What is cryptocurrency mining in hindi

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Why is mining important? Is there still profit in mining Bitcoin in ? What is the cost that miners are incurring and what are some of the challenges? Bitcoin mining is a complicated process that involves validating Bitcoin transactions on the blockchain. Bitcoin miners use powerful computers to run mathematical calculations where the resulting output is a digit hexadecimal code. This happens through a process called a hashing function.

This code is added to a decentralised ledger where transaction blocks are created. These blocks are then added to the Bitcoin blockchain, which is a network of computers globally running the Bitcoin software. The process of mining is extremely power-intensive and miners currently get rewarded with 6.

With the help of PoW, miners in the blockchain reach a consensus on a transaction before adding it chronologically to a blockchain. This is how the Bitcoin blockchain is able to maintain a decentralised ledger.

Though the market price of the token plays a crucial role in the Bitcoin mining ecosystem, there are other key aspects that determine the cost as well. The difficulty is a measure of how difficult it is to mine a Bitcoin block.

If the difficulty level is high, rewards are less and if difficulty levels are low, the rewards are more. Recently, due to a crash in Bitcoin prices, many ASIC miners with high electricity costs were switched off, due to which the difficulty level dropped by 10 percent simultaneously, resulting in a 10 percent increase in Bitcoin production. It is estimated that the Bitcoin mining network alone uses over Terawatt-hours of energy per year. However, even these do not help reduce the cost of mining.

Additionally, you also have to factor in the cost of setting up a mining rig. Therefore, you also have to consider factors like cooling units and physical space for your operation to yield profits in the long run. Being the most-valued crypto in the market, the returns on mining Bitcoin are also on the higher side compared to other cryptos.

Considering the current value of Bitcoin, many miners in countries where electricity is cheap are able to yield profits as opposed to places where hardware and electricity costs are more. Despite the dip, there are a lot of miners who are still invested in this space and mining Bitcoin.

Vikash Agarwal from Bluewheel Capital, which is a crypto mining firm headquartered in Dubai, said that Bitcoin mining is still profitable.

Rohit Khandelwal, who is the co-founder of CoinGabbar. Also, you also need to understand that mining rigs require regular maintenance, so you need to be wise before choosing between the ASIC and GPU mining strategies for maximum profitability. So, while crypto mining is still considered profitable in many parts of the world, one primarily needs to factor in the cost of mining in their country as it differs from one region to the other.

Stringent policies and the increasing antagonistic demeanour of many people who lost money in crypto investments in India have led to crypto being crucified on TV debates and social media. Crypto adoption is taking a hit and so has mining. Compared to countries like Russia and Dubai, crypto mining in certain parts of India is more expensive because it mostly boils down to the cost of electricity and climate.

In India, at an average electricity cost of Rs 10 Contrary to popular belief, mining is not complex mathematical computation. It is the process of changing few numbers on a hash find one that is less than the target hash the original hash. A hash is a long hexadecimal number used to identify blocks in a blockchain, called the block header hash or block hash.

To mine a block, miners begin adding values to a hash to generate new ones until a number less than the target difficulty original hash is reached. This is called hashing. The more hashes that can be performed in a set period, the more likely a miner is to earn bitcoin. ASIC miners are optimized to compute hash functions efficiently and quickly. Although mining cryptocurrencies can be an expensive proposition of declining profitability, many people are drawn to it.

Despite the uncertain return on investment, would-be cryptocurrency miners are willing to incur high upfront expenses for pricey ASICs and pay significant ongoing costs for electricity in return for the prospect of earning cryptocurrency. Cryptocurrency mining is required by a proof of work PoW blockchain like Bitcoin to carry out its operations.

The mining process involves solving a block's hash by randomly generating numbers until reaching a number below the target difficulty number. The first miner to find the solution to the puzzle closes the block. Each winner in the bitcoin mining competition receives a reward a specific amount of bitcoin along with the transaction fees for the transactions in that block.

In Bitcoin's early days, any computer with adequate processing power could mine bitcoin. However, those days are long gone; bitcoin's soaring popularity and growing acceptance have attracted hordes of crypto miners. At the same time, cryptocurrency mining has become exponentially more difficult because the mining difficulty changes as miners enter and exit the network. Over time, the number of miners has constantly grown, which increased the difficulty.

These developments have resulted in a race to harness the most "hashing power," the term used to describe how many hashes per second a miner can generate or the combined hashes per second of a networked mining rig or pool.

ASIC miners came about as a result of this quest for more hashing power; modern Bitcoin ASICs can hash at more than terahashes per second nine zeros, or x 10 12 hashes per second. Because each cryptocurrency has its own cryptographic hash algorithm, an ASIC miner is designed to mine using that specific algorithm.

Though this means that an ASIC miner could technically mine any other cryptocurrency based on the same algorithm, most miners who invest in ASIC hardware designed to mine bitcoin or Litecoin stick to mining that specific cryptocurrency. Many miners join a mining pool to increase their chances of earning bitcoin. Mining pools usually pay shares of rewards based on a miner's hashrate and work contributed.

Before investing thousands of dollars in an ASIC mining rig, here are some factors to be considered:. Bitcoin mining is the process of solving for the two-digit encrypted number contained in a block's hash called the nonce. A miner adds values the nonce to a block's hash trying to generate a number less than the difficulty target. When it is solved, the hash is solved, and the block is validated.

The validator receives a reward. ASIC mining machines are developed for mining a specific cryptocurrency, such as Bitcoin or Litecoin. However, they are slower and much less efficient for mining cryptocurrencies than ASIC miners. Mining these cryptocurrencies with ASIC mining equipment is virtually impossible; even if one tries to do so, the returns would be limited. The primary rationale for ASIC-resistant coins is to preserve the decentralization of their blockchains, which was one of the core principles behind creating Bitcoin.

Mining and Consensus. Cambridge Center for Alternative Finance. Institute of Reseach and Journals. Your Money. Personal Finance.

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How Bitcoin mining works? Features: 1. Apke dwra di gayi jankari bahut hi sahi hai. Ease padkar bahut kuch sikhne ko Mila. Ek sawal hai Kya mining karne ke liye member ship package Lena hota h kyuki mere USD rule huye h. Good article and right to the point.

Thanks in advance. Server mining app ko download kiye h r usme credit k liye 0. Please help and cooperate. Sir this artical is very useful. Hello Lavish ji, Thanks. Hello Jaiprakash ji, yadi aapko bitcoin mining karni hai to aapko achha processor chahiye aur achhe grphichs card chahiye. Hello Madanmiri, aap google playstore mein stith apps se mining kar sakte hain lekin Mobile se mining se karne se aapko jyada karcha aa sakta hai, kyunki iske liye jyada bade processor wale system, graphics card ki jarurat hoti hai.

BroпїЅMobile se Mining possible ni hпїЅ. Lekin Laptop se kiya ja skta hai using with High Graphic Cards. But it still can harm your Laptop because mining Require much Energy which produces so much heat by you Laptop. OK Sir Please tell me on what factor bitcoin or any other coin rate increased or decreased?

There are around levocoins in my wallet current LVPS rate is 0. Hello Balasaheb ji, mein aapko bata dun ki bitcoin ki price uske demand aur supply ke hisab se badhta aur ghata hai. Bitcoin mining in hindi very important information, Thanks Can I directly call you please give mobile no. I am involved with levocoin cryptocurrency. Thanks, Balasaheb.

Please understand that we cannot give our number for some reason. Please understand buddy. Thank u so much Prabhanjan. Hame aap se ek sikayat hai , aap mere Blog hindipatrika. Mai aap ne niwedan karunga ki aap bere blog ko bhi apne dosto me sahre karen.

Hello Amit ji, maine aapka blog dekha aur mukhe laga ki aap sahi kar rahe hain. Sath mein aapke readers ko nazar mein rakhte hue articles likhen. ICO, coin release hone se pehle hota hai. Ek baar release ho jaye to aap coin ko dushre exchanges pe kharid sakte hai. Aapki Post bhut hi jankari se bhari he thanks Abhi koi werichcoin nam ki company se bhi coin bech rha he kya isme invest krna chahiye.

Hello Surendra ji, yahan is article mein jo bhi currency mention kiya gaya hai isliye yahan se aap koi bhi choose kar sakte hain. Hello Yash ji, Bitcoin ek risky investment hai, isliye ismein investment se purb thoda research khud kar lein. Sir apke samjhane ka tareekabahut acha hai, koi bhi apke lekh ko aasaani se samjh sakta hai aur dusro ko bhi aasaani se samjha sakta hai. Save my name, email, and website in this browser for the next time I comment. Mai bijay yadav mai avi naya join karna chata hu paisa dubanay ka risk hi.

Cryptocurrency Mein lenden Karen ya nahin Karen iske bare mein sahi jawab den. Jab bhi koi sawal dalo aapke hi post pehle dikhti Kyonki aapke har ek content me dum hai Keep it up. Educate the people regarding cryptocurrenciesпїЅпїЅ.. Sir, Kya onpassive ka payment cryptocurrency hai, please send details. Sahi hai abhi ke time mein. Aage ke bata nahi sakte. Jaysukh ji, Korvio coin nayi hai isliye ismein invest karne se pehle thoda research karen. Hello sir , bitcoin India main legal ho Gaya hai ya Nahi.

Very good bro, kafi mehnat se likhte ho aur samjhane ka trika bhi asaan hai. Vikash ji, cryptocurrency India mein philhaal ban hai. Maine ye blog ko study kiya , aap bahut achha likhate ho. Sir cryptocurrancy ke coin. Or ico me kya difference hota h?

Bitcoin bhand toh ni ho jayega. Achha hai, bas thoda formating par dhyaan dein aur pics ka istamal karen samjhane ke liye. Thanks, Deepak. Aapka compliment hame aage achhe articles likhne ko prerna deta hai.