Post
Topic
Board Bitcoin Discussion
Re: Benefits and Future of Bitcoin Mining
by
BenCodie
on 23/01/2025, 22:46:34 UTC
It's just poorly-written article, there's nothing i already know or can be considered as "insider secrets". I suggest other reader to ignore OP and his website altogether.

Not only do I not see any statements in the OP claiming insider secrets, it's ironic for you to be judging someone else's article while you have made a borderline shit-post yourself.

Quote from: blockchainjunction dot online/unlatching-the-process-benefits-and-future-of-bitcoin-mining/
Home Mining

Although mining Bitcoin at home with a powerful graphics card or computer is feasible, the competition is fierce and there are few opportunities to make significant profits. The mining industry is fiercely competitive and demands a large amount of processing power.

There's no opportunity to make profit, unless you're very lucky to hit a block through solo mining while using CPU/GPU.

Anyone can be a part of a pool and still profit from contributing their power.

Quote from: blockchainjunction dot online/unlatching-the-process-benefits-and-future-of-bitcoin-mining/
Each cryptocurrency has its distinct algorithm and set of mining guidelines, such as Ethereum and Litecoin, therefore the process changes slightly based on the coin being mined.

When did you write this article. ETH already moved to PoS in 2022.

He said each one has its distinct algorithm and set of mining guidelines. Ethereum's distinct (consensus) algorithm is POS.

It's just poorly-written article, there's nothing i already know or can be considered as "insider secrets". I suggest other reader to ignore OP and his website altogether.

Quote from: blockchainjunction dot online/unlatching-the-process-benefits-and-future-of-bitcoin-mining/
Bitcoin mining is essentially the process of figuring out difficult riddles. It’s not as simple as it seems, though. Using modern equipment and software, miners compete with one another to produce a cryptographic number. This figure must match or be lower than the challenge cutoff determined by the Bitcoin algorithm. Bitcoins are awarded to the first miner to decipher the code, marking an incredible moment of victory.

In reality, it's not that grand. What miner does actually perform SHA-256 many times until the hash is lower or equal to current mining target.

Are you seriously undermining Proof of Work? lol...yeh, mining is insignificant, I mean, they're just running computers rite? pshhhh.
/s