What is a bitcoin miner and what does a bitcoin miner actually do?

+1 vote

asked Jul 21, 2017 in Internet by geert (260 points)

I've seen people showing Bitcoin Miners on youtube but what exactly do bitcoin miners do?

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4 Answers

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answered Jul 21, 2017 by dere (360 points)

The purpose of bitcoin mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins.

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answered Aug 6, 2019 by noah015 (2,600 points)

In short, in general, it's. But I’ve been understanding this issue for more than one month and I consider this product a good investment. Just study ICO information https://www.crypto-rating.com/ico-reviews/ and you will understand the benefits of this investment.

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answered Sep 12, 2019 by John Dill (900 points)

Mining, as well as mining, is the development of new structural elements (to ensure the functioning of cryptocurrency platforms). For the creation of new structural units, a reward is usually provided at the expense of new (issued) cryptocurrency units and / or commission fees. Typically, a set of parameters is calculated with the specified properties.

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answered Sep 12, 2019 by Alex777 (620 points)

I know that miners are those people who mine bitcoins, and then they are exchanged for money in exchangers https://exolix.com/. Miners make very good money.