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Bitcoin Mining?

ImElkay
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Hey guys, kinda new to the forum.  Any answers would be appreciated.  What the heck is Bitcoin mining?  I have heard it mentioned on various TekSyndacite videos and am completely clueless.  Thanks for all answers.  -Elkay

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Hey guys, kinda new to the forum.  Any answers would be appreciated.  What the heck is Bitcoin mining?  I have heard it mentioned on various TekSyndacite videos and am completely clueless.  Thanks for all answers.  -Elkay

 

You probably should have put it here > Folding@home, "Boinc and Coin Mining" section.... Probably get a better / faster response.

 

In the meantime check out this thread: http://linustechtips.com/main/topic/10886-introduction-to-bitcoins/

 

and questions here potentially: http://linustechtips.com/main/topic/11026-bitcoin-q-a-ask-me-anything/

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You probably should have put it here > Folding@home, "Boinc and Coin Mining" section.... Probably get a better / faster response.

 

In the meantime check out this thread: http://linustechtips.com/main/topic/10886-introduction-to-bitcoins/

 

and questions here potentially: http://linustechtips.com/main/topic/11026-bitcoin-q-a-ask-me-anything/

dont forget about: https://linustechtips.com/main/topic/64266-ultimate-bitcoin-guide/

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Indeed. :D

Gaming System: i7 3770k @4.6GHz, Gigabyte Z77X-UD5H, 8GB Corsair 1600MHz, 2 x MSI GTX 670 PE, Fractal R4, 256GB Crucial M4, Fractal Newton R3 1000W White

Steam Box: Xeon E3 1280 @ 3.5GHz, Intel S1200KP, 8GB Corsair White LP, 1x EVGA GTX 570, Fractal Node 304 White, 64GB Intel SSD, Fractal Tesla R2 650w White

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Hi, welcome to the forums!

 

I've moved your thread to the right subsection, they'll be able to help you better here. @megadarkwood's and @Havoc's suggestions are a good place to start, but here is a simple synopsis:

 

Bitcoin is a new form of currency called cryptocurrency. It's a distributed financial system, meaning that there is no central authority regulating the market value or any transaction done over the network. Bitcoins are "found" (created) through mining. Which, basically, is validating transactions that are done. Every transaction of Bitcoins needs to be confirmed a number of times before it is actually done. Transactions can be confirmed because of the blockchain, which is basically a list of every transaction ever made on the network. Because every transaction is logged, you're able to know with a high certainty that a given transaction is possible. The process of calculating this is done by miners and, in return they get bitcoins for doing so.

 

Interesting sites to look at are:

Hope this gets you started :)

PRODIGY -- SMALL TORRENT -- K'NEX SERVER -- NOCTUA PSU

 

Community Standards -- Moderators

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-snaaaaaap-

Also, @OP, you can message me if you need any help with anything relating to bitcoins. I will be glad to help! :D

Main Rig: -FX8150 -32gb Kingston HyperX BLUE -120gb Kingston HyperX SSD -1TB WD Black -ASUS R9 270 DCUII OC -Corsair 300r -Full specs on Profile


Other Devices: -One Plus One 64gb Sandstone Black -Canon T5 -Moto G -Pebble Smartwatch -Nintendo 2DS -G27 Racing Wheel


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Also, @OP, you can message me if you need any help with anything relating to bitcoins. I will be glad to help! :D

While this is possible, we'd prefer if it the OP creates threads about any questions he has. This way, any info is in the public domain and can be used to help multiple people ;)

PRODIGY -- SMALL TORRENT -- K'NEX SERVER -- NOCTUA PSU

 

Community Standards -- Moderators

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While this is possible, we'd prefer if it the OP creates threads about any questions he has. This way, any info is in the public domain and can be used to help multiple people ;)

Just a way to get some quick help as I am on the forum almost all day :P

Main Rig: -FX8150 -32gb Kingston HyperX BLUE -120gb Kingston HyperX SSD -1TB WD Black -ASUS R9 270 DCUII OC -Corsair 300r -Full specs on Profile


Other Devices: -One Plus One 64gb Sandstone Black -Canon T5 -Moto G -Pebble Smartwatch -Nintendo 2DS -G27 Racing Wheel


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Well, so is 700 people at any time of day ;)

Most of them don't know much about bitcoins ;)

Main Rig: -FX8150 -32gb Kingston HyperX BLUE -120gb Kingston HyperX SSD -1TB WD Black -ASUS R9 270 DCUII OC -Corsair 300r -Full specs on Profile


Other Devices: -One Plus One 64gb Sandstone Black -Canon T5 -Moto G -Pebble Smartwatch -Nintendo 2DS -G27 Racing Wheel


#PlugYourStuff - 720penis - 1080penis - #KilledMyWife - #LinusButtPlug - #HashtagsAreALifestyle - CAR BOUGHT: 2010 Corolla

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Well... I think you know why I said what I said ;)

But do I?

Main Rig: -FX8150 -32gb Kingston HyperX BLUE -120gb Kingston HyperX SSD -1TB WD Black -ASUS R9 270 DCUII OC -Corsair 300r -Full specs on Profile


Other Devices: -One Plus One 64gb Sandstone Black -Canon T5 -Moto G -Pebble Smartwatch -Nintendo 2DS -G27 Racing Wheel


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While this is possible, we'd prefer if it the OP creates threads about any questions he has. This way, any info is in the public domain and can be used to help multiple people ;)

 

 

Most of them don't know much about bitcoins ;)

 

By keeping conversations public, people can learn from old questions/concerns. Along with quicker responses from a wider audience which are subject to both constructive criticism, arguments, and/or praise.

There are a lot of people with an understanding of Bitcoin and the Crypto-Currency world. Would be a shame to keep help locked down to private messages.

You keep using that word. I do not think it means what you think it means.
Users cannot, and will not securely manage key material. Most users can't and the ones that can, wont.

Ask me about Bitcoin, Litecoin, Crypto-Currencies, and/or Mining them.

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