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72 sats \ 4 replies \ @siggy47 2 Jul 2023 \ on: How does bitcoin mining work? bitcoin
I think you need to learn the difference between the base layer bitcoin network and the lightning network. You can take a course and earn some free sats too:
https://mailchi.mp/b4a28e31041a/qd6tc53wb4
Hey thanks for the link, I just signed up for the free course. I do understand that Lightning works on micro transactions and uses little energy, while mining a bitcoin needs a lot of energy to do so, and some bitcoin blocks in the layer-1 are huge and could take years to complete. That much I get, but I’m really interested in how to get started and how to mine, and if it’s possible to mine portions of coins or do you have to mine an entire coin to “claim your prize”. Some blocks are worth 6 btc while others are more and worth less. Is it possible to mine fractions of btc as well or will it always be multiples of 1?
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I am by no means a mining expert, but, trust me when I suggest you learn the basics of bitcoin before jumping into mining. There is a LOT to learn. I think you are off to a good start earning a few sats here on SN. Next you should listen to some podcasts like @kr 's on the fountain app, where you can also earn sats, and then decide if you want to get into mining.
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How do you feel about NiceHash? I noticed something at the latest bitcoin conference in Nashville and was looking into joining their sharepool, I have been stacking sats on fountain for a while now. After listening and earning, I am definitely interested in the mining as well. Thank you for the sharepool ideas below as well!
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You can join a mining pool so you don't have to mine an entire block yourself.
But looking at your questions, I agree with @siggy47. You need to do some more basic research yourself first.
Additionally to what @siggy47 suggested, you can take a look at https://en.bitcoin.it/wiki/Mining for some quick information about how mining works.
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