One Of The Secrets Of Bitcoin Mining

Blockchain specialist De Vries and the “PwC” authentication mechanism discovered that only about 2% of Bitcoin miners will discover the mass.

In a recent interview with the British news platform The Telegraph, De vries said that 98% of Bitcoin mining platforms are never involved in the process of verifying the validity of the transaction.

The remaining 2% represent where specialized computers compete to solve encryption problems to discover new blocks in the series.

When a block is discovered, the discoverers are gifted a total of 12.5 Bitcoins worth about 150,000$, making mining a profitable investment vehicle for people who have capital to buy mining equipment

However, those with somewhat weak equipment are more likely to discover a mass and win this bonus as well.

De Vries explained :

It is totally impossible for 98% of devices during their lifetime to make an account that already leads to a bonus.

It works without result for a few years, uses energy and produces heat.

The other side of bitcoin mining:

There are two sides to this story.

While a small number of bitcoin miners get the best result in mass extraction, the rest of the miners also continue to contribute to the network’s work.

The vast majority of bitcoin miners work as part of large mining networks known as mining groups.

It allows the two minerals to combine their mining power together to get a better chance and result to discover the next mass.

Once someone discovers the block, rewards are shared among everyone in their group

In other words, individuals involved in mining groups have a greater chance of getting a reward, and if they don’t find the mass, the odds remain for the rest of the group present.

From time to time, one of the lucky ones discovers the mass within their mining community, as the picture above shows.

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