THE TRADERS AND THE MINERS ARE BOTH SMILING - page 2.

Odogwu-Blockchain

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Quote from: Bitwave01 on June 28, 2024, 10:28:22 AM

The miners just like most of us now, just interact with some apps, do the task required by the devs and claim free coins daily ontill the project lunches, then sell off and enjoy the money. You pay nothing to get them, every free money in crypto is called AIRDROP.

You got it wrong my friend, please do more research and keep learning, this is not the explanation and meaning of mining. Interacting and doing daily tasks on a crypto app for rewards is still airdrop because you pay no money getting but doing a specific set of daily tasks for it. Airdrop are not even free, you work for it with your money or doing a simple task, two kinds. I guess you are thinking about Hamster Kombat, Blum, NOTCOIN and the rest "Tab and earn" projects as mining, NO, they aren't, they are airdrop gotten by doing daily tasks.

Quote from: nelson4lov on June 28, 2024, 05:09:19 PM

Miners are people that validate transactions on any blockchain to ensure that each transaction meets the network standard (no double spend, etc).

Op, this is the exact work of a miner not what you wrote on your post, keep learning Wink

nelson4lov

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After reading through OP, I noticed a few things do not add up.

Miners are people that validate transactions on any blockchain to ensure that each transaction meets the network standard (no double spend, etc). Because a few apps on playstore throws the term around doesn't mean that it is correct. People that just interact with applications whether on-chain or telegram are regarded as just users when they simply just interact with the protocol or app and farmers if they interact with the expectation of an airdrop. It's not the same as shouldn't be regarded as such.

There's plenty of misinformation like this about Bitcoin today which is why it's taking longer than expected to get massive adoption. To become a miner for any blockchain, you actually need to do some kind of computation not just to "interact with a few apps".

promise444c5

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Quote from: Bitwave01 on June 28, 2024, 10:28:22 AM

The miners just like most of us now, just interact with some apps, do the task required by the devs and claim free coins daily ontill the project lunches, then sell off and enjoy the money. You pay nothing to get them, every free money in crypto is called AIRDROP.

You are getting it wrong OP...
Claiming an Airdrop doesn't make you a miner it'smore like giveaway token to your wallet...
Minning is totally different from what you just said fine you can mine using your phone maybe for altcoins maybe...(just few) but using Bitcoin as an example you need to have a high computational power to mine coins , although years back you could mine with a low power since the hash wasn't high then but now there's a need of dedicated hardware like ASICs which are now use in the process and not to mention of other related stuff to setup..
Altcoins might not need specific hardware but some does so far it uses the POW (Proof Of Work ) system, some Uses the POS( Proof of Stake)....POW is quite different from POS mechanism you can DYOR about that as not to go off topic

Frankolala

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OP, the crypto space is not the way that you think it is. Moreover, those shitcoins that you are talking about mining will not give you any profit if you are not lucky. Bitcoin is the only cryptocurrency that have foundation and history with great potential which makes it unique from the other because it is decentralized.

Mining bitcoin needs a huge resource because the cost of electricity is very high and you cannot make profit from it if you are a solo miner in Nigeria. Trading is the worst because you need to learn everything about trading which is not easy and cannot be done in a year. You also need money to practice trading because you must run at loss. Most airdrops nowadays are scam.

You should invest in bitcoin and hodli for along period of time in order for you to make profit because the price of bitcoin increases overtime.

Ever-young

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There is no way of earning crypto that's very easy, based on what I know. Even with the people who have money to invest in it, you need to do research on which coin to buy and which one not to buy in order to not waste your money on the wrong coin that has no future.

Another thing is that real crypto mining is not just what you guys do on Telegram. To start earning a lot from mining either bitcoin or other cryptocurrencies, you need to spend money in order to get the few gadgets needed to get started.

To the best of my knowledge, there is a large difference between mining and airdrop, although recently both have been used interchangeably by some newbies in the crypto space.

Bitwave01

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In our today world, making money is easier in the crypto space, you don't really need vigorous knowledge to venture into it, all you need is elementary knowledge of it and your phone. You can start with or without money, you just have to choose whether to be a Trader or Miner.

Traders use their money to make more money just by buying potential coins and keeping it for some time. They sell off when the coin appreciates in value. While on the other hand
The miners just like most of us now, just interact with some apps, do the task required by the devs and claim free coins daily ontill the project lunches, then sell off and enjoy the money. You pay nothing to get them, every free money in crypto is called AIRDROP.

This is where many people leverage on. There's no need sitting down to complain of no capital to start a business or looking for urgent 2k, when people make millions by just pressing their phones.
The same energy you put in social media vibes put it in whatever area of Crypto you decide to major on and make some cool cash without stress.

Topic: THE TRADERS AND THE MINERS ARE BOTH SMILING - page 2. (Read 319 times)