Wow! I've heard that this technology is very popular now, but I did not think it was that much! It turns out that it plays a huge role in the current
economic state of the world, I would like to know more about it, for example, what is the "Crypto-currency"? it
would be nice if you explained to me more about this
Sure! No problem with this! In fact, everything is quite simple, you can buy anything for crypto currency! You can buy in online stores that
use the technology "Buy for crypto", or simply exchange them for "fiat money" such as the dollar, euro, etc. But at the same time
the crypto currency is not affected by inflation and other influence of banks on the currency.
Oh! that's cool! And where does this crypto currency come from? How it can be earned? Is there a definite way, right?
Of course, there is definitely a designation for such people, "miners" it extracts this crypto currency. The process itself I'll try to explain as simply as possible, by pointing out the points, so let's focus on mining 'scrypt' coins, namely Litecoins, Dogecoins, or Feathercoins. The whole focus of mining is to accomplish three things:
1. Provide bookkeeping services to the coin network. Mining is essentially 24/7 computer accounting called 'verifying transactions'.
2. Get paid a small reward for your accounting services by receiving fractions of coins every couple of days.
3. Keep your personal costs down, including electricity and hardware