Eli5: how does one mine for bitcoins.

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I understand that it’s computers but who owns these computers and can you mine for bitcoins in any location or are certain locations better than others.

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13 Answers

Anonymous 0 Comments

There’s a computer program that does it. When the computer runs the program, it makes pieces of bitcoin depending on how far through the program it gets.

ANY computer can do it, including the one you used to post on.

However, it’s a hard program to run, and so a more powerful computer has an easier time running the program at a faster speed. More speed=further through the program faster=more bitcoin pieces.

Because powerful computers use a lot of electricity, it makes sense to run the powerful computer in a place where electricity is cheap.

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