CRYPTO MINING

By Wolf2015 | My Crypto Info | 30 Apr 2021


Why Mining is important in cryptocurrency

 

Mining is truly the backbone of Bitcoin and a majority of cryptocurrencies. The main underlining reasons is that mining verifies all transactions on a specific coins blockchain. Without the miners there would be no new blocks to verify the transactions. This is proof of work. This is why some coins fail due to the fact there are not enough miners and the transactions can fall off the blockchain never being verified.

 

Bitcoin has a solid mining foundation, as well as many others despite people who truly do not understand cryptocurrency. The Blockchain is the basic technology behind it.

 

CPU and GPU mining

 

Like all of us miners you need to ensure you have a computer that is more than 3 threads to mine and Intel 3 to an Intel 7 are reasonable for this process. Remember the miner is your employee if the equipment is unable to meet the task, just like any other employer you need to replace that equipment and put in place equipment that are able to perform.

 

There are many times on the multi algo pools that I must consider replacing the computers that are cpu mining. Just as I must replace the actual ASIC miners, and or power supplies. This is not like a 9-5 job. You need to have constant vigilance to ensure your equipment is mining properly, not over heating, and producing a good amount. Remember Bitcoin is over $50,000.00 for 1 coin. Stop being greedy and ungrateful and look at this like any other job.

 

I will cover More on CPU and GPU mining strategies later but it is important to understand the actual Blockchain. This is the technology that is at the very heart of any cryptocurrency.

 

BLOCKCHAIN

 

Conclusion

 

Remember you need not listen to others. You must research pools and figure out if the difficulty meets what your equipment is capable of mining in order to produce the revenue to upgrade your equipment. Think of this as a great strategy game with real world results

How do you rate this article?


4

0

Wolf2015
Wolf2015

Author, Veteran, Journalist, Investigator, Patriot. Determined to staying Curious as My teacher, who passed, always told me to do. Believe no one, Listen to everyone, but only trust what you yourself can verify with your own research. Never believe anyone


My Crypto Info
My Crypto Info

Education of cryptocurrency from a person who actually lives off of mining and how to understand the many ways you can earn. Must research all for yourself, because results can vary depending on your miner and internet connection

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.