пятница, 29 июня 2018 г.

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The Bitcoin.com Wallet

Available for mobile and desktop

Now live, Satoshi Pulse. A comprehensive, realtime listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today.

Latest News

What Happened to Bitcoin?

The Bitcoin Core (BTC) network is in trouble due to high fees and slow transaction times. Bitcoin Cash (BCH) is the upgrade that solves these problems.

Learn more about Bitcoin Cash with our guide

DOWNLOAD A WALLET

Get Started With Bitcoin

Learn About Bitcoin

Bitcoin is changing the way people think about money. Educate yourself about this ground-breaking payment system.

Download a Wallet

Bitcoin is received, stored, and sent using software known as a вЂ˜Bitcoin Wallet’. Download the official Bitcoin.com Wallet for free.

Use Bitcoin

Bitcoin makes it easy to send real money quickly to anywhere in the world! Bitcoin can also be used to make purchases from a variety of online retailers.

Read the Latest

Bitcoin.com offers the latest news, cutting-edge reporting. Also, don’t miss our Bitcoin guides.

Visit the Forum

Read about community issues. Voice your opinion. Check out the latest Bitcoin trends.

Play Bitcoin Games

Play casino games with free tokens or actual Bitcoin. Bitcoin Games is a provably fair gaming platform.

Start Cloud Mining

Join the most profitable mining pool in the world.

Vote on Bitcoin Issues

Bitcoinocracy is a free and decentralized way to voice your opinion. Signed votes cannot be forged, and are fully auditable by all users.

Choose your Bitcoin wallet

Find your wallet and start making payments with merchants and users.

Take time to educate yourself

Bitcoin is different from what you know and use every day. Before you start using Bitcoin for any serious transaction, be sure to read what you need to know and take appropriate steps to secure your wallet. Always remember that it is your responsibility to choose your wallet carefully and adopt good practices in order to protect your money.

Bitcoin Mining Guide - Getting started with Bitcoin mining

Bitcoin mining is difficult to do profitably but if you try then this Bitcoin miner is probably a good shot.

How Bitcoin Mining Works

Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The speed at which you mine Bitcoins is measured in hashes per second.

The Bitcoin network compensates Bitcoin miners for their effort by releasing bitcoin to those who contribute the needed computational power. This comes in the form of both newly issued bitcoins and from the transaction fees included in the transactions validated when mining bitcoins. The more computing power you contribute then the greater your share of the reward.

Step 1 - Get The Best Bitcoin Mining Hardware

Purchasing Bitcoins - In some cases, you may need to purchase mining hardware with bitcoins. Today, you can purchase most hardware on Amazon. You also may want to check the bitcoin charts.

How To Start Bitcoin Mining

To begin mining bitcoins, you'll need to acquire bitcoin mining hardware. In the early days of bitcoin, it was possible to mine with your computer CPU or high speed video processor card. Today that's no longer possible. Custom Bitcoin ASIC chips offer performance up to 100x the capability of older systems have come to dominate the Bitcoin mining industry.

Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. Several companies such as Avalon offer excellent systems built specifically for bitcoin mining.

Best Bitcoin Cloud Mining Services

Another option is to purchase in Bitcoin cloud mining contracts. This greatly simplifies the process but increases risk because you do not control the actual physical hardware.

Being listed in this section is NOT an endorsement of these services. There have been a tremendous amount of Bitcoin cloud mining scams.

Hashflare Review: Hashflare offers SHA-256 mining contracts and more profitable SHA-256 coins can be mined while automatic payouts are still in BTC. Customers must purchase at least 10 GH/s.

Genesis Mining Review: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available.

Hashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.

Minex Review: Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more.

Minergate Review: Offers both pool and merged mining and cloud mining services for Bitcoin.

Hashnest Review: Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over 600 Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest's website. At the time of writing one Antminer S7's hash rate can be rented for $1,200.

Bitcoin Cloud Mining Review: Currently all Bitcoin Cloud Mining contracts are sold out.

NiceHash Review: NiceHash is unique in that it uses an orderbook to match mining contract buyers and sellers. Check its website for up-to-date prices.

Eobot Review: Start cloud mining Bitcoin with as little as $10. Eobot claims customers can break even in 14 months.

MineOnCloud Review: MineOnCloud currently has about 35 TH/s of mining equipment for rent in the cloud. Some miners available for rent include AntMiner S4s and S5s.

Bitcoin Mining Hardware Comparison

Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:

Getting started with Bitcoin

Using Bitcoin to pay and get paid is easy and accessible to everyone.

1. Inform yourself

Bitcoin is different than what you know and use every day. Before you start using Bitcoin, there are a few things that you need to know in order to use it securely and avoid common pitfalls.

2. Choose your wallet

You can bring a Bitcoin wallet in your everyday life with your mobile or you can have a wallet only for online payments on your computer. In any case, choosing your wallet can be done in a minute.

3. Get Bitcoin

You can get Bitcoin by accepting it as a payment for goods and services. There are also several ways you can buy Bitcoin.

4. Spend Bitcoin

There is a growing number of services and merchants accepting Bitcoin all over the world. You can use Bitcoin to pay them and rate your experience to help honest businesses to gain more visibility.

1. Inform yourself

Bitcoin does not require merchants to change their habits. However, Bitcoin is different than what you know and use every day. Before you start using Bitcoin, there are a few things that you need to know in order to use it securely and avoid common pitfalls.

2. Processing payments

You can process payments and invoices by yourself or you can use merchant services and deposit money in your local currency or bitcoins. Most point of sales businesses use a tablet or a mobile phone to let customers pay with their mobile phones.

3. Accounting and taxes

Merchants often deposit and display prices in their local currency. In other cases, Bitcoin works similarly to a foreign currency. To get appropriate guidance regarding tax compliance for your own jurisdiction, you should contact a qualified accountant.

4. Gaining visibility

There is a growing number of users searching for ways to spend their bitcoins. You can submit your business in online directories to help them easily find you. You can also display the Bitcoin logo on your website or your brick and mortar business.

Bitcoin start

  • BITCOIN MINING

    Multimining is designed to be an online system used to allow any cryptocurrency enthusiast to buy hash power and begin reaping the benefits of bitcoin and altcoin mining. Once a user purchases one of the offered mining contracts, the user is entitled to immediately begin free cloud mining for their chosen coins. Just enter your address in the field below and then click on the start mining button and then see your balance growing while your computer works for you.

    LITECOIN MINING

    Multimining is designed to be an online system used to allow any cryptocurrency enthusiast to buy hash power and begin reaping the benefits of bitcoin and altcoin mining. Once a user purchases one of the offered mining contracts, the user is entitled to immediately begin free cloud mining for their chosen coins. Just enter your address in the field below and then click on the start mining button and then see your balance growing while your computer works for you.

    ETHEREUM MINING

    Multimining is designed to be an online system used to allow any cryptocurrency enthusiast to buy hash power and begin reaping the benefits of bitcoin and altcoin mining. Once a user purchases one of the offered mining contracts, the user is entitled to immediately begin free cloud mining for their chosen coins. Just enter your address in the field below and then click on the start mining button and then see your balance growing while your computer works for you.

    Ref. Commission

    Referral program is tiered in 3 levels 5%-2%-1%

    Withdraw as little

    as 0.01 coin Profit straight to your wallet.

    Protected Servers

    We use powerful dedicated servers and protected

    Free Start Mining

    Get power 30 GH/S (Lifetime) for new joining member.

    YOUR PERSONAL CONNECTION TO A STRONGER FINANCIAL FUTURE

    If you want to mine the latest crypto currencies and invest in an exploding market Multimining is a long term, secure and profitable investment program. One of the company's most prioritized activities is cryptocurrency and Altcoin Mining. Profits from this activity are used to enhance our program and increase its stability for the long term.

    In order to discuss altcoin mining we need to first understand the difference between regular Bitcoin mining. As you may know, altcoi is a term referred to any cryptocurrency which isn’t Bitcoin. Some examples of altcoins include: Ethereum, Litecoin, Dash, and much much more. When we say “altcoin cloud mining” we mean a way of mining where you constantly switch the coin you are mining on a daily weekly or Monthly basis, unlike Bitcoin mining where you would continuously mine the same cryptocurrency.

    The modern market is actively developing on the basis of Blockchain, which opens up wide opportunities for creating innovative solutions and autonomous, decentralized economic systems. In the digital age, crypto-economics takes one of the main roles, the introduction of a new business model that allows you to manage assets based on a completely new algorithm (SHA-256) or Scrypt algorithm.

    Beginner’s Guide to Mining Bitcoins

    Last updated on May 18th, 2018 at 03:08 pm

    One of the biggest problems I ran into when I was looking to start mining Bitcoin for investment and profit was most of the sites were written for the advanced user. I am not a professional coder, I have no experience with Ubuntu, Linux and minimal experience with Mac. So, this is for the individual or group that wants to get started the easy way.

    1. Get a Bitcoin mining rig

    Bitcoin mining is a very competitive niche to get into. As more and more miners come on board with the latest mining hardware the difficulty to mine increases each day. Before even starting out with Bitcoin mining you need to do your due diligence. This means you need to find out if Bitcoin mining is even profitable for you.

    The best way to do this is through the use of a Bitcoin mining calculator. Just enter the data of the Bitcoin miner you are planning on buying and see how long it will take you to break even or make a profit. However, I can tell you from the get go that if you don’t have a few hundred dollars to spare you probably won’t be able to mine any Bitcoins.

    Once you’ve finished with your calculations it’s time to get your miner. Make sure to go over our different Bitcoin mining hardware reviews to understand which miner is best for you. Today, the Antminer S9 is the newest and most powerful miner.

    Select miner

    AntMiner S9

    Antminer R4

    Antminer T9

    AntMiner S7

    AntMiner S5

    Antrouter R1

    As a side note it’s important to state that in the past it was possible to mine Bitcoins with your computer or with a graphics card (also known as GPU mining). Today however, the mining niche has become so competitive that you’ll need to use ASIC miners – special computers built strictly for mining Bitcoins.

    2. Get a Bitcoin wallet

    First thing you need to do is get a “Bitcoin Wallet“. Because Bitcoin is an internet based currency, you need a place to keep your Bitcoins. Once you have a wallet make sure to get your wallet address. It will be a long sequence of letters and numbers. Each wallet has a different way to get the public Bitcoin address but most wallets are pretty straight forward about it. Notice that you’ll need your PUBLIC bitcoin address and not your PRIVATE KEY (which is like a password for your wallet).

    If you’re using a self hosted wallet (i.e. you downloaded a program to your computer and are not using an internet based service) there’s one additional very important step. Make sure you have a copy of the wallet.dat file on a thumb drive and print a copy out and keep it in a safe location. You can view a tutorial on how to create a secure wallet here. The reason is that if you computer crashes and you do not have a copy of your wallet.dat file, you will lose all of your Bitcoins. They won’t go to someone else, they will disappear forever. It is like burning cash.

    3. Find a mining pool

    Now that you have a wallet you are probably roaring to go, but if you actually want to make Bitcoin (money), you probably need to join a mining pool. A mining pool is a group of Bitcoin miners that combines their computing power to make more Bitcoins. The reason you shouldn’t go it alone is that Bitcoins are awarded in blocks, usually 12.5 at a time, and unless you get extremely lucky, you will not be getting any of those coins.

    In a pool, you are given smaller and easier algorithms to solve and all of your combined work will make you more likely to solve the bigger algorithm and earn Bitcoins that are spread out throughout the pool based on your contribution. Basically, you will make a more consistent amount of Bitcoins and will be more likely to receive a good return on your investment.

    When choosing which mining pool to join you will need to ask several questions:

    • What is the reward method? – Proportional/Pay Per Share/Score Based/PPLNS
    • What fee they charge for mining and withdrawal of funds?
    • How frequently they find a block (means how frequently I get rewarded)?
    • How easy it is to withdraw funds?
    • What kind of stats they provide?
    • How stable is the pool?

    To answer most of these questions you can use our best Bitcoin mining pools review or this excellent post from BitcoinTalk. You can also find a complete comparison of mining pools inside the Bitcoin wiki. For the purpose of demonstration I will use Slush’s Pool when mining for Bitcoins. Once you are signed up with a pool you will get a username and password for that specific pool which we will use later on.

    Follow the link to go to their site and click the “Sign up here” link at the top of their site and follow their step by step instructions. After you have your account set up, you will need to add a “Worker”. Basically, for every miner that you have running, you will need to have a worker ID so the pool can keep track of your contributions.

    4. Get a mining program for your computer

    Now that you’ve got the basics covered we’re almost ready to mine. You will need a mining client to run on your computer to that you will be able to control and monitor your mining rig. Depending on what mining rig you got you will need to find the right software. Many mining pools have their own software but some don’t. You can find a list of Bitcoin mining software here.

    I’m using a mac so I will use a program called MacMiner. The most popular program I’ve found for a PC are BFGMiner and 50Miner . If you want to compare different mining software you can do this here.

    5. Start mining

    OK, so hopefully now everything is ready to go. Connect you miner to a power outlet and fire it up. Make sure to connect it also to your computer (usually via USB) and open up your mining software. The first thing you’ll need to do is to enter your mining pool, username and password.

    Once this is configured you’ll basically start mining for Bitcoins. You will actually start collections shares which represent your part of the work in finding the next block. According to the pool you’ve chosen you will be paid for your share of coins – just make sure that you enter your address in the required fields when signing up to the pool. Here’s a full video of me mining in action:

    Conclusion – perhaps it’s better just to buy the coins?

    To conclude this article here’s something to consider. Perhaps it would be more profitable for you to just buy Bitcoins with the money you plan to spend on Bitcoin mining. Many times just buying the coins will yield a higher ROI (return on investment) than mining. If you want to dig into this a bit deeper here’s a post about exactly that.

    US Search Mobile Web

    Welcome to the Yahoo Search forum! We’d love to hear your ideas on how to improve Yahoo Search.

    The Yahoo product feedback forum now requires a valid Yahoo ID and password to participate.

    You are now required to sign-in using your Yahoo email account in order to provide us with feedback and to submit votes and comments to existing ideas. If you do not have a Yahoo ID or the password to your Yahoo ID, please sign-up for a new account.

    If you have a valid Yahoo ID and password, follow these steps if you would like to remove your posts, comments, votes, and/or profile from the Yahoo product feedback forum.

    • Vote for an existing idea ( )
    • or
    • Post a new idea…
    • Hot ideas
    • Top ideas
    • New ideas
    • Category
    • Status
    • My feedback

    Improve your services

    Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off

    I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount

    I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be 'secure' then it'll be 'unfair' gaming and I'll lose because of the insecurity can be a 'Excuse'. Hope y'all understand my explanation!

    I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be… more

    chithidio@Yahoo.com

    i dont know what happened but i can not search anything.

    Golf handicap tracker, why can't I get to it?

    Why do I get redirected on pc and mobile device?

    Rahyaftco@yahoo.com

    RYAN RAHSAD BELL literally means

    Question on a link

    In the search for Anaïs Nin, one of the first few links shows a picture of a man. Why? Since Nin is a woman, I can’t figure out why. Can you show some reason for this? Who is he? If you click on the picture a group of pictures of Nin and no mention of that man. Is it an error?

    Repair the Yahoo Search App.

    Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

    I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

    I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and I signed in so he could try to fix the Yahoo Search App not working. He also used another phone, installed the app from the Google Play Store to see if the app would do any kind of search thru the app. The Yahoo Search App just wasn't working.

    I also had At&t try to help me because I have UVERSE for my internet service. My internet was working perfectly. Their Technical Support team member checked the Yahoo Search App and it wouldn't work for him either.

    We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.

    I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.

    I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.

    I noticed that right after I accepted the agreement that said Oath had joined with Verizon I started having the problem with the Yahoo Search App.
    No matter what I search for or website thru the Yahoo Search App it says the following after I searched for
    www.att.com.

    WEBPAGE NOT AVAILABLE
    This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
    could not be loaded because:
    net::ERR_CLEARTEXT_NOT_PERMITTED

    I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
    Then it would again say
    could not be loaded because:
    net::ERR_CLEARTEXT_NOT_PERMITTED

    This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.

    Yahoo needs to fix the problem with their app.

    Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

    I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

    I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and… more

    The Bitcoin.com Wallet

    Available for mobile and desktop

    Now live, Satoshi Pulse. A comprehensive, realtime listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today.

    Latest News

    What Happened to Bitcoin?

    The Bitcoin Core (BTC) network is in trouble due to high fees and slow transaction times. Bitcoin Cash (BCH) is the upgrade that solves these problems.

    Learn more about Bitcoin Cash with our guide

    DOWNLOAD A WALLET

    Get Started With Bitcoin

    Learn About Bitcoin

    Bitcoin is changing the way people think about money. Educate yourself about this ground-breaking payment system.

    Download a Wallet

    Bitcoin is received, stored, and sent using software known as a вЂ˜Bitcoin Wallet’. Download the official Bitcoin.com Wallet for free.

    Use Bitcoin

    Bitcoin makes it easy to send real money quickly to anywhere in the world! Bitcoin can also be used to make purchases from a variety of online retailers.

    Read the Latest

    Bitcoin.com offers the latest news, cutting-edge reporting. Also, don’t miss our Bitcoin guides.

    Visit the Forum

    Read about community issues. Voice your opinion. Check out the latest Bitcoin trends.

    Play Bitcoin Games

    Play casino games with free tokens or actual Bitcoin. Bitcoin Games is a provably fair gaming platform.

    Start Cloud Mining

    Join the most profitable mining pool in the world.

    Vote on Bitcoin Issues

    Bitcoinocracy is a free and decentralized way to voice your opinion. Signed votes cannot be forged, and are fully auditable by all users.

    Getting Started Mining Bitcoins

    Steps On Using Bitcoin

    1.Learn About Bitcoin

    Bitcoin is not the same on what you are using on a daily basis or the things that you might know. In order for you to be able to start using Bitcoins without any pitfalls or unsecured transaction, you should refer some guides on how to start with.

    2.Decide Your Desired Wallet

    On you daily life transactions, wallet plays important role that it can be just put on your mobile or computer and bring it anywhere you go. Though it is important to choose what satisfies your requirements, you can choose or change anytime you want.

    3.Accept Bitcoins

    You can get Bitcoins by any payment you receive from selling or buying transactions whether from a friend, a client or somebody near you. Using your bank account, you can also get BTC from exchange industries.

    4.Use Bitcoins For Purchasing

    There are huge amount of merchant, sellers and buyers that uses Bitcoins all over the world. You can start doing transactions to them and abide honest ratings for visibility purposes.

    Steps On Accepting Bitcoins

    1.Learn About Bitcoin

    Bitcoin doen’st need merchants to process any transactions. Bitcoin is a bit different when you compare it on what you have been using everyday. Hence, using Bitcoin is very cool but you have also to understand the concept and even the worst thing to happen when you failed using it carefully.

    2.Process Payment Transaction

    Processing invoices or payments with Bitcoin is so easy where you can use merchant services or even process it by your own to deposit money on your currency or Bitcoin. Commonly used on POS are phones or tablets for clients and customers convenience where they can just use phones and mobiles.

    3.Taxes and Accounting

    Contacting a qualified accountant is way more safer in terms of buying items from merchants and compute the appropriate tax where merchants happen to display their product information on local currency. Tax compliance is a must and you can have a lot of ways to comply easily.

    4.Becoming More Visible

    A lot of BTC users have been searching for ways and steps on how to use their cryptocurrency in purchasing items anywhere. You can put your business to online business pages in order for you to be visible to anyone.

    Bitcoin start

    How Bitcoin Mining Works

    Where do bitcoins come from? With paper money, a government decides when to print and distribute money. Bitcoin doesn't have a central government.

    With Bitcoin, miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. This provides a smart way to issue the currency and also creates an incentive for more people to mine.

    Bitcoin is Secure

    Bitcoin miners help keep the Bitcoin network secure by approving transactions. Mining is an important and integral part of Bitcoin that ensures fairness while keeping the Bitcoin network stable, safe and secure.

    • We Use Coins - Learn all about crypto-currency.
    • Bitcoin News - Where the Bitcoin community gets news.
    • Bitcoin Knowledge Podcast - Interviews with top people in Bitcoin

    Bitcoin Mining Hardware Comparison

    Currently, based on (1) price per hash and (2) electrical efficiency the best Bitcoin miner options are:

    AntMiner S7

    AntMiner S9

    • Overview - Table of Contents
    • Mining Hardware Comparison
    • What is Bitcoin Mining?
    • What is the Blockchain?
    • What is Proof of Work?
    • What is Bitcoin Mining Difficulty?
    • The Computationally-Difficult Problem
    • The Bitcoin Network Difficulty Metric
    • The Block Reward

    Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. 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.

    What is Bitcoin Mining?

    What is the Blockchain?

    Bitcoin 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.

    What is Proof of Work?

    A proof of work is a piece of data which was difficult (costly, time-consuming) to produce so as to satisfy certain requirements. It must be trivial to check whether data satisfies said requirements.

    Producing a proof of work can be a random process with low probability, so that a lot of trial and error is required on average before a valid proof of work is generated. Bitcoin uses the Hashcash proof of work.

    What is Bitcoin Mining Difficulty?

    The Computationally-Difficult Problem

    Bitcoin mining a block is difficult because the SHA-256 hash of a block's header must be lower than or equal to the target in order for the block to be accepted by the network.

    This problem can be simplified for explanation purposes: The hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. See Proof of work for more information.

    The Bitcoin Network Difficulty Metric

    The Bitcoin mining network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.

    As more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.

    The Block Reward

    When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently this bounty is 25 bitcoins; this value will halve every 210,000 blocks. See Controlled Currency Supply.

    Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.

    Contribute and translate!

    We want to spread knowledge about Bitcoin everywhere, do you think you can help us increase our content or translate for those who don't speak English?

    Visit us on GitHub and learn how to contribute.

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