Well that's just one seasoning of the shit pie they are going to give us. But yes there's no reason an ISP without net neutrality should let you use high speed internet to mine coins.
I'm just now learning this offline method. I also wonder if it'll give companies the right to steal your usage to mine themselves like some companies have already been caught doing?
How do you "mine" Bitcoin. I use a Coinbase and have bought some Etherium, but I can't even sell it in Canada with thy app ... how do I mine bitcoin and sell what Etherium that I have ?
The extremely oversimplified version is that you have your computer solve extremely complicated math problems. Like what's the 10 millionth digit in some absurd equation. Doing this requires a lot of computing power and the BTC is awarded based on the amount of work each computer did. So people set up a dick load of computers to pull the most weight in solving the equation. There will ultimately be a finite amount of BTC, so it is protected from inflation. In theory any way. Mining on one computer won't really be worth your time.
That's not exactly how it works but that's the best way I know to explain the gist. Others may be able to clarify or explain more accurately or coherently.
16 comments
1 groman31 2017-11-30
They can also sniff out and throttle P2P packets, or packets that are headed to a VPN server that's not the one Comcast offered you.
1 zoinkface 2017-11-30
......no
1 showmeurboobsplznthx 2017-11-30
Why not? If the average Joe can't use crypto currency, how will it gross?
1 Eric_The-Lionhearted 2017-11-30
Well that's just one seasoning of the shit pie they are going to give us. But yes there's no reason an ISP without net neutrality should let you use high speed internet to mine coins.
1 showmeurboobsplznthx 2017-11-30
The cost of electricity and the cost of data will knock every low end player out. It'll be break even or even negative.
1 Garbagebutt 2017-11-30
Blockchains are by default immune to this.
1 showmeurboobsplznthx 2017-11-30
If the isp charges you to use crypto, won't it kill its usefulness?
1 NoJowk 2017-11-30
You can mine offline
1 jnugnevermoves 2017-11-30
It will cause problems with the group miners, but most people would switch to mining offline.
1 showmeurboobsplznthx 2017-11-30
I'm just now learning this offline method. I also wonder if it'll give companies the right to steal your usage to mine themselves like some companies have already been caught doing?
1 jnugnevermoves 2017-11-30
The biggest problem with offline is how hard it is to get a coin without a pool of people working with you.
1 passivehate 2017-11-30
You have to sync up sometime.
1 jnugnevermoves 2017-11-30
Yup, and you need to sell/buy, too.
I would thing it would cause mining to slow, but in reality, the globe would pick up the slack.
1 OffOfCommission182 2017-11-30
How do you "mine" Bitcoin. I use a Coinbase and have bought some Etherium, but I can't even sell it in Canada with thy app ... how do I mine bitcoin and sell what Etherium that I have ?
1 Ridid 2017-11-30
The extremely oversimplified version is that you have your computer solve extremely complicated math problems. Like what's the 10 millionth digit in some absurd equation. Doing this requires a lot of computing power and the BTC is awarded based on the amount of work each computer did. So people set up a dick load of computers to pull the most weight in solving the equation. There will ultimately be a finite amount of BTC, so it is protected from inflation. In theory any way. Mining on one computer won't really be worth your time.
That's not exactly how it works but that's the best way I know to explain the gist. Others may be able to clarify or explain more accurately or coherently.
1 TravisPM 2017-11-30
Having a finite amount also means it's possible to corner the market.