Linked Questions

15
votes
6answers
62k views

Mining pool hashrate effect on a miner's income

Newbie miners have many misconceptions about how the hashrate of the pool they mine in will affect their mining income. If a big miner joins the pool there are some unhappy miners who think that now ...
0
votes
0answers
33 views

basics of cryptocurrency [duplicate]

I recently became interested in cryptocurrency and its mining process but there are a few things I don't understand very well and I am still trying to learn the basics more before getting into trading ...
3
votes
6answers
10k views

Who issues bitcoins and how?

I can't find information on who actually issues the bitcoins. I understand that miners generate new bitcoins but what party is responsible for issuance?
4
votes
1answer
444 views

Who decides the block reward in Bitcoin?

I know that when a miner mines a block, he will be rewarded with some bitcoins. But who decides how much bitcoin he will get? If it is decided by all the miners (as they are the ones verifying ...
66
votes
9answers
92k views

Where do bitcoins come from and what gives them their value?

Where do bitcoins come from? From the WeUseCoins.com video it appears they are just being produced by "miners" and sold to people. So who backs Bitcoin or gives it its value?
54
votes
3answers
17k views

Will there be 21 million bitcoins eventually?

Every x blocks the mining reward is halved. Will the reward be halved forever such that we never quite reach 21 million bitcoins, or will we reach 21 million bitcoins at some point and will the reward ...
4
votes
3answers
465 views
8
votes
3answers
6k views

How exactly do new bitcoins come into existence?

I understand that currently new bitcoins are awarded during the validation/mining process. However, how exactly does the system determine that bitcoins that were previously nonexistent should be ...
42
votes
5answers
27k views

What will happen to mining after the 20 999 999th Bitcoin?

After the 21 millionth bitcoin or 20,999,999th bitcoin is mined, what will happen to bitcoin mining? - will it just stop, or will we make a further division of the satoshi thanks to Bitcoin's infinite ...
1
vote
1answer
61 views

Is it technically possible to change the total amount of Bitcoin?

Also, is it possible to change the reward cycle duration or the number of mining- reward coins?
194
votes
8answers
114k views

What exactly is Mining?

I have heard that mining is for people with ready hardware and blah blah blah... But what exactly is it? Does it operate like real mining? I mean, people talk about it like you are physically mining.
207
votes
21answers
93k views

What is a good way to concisely explain Bitcoin?

Often I'm asked to explain Bitcoin to someone and occasionally I come up with something stellar that really nails it, but most times it's a rambling incoherent mess. What I would like to see is a ...
4
votes
2answers
96 views

How do fees get processed in bitcoin? (protocol question)

If the fee isn’t written into the ledger, and it’s just the difference between the input transaction amount and the output transaction amount, how does the miner prove he has access in his wallet to ...
1
vote
1answer
591 views

When will there be no 'mineable' bitcoins left?

At today's rate of progression when will the market cap of 21 million be reached? If bitcoin increases at such a rate. In addition to this, is it true that when the market cap is reached, miners will ...
2
votes
2answers
121 views

Is it possible that bitcoin community along with core developers introduce new bitcoins into the system for the good cause?

I want to create a imaginary scenario here to clarify my question. Let's say, a bitcoin community is thriving at Cuba. Somehow few thousand Cubians manage to relocate at the remote location at Cuba ...

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