Today, the way to extract Bitcoin has become very difficult with the increase in the number of miners and mining devices. Because every time a machine mines a bitcoin, the next machine needs to solve more difficult mathematical transactions and also has to break more nodes. This issue also increases the safety of this digital currency, because a hacker must hack all the blocks of a blockchain to reach the last node or the last block. How to mine Bitcoin is not so easy and normal computers are not able to mine Bitcoin. Therefore, in order to extract bitcoins, supercomputers and setting up a bitcoin farm are needed. In the rest of the article, we intend to teach you how to extract bitcoins and how to set up a bitcoin farm.
Labels: Order to build a Forex robot , Build a stock trading robot , Build a trading robot , Merchant robot design , Free Forex Robot , Forex robot programming , Forex Expert Making Training , Build a trading robot with Python , Download Forex Trading Robot , Buy Forex Trader Robot , Automated Forex Robot , Free stock trading robot , Learn how to build a Forex trading robot , Alpari trading robots , Forex robot for Android , MetaTrader robot design , MetaTrader robot programming , Forex robot design , Forex robot programming , automated trading
What is Bitcoin?
Bitcoin is the most powerful and expensive digital currency in the market. This digital currency was founded in 2008 by a group named Satoshi Nakamoto and launched in the financial markets at a price of less than $1. This digital currency reached the price of 20 thousand dollars after 14 years. The trading volume of this digital currency in the last 24 hours is more than 37,882,313,598 dollars. The purpose of producing this digital currency has been to increase the safety and convenience of money in peer-to-peer financial markets. You can get and buy Bitcoin from various exchanges such as Binance. Learn more about this exchange and how to buy and sell digital currencies by reading the Binance exchange training article. In the rest of the article, we will introduce you to how to mine Bitcoin and the Bitcoin farm.
How to mine Bitcoin?
Bitcoin mining process is the same as mining other digital currencies, but the process is a little more difficult. Bitcoin mining is done through large computers or supercomputers. By solving complex mathematical problems, supercomputers receive bitcoins, which are added to the chain every time a new block is mined. On average, a block is added to the chain every 10 minutes, and each user who does so is rewarded with 6.25 bitcoins. Therefore, your device must be able to solve mathematical transactions in less than 10 minutes so that you can receive that bonus sooner than others. Also, one device cannot do this in such a short time, so they use several different devices for mining. Now that you are familiar with how to mine Bitcoin, we are going to answer the question of what is a Bitcoin farm.
Read more: Advanced digital currency course
What is Bitcoin Farm?
A bitcoin farm is a place where several advanced computers are located and are solving complex mathematical transactions to mine bitcoins. The devices that do this are called miners, which are categorized based on processing power and power consumption. The farm must have a very good cooling system, because miner devices heat up quickly and the lack of a cooling system causes the device to fail. Bitcoin farms are usually built outside the city, because the mining machines and cooling fans have high noise pollution.
Is bitcoin farm legal in Iran?
The entry of miner devices was illegal before 2018 and was in line with breaking the law. If a mining device was seen at the customs, it would be confiscated quickly. After July 2018, the law on the entry of miner devices into Iran was liberalized, and people were allowed to import these devices after receiving a license from the Ministry of Industry and Mines. The way to get a license to import miners is that you have to go to Behinyab website first. Then, on this website, you register your request to import miner devices and also create a farm. Of course, the acceptance of your request has conditions that we will discuss in the next step of the article on how to mine Bitcoin.
Conditions for getting a farm license
Industrial users are the only ones who can get this permission, so residential and commercial properties are not allowed to create bitcoin farms. The minimum allowed consumption watt is 100 kilowatts and if your consumption limit is less than this value, you will not be able to get a license. To create a farm, you need at least 30 miners, because each machine consumes an average of 5-6 kilowatts of electricity. If you have these features, then you need to introduce a place to create a Bitcoin farm and after getting the location approved, you can create your own farm.
Read more: How to mine Ethereum
How to create a Bitcoin farm
In the previous part of the article, how to extract bitcoins, we explained the requirements for obtaining a farm license. After getting the license you need to learn about different miners. The way to recognize a good miner is that the more hash power and less power consumption it has, the better the device is. So a device with a high hash rate can easily solve more complex mathematical transactions. On the other hand, when its electricity consumption is less, your electricity cost will decrease during Bitcoin mining; Less cost, more profit. After you have purchased the desired miner according to your budget, it is time to find a suitable place to build a Bitcoin farm. Industrial towns are the best place to create a farm, because it is far from the city and the electricity needed by the devices will be well supplied.
Bitcoin mining at home
Until a few years ago when few Bitcoin blocks were cracked and the number of blocks was small, it was possible to mine Bitcoin at home. But today, due to the fact that a large number of people mined bitcoins through miner devices, it is not possible to solve mathematical equations with normal computers, and on the other hand, a lot of electricity is needed to mine bitcoins. Therefore, it is practically not possible to mine bitcoins at home, and if the government encounters this case, it will fine and punish the person who cheats. Bitcoin mining is one of the ways to earn bitcoins, digital currency hacking is another one of these methods. Get familiar with hacking methods by reading the digital currency hacking training article.
Bitcoin is the best digital currency in the market, and mining is one of the ways to earn Bitcoin. On the other hand, Bitcoin mining does not require any special knowledge about digital currencies, and Bitcoin can be mined easily with just a few miner devices. The way to mine Bitcoin is the same as other digital currencies, but due to having consecutive blocks, creating a new block is a bit difficult and difficult. In this article we discussed how to mine bitcoin and farm bitcoin, we hope this article was useful for you.