What is Bitcoin Mining? (In Plain English)

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Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as the blockchain. Mining is done by running extremely powerful computers (known as ASICs) that race against 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).

Today, in order to be profitable with Bitcoin mining you need to invest heavily in equipment, cooling and storage. It’s not possible to mine profitably with a PC or a GPU at home. You can calculate your profitability using a Bitcoin mining calculator.

0:20 – Bitcoin mining in a nutshell
3:13 – Mining difficulty 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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About the Author: Cathy Parker


  1. CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers.
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  2. An excellent explanation of mining. However I have a question. If bitcoins are limited to, I believe 21,000,000 coins, what happens once all of those coins have been mined? Surely there will be no incentive for miners to keep going and thus the block chain falls apart.

  3. Here is my prediction please tell me why it won't happen; everyone knows there is not enough processing power to run the metaverse. In the future miners will not be processing solving the hash, but will be processing the metaverse (the way the mining locations are spread out globally and the need for local processing centers to run meta). The bitcoin and co. will no longer be just a store of nothing but they will represent processing power (when the miners are not processing meta they will be mining coin again).

  4. As a complete beginner, I am amazed that you've made this video available for free. You explain everything so well. but I'm still confused about why Bitcoin and crypto prices keep dropping. This drop follows several other significant drops in recent weeks. I still hold enormous value in cryptos and it scares me. What's your talk on this?

  5. This post is so valuable and so honest. I am very grateful for this content, I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market… can anyone help me out or at least advise me on what to do?

  6. Bitcoin is the way of the future and investing in it will be the smartest decision you can do , especially with its present price

  7. Me estafaron. 750 dólar son estafadores no entren en ninguna plata forma primero te pagan y en el otro te estafan me quedé sin moto sin dinero ni nada a leEr esto no hagan más esso no entren aca

  8. Here's a dark thought what if robots(computers) /AI found out how to make programs and they found things that work thryre trying to make them self smarter by making them guess a random number for a puzzle they give us money so we don't really think deep into it but they're definitely making themselves smarter


  10. MY Question is this.
    What is a Crypto currency miner actually doing that they should earn a profit from?

    – They are not providing a service to society.
    – They are not entertaining people.
    – They are not helping humanity in anyway.
    + They Are However Leaving a Large carbon footprint, So much more that they are harming Humanity significantly.
    + They Are Wasting precious metal resources (buying 4-6 GPUS for 1 Mining PC).

    ? What gives them the right to earn some sort of untaxable currency that they can purchase all sorts of legal and Illegal things with??

  11. In the end same as one money
    Pool taking a cut – like a bank
    Costs more to mine – costs more to open a bank

  12. Sorry for being thick but what the fuck are you actually doing. What are the mathematical problems being solved for, Cancer research, solving world hunger, understanding the universe, interstellar travel ? or is it a load of crap that some Asian invented to make money out of assholes and to piss off every PC gamer who can no longer afford to buy a decent GPU due to you cunts buying them all. What I am getting at is what the fuck is it all for. That's what everyone wants to know in plain fucking English.

  13. Okay not going to lie I was told this shit is somewhat easy.. THE FUCK IT AINT. bro I don't understand any of that. And hoenstly I'll just go and make my money the old way. And not burn out a PC for just solving equations. If I want to solve equations I use a calculator, I use a pickaxe and if I want money that I go out and work for it like a real f**** man

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