However, it’s not profitable for most people as mining is a highly specialized industry. Most Bitcoin mining is done in large warehouses where there is cheap electricity. To be real: Most people should NOT mine bitcoins today .
Read moreWhat is coin mining?
Mining is the process that Bitcoin and several other cryptocurrencies use to generate new coins and verify new transactions . It involves vast, decentralized networks of computers around the world that verify and secure blockchains – the virtual ledgers that document cryptocurrency transactions.
Read moreWhat is the most profitable thing to mine?
Bitcoin is the most profitable coin to mine currently , although not if you’re an individual miner, in most cases. Bitcoin mining is extremely competitive, requires specialized hardware in the form of ASIC (Application Specific Integrated Circuit) rigs, and requires cheap electricity in order to maximise earnings.
Read moreCan you mine Bitcoin on your own?
By mining, you can earn cryptocurrency without having to put down money for it . Bitcoin miners receive bitcoin as a reward for completing “blocks” of verified transactions, which are added to the blockchain.
Read moreIs Bitcoin miner a virus?
What kind of malware is BitCoinMiner? BitCoinMiner is a generic name of cryptocurrency-mining viruses . On first glance, the name suggests that these viruses mine only Bitcoin cryptocurrency, however, cyber criminals also attempt to mine other cryptocurrencies, such as Monero, Ethereum, etc.
Read moreAre Bitcoin miners illegal?
You may want to look into local regulations where you live, but for now, bitcoin mining is legal in the U.S. and most other countries .
Read moreIs bitcoin mining legal in the US?
There are few, if any, jurisdictions in the U.S. where possession of cryptocurrency is illegal . Plattsburgh, New York, however, is likely the only city in the U.S. to impose a ban (temporary) on cryptocurrency mining. Also, the U.S. Marine Corps banned crypto mining apps from all government-issued mobile devices.
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