcoin.You can buy bitcoin online.You can also create bitcoin wallet online.

How to earn Bitcoin?

Here many options available for bitcoin earning.You can buy bitcoin directly, and store it online
You can buy any goods or services by bitcoin.You can mine bitcoin through which bitcoin come into
Printings of note depend on many factors decide by the government, but it can not stop.
Bitcoin has a maximum limit and value, a fixed numbers of bitcoin can come into the market.Because for
this reason, bitcoin value can increase in the future.

Bitcoin Mining Explained:-

Now we explain about bitcoin mining.Total 21 million bitcoin can be mine means total 21 million bitcoin can come into existence.After 120 years later you can to see bitcoin.
For example, I have 5 bitcoin, and I want to send you some bitcoin.If I do through bank there is a
very long process and also having processing fees.

But in the case of bitcoin there is no controlling authority, so when I send you some bitcoin, but who verify the whole process?there is some mathematical problem attach, and there are many users in the world who mine bitcoin, miners have a powerful computer and also have powerful GPU.They are trying to verify the whole transaction and solve the mathematical problems.

Bitcoin Mining Explained

Bitcoin Mining Explained
source- Pixabay

If they do it then they earn some commission as a bitcoin.This is the process through which
bitcoin come into the market.The above process is called bitcoin mining.You can also start bitcoin price process.

We can brake a bitcoin up to 8 decimal point.You can use a small fraction of
bitcoin.If you want to earn bitcoin, then you need to mine it.for this, you need a powerful computer,
GPU or application specific integrated circuit to solve the math problems.bitcoin is not a stable its value will fluctuate.


Add a Comment

Your email address will not be published. Required fields are marked *