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Mining for Bitcoins


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#1 market101

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Posted 12 March 2018 - 10:35 AM

I keep seeing the word "mining" when reading about cryptocurrency. Evidently you can even join programs for free and participate in their "mining" . OK here is my question: Where does the bitcoin come from that "they" are mining?


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#2 Darren Olander

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Posted 12 March 2018 - 04:22 PM

There is some new bitcoin that is created over time automatically, until the maximum will be hit in something like 20 years I think, and in addition to that there are transaction fees, the combination of the two is what miners are earning for securing the network.


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#3 paulserban

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Posted 13 March 2018 - 09:14 PM

It's incredible how they can create value from nothing!

 

In any case, I stand by these "miners", it's not honest.


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#4 market101

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Posted 16 March 2018 - 11:50 AM

It's incredible how they can create value from nothing!

 

In any case, I stand by these "miners", it's not honest.

 

Hi Paul - Evidently value is in the eyes of the beholder.


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#5 rpsmith

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Posted 03 September 2018 - 12:47 PM

THey catch to the free mining is simply this: You are only getting a portion of of what you mine. The other issue to deal with this type of mining is their longevity. I recently joined one that folded after a few weeks. Also, the free mining is more often a scam. There are a nnumber of scripts that entice you to upgrade, then vanish.


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#6 aussiegold

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Posted 03 September 2018 - 10:15 PM

In my limited experience with cryptos, I now consider "mining" old hat!

 

Consider the ICO (initial coin offering) of the KBC earlier this year. 12 billion coins, of which 7.2 billion were made available for sale/distribution. It sold out in 4 months! Not one of those coins were "mined", yet they are backed by gold bullion.

 

The funds raised (close to $100million) have been used to open the worlds first registered crypto dedicated bank in Miami, Florida. (Opened July 4), secure control of a gold mine in Madagascar with audited resources of over $900million to be mined. This gold will be used to further increase the backing of the coin, thus increasing its value. Other developments include dedicated mobile app developed in conjunction with Sony, the banks own exchange and ATMs globally, plus a far superior blockchain technology which will rival Visa and Mastercard for speed, ease of use and security.

 

Rather than play around with supposed mining projects, search for KBC on most major exchanges, and grab yourself a bargain!


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