Linked Questions

5
votes
4answers
60k views

How does solving math problems create bitcoins? [duplicate]

If I understand correctly, Bitcoin mining software "creates" bitcoins by solving complex mathematical equations. Is there a need for these problems to be solved, is there a value to solving these ...
2
votes
2answers
2k views

Economics of Bitcoin Mining [duplicate]

I thought I understood the gist of what "bitcoins" are: electronic currency tokens representing $X USD that could be used to trade, buy or sell online items. But recently I heard the term "mining for ...
-1
votes
1answer
845 views

What computations does Btcoin perform during mining? [duplicate]

Possible Duplicate: What exactly is Mining? What are the exact computations dies Bitcoin is performing during the mining? I understood that it has to do something with hashes and proof-of-work. ...
0
votes
2answers
1k views

Is BitCoin Mining Basically a Game? Do the Solved Math Equations do Anything? [duplicate]

So I've been trying to learn about bitcoin, I'm a kid. It is really confusing. Is BitCoin basically a game since you solve math equations for money? And also, do the math equations do anything or are ...
-2
votes
2answers
431 views

Who provides the computers and infrastructure for bitcoin transactions to happen? [duplicate]

I am new to bitcoin. I have some fundamental questions. If bitcoin does not have any centralized entity controlling it, who provides the infrastructure for the trades to happen? Does this has ...
0
votes
1answer
372 views

How is mining of bitcoins done [duplicate]

What makes this mining process so computationally intensive and can this mining activity be substituted by other hard labors in physical world? Does this mining effort alone adds intrinsic value to ...
0
votes
2answers
406 views

What is the role of miners in Blockchain? [duplicate]

What is the need of validating and authorizing a BTC transaction. Say, for eg, A have 5 BTC in its wallet and he wants to send 3 BTC to B. What is the need to validate such a transaction? And in case ...
1
vote
2answers
296 views

how bitcoin mining works [duplicate]

The way I understand mining is that you hash the previous block hash with the new transaction files and a variable to get certain amount of zero in the hash. So the stronger your hash power is the ...
0
votes
1answer
105 views

What exactly is a block? [duplicate]

I am trying to understand the Blockchain algorithm used in Bitcoin. I do not get the part how blocks are created. Let’s say transactions occur at some time. Then, if some nodes get these ...
0
votes
1answer
131 views

Does the miner first validate transaction before doing POW or he does not validate at all ? [duplicate]

Does the miner validate the transaction before putting it on the block for proof of work? my understanding is if the miner does not validate the transaction and published the block and the block gets ...
0
votes
1answer
131 views

Bitcoin Newbie Explaination Mining [duplicate]

Now if the question is stupid forgive me. From what i have understood so far( i could be wrong ) Bitcoin is a digital currency service. Q : What is difference between coinbase.com,blockchain.info ...
0
votes
1answer
121 views

finding new bitcoins vs processing transactions [duplicate]

I'm looking to understand how minting new bitcoins and processing transactions relate on the bitcoin network. It seems that the term "miner" may refer to machines looking to mint new coins and ...
0
votes
1answer
94 views

What means discovering a block? [duplicate]

I'm reading about the miners and it always says that the miners are rewarded when a block is discovered. What is that? What they discover are new bitcoin pieces, isn't it? When they find a new ...
0
votes
2answers
71 views

how exactly does solving nounce verify the transaction [duplicate]

How exactly does solving nounce verify the transaction. or how are both of them interrelated.how does my transaction gets verified.

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