So to my understanding, its basically more or less a lottery that requires electricity? I still don’t really understand how exactly it works but I’m more curious as to why it requires a strong GPU or in some cases multiple GPUs? How do the different high end GPUs contribute to bitcoin mining compared to lets say a low profile GPU? And also how does it use the GPU… is it similar to running a high demanding game or something along those lines?
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So, ignoring the question of “what is a bitcoin?” for now, the general idea is that “discovering” or “mining” a bitcoin is a very mathematically intense process. It involves trillions of calculations. And it just so happens that the *type* of calculations involved are similar to the calculations needed to display 3D graphics. So GPUs are uniquely positioned to be able to find bitcoins faster than any other type of consumer hardware.
And yes, more powerful GPUs are faster at mining bitcoins.
GPUs are masters of parallelism. You feed it some code and tell it to run 64/128/256/512/1024… copies of the code at a time on different data.
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