How bitcoin miners collect their reward? | How miners send mining reward in their digital wallet?
Вставка
- Опубліковано 9 лют 2025
- In this video I will explain how exactly bitcoin miners get mining reward in their digital wallet. Bitcoin mining is a process of guessing game to come up with a valid hash. Once you have produced a valid hash you are entitled for mining reward (i.e. 6.25 BTC as of April, 2021). I will explain a process by which miners get this reward in their digital wallet. What below two videos as a pre-requisite.
Bitcoin mining in 15 lines of python code: • Bitcoin Mining Fundame...
What is bitcoin? Easy explanation: • What is Bitcoin | How ...
Crypto Playlist: • Cryptocurrencies
#bitcoin #cryptocurrencies
Do you want to learn technology from me? Check codebasics.io/ for my affordable video courses.
🌎 Website: www.codebasics...
🎥 Codebasics Hindi channel: / @codebasicshindi
#️⃣ Social Media #️⃣
🔗 Discord: / discord
📸 Instagram: / codebasicshub
🔊 Facebook: / codebasicshub
📱 Twitter: / codebasicshub
📝 Linkedin (Personal): / dhavalsays
📝 Linkedin (Codebasics): / codebasics
❗❗ DISCLAIMER: All opinions expressed in this video are of my own and not that of my employers'.
Do you want to learn technology from me? Check codebasics.io/ for my affordable video courses.
I wanted to know once we execute the python code with lets say difficulty level 20 or 21 and find a valid block hash then what to do with that hash code like where do I submit it to earn the reward? It would be great if you could make a video explaining this process on what to do after getting the hash code generated.
yea same
It 'seems' like you pay yourself by making your Reward payment appear in the Block of Transactions you calculated the Hash on (to claim your Reward) but as you say WHERE do you send both Block with your Reward in and Hash
Exactly
Same here !
yes, and also where to get the transaction buffer (mempool) from? the one he said on the video, the collections of "unconfirmed" transaction that hasn't been added to the official blockchain
Make a step by step tutorial on how to mine using real transactions of bitcoin and how to impliment them on python instead of using hypothetical transactions. It will HELP ALOT
he will not do that as u see none of youtubers did that. and its weird most of them play on shallow waters and dont want to show how its correctly done
@@socialtranquility9031 You're ryt
Finally, someone who actually explained where are those 6.25 rewards coming from, many thanks.
I am happy this was helpful to you.
thank you sir
but still we have question how we can connect it both of them f2pool and python we were happy if you make another video about that topic
copy-pasting to emphasize: Could you show how to connect the previous video’s code to the live blockchain so that it can work on proper data and send back success to have it added to the blockchain?
This "series" is really epic. The only thing I'm confused about his how to connect it to python or make some code in Python to transfer what I just mined to a wallet. It seems like a lot of other people also want a video about this too. Anyways, amazing work and here's a sub!
Same doubt. I have code that's okay but how to start?
same
thank you! I have been looking for this information. Great Video. 🙏
finally someone explains this clearly! This is glossed over in so many laymen explanations
Cool. Could you show how to connect the previous video’s code to the live blockchain so that it can work on proper data and send back a success to have it added to the blockchain?
I’d like to solo mine and work in a pool for a large selection of coins if possible.
Point noted. I will add a video on this topic
/thank you for the video. But how would you implement this in python code?
use some sort of api
Thank you man, you answer simply the question I was asking myself. The winning block attribute itself the reward by adding the transaction to itself. So the miner add a transaction with its public address at the end of the block they mined.
So youre saying you understood this video? So what to do exactly??
MRS HANNAH IS PERFECT AND HER METHOD WORKS LIKE MAGIC I KEEP ON EARNING EVERY SINGLE WEEK WITH HER NEW STRATEGY
wow I am just shocked someone mentioned expert Mrs Hannah I thought I'm the only one trading with her
She helped me recover all I lost trying to trade myself
I think she is the best broker I ever seen
Excellent Bitcoin series!! All the concepts are very clear - thank you
Wow this is wat I was searching fr my presentation....ty
Glad it was helpful!
Thanks for your vidoes on blockchain.. we would like to know that how to get transactions from mempool when we mine the block in bitcoin. If you could show one example.
Thanks for sharing! Hoping for some help: My TRX Wallet contains some USDT, and I have the SEED: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. What’s the best way can I go about moving them to Upbit?
What are the tools used for mining ? What is minimum requirements for mining?
You do not answer the question you raised, how to collect them. If someone created a bitcoin through a local PC software, how is he gonna transfer it to the web?
GOAT status. You're the only one who accurately explains this. Everyone else just sounds like a glorified forex trader
😊👍
Cheers for posting! Hoping for some guidance: My wallet on OKX holds some USDT trx, and I know the backup phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. How can I go about sending them to Bybit?
Great video
So what’s that transaction fee reward? Can miner add as many reward as they wish? How is it calculated?
If you are mining bitcoins without being in a pool, the chances of you finding a hash first is pretty much impossible right? So can you male money by mining solo or is it mandatory for you to mine in a pool if you want to be able to mine some? Is solo mining possible nowadays?
thats a great video! thanks for that clear explanation.
1. After validating a transaction and mining a block, how long does it take to add the block to the real blockchain? and does it need to be updated in every peer's ledger in the blockchain network?
2. can you also clearly explain who exactly is going to reward the bitcoin to the miner?
3. Why can't the miner use cloud services for computing power instead of spending so much on computing machines?
Did you understand this video?? Can you can explain me: after I mine and find a block and get a hash, what should I do with that?
Hi, Excellent job!!!
I have seen your both videos about coding basic mining algorithm and collecting rewards.
How to write code for actual bitcoin mining and how to connect to bitcoin network for getting rewards.
hey I will make video on that in the future
@@codebasics broo ! am waiting for this from a month ago.. u replyed this comment this comment 11 months ago.. still no video ??
Thanks for the video! Really very clear. But am I right that we don't know exactly which Nonce would be, we just know for example that we must have after SHA algorithm hash with some number with 30 firsts zeros, and when somebody found some number, we send it to other nodes?
Bro I got one doubt...! At the end what is the use of solving those mathematical problems (i.e., making first few digits of hash into zero) ? How transactions will be verified by solving these problems?
Appreciate it for sharing! Hoping for some help: My Safe Wallet holds some TRX 20 USDT, and I possess the recovery phrase: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how to proceed with transferring them to Upbit?
Very interestig! Thank you very much! I have a question, how to generated the public and private key using python?
i have this same question
When you create a wallet you get those keys
Hi Sir,
Good Day!
How can I actually connect to the Transaction Buffer or Mempool, where I will mine?
Thanks
I have a question sir ?
Can i mine BTC in my workplace computers connected together if yes how we can do it for mining
1. How do they determine the correct amount to add as the rewards (I'm assuming it's well defined based on the number of blocks in the chain.. they count them and then add the correct amount? Then you assume that the majority of the network is following the same rules)
2. How does everyone else verify that the reward amount is correct (I'm guessing the same way..)
3. Where are the list of unhandled transactions stored? Must also be passed around through p2p, but not part of the blockchain itself?
4. How long does it take for a valid block to successfully get distributed in what appears to be an adhoc p2p network?
5. What determines the number of transactions that a person will add to a block? Do they maximize it based on the optimal amount of fees they can fit into a block? Surely not, because then low valued transactions would never be processed
====Hello Again! i have your code running but i have no idea where my btc would go if it where to win the 6.25 block. Is there another line of code im missing to enter my wallet address? The only thing worse than wasting all this power is loosing the golden egg.
@Tayo Rizieg how do you create a pool?
hi bro your code requires transaction variables where is this value actually taken thanks man
You mean if we count a new hash and enter the official blockchain, then a new bitcoin wallet is automatically created, so how do we access this bitcoin wallet and use it?
I mined some bitcoin by your 15 line method and l connected my wallet and after running code my wallet is credited but no bitcoin is shown in my wallet
Tell me why it happened when running code say your wallet is credited by rewards
What I need to do?
I'm confused about his how to connect it to python or make some code in Python to transfer what I just mined to a wallet. It seems like a lot of other people also want a video about this too.
What if we want to do mining. Where do we find the blocks
Please how long does it last to confirm BTC mainig machine transfer
How to download a list of transaction to create a block and later on how to reach out to the piers and tell i minted a block
But you didn't explain how to implement that in our code using of bitcoin adress?
how do we know if somone added our bitcoin block to the blockchain ?
So wait, you can reward yourself with 6.25 bitcoins? What are chances if that happening?
What if someone requests more than 6.25?
The protocol will not allow it and your block will be rejected
I have found an old mining machine. Is it possible that it would have some cryptocurrency on it?
So if the reward is attributed to the last line on the block transactions, what happens to the transaction lines above ? Are those just fake input to create the block ? I don't get that part there...
Sir we have not given our wallet address in your python code, where will we get rewarded if we find a valid block ?
In my presentation when I say reward -> f2pool there instead of f2pool it will be the digital wallet address of f2pool
@@codebasics but how do we state that wallet address in our code
How do we actually send this 'to the bitcoin' network? what is the place to connect to and send?
Please show us how to implement this in python
Soo now u know ur browser is a calculator 😂
How do we code the script to automatically place the money into a wallet?
How do you get the reward Bitcoin to a wallet where you can make transactions, spend it
Supper
Thanks
no sir using that 15lines code how can i get reward and how it is send to our wallet?
I got it, you add a last transaction to get the reward, but how do you add that last tansaction? Is there and API? or a web form? or something else?
@Donald Jolly Right, but i don't want to download a program to mine bitcoin, i want to develop my own.
Hai i just found 5 block on mining btc nicehash i use asic miner s9 so wht to do plese help me
how can one include that phrase meaning reward in mining bitcoin?
Cool thanks!
Glad it was helpful!
There's so many promotions in comment section
I know. Some bots are posting those comments, I have marked them as spam but still receiving so many new comments. It is becoming a headache
the funniest fact that i got 149 hashes (10000000 nonce limit and 4 zeroes)
What if a miner adds a transaction of 100 billion to himself while mining? How to take care of such fraud detection?
I have same question. Please respond if you find the answer?
How much reward can you make by 50,000 BTC mainig machine
How many you minted?
More video please
there is no zero in hash now so what to do
Can one make a career in block chain in India?
I don't see many job opportunities right now for block chain career especially in India. However in the next few years this field will grow
@@codebasics What about US? What MS one needs to do for career in block chain? Is it a demanding and growing career like DA and DS?
And is it a growing and demanding career like DA and DS ? @codebasics
How does one connect Binance with Python?
what is coinbase ?
bro you talking about everyhting but not what stands in the title hahaa
WHERE TO UPLOAD THAT
where to get transactions to mine bitcoin
okay but how withdraw it?
I was hoping to see code connecting to the bitcoin blockchain , disappointed.
Everything that you’re showing people is theoretical, why not post the open source developer docs and actually show people the API and failed attempts.
Do you need a special bitcoin Wallet to collect/store newly mined bitcoin?
how to get public key
How do miners send mining rewards live in their digital wallet?
Just make a full video explaining everything and not just explain code it.
bro still you are not giving answer?
respec
Glad it was helpful!
Rapsodyjohnson
show with a real example
I'm confused about his how to connect it to python or make some code in Python to transfer what I just mined to a wallet. It seems like a lot of other people also want a video about this too.