How exactly does bitcoin mining work?

Question

bitcoin

There are so many articles on the topic of bitcoin and mining, but nowhere is it written what exactly a person should do during mining. It is also not clear why they buy computers with good video cards for mining. No one writes in detail how mining works either. Describe this process, if it is not difficult, otherwise nothing is clear at all.

Answer 1

Mining for the layman is the calculation of a long mathematical formula. They buy good video cards - because on them the number of operations per unit of time used in mining is higher than the same number for the processor. What should a person do? Well, apparently, either sleep or hold a fire extinguisher. Depending on the resource of the computer.

Answer 2

The result of mining is a well-formed block header. The difficulty here is that a valid header must have a hash less than a predetermined number.
The miner's job is to iterate over the unfixed header fields, read the hash from it, and check if he was lucky enough to get a small enough hash.
It is difficult to obtain a correctly signed block (on average, the algorithm makes sure that it takes 10 minutes) and many people work on the block at once. Pools are used for parallelization... the owner of the pool takes upon himself the formation of a block, the formation of fixed fields, checking that other pool owners have not yet found a new block, but delegates the enumeration of non-fixed fields to those who are ready to rent out their equipment.

Answer 3

Nothing has been mined on vidyukhas for a long time, now they are mined on special ASIC computers that can be bought in China. You plug it into an outlet and that's it and you sit and count how much you've earned. Only business is risky, it may not pay off ...

Answer 4

If the computer has good hardware, then you can earn good money. I personally make $300-$500 per month on this platform https://apyoth.com/click/61de90172bfa812d936aeb06/... doing nothing. Recommend!