Short intro to Mining
Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions (and a "mining rig" is a colloquial metaphor for a single computer system that performs the necessary computations for "mining"). This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.
The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.
Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.
To start mining Cryptocurrency from your home can be an expensive and complicated task.
Bitmain sells more or less plug and play unit for you to start mining your own coins and start earning. They are mostly sold out due to the high demand but probably the easiest way to your own mining rig.
To calculate what profits you will get use the Coinwarz mining calculator.
The Easier solution is cloud mining where a larger company already has done the hardware investment and you can purchase your share into the computer power and start earning with daily payouts. To calculate the profits again the Coinwarz will help you.
There is many different cloud mining companies out there and some not so trusted.
The two most trusted companies listed below.
Follow the links and sign up to start earning tomorrow.
Genesis Mining Use promo code 4HfuBo to get 3% discount
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