Topic: Are you into crypto, for the mining money or the idea behind it? (Read 454 times)
I am in it for the money but also because I believe it as an idea
Hello, I'm a noob.. but I have done loads of research.. And some mining.. and buying etc.
My main interest in crypto-currency is the decentralized nature of it. Putting the control of it into peoples hands. Initially I got involved by buying some bitcoin, Just as a hedge on the idea that if inflation sets in it may over come its effects.. I also own physical metals for this reason also.
As to the tech side, of it I'm a early adopter and have many decades in IT and related tech fields so the tech behind mining etc interests me also.
I do mine a few different coin, helping the networks and also supporting what I think are the best ideas in the crypto currency realm. I have to say I have been fairly impressed with bitcoins advancement, and that will open the door for new currencies as time goes on... and competition is a good thing for the people using it.
The two big issues I see as a need for a great crypto currency, is speeds of conformations that are nearly as fast as credit cards.. lets say, under 60 seconds. And they have to be user friendly.. Sure the miners and devs may be tech savvy but generally people are not and they don't want to mess with anything to make it work. These two factors is what will make or break a crypto currency in the area of general population acceptance..
Now as to us miners.. I enjoy helping the network with my hashing power (all be is small) and the little bit of rewards given back make it worth supporting these non bank/government controlled currencies.
Now from a aspect of why people mine? Are you doing it to support the currencies or to make money.. I know some of us are in it for both reasons, but what side do you lean.. mining for cash, or mining for the ideas behind crypto currency?
I see it as, I vote with my dollars , and in this case I vote with my hashing power, I put it behind the currencies I see with potential too compete with the big banking system.. Because the human race would be far better off without banks and government controlling the value and flow of our currency. There is no reason for them to control it , we have the technology to do it ourselves and that is what is so great about all the crypto currency.. We can, and are making a "free currency" that no one controls except the users of it.
What I currently support are Bitcoin (it is like a bank wire transfer slow and steadfast) , Digitalcoin (because of the name (well named for the masses) and fairly decent confirm times), and Fastcoin (because of the confirm times and it is also usable from a user and miner aspect, its a balance between the two needs)
So what are your thoughts on crypto, and why do you do it, and what do you support with your efforts?
My main interest in crypto-currency is the decentralized nature of it. Putting the control of it into peoples hands. Initially I got involved by buying some bitcoin, Just as a hedge on the idea that if inflation sets in it may over come its effects.. I also own physical metals for this reason also.
As to the tech side, of it I'm a early adopter and have many decades in IT and related tech fields so the tech behind mining etc interests me also.
I do mine a few different coin, helping the networks and also supporting what I think are the best ideas in the crypto currency realm. I have to say I have been fairly impressed with bitcoins advancement, and that will open the door for new currencies as time goes on... and competition is a good thing for the people using it.
The two big issues I see as a need for a great crypto currency, is speeds of conformations that are nearly as fast as credit cards.. lets say, under 60 seconds. And they have to be user friendly.. Sure the miners and devs may be tech savvy but generally people are not and they don't want to mess with anything to make it work. These two factors is what will make or break a crypto currency in the area of general population acceptance..
Now as to us miners.. I enjoy helping the network with my hashing power (all be is small) and the little bit of rewards given back make it worth supporting these non bank/government controlled currencies.
Now from a aspect of why people mine? Are you doing it to support the currencies or to make money.. I know some of us are in it for both reasons, but what side do you lean.. mining for cash, or mining for the ideas behind crypto currency?
I see it as, I vote with my dollars , and in this case I vote with my hashing power, I put it behind the currencies I see with potential too compete with the big banking system.. Because the human race would be far better off without banks and government controlling the value and flow of our currency. There is no reason for them to control it , we have the technology to do it ourselves and that is what is so great about all the crypto currency.. We can, and are making a "free currency" that no one controls except the users of it.
What I currently support are Bitcoin (it is like a bank wire transfer slow and steadfast) , Digitalcoin (because of the name (well named for the masses) and fairly decent confirm times), and Fastcoin (because of the confirm times and it is also usable from a user and miner aspect, its a balance between the two needs)
So what are your thoughts on crypto, and why do you do it, and what do you support with your efforts?
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