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Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as the blockchain. Mining is done by using extremely powerful computers (known as ASICs) that race other miners in an attempt to guess a specific number.
The first miner to guess the number gets to update the ledger of transactions and also receives a reward of newly minted Bitcoins (currently the reward is 12.5 Bitcoins).
To be profitable with Bitcoin mining these days you need to invest heavily in equipment, cooling and storage. It is not possible to mine profitably at home with a PC or a GPU. You can calculate your profitability using a Bitcoin mining calculator.
0:20 – Bitcoin mining in a nutshell
3:13 – Mining difficulties and block time
4:22 – Evolution of Bitcoin mining hardware
6:30 – Bitcoin mining pools
7:24 – Is Bitcoin mining profitable?
10:41 – Other types of mining
13:14 – Frequently asked questions
15:20 – Conclusion
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