Mining: Paano Nabubuo ang Bitcoin?

Alam mo ba na ang Bitcoin ay hindi ginagawa ng bangko o gobyerno? Instead, "nami-mine" ito ng thousands of computers worldwide - ...

Alam mo ba na ang Bitcoin ay hindi ginagawa ng bangko o gobyerno? Instead, "nami-mine" ito ng thousands of computers worldwide - parang digital na gold mining! Pero instead of pala at piko, ginagamit ay super powerful computers at kuryente.

Sa article na ito, ipapaliwanag natin in simple terms kung paano exactly nabubuo ang Bitcoin through mining. Promise, hindi mo kailangan maging computer genius para maintindihan!

Mining in Simple Terms: Ang Lottery ng Bitcoin

Imagine mo ang Bitcoin mining as giant lottery na ganito:

1. May math puzzle na sobrang hirap
2. Thousands of computers nag-aagawan kung sino makaka-solve
3. Ang winner receives newly created Bitcoin as prize
4. Every 10 minutes, may bagong puzzle at bagong winner

That's mining in a nutshell! Pero syempre, may deeper purpose yan...

The Real Job of Bitcoin Miners

Hindi lang basta puzzle-solving ang ginagawa ng miners. They're actually the security guards and accountants ng Bitcoin network!

Miners Have 3 Main Jobs:

1. Verify Transactions
Check kung legit ang Bitcoin transactions. May enough balance ba si sender? Hindi ba double-spend?

2. Secure the Network
Protect against hackers and fraudsters. The more miners, the more secure!

3. Create New Bitcoins
Release new Bitcoin into circulation. Controlled supply - not random printing like fiat!

Step-by-Step: How Mining Actually Works

Step 1: Transactions Broadcast

Juan sends 0.1 Bitcoin to Maria. This transaction broadcasts to entire network - parang group chat announcement!

Step 2: Miners Collect Transactions

Miners gather pending transactions into a "block" - imagine shoebox full of receipts. Usually 2,000-3,000 transactions per block.

Step 3: The Mining Competition Begins

Here's where it gets interesting! Miners must find a special number called "nonce" that when combined with block data creates a hash starting with specific number of zeros.

Example of target hash:
00000000000000000004f67892...

Notice the 19 zeros? That's the difficulty! More zeros = harder to find.

Step 4: Brute Force Guessing

Miners try billions of number combinations per second:

• Try nonce 1: Hash = 7a9f3b2c... ❌ (no zeros)
• Try nonce 2: Hash = 5d4e8a1f... ❌ (no zeros)
• Try nonce 84,739,291,048: Hash = 00000000000000000004f67892... ✅ (Winner!)

It's pure trial and error - walang shortcut!

Step 5: Winner Announcement

Winning miner broadcasts solution. Other miners verify (takes milliseconds). If correct, new block added to blockchain!

Step 6: Reward Distribution

Winner receives:

• Block reward: Currently 6.25 BTC (₱12.5 million!)
• Transaction fees: All fees from transactions in block

The Evolution of Bitcoin Mining

2009-2010: CPU Mining Era

Device: Regular laptop or desktop
Power: 10-50 MH/s (million hashes/second)
Daily earnings: 50 BTC (pero worthless pa noon)
Electricity cost: Minimal

Literally pwede mo i-mine Bitcoin habang nag-Facebook!

2010-2013: GPU Mining Era

Device: Gaming graphics cards
Power: 100-800 MH/s
Investment: ₱20,000-50,000
Competition: Getting serious

Gamers discovered graphics cards mine faster than CPUs!

2013-2016: ASIC Revolution

Device: Application-Specific Integrated Circuits
Power: 1-14 TH/s (trillion hashes/second)
Investment: ₱100,000-500,000
Result: Home mining becoming difficult

Special chips designed only for Bitcoin mining - nothing else!

2016-Present: Industrial Scale

Setup: Warehouse with thousands of ASICs
Power: 100+ PH/s (petahashes/second)
Investment: ₱100 million+
Location: Near cheap electricity sources

Mining became big business - like real mining companies!

Mining Hardware: The Tools of Digital Gold Miners

Current Popular Mining Machines:

Antminer S19 Pro

• Power: 110 TH/s
• Consumption: 3,250 watts
• Price: ₱500,000-700,000
• Daily earnings: ₱2,000-3,000 (before electricity)

WhatsMiner M30S++

• Power: 112 TH/s
• Consumption: 3,472 watts
• Price: ₱550,000-750,000
• Slightly more efficient

AvalonMiner 1246

• Power: 90 TH/s
• Consumption: 3,420 watts
• Price: ₱400,000-600,000
• Good for beginners

The Economics of Mining: Profit or Loss?

Mining Calculator Example (Philippines):

Investment:

• Antminer S19 Pro: ₱600,000
• Setup costs: ₱50,000
• Total: ₱650,000

Monthly Operations:

• Electricity (₱9/kWh): ₱21,000
• Internet/Maintenance: ₱5,000
• Total expenses: ₱26,000

Monthly Revenue:

• Bitcoin mined: 0.018 BTC
• Value (₱2.5M/BTC): ₱45,000
• Net profit: ₱19,000

ROI: 34 months (almost 3 years!)

Note: This assumes Bitcoin price stable, difficulty stable - both change constantly!

Why Mining Difficulty Keeps Increasing

Bitcoin has clever self-adjusting mechanism:

The 10-Minute Rule

Bitcoin designed to produce new block every 10 minutes average. But what if more miners join?

• More miners = blocks found faster
• Every 2,016 blocks (2 weeks), system checks
• If average less than 10 minutes, difficulty increases
• If average more than 10 minutes, difficulty decreases

Difficulty Growth Over Time:

• 2009: Difficulty 1 (mine on laptop!)
• 2013: Difficulty 100 million
• 2018: Difficulty 5 trillion
• 2024: Difficulty 75 trillion

Today, your laptop would take 5 million years to mine one block!

The Halving: Bitcoin's Supply Schedule

Every 210,000 blocks (roughly 4 years), mining reward cuts in half:

Bitcoin Halving Timeline:

• 2009-2012: 50 BTC per block
• 2012-2016: 25 BTC per block
• 2016-2020: 12.5 BTC per block
• 2020-2024: 6.25 BTC per block
• 2024-2028: 3.125 BTC per block
• 2140: 0 BTC (transaction fees only)

This ensures Bitcoin stays scarce - unlike peso na pwedeng i-print anytime!

Environmental Impact: The Elephant in the Room

The Numbers:

• Bitcoin network uses 150 TWh yearly
• Same as entire Argentina
• More than Google, Facebook, Apple combined
• 0.5% of global electricity

The Counter-Arguments:

• Banking system uses more: 260 TWh yearly
• Gold mining worse: Environmental destruction permanent
• Renewable trend: 60% Bitcoin mining uses renewable energy
• Stranded energy: Uses electricity that would be wasted

Mining Pools: Teamwork Makes the Dream Work

Solo mining today is like lottery - almost impossible to win. Solution? Mining pools!

How Pools Work:

1. Thousands of miners combine computing power
2. Higher chance of finding blocks
3. Rewards split based on contribution
4. Steady income instead of lottery

Major Mining Pools:

• Foundry USA: 27% of network
• AntPool: 25% of network
• F2Pool: 15% of network
• Binance Pool: 10% of network

Cloud Mining: Too Good to Be True?

See ads for "cloud mining" - rent mining power online? BE CAREFUL!

Legitimate Cloud Mining:

• Genesis Mining (expensive)
• Bitdeer (Bitmain subsidiary)
• Few others

Red Flags of Scams:

• Guaranteed daily returns
• Referral bonuses
• No proof of actual miners
• Withdrawal restrictions

Most "cloud mining" sites are Ponzi schemes! If profitable, bakit nila ire-rent sa'yo?

Can You Still Mine Bitcoin in the Philippines?

The Challenges:

• Expensive electricity: ₱9-12/kWh (need ₱3-4/kWh to profit)
• Hot climate: Extra cooling costs
• Import taxes: Mining hardware expensive
• Competition: Fighting against industrial farms

Alternative Options:

1. Mine Other Cryptocurrencies
Ethereum Classic, Ravencoin, etc. Less competition, but less valuable.

2. Buy Bitcoin Instead
Use money for hardware to buy Bitcoin directly. Often more profitable!

3. Trade Bitcoin
Instead of mining, try trading. Platforms like Exness offer Bitcoin trading with up to 80% rebates - exclusive through Pipsconomy! No hardware needed, just skills.

The Future of Bitcoin Mining

Trends to Watch:

1. Green Mining
Move to 100% renewable energy. El Salvador uses volcano power!

2. Mining Heating
Use waste heat for buildings. Mining that pays for itself!

3. Stranded Energy
Mine where electricity is wasted (remote hydro, flare gas)

4. Space Mining?
Some propose solar-powered mining satellites. Sci-fi today, reality tomorrow?

Mining Myths Busted

Myth 1: "Mining is Just Wasting Electricity"

Truth: Mining secures $1 trillion network. Like saying bank security guards "waste time standing."

Myth 2: "Quantum Computers Will Break Mining"

Truth: Bitcoin can upgrade algorithms. Plus, quantum computers still decades away from threat.

Myth 3: "When All Bitcoin Mined, Network Dies"

Truth: Transaction fees will incentivize miners. Already $50 million daily in fees!

Myth 4: "Only China Controls Mining"

Truth: China banned mining 2021. Now distributed: USA (35%), Kazakhstan (18%), Russia (11%)

Fun Mining Facts

• First Bitcoin mined on CPU worth ₱5,000
• Someone threw away hard drive with 7,500 Bitcoin (₱15 billion!)
• Mining one Bitcoin transaction uses same electricity as US house for 2 weeks
• Iceland so many miners, used more electricity than homes
• Some miners moved to oil rigs for cheap power

Should You Start Mining?

Mining Makes Sense If:

• Electricity below ₱4/kWh
• Cold climate (free cooling)
• ₱1 million+ capital
• Technical knowledge
• Long-term believer

Skip Mining If:

• Expensive electricity
• Limited capital
• Want quick profits
• No technical skills
• Can't handle volatility

The Bottom Line

Bitcoin mining is the backbone of the entire cryptocurrency revolution. It's how new Bitcoins are born, transactions verified, and network secured. From humble laptop mining to industrial-scale operations, it's evolved into serious business.

For most Filipinos, mining Bitcoin profitably is challenging due to high electricity costs. But understanding mining helps you appreciate Bitcoin's security and scarcity. Knowledge is power!

Instead of mining, consider trading Bitcoin on regulated platforms. Join Exness today and receive up to 80% rebates exclusively from Pipsconomy. Let others do the mining while you focus on trading!

Quick Mining Summary

• Purpose: Verify transactions, secure network, create new Bitcoin
• Process: Solve mathematical puzzles through trial and error
• Reward: Currently 6.25 BTC + transaction fees per block
• Difficulty: Adjusts every 2 weeks to maintain 10-minute blocks
• Investment: ₱500,000+ for competitive hardware
• Electricity: Need cheap power to profit
• Future: Moving toward renewable energy and efficiency

Remember: Mining is just one way to get Bitcoin. For most people, buying and holding or trading makes more sense than mining. Always DYOR!