New to Bitcoin mining

[Malleotomato]

I am interested in bitcoin, I have watched a few of Linus's videos on it but am still confused. Where do bitcoins come from? In the end who gains from bitcoin mining? Is it worth the investment or a 600$ PC? What is the most efficient way to mine bitcoin?

[Electronics Wizardy]

Its not worth it to mine any more.

 

Bitcoins from from a chunk of 25 given about every hour. After that pool runs out it comes from a cut of every transition.

[Ultimate0Player]

Bitcoins are distributed to people spending their money on power. Nearly nobody makes money from bitcoin mining, only if you are very very lucky, have special mining equipment or if you are en electricity provider. Don't buy a PC to mine bitcoins, just don't.

[Sreno1]

You need to invest thousands if not tens of thousands of dollars into specialized miners to make back the money spent on electricity (Bitcoin). Other currencies can be profitable with a smaller investment but those currencies are rare. Crypto-currencies are like stocks, you need to start investing time mining them right before they boom. ETH is an example of a currency that was profitable but then soon blew up and is growing at a rate solo miners can not keep up with. 

[Xanthe_2871]

These guys are right. Unless you already have a PC capable of mining and want to take it on vacation with you, using it on the free hotel power... I'm not sure if they'd notice and kick you out or not. I wonder how much money you could make in a 1 week vacation mining Bitcoin. Hmm.

[Malleotomato]

Ok, thank you all, I was not planning on mining bitcoins I just wanted to learn more about it.

[tlink]

20 minutes ago, Malleotomato said:

I am interested in bitcoin, I have watched a few of Linus's videos on it but am still confused. Where do bitcoins come from? In the end who gains from bitcoin mining? Is it worth the investment or a 600$ PC? What is the most efficient way to mine bitcoin?

bitcoins are created by doing calculations that help with the verification of bitcoin transactions. its not worth it anymore nowdays unless you have special bitcoin miners.

[Sreno1]

When bitcoin transactions occurs they must be verified as legitimate. Groups of transactions are called "block chains" and the operating power of computers is used to find the right answer to the block chain (they are encrypted). Every block chain will reward the computer that finds the correct answer to the block chain bitcoins. I believe a couple of years ago it was about 100 bitcoins. The reward for solving a block chain will decrease over time. To minimize losses solo miners or people with many dedicated miners will join "mining pools". These pools group the collective power of all the computers connected to this pool and act as one entity. If one computer in that pool solves a block chain the bit coin reward is split among all of those in the pool. The amount of bitcoin you receive from a pool depends on your computer's contribution to the pool.

 

Sorry if it sounds confusing and complicated, it just is.