Basic Bitcoin Mining Computer

Basic Bitcoin Mining Computer

You might be asking yourself what Bitcoin mining means? It means mining hardware with everyone on the network to earn bitcoins. You are able to mine bitcoin, and the Bitcoin itself makes it rough every two weeks making it a bit hard to find the winning block. This can be similar to any games which becomes harder to every level you go up.

During the mining happens the hardware runs a Cryptographic hashing function which is also called a block header.  A new number will be tried to every new hash and the different number as the random element of the block header is called nonce. The target is always consist tons of numbers so a simple number is used to express it. This is known as mining difficulty. So for when you are done with the first block the next block would be harder than the one before.

Hardware

As you all know CPU stands for Central Processing Unit and only CPU was able to process so CPU was the only way to mine bitcoins. It has been relatively futile which would lead to mine for years in order to earn a single coin

Then came in GPU (Graphic Processing Unit) which was highly more efficient than the CPU and also it was able to change the landscape too.  So as mentioned before efficient work were seen, 50 to 100 more mining power and using less power per unit work.

As we all know technology changes fast, and came min FPGA ( Field Programmable gate Array). It wasn’t similar as the GPU, because it didn’t have as much mining power as GPU but provided benefit through power efficiency and ease of use.

ASIC this was the next which came in (Application specific Integrated Circuit) which was a chip designed. It gives 100 x increases in hashing power and reduces power consumption. It’s also said there is nothing to replace ASIC. And an important feature about it is that the expected useful lifetime.

Software

There are two ways which Bitcoin is been mined, Bitcoin mining pool or the Bitcoin Cloud mining. So many users use Bitcoin mining pool because it smooth’s out the luck. But first and first and foremost you should have a Bitcoin Wallet. So joining a mining pool is a must and you should be able to join a pool and should set your miners and the profit earned will be shared among the pool.

So in orderly you would need exceptional connectivity to get updates to work as fast as possible.

Solo mining will give you a large due to it been done it alone and pool mining will be equally distributed among your pool giving you small.

Cloud mining

You have to purchase bitcoins, and you would be able to earn Bitcoins without dealing any hassle as an investor. There has been tremendous cloud mining Scams. There are top rated cloud mining sites such as Hashflare, Genesis  and Hashing 24.