How to mine Bitcoin

Our knowledge in the mining industry is using gunpowder to blast or using moving machines and equipment to dig soil, and we have dug repeatedly where there might be minerals.  The digging process requires a lot of energy or oil.  The ultimate goal is to get land.  The corresponding metal is then exchanged for other legal currencies.


 Bitcoin mining isn't exactly what you're mining, it's an analogy.  Bitcoin mining means using the processing power of a special chip to repeatedly calculate the value of a function for a one-way function with different input values.  The computation process consumes a lot of power.  The ultimate goal is to find a function.  the output meets certain regulatory conditions, it can be split between new bitcoins and bitcoin transaction fees, miners can exchange the allocated bitcoins for other common legal currencies for use.


 In fact, Bitcoin mining is not really what you dig.  Mining is just a metaphor.  It is designed to distribute transaction fees and newly issued bitcoins to “miners” in accordance with the principle of public distribution.  In a sense, the probability that a miner can be allocated is proportional to the computing power of the miner.


 It has bitcoin process synchronization problem, the upper limit is imposed by the strict specifications of the open source program.  Essentially, the issuance of new bitcoins is done by programming code approximately every ten minutes, and new bitcoins plus transaction fees paid by traders will be awarded to those who participate in verifying bitcoin transactions (called miners).  Those who provide the computing power to verify sending and receiving bitcoins (miners) who participate in this verification process can be classified as bitcoins. The verification process is for mining.i

Snce obtaining newly issued bitcoins is similar to mining discovered gold mines, we say that the people who can receive newly issued bitcoins are miners.  It's not that they actually have some kind of underground minerals.  Booty is just a kind of analogy.  According to the statement, the validators involved in bitcoin transactions are collectively referred to as miners because they make a “verification” contribution to bitcoin transactions, so there is a small chance of receiving newly issued bitcoins plus processing fees as rewards.


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