Crypto-currencies, especially Bitcoin, have been experiencing a boom for some years now. From the alternative means of payment, virtual money has become a popular speculative asset over the past five years.
The equivalent in “real” currency has risen sometimes exorbitantly, as well as the desire of many willing to invest to participate in the hype. After all, attract considerable profits even in short periods.
On closer inspection, it is not that easy to get your own piece of the crypto-cake.
Crypto-Mining: The Easy Way to Wealth?
In theory, the concept of mining sounds quite simple: You get a computer with sufficient computing power, to the necessary software and from this point you can (theoretically) watch how the so-called mining rig enters the money. What sounds like a possibility with which even absolute amateur technicians can land a big hit turns out to be quite complex.
This is partly because the underlying blockchain technology is already based on complexity. In order to be able to carry out transactions with them, highly complex cryptographic algorithms have to be resolved. This, too, can be taken over in theory by commercially available computers. In fact, there are even smartphone apps in circulation that exploit the computing power of telephones to dig up bitcoins or other cryptocurrencies without the owners’ knowledge. ...CONTINUE READING