Steemit Crypto Academy Contest Season 9 Week 5 - "Cryptocurrency Mining"
Hallo steemians all...
Still with the Steemit Season 9 week 5 Engagement Challenge on the last day with this post from the SteemitCryptoAcademy community in week 5 and this is the first time I have participated in this amazing contest, and God willing, I will start again next time if the SteemitCryptoAcademy community is selected for the season Next, just like any other community, there are a number of questions that must be made, including:
| What to Expect in the Contest? What is cryptocurrency mining? How does it work? Can STEEM tokens be mined? |
|---|
In contests, of course, we expect to get more support and sponsorship from important people so that contests that are posted get more coins by considering the background of the contest that is written, namely whether the contest that we write is worthy of voting or not with not much plagiarism from writing We.
Cryptocurrency mining is a process of mining new crypto assets. We can access the mining process using the internet network or we can use a computer specifically for crypto mining
The way it works is certainly not an easy thing to do, it requires certain knowledge and expertise because it is a difficult activity, namely using a computer that uses sophisticated hardware. Hardware ( hardware) for the mining must be able to solve computational math puzzles.
Yes, because the STEEM token has mined tokens called "ninja mining" which aims to develop and to trust the company not to abuse these funds
| Names Different types of mining methods for cryptocurrencies |
|---|
Types of mining methods for cryptocurrencies: Cloud Mining is a method by only paying someone to mine, which usually companies rent mining machines, this is the easiest way to use.
CPU mining is a way of mining cryptocurrency using a processor, this method is also one of the easiest ways because you can also use a computer or PC.
GPU mining (Graphic processing unit) is the most popular method today, the reason is that this type of mining is more efficient and cheaper.
ASIC ( application specific integrated cicuits ) mining is a special device designed for crypto money mining which can generate a lot of crypto money but this method also has drawbacks i.e. it is easy to rob.
| Have you ever been involved in cryptocurrency mining? If yes, can you share with us how you mine these coins? |
|---|
Currently I have never been involved in cryptocurrency mining, because I have a tool that allows for the mining process, as we all know that if you want to carry out the digital currency mining process, you must have a device specifically designed for mining, and also have laptop or computer specifically designed to produce the mine.
| Give some Importance and benefits of cryptocurrency mining |
|---|
One of the benefits of cryptocurrency mining is fast transfers with huge investment profits and the speed and price of cryptocurrencies are also very promising
| Mention some of the challenges of cryptocurrency mining |
|---|
The challenge for cryptocurrency mining is the huge use of electricity and the many restrictions and regulations for mining. Furthermore, access to hardware is not easy because it requires the fastest and most sophisticated technology to remain fast, efficient and profitable.
Access to capital is of course enormous and requires the most efficient investment and supply to keep costs low.
so for my contest post this time thank you for everything, in this case I invite my friends @ikwan ,@hotspotitaly ,@waterjoe and @irawandedy to participate here, thanks for everything.
@realworld23
TENTANG SAYA
My dear you have given your knowledge about this topic. But here is an advice for you ! You must go in depth for writing this topic. Overall it's good research from your side. Thank you !
thank you dear for your notification, I just entered into crypto world🙏🏻
That's good to know.
thank you dear, I will dive deep into crypto knowledge next
Good luck
my twitter
Jika sudah memiliki berbagai alat yang lengkap rasanya suatu hari nanti saya juga ingin menciptakan kripto sendiri 😁
Joss
Biar saya kasi nama nantinya, sekalian ta pesijuk laju🤣🤣
🤣🤣🤣
You try to cover all the questions but unfortunately you are unable to go into depth in most of the questions as the depth was required you can explain more about the importance and the benefits of cryptocurrency mining but in the above questions you says right that steem can be mined but you don't told us that it can only be done by the top 21 witnesses at the blockchain.
You have told us about CPU GPU and Asis method of cryptocurrency mining and all these are good methods agree with it but you should go into more depth and over all I want to say that next time you must try to improve the quality of your post and search many more things to tell about each question in detail
this is my first post in the field of crypto, and I've just started, for the rest I'm still a beginner friend, if there are many mistakes, please forgive me
Mantap, serba bisa, termasuk mengulas mining crypto....
Hahah bacut bacut abi ta grak but
Insyaallah mehasee🤣
Hola real world
Leyendo tu post me di cuenta que tienes ciertas confusiones. Por ejemplo la única forma de minar steem es siendo parte de los 21 primeros testigos. Los cuales nosotros los5 usuarios votamos por ellos. Ellos son como nuestros representastes.
El resto de las cosas te sugiero que investigues un poco más. Siempre es bueno tener conocimientos del mundo que nos rodea y más si nos queremos dedicar a eso.
Suerte y éxitos✌️
yes, that's true brother, I'm still confused about this, and I'm just learning
Hi @realworld23
You tried your best to explain mining and how it works in simple way but it should be more elaborated. I agreed with the challenges that a miner face during mining, you given in post. Good attempt, best of luck for the contest. I need you feedback too on my post
https://steemit.com/hive-108451/@suboohi/steemit-crypto-academy-contest-season-9-week-5-cryptocurrency-mining
thank you mama for your opinion, I will visit your place