Earn Bitcoins from mining
Bitcoin mining is the process by which new Bitcoins are
generated. When you perfom mining, your computer adds new Bitcoin transactions
to the block chain (a public ledger where all Bitcoin transactions are stored)
and searches for new blocks. A block is a file that has the most recent Bitcoin
transactions recorded in it. When your computer discovers a new block, you
receive a certain number of Bitcoins. Currently a block contains BTC 25. This
number changes throughout time and gets smaller by the factor 0.5 every four
years.
Since bitcoin mining has become a hardware intense and
therefore expensive process, most individual miners join a so called mining
pool. One of the mining pools you can conect to is BitMinter for example. By
providing computing power to their pool you can earn Bitcoins from mining
without the need to build your own big mining farm. There are entire
communities around Bitcoin mining and besides the fact that you earn Bitcoins
it's also fun. You meet new people online and get in-depth knowledge about
Bitcoin as a protocol and technology.
If you want to earn Bitcoins through mining, be aware that
it is a costly and time consuming process. Read the respective introductions
and manuals to learn more about it. This website is a good starting point.
Unless you are mining just out of curiosity and want to get to know the
technology, it is important to make a cost / benefit analysis. Hardware prices,
electricity costs, bitcoin difficulty and the Bitcoin value influence the
profitability of Bitcoin mining. If
all this seems interesting to you and you want to earn Bitcoins from mining
make your first calculations on the Mining Dashboard.
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