Bitcoin explination needed

[HairyPotter]

Hello , recently i started mining for bitcoin on my gaming pc i earn 1.35 dollars a day, i have a question i really never understood how exactly do i earn the money and who pays me the money and will mining hurt my system, im running everythibg at 100% at 54 celcius

Edited November 30, 2017 by wkdpaul

[Merp83]

1 minute ago, HairyPotter said:

Hello , recently i started mining for bitcoin on my gaming pc i earn 1.35 dollars a day, i have a question i really never understood how exactly do i earn the money and who pays me the money and will mining hurt my system, im running everythibg at 100% at 54 celcius

https://www.economist.com/blogs/economist-explains/2015/01/economist-explains-11

 

and 

 

It is possible to damage your computer by mining in the following ways:

• the computer will degrade more, as it is used more (you will have to replace it sooner than normally)
• the computer will overheat and some components will fail because of that (if for example, the computer is dusty. If the parts are well-maintained and the computer is not boxed in, this shouldn't be the issue)
• you will overload some part of your computer with the mining and it will short circuit or blow a fuse (mostly relevant if your power supply is weak, this happened to me once)

[HairyPotter]

1 minute ago, Merp83 said:

https://www.economist.com/blogs/economist-explains/2015/01/economist-explains-11

 

and 

 

It is possible to damage your computer by mining in the following ways:

• the computer will degrade more, as it is used more (you will have to replace it sooner than normally)
• the computer will overheat and some components will fail because of that (if for example, the computer is dusty. If the parts are well-maintained and the computer is not boxed in, this shouldn't be the issue)
• you will overload some part of your computer with the mining and it will short circuit or blow a fuse (mostly relevant if your power supply is weak, this happened to me once)

My pc specs: i5 6500 gtx 1050 ti msi b150 gamibg m3 mobo and corsair cx430 will i counter any extreme issues?

[Mornincupofhate]

Stop doing it. 

Youre wasting your parents money by leaving your computer on all day and you’re probably sucking up around $20 for every $1 you make.

[2FA]

You aren't mining bitcoin, you're mining some other coin and getting paid in bitcoin first off.

 

Second, think of the payment as your fee for processing transactions which is automatically given by the network.

[Merp83]

1 minute ago, HairyPotter said:

My pc specs: i5 6500 gtx 1050 ti msi b150 gamibg m3 mobo and corsair cx430 will i counter any extreme issues?

no but with that spec have u added electricity bills in

[HairyPotter]

Just now, Merp83 said:

no but with that spec have u added electricity bills in

I have a 430w psu it will handle the mining?

[Merp83]

Just now, HairyPotter said:

I have a 430w psu it will handle the mining?

probablybut you are not making profit mate

[Od1sseas]

You spend more lol

What's the point?

[Armakar]

Blockchains and datamining are very complex, you don't seem to comprehend how your even mining it let alone asking for an explination. 

[knightslugger]

21 hours ago, Merp83 said:

probablybut you are not making profit mate

a 1050ti will use what, maybe 100w and get 300-350 sol/s? it'll take 10 hours of mining to draw one KWh, worth on average $0.13 US. That's less than $10/mo on power.

 

if he's grossing $1.35/day, he's earning $40/mo.

 

that's a $30 PROFIT. Maybe that word means something different to you, but it does not mean what you think it means.