Bitcoin Mining: How to generate Bitcoins Online

In this guide,  I’ll teach you how to generate bitcoin for free. This is called bitcoin mining. Here you will learn how to start mining bitcoins yourself.

Bitcoin mining is one of the most exclusive ways to earn bitcoin online.  Of course not really without investment because you may need to invest in the needed hardware to successfully mind bitcoins.

When I researched on this topic,  I said wow…  So people can really mine bitcoin without selling anything or providing any services. They do the mining using their computer right in their rooms.

Bitcoin Mining: How to generate Bitcoins Online

This is advanced internet business bro/sis.  There’s a bitcoin mining machine that you can use to mine bitcoins.

More About This Bitcoin Mining Business

The bitcoin market is teeming with transactions. People are sending money to other people. Others are buying and selling bitcoins on the market, hoping the price will go up.

There are many different types of bitcoins, all with their own clever little names. Things like Worldcoin, Dogecoin, Kittehcoin, Leafcoin, etc. They each have their own rate of exchange so that you know what they’re worth. In any case, coins of all sorts are moving here and there.

These transactions are heavily encrypted to ensure security of both parties. Because the transactions are encrypted, at some point, some computer is going to have to decrypt them to validate the transaction and make sure it’s good and not some hacked or fraudulant transaction to take advantage of the system.

That’s where a miner’s computer comes in. His computer’s CPU(s) and/or video card(s) will fetch a transaction entering the pool and get to work deciphering it. Video cards and dedicated circuits (ASICs) just for mining are exceedingly good at this because of the multiple processor cores and hardware accelerated math units you simply can’t find in a CPU.

Typically, a miner will have multiple video cards running in a given computer tower, sometimes 3-4 on a single power supply. Serious miners have their place of residence packed with racks of video cards pumping heat and consuming electricity like some sort of a grow op. You can earn thousands of dollars a month this way.

Bitcoin mining has changed. Today, for someone to mine and get the same success as the biggest mining players, they not only need the same technology as the largest mining companies, but also significant infrastructure, high investment, skilled teams of professionals, reliable data centers with uninterrupted cooling and relatively cheap electricity.

Each piece of hardware capable of mining is measured by it’s “hashing” ability. This is a measure of how much work the hardware can do in a given interval of time.So how can you make money from this?. Well, theoretically, your computer can become a node in the network that processes and verifies the transactions. With every blockchain that is processed a new block of 25 coins, worth around $2500 at today’s prices, is created. This is known as bitcoin mining.

By Ifiokobong

Ifiokobong Ibanga is a life coach, a mentor and an inspirational speaker. He like testing ideas to find out what works. Sure, he has made substantial income online, so he's knowledgeable enough to teach you. Hookup with Ifiokobong Ibanga on Instagram .

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