Bitcoin Mining Step by Step (Bitcoin Step by Step Book 2)

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The goal of this book is to again take all the information that exists out there and to bring it together in a single guide that provides you the information that you need in order to succeed. Many places in the book I reference existing material. I want to give you, the reader, the information you need in an ordered fashion and lead you to places that you will need to become familiar with.

Miners are a special entity in the network. They perform a complex cryptographic algorithm that allows the network to confirm all existing transactions. The result of the mining is called a hash. This hashing is how a miner gets paid.

The original designers understood that no one would voluntarily turn on nodes and the required mining equipment without somehow receiving compensation. The miner has to pay for the equipment and pay for the energy it uses. So they designed a reward system that adds Bitcoins into the supply on average every 10 minutes. The chances of obtaining these new Bitcoins are awarded by a built in Lottery. Your ticket to the lottery the hash rate of your mining operation.

The book will cover:
– Introduction
– What is Bitcoin Mining and Why Should I Mine?
– What is a Bitcoin?
– The Network
– Do I mine in a Pool or Solo?
– How to Solo Mine
– Picking a Pool
– Using a Pool
– Choosing Mining Equipment
– Mining Software
– Mobile Monitoring
– Things to Consider
– Legal Concerns
– More Information
– Final Thoughts

Product Details

  • File Size: 643 KB
  • Print Length: 69 pages
  • Publication Date: April 30, 2013
  • Sold by:  Amazon Digital Services LLC
  • Language: English
  • ASIN: B00CLU7Z96
  • Text-to-Speech: Enabled
  • X-Ray: Enabled
  • Word Wise: Enabled
  • Lending: Enabled
  • Enhanced Typesetting: Enabled