This activity is called to be bitcoin mining. Pool fees : If youre mining through a mining pool (you should then the pool will take a certain percentage of your earnings for rendering their service. In the long run, this will even out to ten minutes on average. This is only an average timeframe that is set as a target for miners. Why on earth did Satoshi do this?
How long to mine a bitcoin
Wallet for bitcoin cash
Furthermore, it will never be very unprofitable power-cost wise. Three questions I get asked a lot: Isnt mining a waste of electricity? In a sense, this was done to keep inflation in check. By the way, the actual block time is not determined it often takes less than 10 minutes to mine a single block. Heres what well go over: What is Bitcoin mining and how does it work? Mining is done by running extremely powerful computers (known as asics) that race against other miners in an attempt to guess a specific number. Mining on a mobile phone Some mobile apps claim to mine Bitcoin on your phone. How stable is the pool? Those are not totally right. For more information about web mining, you can read this post.