Cryptocurrency Q&A
What is Bitcoin mining and is it legit?
What is Bitcoin mining and is it legit?
GeishaGrace
Fri Nov 29 2024
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7 answers
1491
I've been hearing a lot about Bitcoin and how people are making money through mining. But I don't really understand what Bitcoin mining is and if it's a legitimate way to earn. Can someone explain?
7 answers
Tommaso
Sun Dec 01 2024
Bitcoin mining is a process where users earn Bitcoin by participating in the verification of transactions on the blockchain.
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noah_doe_writer
Sun Dec 01 2024
The blockchain serves as a digital ledger, akin to a bankbook, that documents all transactions related to a specific cryptocurrency.
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Rosalia
Sun Dec 01 2024
Miners use powerful computers to solve complex mathematical problems, known as hashes, in order to verify these transactions.
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TaegeukChampionCourageousHeart
Sat Nov 30 2024
Solving a hash requires significant computational power and energy, making mining a resource-intensive activity.
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Riccardo
Sat Nov 30 2024
Upon successfully solving a hash, the miner is rewarded with a certain amount of bitcoin.
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