“Mother, where do Bitcoins come from?” You see, Bitcoin is a bright young man looking for a celebrity, and because they love each other so much …
Wait, it will definitely be difficult to deal with here. Plus, my whole goal is to make things easier. However, Bitcoins are designed to solve complex mathematical problems. This is done by powerful machines that are built to solve these problems. These are called mines. The people who own these machines to make Bitcoins are called field operators. When a problem group is solved it is known as a block. Blogs are verified by other users and once verified, they are added to the so-called block chain. The chain continues to grow and is added with a new block every 10 minutes. This chain is simply a progressive book that will continue to grow and will never expire.
The most powerful machine in which a miner earns the most energy and raises operating costs per month. The reason it takes a lot of energy is the mathematical ability involved. It requires mining machines to perform complex algorithms. When a mathematical problem is solved by a machine, a few coins are fixed. Each time the 210,000 blocks are made, the reward for the contractor is reduced. It takes 4 years to achieve this. That’s why it’s like the Bitcoin Olympics. Currently the block prize is 12 Bitcoins (on June 23, 2020 the prize will be only 6 cents). The money went to a miner whose machine was the winner of the lottery at the time. There is a winner every ten minutes. There are also many competing miners again. He said the mine now has a valuable asset. My bill is enough and you pay your electricity bill and then some more.
There is another way for me. They are called cloud mining. These are the kind of mines you pay to use someone else’s network and it greatly reduces your profits. The advantage of this method is that it does not require the use of your electricity or the purchase of machinery.
Sounds good to me. I want to start mining now. Is it a good idea and can I earn a full-time income? Probably. Hold on tight right now and you can call later.
Let’s try to solve this.
To get back to the basics of mining machines, you need to start with buying the best mining machines. This will cost you about $ 2,000. Here is a picture of a good machine (Antminer S9 from Bitmain) that can generate a maximum risk of 14 TH / s. 1 TH / s with 1,000,000,000,000 hashes per second. The machine does this 14 times. That’s a lot of power. Hash is the longest number that a machine generates at any time in an attempt to address an algorithm. Once again, in order to use my lottery comparisons, all these machines are out there running away hoping to win.
Then, your chances of winning are getting bigger and bigger with more competition. In addition, each time a mathematical problem is solved, the next problem becomes more difficult to solve. Bitcoin problems change every two weeks or 2,016 buttons. The number of Bitcoins that will be created is final. That number is 21,000,000. When we get to that number there will be no more Bitcoin to be played again. However, the chain alone will continue to grow because it is used to secure any sale or purchase.
Remember the satoshi Nakamoto I rewrote? Did you know that today’s challenges are far more complex than the machines that support us than we did 1 Bitcoin back in 2009 ?! The estimate is that the final amount will be thrown in 2140 because the system reduces every four years (210,000 block). There have been 16,400,000 coins (78%) and any money from here will be thrown in gradually. Yes, you read it right away. Basically 80% was dug in the first 8 years and will take more than 100 years to complete the last 20%. If any of my great, great, great grandchildren are reading this I hope you have had a good time with our family Bitcoins that are now worth 220,000 on Bitcoin. We can all dream better!
Buying a mining machine or buying a mining contract is risky. While there are some great stories out there, make sure you research them carefully before deciding if mining will help you. For every person who makes money, there are many people who lose money.
By the way, a good place to see all the money out there with all their money and a market cap, Coin Market Cap is a very useful feature. You can see all 700 altcoins including overnight. Altcoin is another way of saying any currency that is not Bitcoin. By now you probably know that Bitcoin is like the Rose Bowl, the Grandfather of them all! I would try to reduce my interest and search for the top 10 right now. Not that there will be any success stories from one of the nonsense here. Just getting one is like picking the right amount of money. Stick to established companies that are known for their professional research and game safety. The same applies to how you spend your buying, selling, and selling. This is why I use Coinbase to create my business as it is a reliable, secure, and easy exchange. They also have more calculation methods when adding altcoins.
Here are some key points from this article:
-Bitcoins are made from mining
-Mines are operated by powerful machines that solve mathematical problems. You can also buy contracts called cloud mining if you do not want to buy a machine.
-The problem is exacerbated because costs are reduced and yields are reduced
-As of May 2017, there are only 72 Bitcoins supported per hour (12 every 10 minutes)
-On June 23, 2020, this will be from just half to 6 which was made every 10 minutes
-Almost 80% of Bitcoin’s 21,000,000 end-to-end transactions have already been withdrawn
-P competition between miners and the complex mathematical problems make it very difficult to find profitable mines
-The last coin is said to have been dug in 2140