Trading and mining are both investment.
With trading, it simply with selling your house ( 1 time money )
With mining, it simply let someone rent your house ( earn money many times, but need controll more things)
Topic: Trading and mining of bitcoin, do they mean the same thing? (Read 125 times)
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I can understand that trading entails buying and selling of things which could be applicable to bitcoin. What does mining actually mean? Is it the same as trading?
Both are different things and there is no relation between them then why you are comparing them.
Mining meaning confirming the bitcoin transactions or other crypto currencies transaction.But trading is buying and selling of crypto currency.Mining profits will be based on the specifications of our miners whereas trading profits will be based on the skills.
For my understanding trading is buying and selling goods on a short term basis to make a quick profits. Mining is solving difficult math problems using hardwares that has raw computing prower that is mostly found in GPUs/video cards. For every solved problems you"ll earn specific amount depending on the difficult of the problems.
I can understand that trading entails buying and selling of things which could be applicable to bitcoin. What does mining actually mean? Is it the same as trading?
They are different, in trading you will just trade crypto currencies just like what they do In Forex trading. In mining you would need a computer hardware to solve algorithmic problems in a specific block chains or pools, every solved problem will equate in a specific crypto currency that you want to mine. That is why crypto miners are buying many GPUs/video cards because of their raw compute performance.
I can understand that trading entails buying and selling of things which could be applicable to bitcoin. What does mining actually mean? Is it the same as trading?
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