What is bitcoin and what is a miner?

Cassie 2022-08-18

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Bitcoin has sparked a growing need for more and more people's attention since a big bull market whatsminer m30s+in China last year. In the market we all often talk about bitcoin, bitcoin miner, mining and so on. These words a lot of people for comparative analysis to understand, there are also a lot of people doubt, so they today I will and a everyone can talk about what is.

bitcoin: bitcoin is a decentralized digital currency in the form of P2P proposed by Satoshi Nakamoto in 2009 (the decentralized nature of P2P and algorithms can ensure that the value of the currency cannot be artificially controlled by creating a large number of bitcoins); bitcoin is not issued by a specific monetary institution, but is generated by a specific algorithm through a large number of calculations, and its total number is forever limited to 21 million (a very limited and very scarce). Bitcoins can be used to exchange for the currency of most countries, antminer s19 pro ebayor to purchase goods or services directly.

Bitcoin miner: A device used to earn bitcoins, usually using a specialized mining chip. Because bitcoins are created through computation, we need specialized computing hardware to do the math for the bitcoin network modules so that we can get paid in bitcoins to provide computing services. This specialized computing equipment is a bitcoin miner.

Mining: Every 10 minutes, the world's "miners" work together to compute an arithmetic problem. Whoever calculates the answer quickly and accurately gets the bookkeeping rights, which is equivalent to mining the block, and the miner is rewarded with bitcoins from the new system.

Additional knowledge.

When Bitcoin was first created, everyone was able to mine by learning the CPU of the computer. As the number of miners mining on the internet continued to grow, CPUs have grown unable to mine bitcoins and people worked to start mining with professional mining machines.

If you want to mine and become a miner, it is actually relatively easy to whatsminer m30buy specialized computing equipment, download mining software, and you can start mining.

Mining does not require you to do your own calculations, it is entirely up to the computer to perform specific calculations.

How to buy a mining machine depends on two main things:First, the computing power, and second, power consumption.

If the problem of power consumption using two intelligent machines can be basically close, then look at the arithmetic power, meaning the ability is the same unit of arithmetic power how much money I have to spend, the less the more cost-effective.