Bitcoin Mining Legit 2018: A Comprehensive Guide

　　In 2018, the world of cryptocurrency experienced a significant shift, with Bitcoin mining becoming a legitimate and profitable venture for many individuals and organizations. As the demand for Bitcoin and other cryptocurrencies surged, so did the interest in Bitcoin mining. This article aims to provide a comprehensive guide on Bitcoin mining in 2018, covering its legitimacy, the process, and the factors that contributed to its growth.

　　Bitcoin Mining Legit 2018: What Does It Mean?

　　When we say "Bitcoin mining legit 2018," we mean that Bitcoin mining was recognized as a legitimate and legal activity during that year. It was no longer a niche hobby for tech-savvy individuals but had gained mainstream attention as a viable way to earn cryptocurrency.

　　The Legitimacy of Bitcoin Mining

　　The legitimacy of Bitcoin mining in 2018 can be attributed to several factors:

　　1. Legal Recognition: Governments and regulatory bodies around the world began to recognize Bitcoin mining as a legitimate business activity. This recognition provided a legal framework for miners to operate without fear of legal repercussions.

　　2. Technological Advancements: The development of more efficient mining hardware and software made Bitcoin mining more accessible and profitable for individuals. This, in turn, contributed to the growth of the mining community.

　　3. Market Demand: The increasing demand for Bitcoin and other cryptocurrencies led to higher prices, making mining more profitable. This attracted more individuals and organizations to the mining space.

　　The Process of Bitcoin Mining

　　Bitcoin mining involves solving complex mathematical problems to validate transactions on the blockchain. Here's a simplified overview of the process:

　　1. Setting Up a Mining Rig: To mine Bitcoin, you need a mining rig, which consists of specialized hardware, such as ASIC (Application-Specific Integrated Circuit) miners, GPUs (Graphics Processing Units), and other components.

　　2. Joining a Mining Pool: Mining solo can be challenging, as the chances of solving a block and earning Bitcoin are slim. Joining a mining pool increases your chances of earning rewards. A mining pool is a group of miners who work together to solve blocks and share the rewards proportionally based on their contribution.

　　3. Running the Mining Software: Once you have a mining rig and joined a mining pool, you need to install mining software that connects your rig to the pool. The software will run the mining algorithm and report your progress to the pool.

　　4. Earning Bitcoin: When your rig solves a block, you'll earn a portion of the block reward, which is a fixed amount of Bitcoin. The reward is then distributed to you and other members of the mining pool.

　　Factors Contributing to the Growth of Bitcoin Mining in 2018

　　Several factors contributed to the growth of Bitcoin mining in 2018:

　　1. Increased Bitcoin Price: The rising value of Bitcoin made mining more profitable, attracting more individuals and organizations to the space.

　　2. Technological Advancements: The development of more efficient mining hardware and software made it easier for individuals to enter the mining market.

　　3. Growing Interest in Cryptocurrency: The increasing interest in cryptocurrencies and blockchain technology led to a surge in demand for Bitcoin and other digital assets.

　　4. Legal Recognition: The recognition of Bitcoin mining as a legitimate activity by governments and regulatory bodies provided a stable environment for miners to operate.

　　In conclusion, Bitcoin mining was indeed legitimate in 2018, and it played a crucial role in the growth of the cryptocurrency market. As the world continues to embrace digital currencies, Bitcoin mining remains a viable and profitable venture for many.

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