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Bitcoin is the pioneer among cryptocurrencies launched in 2009. Bitcoin mining is the fundamental characteristic of cryptocurrencies. It plays an important role in determining bitcoin prices. Bitcoin mining controls supply side of coin supply and is essential to understand. For additional information, please visit the website at the end of ppt
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Bitcoin Mining Bitcoin price today factors
Bitcoin - An introduction ? • Invented by Satoshi Nakamoto • Developed in 2009 • World’s first Decentralised Currency • Not regulated by Central Banks • Bitcoin price today influenced by Demand-Supply factors
Bitcoin Mining • By Miners • Miners deploy ASICS or Graphic Card • Solving complex computational problems • Generate 64- bit hexadecimal number • Target Hash number whose difficulty level is adjusted • 10 minute for mining block • Bitcoin as reward for block mining
Mining Pre-requisites • High speed internet • 3 phase AC supply preferably • Cooling equipment • Graphics Card or ASICS with high hash rate • Digital Wallet to store reward Read more about it here: Bitcoin price today- Mining details
Improving Mining profitability • Location near Hydropower project • Operation in Colder climate • Invest in ASIC with high hashing power • Join Crypto mining pool
Challenges • Affordability and Reliability of Electricity • Cooling costs • Availability of ASIC and GPU • Government Regulations eg China • Cyber Attacks
Contact Us WEBSITE: Abitcoin Home BLOG LINK: How to mine Bitcoin at home : A Step by Step Beginners Guide