What is Bitcoin mining and how does it work?

Bitcoin is a virtual and intangible currency. That is, you cannot touch in any of its forms as with coins or bills, but can be used as a means of payment in the same way as these. With paper money, a central government decides to print and distribute the money. The Bitcoins do not have a central government.
The Bitcoin system operates as a peer to peer network, that is, anyone who uses Bitcoin is already part of the system and it is a part of the Bitcoin Bank.

How to obtain Bitcoins?

  • You can be a normal user and buy them in secure sites to buy Bitcoins and use them in stores that accept them, or you can save them while increasing their value and wait for the ideal time to use them, since their price is generally rising.
  • Or you can put to work a specialized hardware, Bitcoin Miners, depending on the system and thus become a Bitcoin miner.

In the second case, being Bitcoin miner you receive Bitcoins as compensation. The miners are an essential part of the Bitcoin transactions system.

There are more miners means that there is a safer network. The Bitcoin network automatically changes the difficulty of mathematical problems.

At the beginning the miners solved those mathematical problems with the processor of their PCs, then they discovered that the processors of their graphic cards were more efficient. It happened then that the graphic cards consumed more electricity and generated more heat.

That was left behind, today there is Best Bitcoin Mining Hardware that consumes less energy and heats up very little: they are Bitcoin miners and there are several brands.

And as far as the modality of work now forms groups of miners, called Pool Miners. In the pool miners the works of the miners are combined and efficiency increases. Currently it is necessary to join or form a pool miners group to achieve results in Bitcoin mining.

New entrepreneurs: Bitcoin Miners

Today Bitcoin mining is for many people in the world a new lifestyle, as many abandoned jobs and devoted themselves to this activity of digital mining, while others carry out this activity along with others for ensure a constant source of income. Bitcoin has been a global phenomenon that has generated new ways of understanding and using money, powered by a new generation of entrepreneurs and users who are innovating to change day by day the traditional way of doing things.

Bitcoin mining hardware

Two important factors determine the best hardware for Bitcoin mining:

  • The Hash Rate
  • The electric consumption efficiency

The Bitcoin Mining ASICs

The ASICs (chips of integrated circuits of specific application) are hardware specialized for mining Bitcoin created exclusively to solve the blocks of mathematical problems Bitcoin. They have only the minimum requirements to fulfill their function efficiently.

As Bitcoin mining increases in popularity and the price of Bitcoin currency rises, so does the value of Bitcoin ASIC hardware mining. As the hardware for Bitcoin mining increases, the difficulty of the problems increases to increase security. This makes it currently impossible to compete profitably without a Bitcoin ASIC system.

A successful brand to start is BITMAIN, a company par excellence in ASIC miners for retailers or retail, because it produces reliable and powerful hardware that adapts in prices to the needs of retailers worldwide. When you buy a Bitmain, make sure your device is an S7 or better.

By WebEditor

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