General Question

antimatter's avatar

Who used Blockchain software to mine bitcion?

Asked by antimatter (4424points) December 21st, 2017

A few weeks ago I saw a video on You tube that claims that you can mine bitcion within 40 min. I have been mining bitcion for a year now and I am wondering if any of you have done it. The video claims that the software blockchain can do it. I followed the link but the software could not be installed because I am running a 64 bit OS and the software requires a 86 bit OS

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6 Answers

zenvelo's avatar

Blockchain is not mining software. Blockchain is a distributed ledger system for recording transactions.publicly and sequentially.

RocketGuy's avatar

1) I have never heard of 86 bit OS.
2) most of the easily obtainable Bitcoin have been mined.

Rarebear's avatar

@RocketGuy How do you mine bitcoin? Where does it “come” from?

dabbler's avatar

How old is that youtube? Nobody has mined a bitcoin in 40 minutes for years except maybe with custom FPGA hardware.

RocketGuy's avatar

Bitcoins are unique number codes, based on prime numbers, that you can trade with other people. Bitcoin trades are backed by a block chain system that tracks every trade to ensure 100% accountability for each trade (can’t duplicate and trade the same Bitcoin). Being that each coin is based on a prime number, the smaller prime numbers have already been claimed. Mining software tries to generate new prime number codes that mesh with the Bitcoin standard. If successful, the code is saved into the block chain and you have created a Bitcoin for yourself. At this point, only super long prime numbers are still undiscovered, so it takes a long time to find each code. The cost of electricity to run a computer to do that is more than the value of 1 Bitcoin at this time. Better to spend that money to buy the ones discovered (mined) already.

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