Linked Questions

4
votes
4answers
70k 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 ...
0
votes
2answers
2k 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 ...
-1
votes
1answer
864 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. ...
-2
votes
2answers
444 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
527 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
1answer
384 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
627 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
436 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 ...
1
vote
3answers
266 views

How nodes solve cryptographic hash by random guesses in bitcoin network [duplicate]

I searched for a lot. Previous answers on the bitcoin stack exchange did not answer my question. Well, According to my research, Any node can collect a set up unconfirmed transactions into a block and ...
-2
votes
1answer
256 views
0
votes
1answer
234 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
127 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
2answers
121 views

How does Bitcoin choose to which miner the reward will go? [duplicate]

Let's say 100 miners with similar hashrate all try at the same time to mine the same block and finish at the same time, how will Bitcoin choose to which miner the reward will go? Is there some prority ...
0
votes
1answer
138 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 ...

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