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[mayahn]

I’ve been hearing a lot about Bitcoin mining lately and how it’s the backbone of the entire network. From verifying transactions to earning rewards, it seems like a fascinating process.

But I’m curious—how does it really work? Is it all about expensive equipment and electricity costs, or are there other factors to consider? If anyone here is into mining or has tried it before, I’d love to hear your experiences and any tips for beginners.

Let’s discuss!

 

[Suba]

Although at first the Bitcoin mining process was very simple and we could do it with just a PC or laptop, but as time and the level/number of Bitcoin miners increased, the supply of Bitcoin decreased, so the way Bitcoin mining worked became more difficult. How Bitcoin mining works begins with transactions (sending/receiving) which will be verified by nodes on the Bitcoin blockchain and all unverified transactions will be entered into the mempool, then miners will select transactions in the mempool to be included in the block, usually based on the amount of fees, the higher the fee, the faster the process. The next process is solving the cryptographic puzzle which is the core of mining using the SHA-256 algorithm. Miners who successfully find the solution can then validate the block and will get a Bitcoin reward.

When we decide to become a Bitcoin miner, we not only consider the equipment and electricity costs, but we also need to consider the government regulations where we live and the current price of Bitcoin.