How to mine to make money quickly understand the mining principle of bitcoin

Time:2021-9-19

What is the principle of mining to make money? Mining refers to the use of bitcoin mining machine to obtain bitcoin, that is, the computer used to earn bitcoin. Recently, bitcoin is hot again. As we all know, if you want to mine, you need to choose bitcoin mining machine. Then, what is the principle of bitcoin mining machine to make money? The following small series will teach you to quickly understand the mining principle of bitcoin!

  How to make money from mining? Quickly understand the mining principle of bitcoin:

1、 Principle of Mining:

1. As long as there is a computer that can access the Internet and download the bitcoin program from the bitcoin website, a digital account will be generated when it runs for the first time, and then keep running. The program will always calculate a series of “mathematical problems”. When you successfully calculate “a mathematical problem”, you may get a certain amount of bitcoin.

2. Bitcoin is a P2P network. To maintain the operation of the network, someone needs to upload and share data online to others. The bitcoin network needs someone to contribute computer resources to calculate to ensure the operation of the bitcoin network. Therefore, bitcoin is designed so that whoever contributes computing power to maintain the operation of the bitcoin network can get the fee paid by the network – bitcoin.

2、 Safety mechanism of Mining:

Mining creates a competition mechanism equivalent to lottery. It is very difficult for anyone to continuously add new trading blocks to the block chain. This mechanism can prevent any individual from obtaining the ability to freeze some transactions, thus ensuring the neutrality of the network. This mechanism can also prevent any individual from replacing part of the block chain to reduce their own cost.

matters needing attention:

1. It is better to own DIY mining machine, from purchasing accessories to assembly, and then to mining software. Each link should be personally studied, focused, practiced, and gradually understood the blockchain.

2. Mining is actually a fixed investment process: regardless of the currency price, a certain amount of positions will be added every day.

3. The bitcoin wallet used to store bitcoin uses military level encryption, which makes it impossible for hackers to steal it easily. Bitcoin wallet also allows users to set two passwords, a public account password and a private password. The user of the public account password is to let the user receive bitcoin. If users want to withdraw or transfer bitcoin from their account, they need to use a private password.