The term mining has appeared in ancient times. Where societies were in the past based on exploration and extraction of precious gold and minerals from the ground. The mining and exploration process has evolved over time to move from just individual businesses that depend on individuals to specialized international companies that carry out mining and drilling operations using the latest devices and technologies. With the advent of the Internet and technology era, e-currencies appeared, with bitcoins being the highest and most valuable electronic currencies. And like any precious coin, bitcoins go through all the stages of any coin or metal. Therefore, we will work in this article to help you know how to conduct mining and mining operations for bitcoin currencies as the first currency in our time.
Know the process of mining
Bitcoin is a coin that appeared around 2009 and since its inception the world has turned upside down. As Bitcoin currencies changed the concept of the economic community from the so-called currencies in terms of physical presence and concrete recognition by central banks. Because Bitcoin is a digital currency that exists over the Internet only and does not have any physical presence. Despite this, the currency has a great deal of interest in the price value after the curves of the ups and downs and the stability, but the Bitcoin coin was able to prove its success and the stability of its existence, but also the interest of all analysts and economists and even the countries of the world as a whole. And recently, many countries have been forced to recognize this currency and deal with it officially in their interests and in the markets and companies and have become something recognized. So the biggest concern was how to extract and acquire these currencies because Bitcoin currencies occupied a great position in the economic community.
Therefore, the process of mining and extracting bitcoin currencies was defined as a complex mathematical process that went through several stages of development, its first and most important goal lies in checking, documenting and recording the operations that take place between electronic currency wallets (bitcoin wallets). As it performs its work to decode these operations using a specific force called hashes and some of the devices capable of withstanding high electricity and processing complex mathematical operations.
Just as Bitcoins are virtual electronic currencies that do not have a physical presence but rather their existence lies only on the Internet, also Bitcoin mining operations are carried out through the Internet networks. Mining operations are carried out through free programs that work on the use of complex, documented and coded calculations as well, and therefore anyone can invest their time in mining and obtaining bitcoins.
And not only this, but anyone with the required devices can also monitor and share the movement or transfer of bitcoin currencies between users and traders across the Internet and document transactions automatically via Blockchain, provided that these transactions are provided with an electronic signature that cannot be changed Or falsify or delete it, then the information is stored in the Internet without recording any personal information. In this Bitcoin Era, bitcoin trading changes in many ways.
Bitcoin mining business plan
The mining process is not called by this name only because of the goal of obtaining the currency, but because the process of obtaining and extracting one bitcoin is a process that requires a lot of long time. Not only is it a long time, but it also requires computers with superhuman capabilities that work for very long periods of time that may take up to complete business days without any interruption.
The process at the beginning was entirely dependent on the central processors in the devices and the ability to solve mathematical equations as quickly and soundly, until the miners discovered the possibility of doing bitcoin mining using graphics cards because they in turn perform these operations faster, but the only drawback is With these cards, they consume very large electric energy that may suffice to illuminate three entire homes, thus generating very high heat. Of course, the use of such cards was gradually stopped and a new special product was launched to help bitcoin mining easier, faster and more economically.