Forex Zone | Forex Forum

Who can be a miner?

Discussion started on General Cryptocurrency Discussion

  • Posts: 121
  • Points: 0
  • Likes Received: 38
  • Reputation: +0/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
In principle, anyone can become a miner. Because decentralized networks do not have the authority to regulate who can become miners, that's why a cryptocurrency requires some kind of mechanism to prevent one particular party from monopolizing mining. Imagine if someone controlled millions of peers and spread fake transactions. The system will be damaged immediately.
So, Satoshi made a rule that miners must invest their computers in order to do mining. And they have to find hashes (products from cryptographic functions) that connect new blocks to existing blocks. This is called Proof-of-Work. In bitcoin the system is based on the SHA256 Hash Algorithm.


Linkback: https://www.forex.zone/general-cryptocurrency-discussion/32/who-can-be-a-miner/1541/
#1 - February 14, 2019, 07:17:33 AM

  • Who can be a miner? in General Cryptocurrency Discussion_Jon_Bon_Jovi
  • Posts: 30
  • Points: 0
  • Likes Received: 4
  • Reputation: +0/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
very amazing, if we have enough money we can become miners of digital currency, but because of the high cost of the devices that need to be fulfilled it is suitable for companies that want to open a bitcoin mine, if personal money is very much to spend.
#2 - February 14, 2019, 06:34:05 PM

  • Posts: 130
  • Points: 0
  • Likes Received: 49
  • Reputation: +1/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
I think everyone can be a miner because a lot of websites or telegram bots are either scam or legit.
#3 - February 14, 2019, 07:30:26 PM

  • Posts: 72
  • Points: 0
  • Likes Received: 10
  • Reputation: +1/-0
Who can be a miner? in General Cryptocurrency Discussion_xx

in my opinion everyone can mine depending on each other



#4 - February 15, 2019, 07:22:07 AM

  • Who can be a miner? in General Cryptocurrency Discussion_index
  • Posts: 133
  • Points: 0
  • Likes Received: 19
  • Reputation: +1/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
honestly I don't understand this, sir. what is meant by miner? is it a certain activity that can produce something from the action taken or must analyze before getting the results? can it be explained to me about this miner.
#5 - February 15, 2019, 01:07:05 PM

  • Who can be a miner? in General Cryptocurrency Discussion_index
  • Posts: 319
  • Points: 0
  • Likes Received: 49
  • Reputation: +1/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
honestly I don't understand this, sir. what is meant by miner? is it a certain activity that can produce something from the action taken or must analyze before getting the results? can it be explained to me about this miner.
according to my experience, bitcoin miner is a person who mines bitcoin by using bitcoin mining tools and some CPU components such as GPU and processors that are connected with BITCOIN network if you want to become a miner, you need a lot of capital such as mining tools, gpu and processor and also a large power consumption because it operates 24 hours nonstop,
#6 - February 18, 2019, 12:22:13 AM

  • Who can be a miner? in General Cryptocurrency Discussion_index
  • Posts: 268
  • Points: 0
  • Likes Received: 41
  • Reputation: +1/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
In principle, anyone can become a miner. Because decentralized networks do not have the authority to regulate who can become miners, that's why a cryptocurrency requires some kind of mechanism to prevent one particular party from monopolizing mining. Imagine if someone controlled millions of peers and spread fake transactions. The system will be damaged immediately.
So, Satoshi made a rule that miners must invest their computers in order to do mining. And they have to find hashes (products from cryptographic functions) that connect new blocks to existing blocks. This is called Proof-of-Work. In bitcoin the system is based on the SHA256 Hash Algorithm.
yes everybody can mine but nowadays persona n is hard to mining because the algorithm more hard to finish and they payout is not good like before. now, only some big company is mining bitcoin because if you do it personal and with 1 computer, well how long you want to mine until your VGA broken
#7 - February 21, 2019, 04:15:59 PM

  • Posts: 279
  • Points: 0
  • Likes Received: 79
  • Reputation: +1/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
the system applied by satosi with SHA256 The Hash algorithm is very good at preventing this.

Bitcoin mining in the past years has given good profit.
but for now, have you ever calculated the amount of costs incurred to mine bitcoin smaller than the bitcoin price.
is bitcoin mining now making a lot of profit?
#8 - February 22, 2019, 02:34:51 AM

  • Posts: 5
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
anyone can be the key miner that is we have to study or practice seriously so that we are experts then we do floating on forex
#9 - April 07, 2019, 12:16:51 PM

  • Posts: 4
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
anyone can become a miner as long as he becomes a Trader, provided he is serious about trading
#10 - April 09, 2019, 02:55:39 AM

  • Who can be a miner? in General Cryptocurrency Discussion_Emilio_Estevez
  • Posts: 9
  • Points: 0
  • Likes Received: 1
  • Reputation: +0/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
in the past the potential income of the bitcoin miner was very high, and anyone could do a miner.
now doing miner is not like before, the results are few and also the price of bitcoin is not in accordance with production costs.
#11 - May 09, 2019, 06:22:47 AM

  • Who can be a miner? in General Cryptocurrency Discussion_index
  • Posts: 58
  • Points: 1000
  • Likes Received: 9
  • Reputation: +26/-18
Who can be a miner? in General Cryptocurrency Discussion_xx
In principle, anyone can become a miner. Because decentralized networks do not have the authority to regulate who can become miners, that's why a cryptocurrency requires some kind of mechanism to prevent one particular party from monopolizing mining. Imagine if someone controlled millions of peers and spread fake transactions. The system will be damaged immediately.
So, Satoshi made a rule that miners must invest their computers in order to do mining. And they have to find hashes (products from cryptographic functions) that connect new blocks to existing blocks. This is called Proof-of-Work. In bitcoin the system is based on the SHA256 Hash Algorithm.
cryptocoin is indeed a unique algorithm especially bitcoin, its existence besides being limited also cannot be monopolized by one party even though without the authority that regulates the spread of bitcoin.
#12 - May 11, 2019, 09:46:21 PM

  • Posts: 10
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
everyone can do miner, as long as the origin of capital, willingness, skill. and the most important thing is to be consistent
#13 - May 12, 2019, 12:44:03 AM

  • Posts: 10
  • Points: 0
  • Likes Received: 0
  • Reputation: +0/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
absolutely true everyone can do good minning by having their own tools or with cloud mining.
#14 - May 13, 2019, 01:44:05 PM

  • Posts: 182
  • Points: 319
  • Likes Received: 5
  • Reputation: +0/-0
Who can be a miner? in General Cryptocurrency Discussion_xx
mining runs automatically so anyone can do it as long as there are tools and resources.
#15 - May 15, 2019, 11:31:11 AM

Members:

0 Members and 1 Guest are viewing this topic.


* Share Topic

Share via delicious Share via digg Share via facebook Share via linkedin Share via pinterest Share via reddit Share via stumble Share via tumblr Share via twitter