Maurice Moss Posted May 12, 2014 Share Posted May 12, 2014 (edited) Maldesto is a prick Edited July 5, 2014 by Maurice Moss Link to comment Share on other sites More sharing options...
DMT Posted May 14, 2014 Share Posted May 14, 2014 I'm no expert but here's my explanation.. When you mine you are helping verify transactions on the network. Basically every time you send a cryptocurrency it needs to be verified by a certain amount of miners before it goes through. Once you verify a certain amount of transactions (usually a huge amount) you will get a block, and in each block you get coins. New altcoins are unpredictable. They could gain value or just die off so deciding whether or not to mine is up to you. My best advice would be to research a lot before you start using resources. I'd also recommend mining in a pool because they find blocks much faster. You almost always get more when you mine in a pool as opposed to mining solo unless you have some crazy set up where it doesn't take forever to mine a block. 1 Link to comment Share on other sites More sharing options...
Maurice Moss Posted May 16, 2014 Author Share Posted May 16, 2014 I'm no expert but here's my explanation.. When you mine you are helping verify transactions on the network. Basically every time you send a cryptocurrency it needs to be verified by a certain amount of miners before it goes through. Once you verify a certain amount of transactions (usually a huge amount) you will get a block, and in each block you get coins. New altcoins are unpredictable. They could gain value or just die off so deciding whether or not to mine is up to you. My best advice would be to research a lot before you start using resources. I'd also recommend mining in a pool because they find blocks much faster. You almost always get more when you mine in a pool as opposed to mining solo unless you have some crazy set up where it doesn't take forever to mine a block. Thank you very much. This was very informative. I feel a lot better about mining now that i know exactly what i'm actually doing. Link to comment Share on other sites More sharing options...
