Bitcoin mining is the earning of the most popular and highly valuable cryptocurrency. This type of virtual currency appeared the very first back in 2009. Bitcoin is recognized by a large list of countries that use it as an independent payment system of equal value. Bitcoin has a number of favorable characteristics, which increase its popularity every day:
maximum anonymity due to the complete absence of personal data;
the execution of fully transparent transactions;
economic and political independence;
Limited amount of currency.
The value of this type of cryptocurrency is constantly increasing. Predictions can change in a second, and the day of the last final bitcoin coin is closer and closer. But every miner is hoping for maximum earnings, despite the uncontrollable drops and rises in the value of bitcoin on world exchanges.
The principle of mining
Hashing is the principle of mining. Hashing is an algorithmic process of selecting and creating an input (bit) chain of cryptographic symbols (hashes) to solve virtual tasks:
money transfers;
password and login storage;
file verification;
generation of electronic signatures;
building unique identifiers;
searching for duplicates;
construction of associative arrays, etc.
But to perform such hash functions, to obtain hash codes and, accordingly, to earn electronic digital currency, you will need special computing equipment and programs such as alph mining.
The technique on which the computational work will take place must have a power supply, graphics card with a graphics processor and a motherboard with a central processing unit. Based on this, we can say that the implementation of blockchain in practice and the sequential transactions that a huge system of users performs is what makes digital currencies be created and exist.
Given the position of the cryptocurrency, it is impossible to speak unequivocally about a favorable forecast, because mining is an uncontrolled independent process and it is impossible to predict the success. The decision to start mining is controversial, because there are positive and negative sides of this process. But while bitcoin is growing, miners continue to mine it and other cryptocurrencies, and withdraw their earnings to their wallets.