Bitcoin Mining Profitability Calculator, Bitcoin Cloud Mining Calculator

Free bitcoin mining calculator that will help you find out how profitable it is to mine bitcoin today. Enter your hash rate, power consumption, hardware costs and electricity cost to find out what will be your mining profit and mining difficulty in USD (or other currency) for mining bitcoin now.

Bitcoin Mining Calculator Powered by CryptoRival 

What is Bitcoin?

Bitcoin (BTC) is a cryptocurrency, a form of digital money. It is a decentralised electronic currency without a central bank or a centralised administration that can be used from user to user on the peer-to-peer bitcoin blockchain network without the need for intermediaries. It was invented by an unknown person, or a group of persons, under the name Satoshi Nakamoto, developed and released as open-source software in 2009. The system is peer-to-peer, and transactions occur between users directly, without an intermediary. All transactions are verified by network nodes and recorded in a public distributed ledger known as a blockchain.

Besides being created as a reward for mining, bitcoin are often exchanged for alternative currencies, products, and services. On february 2015, over 100k merchants and vendors accepted bitcoin as payment. Bitcoin can also be destined as an investment. in line with research made by university in 2017, there are from 2.9 to 5.8 million unique users using a cryptocurrency wallet, the most part of them using a bitcoin wallet.

From a user perspective, Bitcoin is nothing more than a online app or computer that gives a private BTC wallet and permits a user to send and receive bitcoins with them. this is how Bitcoin works for many users. Behind the scenes, the BTC network is sharing a public ledger known as the "blockchain". This ledger contains every transaction ever processed, permitting a user’s computer to verify the validity of each transaction. The legitimacy of every transaction is protected by digital signatures comparable to the sending addresses, permit all users to own full management over sending bitcoins from their own BTC addresses. Additionally, anyone can process transactions using the computing power of specialised hardware and earn bitcoin for this service. This is as know as "mining". To learn more about Bitcoin, you can consult the dedicated page and the original white paper.

What Is Bitcoin Mining?

Bitcoin mining is the backbone of Bitcoin netword done by specialized computers.
Mining is essential for the proper functioning of Blockchain. The role of miners is to secure the network and to process every Bitcoin transaction.

Bitcoin Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions (BlockChain). For this service, miners are rewarded with Bitcoins and transaction fees. Without miners the netword could be attacked and would be dysfunctional.

How Does Bitcoin Mining Work?

Miners secures the network and confirms Bitcoin transactions. They are paid rewards for their services every 10 minutes in the form of Satoshi (Bitcoin smallest Unit).

Bitcoin Mining is a must to create new Bitcoins. Miners uses their computing power to generate new bitcoins. There is an issurance rate set in the code so that miners cannot cheat the system as well.

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