Topic: Why are some coins mineable, and some are not? (Read 414 times)
In fact, all beginners do this, but home mining is no point. Equipment breaks down faster than pay.
Basically there are some PoW coins, PoS and even centralized ones. The PoW are mineable by design, others aren't. There are also lots of assets based on foreign blockchains so they are not mineable too. PoW coins are mostly considered as secure ones and others are more efficient in terms of energy. So, the easiest way to differentiate them is to visit coinmarketcap.com to see full list of them.
theres essentially 4 or more main methods for mining.
the first is the algorithm sha256 which bitcoin and litecoin use. These used to be mined by everyone using cpus and gpus but have since been replaced by dedicated asic (Application-specific integrated circuit) miners which can only be used to mine this algorithm and basically knocks all cpu and gpu users out of the park.
next up we then had algorithms that were asic resistant so as to allow people to mine from home which would lead to more decentralised networks, the problem with this was soon enough people realised they could use the power of their gpus to mine and then came along gpu rigs dedicated to mining alts.
since then weve had asic and gpu resistant coins that only allow you to mione with cpu thus allowing a larger amount of people to mine easily from home.
and ontop of these proof of work coins (pow) we have also got coins which use proof of stake (pos) which allows users to "mine" (stake) using the tokens they hold. This is a more energy efficient way to manage a blockchain since you arent burning massive amounts of energy to calculate hashes.
my explanation is a bit messy so im sure someone else could explain it better.
the first is the algorithm sha256 which bitcoin and litecoin use. These used to be mined by everyone using cpus and gpus but have since been replaced by dedicated asic (Application-specific integrated circuit) miners which can only be used to mine this algorithm and basically knocks all cpu and gpu users out of the park.
next up we then had algorithms that were asic resistant so as to allow people to mine from home which would lead to more decentralised networks, the problem with this was soon enough people realised they could use the power of their gpus to mine and then came along gpu rigs dedicated to mining alts.
since then weve had asic and gpu resistant coins that only allow you to mione with cpu thus allowing a larger amount of people to mine easily from home.
and ontop of these proof of work coins (pow) we have also got coins which use proof of stake (pos) which allows users to "mine" (stake) using the tokens they hold. This is a more energy efficient way to manage a blockchain since you arent burning massive amounts of energy to calculate hashes.
my explanation is a bit messy so im sure someone else could explain it better.
Tokens and Coins are different. They do both have a total supply but, Coins can be mined and Tokens are fix from the beginning. Instead of "Mining" they sell tokens to the Public also known as ICO.
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I am new to GPU mining and I wonder if there will always be profitable coins to mine, or if one day all coins will no longer be mineable.
This is hard to say, because we don't know what kind of coins will be created in the future, what kind of fork will happen, the price for electricity in the future, etc.
Hi All, does anyone know why some coins are mineable and some aren't?
I am new to GPU mining and I wonder if there will always be profitable coins to mine, or if one day all coins will no longer be mineable.
Non mineable cryptocurrencies are Proof of Stake (PoS) coins. There are coins that exist that are 100% PoS, which means that all the coins for the currency already exist, the only way you can have them is to purchase it, example of this is ripple. Mineable are proof of work (PoW) coins, those are blockchain based cryptocurrencies like Bitcoin. I am new to GPU mining and I wonder if there will always be profitable coins to mine, or if one day all coins will no longer be mineable.
There's a lot of different kinds of coins to be mine. Use mining calculator to know which coin is more profitable to you.
Mineable coins are coins like bitcoin, they use the PoW to give them value. Otherwise would be like fiat currency, generated out of thin air.
Non mineable coins are shares, tokens, have no value by there self, but is the value of a company or project. Coins like ripple, stellar etc are just a scam, no real value, not a share. You just give your money away to the companies that have this tokens and give you some virtual tokens. Also be careful because shares like ripple and stellar are centralized, that's means that these companies can change numbers without the network to need to verify the changes...
Non mineable coins are shares, tokens, have no value by there self, but is the value of a company or project. Coins like ripple, stellar etc are just a scam, no real value, not a share. You just give your money away to the companies that have this tokens and give you some virtual tokens. Also be careful because shares like ripple and stellar are centralized, that's means that these companies can change numbers without the network to need to verify the changes...
This is something that you can set when you create a coin. Instead of mining they can sell all the tokens to people. I think mineable coins are better than other coins in the long term but I don't talk about tokens, they are very different than mineable coins.
i think the all coins mineable but depends in the miners the miners have a choice to choose the coins he/she want to mine probably the miner choosing they have high potetial value like bitcoin and ethereum are the best to them to mine because have great value in the market.
Hi All, does anyone know why some coins are mineable and some aren't?
I am new to GPU mining and I wonder if there will always be profitable coins to mine, or if one day all coins will no longer be mineable.
The mineable feature is a feature of the coin.I am new to GPU mining and I wonder if there will always be profitable coins to mine, or if one day all coins will no longer be mineable.
It's depends of how the coin creator want his coin would be creating.
All the coin in one time, the day of the creation or in a certain period of time...
because you're a pleb and some are not.
Hi All, does anyone know why some coins are mineable and some aren't?
I am new to GPU mining and I wonder if there will always be profitable coins to mine, or if one day all coins will no longer be mineable.
I am new to GPU mining and I wonder if there will always be profitable coins to mine, or if one day all coins will no longer be mineable.
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