What is bitcoin mining, meaning, definition, benefits, complete information (Bitcoin mining meaning in hindi)

Bitcoin mining क्या है, मतलब, परिभाषा, फायदे सम्पूर्ण जानकारी(Bitcoin mining meaning in hindi),what is bitcoin mining in hindi,how bitcoins are mined,what is mining, mining meaning in hindi ,meaning of cryptocurrency

Friends, you must have heard about Bitcoin mining many times before, about which it is often discussed that people are earning lakhs of rupees every month by mining Bitcoin. Now in such a situation, many types of questions keep coming in the minds of people regarding this. Like what is bitcoin mining, how is it done and in India Bitcoin mining Is it profitable to do or not?

If you also want to know the answers to these questions, then stay tuned in this article because in this article of ours today we are going to answer all these questions related to mining. So friends, now let’s start this article. Friends, first of all let us understand what is this bitcoin mining.

What is bitcoin mining?

Actually friends, there is one called Bitcoin Blockchain. Computer Works on technology. These Blockchain It is just like a trader’s ledger. That is, just as a new page is added to the ledger after the page is filled, in the same way, in Blockchain technology, a new block is created after every ten minutes, which is done by the computers that people put on mining. it happens. All new transactions are written and recorded inside this block of the Blockchain.

What is Bitcoin?

Friends, Bitcoin works on a de-centralized currency system, that is, its data is not stored inside any particular server or computer like banks. Therefore, a copy of all these transactions is inside every computer which is engaged on mining so that any transaction can be verified at any time.

If a person sells or transfers some of his bitcoins to another person on the port, then verifying whether that person really has bitcoin or not and whether the person sending bitcoin is going to the correct address or not . All these works belong to Bitcoin miners, which they carry out with the help of their special computers.

It is also called Proof of Work in other words as well as whenever a new block is created in the Blockchain, some new Bitcoins are also created inside the system. Now if put in simple words, the process of adding bitcoin transactions to the blockchain and creating new bitcoins is called bitcoin mining and those people who carry out this process by putting their computer, those people are called bitcoin miners. That is, just as mining is done inside the mines to extract gold in the world, in the same way friends have given the name of bitcoin mining to the process of making bitcoin.

How is bitcoin made?

Friends, Bitcoin is made from a complex computer algorithm, so the process of its formation is not so simple as it sounds, in fact millions of computer systems inside the world at the same time try to do mining together and one of them at a time. Only one computer can do mining, so it is also called lottery process, so basically the job of bitcoin miners is to mine new bitcoins, verify transactions and create new blocks in the block system, only then this system runs continuously without stopping. are.

By the way, for your information, let us tell you that every four years, the number of new bitcoin being created is halved. In fact, from 2016 to 2019, 1800 new bitcoins were created every day and now from 2020 only 900 bitcoins are being mined everyday which will continue like this till 2023, after that this count will decrease from 900 to 100 and so on. In the coming year 140 new bitcoins will be completely finished.

Benefits of bitcoin mining

Now the question comes that what is the benefit to those who do mining. That is, how do bitcoin miners earn. Basically, whichever bitcoin miner first solves the mathematical puzzle and adds a new block to the blockchain, then block reward is given in exchange for blocking that miner itself.

Currently the value of this block reward is six point to fight BTC. That is, in exchange for adding a new block inside the blockchain, the miner is given a six point to point bitcoin reward. However, this reward is also halved every four years like the new bitcoin. Apart from this, whenever a person buys, sells or sends Bitcoin, then that person has to pay a small transaction fee in it.

Now whoever verifies this transaction and completes this transaction fee, this transaction fee is given to that miner as a reward and this is the real earning of bitcoin miners.

Dhamtari. mining difficulty and now let’s talk about the difficulty in bitcoin mining, for your guess, let us tell you that in the year 2009, when bitcoin was started and it was validated for the first time, then bitcoin mining had difficulty one, but today it is a difficulty one. 22 trillion has been increased from Rs. By doing this you yourself can get an idea of ​​how difficult it has become to do Bitcoin mining over time. The reason for this is that in the last few years the number of new bitcoin miners in the world has increased very rapidly. Many people are doing only Bitcoin mining work by investing crores of rupees.

Also, big companies have now entered this field, which uses very expensive equipment for mining. In such a situation, this work of mining Bitcoin has become more difficult and expensive than before and because of this it is no longer possible for a person to mine Bitcoin using only one computer.

It is beneficial to do bitcoin mining inside India

Now the biggest and important question comes whether it is beneficial to do Bitcoin mining inside India or not. Friends, if the answer to this question is given in simple words, then doing Bitcoin mining inside India is not beneficial at all and the main reason for this to happen is India’s electricity cost. Actually, for mining, you have to keep many big and powerful computers open round the clock, whose power consumption becomes very high.

Now since the cost of electricity in our country is very high, so the cost of electricity in works like bitcoin mining becomes so high that all the profit from it goes to electricity itself. For your guess, let us tell you that about 65 percent of Bitcoin mining inside the world happens inside China because China’s electricity codes are more than our India. Apart from this, the equipment used for Bitcoin mining such as Axis ie Application Specific Integrated Circuit and GPS, etc., are all manufactured inside main China.

It happens from now that when these equipments are imported in India, their cost increases even more due to import duty and some taxes. Also, by the time these shipments reach India, their new versions will arrive in the market. In such a situation, the equipment used inside India becomes outdated very quickly and since the difficulty of bitcoin mining is increasing very fast, it is very difficult to do bitcoin mining with old equipment.

Due to all these reasons, mining bitcoin inside India is not profitable at all. Conclusion Now finally the question comes whether we in India should invest our money in Bitcoin or not. So friends, as we told you that due to expensive electricity and equipment in our country, how much bitcoin mining is not profitable as it is in other countries of the world like China.

Rather, it has been seen mostly inside India that most people have to bear the loss because it costs from 5 to 10 lakh rupees to set up a small level mining setup, yet if you want, you can start Bitcoin mining. Because it completely depends on you what you have to do, but I would advise you to invest your money in buying bitcoin or any other crypto currency instead of bitcoin mining.

But before investing friends, keep in mind that its rate keeps going up and down very fast. So invest only after considering all your risk factors.

What we learned about bitcoin mining meaning in hindi,

Friends, in this article, we have learned all the information we got related to Bitcoin mining. We have presented it to you. If you have any doubt related to this article. So you can feel free to comment or email us.

Through this article, we have presented you all the information related to Bitcoin mining. Due to which you will not need to go to any other site on the Internet. This will save your time. And you are getting a lot of knowledge related to Bitcoin mining in one place.

this article”What is bitcoin mining, meaning, definition, benefits, complete information (Bitcoin mining meaning in hindi)“Thank you so much for reading I hope. That you must have got to know a lot new from this article. Friends, if you liked this post of ours. So please do share with your friends and social media accounts.

Related Posts

Leave a Reply

Your email address will not be published.