What is Bitcoin Mining | Platinum Trading Institute

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CRYPTOCURRENCY

• What is Bitcoin Mining?

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What is Bitcoin Mining? How can I Mine My Own
Bitcoins?

• Along with Bitcoins, their Bitcoin Mining has
  also recently captured wide interest. 
• Bitcoin mining is energy intensive, so it is very
  expensive. It also requires a Proof of Work, to
  demonstrate that the miners have expanded
  sufficient resources to win a Bitcoin fee.

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• In order to prove their claim to the fee, they
  compete on a P2P network, where the competition
  involves solving a series of complex mathematical
  puzzles.
• This competition or the race is characterized by
  the processing speed (hash rate), and the
  processing power, the hardware hash power.
• As the competition proceeds, the computer appends
  hashing functionality on the header of the block.
  The block header or a hash uses a unique set of
  numbers known as a nonce.
• The as different nonce is created, the computer
  looks for the correct nonce. Once it is
  identified, and unanimously recognized by P2P
  network, the corresponding miner is allowed to
  Bitcoin Mining as well as the finding fee,
  currently set at 12.5 coins in Bitcoins.

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How to Start Bitcoin Mining?

• The legal issues surrounding Bitcoin mining in
  the US are still evolving.
• Also, the objective of this Blog is to NOT
  recommend a process that may have some legal
  ramifications.
• Hence, the ideas presented below are meant to
  satisfy only the scientific curiosity of the
  readers. They are advised to seek legal,
  accounting, and professional help prior to
  initiating Bitcoin mining.
•  For large scale mining, they can join a best
  bitcoin mining pool or even opt for Bitcoin
  mining cloud groups. There are advantages to
  joining the best Bitcoin mining pool, as they
  collectively solve for at least some coins in a
  day.

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THANK YOU.

• If you want to stay on the top of the crypto
  technologies, innovative trading strategies, or
  simply like to be financially successful, please
  sign up for a two-day course on cryptocurrency
  trading.