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Thread: Blockchain. All about this and miners

  1. #11
    Quote Originally Posted by Silhouette View Post
    Nice article you've got in here sir, well done. Talking about blockchain and how mining process running, I think you're explaining how miners make their coins mined through hardware mining and those devices surely has expensive price. Normally people who wants to be bitcoin miners, they're willing to spend about 5k USD to 10k only to buy all necessary mining tools for them. At second thought I think why would people want to do that only to get bitcoin? I would agree to them when bitcoin has 18k value but now it's really low, not even half of 18k now right?
    Here is the case when we compare between people who want to invest their money for cryptocurrency and forex market. Normally people think that cryptocurrency is more interesting to do not only by its high and significant increase but also we can invest our money safely by purchasing the coins and keep them inside our wallet/ blockchain account. This is easy to understand even for people who has not ever know this kind of business.

    After that, since last time in 2017 bitcoin reached its peak and started to go down in 2018 lower and lower again, people are trying to find some other options with cryptocurrency and then they decide to invest maybe with Ethereum, Dash, Litecoin, and many more. If Bitcoin price now is already high then we can take the option to invest with additional coins which I have mentioned before. Once again to clarify your question, people are interested more with cryptocurrency market because they have seen it by themselves the huge increase from Bitcoin. Whenever people has the proof about something, they will start believing in it.

  2. #12
    Trader Senorita's Avatar
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    Understanding block chain will help us realize its the best place to store our cryptocurrencies. I use block chain to save my Bitcoin and they the best wallet I have come across. The block chain wallet are reliable and the normal miner fees are affordable too. It's also safe as we can activate a two tier verification procedure to avoid hackers to have access to our coins and this is good. My Bitcoin, Bitcoin cash, are all sorted up in the block chain network and this goes well for me.

  3. #13
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    I thought that we keep our purchased coins inside our account or something but there's a service of wallet called Blockchain which is secured and trusted to use. Since I am new to this kind of investment I'm curious to learn more about it and this thread provide me enough information to give me knowledge how to keep my coins safe with standard fees.

  4. #14
    Ethereum had made headlines earlier this year when they expressed their desire to switch to the Proof-of-Stake consensus algorithm. Without ban, it has been reported that some mining companies are betting against this movement.

    Several mining companies have invested millions in the creation of specialized mining chips for ethereum, machinery that will only work as long as the network pays a new cryptocurrency to those who dedicate computer equipment to the effort.

    One such company is Linzhi, who is currently developing a new Ethereum ASIC that promises to be more efficient and powerful than any front chip. Linzhi CEO Chen Min is not too concerned with Ethereum's switching algorithms, in fact he seems to think it's a bad idea.

    The ASIC of Linzhi guarantees the revision of the previous designs of ethereum ASIC, highlighting the high improvements in energy efficiency and computing power. But, the mining chip will only work in ethereum if the blockchain maintains its actual code base.

  5. #15
    cryptocurrency mining is a power hunger process, with the current high price Cryptocurrency are trading at, it is very profitably if you are in a country with easy and cheap access to reliable electricity, if you could invest in the mining hardware and some cooling systems, you could make a nice return off your investment in passive income,

  6. #16
    Crypto currency trading can be difficult for a trader if he has lack of education regarding this newer form of investment. Bit-coin, Etherum, Ripple, Lite-coin, Zcash, etc. are various highly potential investable crypto currencies where a trader can make investment with an objective of earning greater profit. On the other hand, in the last few months, crypto currencies have experienced decrease in values. So traders should give attention to on acquiring knowledge first.

  7. #17
    Trader nsawork's Avatar
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    Quote Originally Posted by musiliu View Post
    cryptocurrency mining is a power hunger process, with the current high price Cryptocurrency are trading at, it is very profitably if you are in a country with easy and cheap access to reliable electricity, if you could invest in the mining hardware and some cooling systems, you could make a nice return off your investment in passive income,
    I have had the experience of mining cryptocurrencies in the year of 2018. I made investment in the cryptocurrency mining Rig of ethereum.

    I purchased high end graphics cards motherboard CPU Ram and LAN connection cables. I made significant amount of investment in setting up the mining operation in separate air conditioned room with air intake and exhaust so that the temperatures can be controlled.

    I had set up a remote monitoring using the simplemining operating system.

    There was a time that when I was making good amount of profits from Ethereum mining. But after August 2018 the market crashed and my mining operations stopped.

    Today my mining operations are closed and I expect around 6 months of more downtime for ethereum mining.

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