What is Bitcoin Mining

Bitcoin Mining usually refers to verification of latest transactions in the market as well as processing of new bitcoin into the chain

Bitcoin mining is done to record current bitcoin transactions in blocks, which are then added to a blockchain

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Bitcoin miners use software to solve transaction-related algorithms that check bitcoin transactions.

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After the procees got over, miners are rewarded with the bitcoins per block which solves the algorithim problem

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ever since its peak hike in price, marketers are estimated that about 80% of bitcoins are already mined and entire bitcoin circulation will be done by 2150

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Bitcoin is not overseen or regulated by a central authority, bitcoin miners confirm and verify transactions by solving complex mathematical cryptography calculations

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The current processing power needed for bitcoin mining today requires lots of energy and powerful computers for calculations

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To sum up Bitcoin Mining Requires 1.Competitive mining computers 2.Electricity 3.A low-cost power supply 4.Mining software 5.Mining pool

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Hope you people found the story indormative.For more such interesting stuff, click on the link given below

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