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hoppip93

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    hoppip93 got a reaction from fishbate in Coin mining   
    Well, coins as an online currency are not printed or produced by any central bank like a regular currency, rather it needs to be "mined." And like in the real world, the resources that are mined are actually finite, meaning there is a limit to how much we can get. In this case, miners are people using their computers, where the system uses the hardware to calculate complex mathematical problems to generate new coins. 
    However, because the coins are finite, as more and more are generated, it becomes much harder to mine a single coin. This is why it has gone from just a regular CPU to now requiring ASIC, which are basically supercomputers designed for mining coins.
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