Bitcoin is a digital currency which we can transfer very easily without involving a third party or a bank.It is decentralized currency peer-to-peer payment network, no one controls it. We can send bitcoin to anyone with very low transaction fees.Bitcoin can also be used for shopping and we can convert it into any other physical currency of the world.
Bitcoin miner is a hardware which bitcoin manufactures for us. After having installed some software in it, we can configure it in mining. After that, it is kept on 24 hours running. Then it generates bitcoin for us and that is our earning. In the early days of 2009, A simple computer was used for bitcoin mining. Then in 2010 and 2011. Gpu Rig was used for bitcoin mining. In 2013,a company (Bitmain) prepared a Model S1 180Gh/s by the name of Asic(application specific integrated-circuit) miner. Later on many upgrade models S2, S3, S4, S5, S7 and S9 prepared. Now latest model Antminer S9 speed is 14Th.
As the hash rate increased on bitcoin network, Bitcoin mining became slow. This process is called bitcoin difficulty. Because of bitcoin difficulty, Asic Bitcoin miner upgraded very fast..
GPU Rig is also a hardware which we prepare after having assembled gaming graphic card, motherboard, risers, power supply. In the beginning, Gpu Rig was used for bitcoin mining. But, when bitcoin difficulty increased, it could not mine bitcoin any longer. However, litecoin had been introduced until then and Gpu rig started mining litecoin and dogecoin . In 2014, many Altcoins were launched. Thus, many options were introduced in gpu mining and this business became safe. Now a days, gpu rig is being used for mining ethereum, classic, monero Xmr Dash or Zcash Zec…
Mining is a process in which a user is rewarded for his hardware’s work put in to help write on blockchain. When bitcoin came about being the creator Satoshi Nakamoto envisioned a fair distribution method to give btc as rewards who help secure the network. Since then mining has been running and is a race to mine bitcoins and altcoins such as Bitcoin Btc Ethereum Eth, Zcash Zec, Dash, Monero Xmr, Steem, library coins and many others that support CPU, GPU and ASIC mining. Bitcoin mining started in 2009 when the first block was mined by Satoshi himself. It is believed that the first 10 blocks were mined by him to test the network later on people like Steve Finney and Gavin Anderson jumped in to support the network. In the early days btc was only mined with cpu, later on software’s such as cgminer and sgminer allowed you to mine with gpu allowed you to mine much faster. This was followed by ASIC mining (application specific integrated-circuit), which are specially designed hardware to mine a certain algorithm came into being. This cause the bitcoin network to have the best hashing power and the strongest network in the world. However this also caused the difficulty to rise exponentially.