Cryptocurrency mining is a process by which new coins are created. Miners are rewarded with cryptocurrency for verifying and committing transactions to the blockchain public ledger.
In the early days of Bitcoin, mining was performed by individual computers running the Bitcoin network software. As the network grew, miners began pooling their resources, sharing their processing power over the network in order to increase their chances of creating new blocks and receiving rewards.
Today, cryptocurrency mining is performed by high-powered computers that are designed for this purpose. Ethereum, one of the most popular cryptocurrencies, uses a Proof-of-Work algorithm that requires miners to perform complex calculations in order to create new blocks.
The GTX 1060 is a popular graphics card for gamers. It is also a popular choice for cryptocurrency miners, as it offers good performance at a reasonable price.
However, whether or not the GTX 1060 is a good choice for mining Bitcoin depends on a number of factors. The most important factor is the price of electricity.
In countries where electricity is expensive, the GTX 1060 will not be as profitable for mining as it would be in countries with cheaper electricity.
Another important factor is the price of Bitcoin itself. If the price of Bitcoin goes down, miners will be less likely to continue mining, as they will be operating at a loss.
The GTX 1060 is a good choice for Bitcoin mining if you have access to cheap electricity and if the price of Bitcoin is high. However, if either of these factors changes, it may no longer be a profitable option.