What is Bitcoin Mining? What is GPU mining?


Have you seen my article on bitcoins? If not then see that first because you will not understand anything without seeing that. Click here to see the article on bitcoins. Ok, did you see that article? Now, I am going to explain you what Bitcoin and GPU mining is. So let's start.


See, the people who do bitcoin mining are called bitcoin miners or simply miners. So, these bitcoin miners have very powerful GPUs. GPU stands for Graphics Processing Unit also known as graphics card. It is a part of a computer which processes graphics in a computer and can also be used to complete the transaction of bitcoins. Suppose, I want to send 11 bitcoins to  my friend. But i can't do that because i don't have powerful GPUs and neither my friend has. So how will i send him the 11 bitcoins? The transaction will done by a bitcoin miner sitting with powerful GPUs, he will send the bitcoins to my friend. But the miner will keep a bitcoin as his fees and will send the remaining to my friend. This is how bitcoin mining works.


Bitcoin miners actually provide their GPU processing power to the sender so that the sender can send bitcoins to the receiver and the bitcoin miner keeps a small amount of bitcoin as a fee. If you don't want to give the bitcoin miner small amount of bitcoin from the transaction then you can contact a bitcoin miner and even pay him with cash.


You know what, the main reason for the rise of the price of a GPU are the bitcoin miners only. To mine bitcoins they buy GPU in a very large quantity due to which there are less GPUs available in the market but the demand of GPU is high. And do you know the business formulae, if a product's quantity is low and demand is high then eventually the price of the product will be raised. This is the reason why GPU prices are high. So indirectly bitcoin miners are the main reason for the rise of the GPU prices


This was all about bitcoins and GPU mining. Hope you liked it.

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