Quote:
Originally Posted by Holger
Can someone explain the process from start to end?
So you buy a bit of hardware and set it up on your DSL. What software is it running? Do you set up an account somewhere?
How do you ensure that you get the WHOLE value and nothing is forked to some programmer?
How does the cashout work?
I am not into this sort of virtual mining at all. In fact I dont like where this is going. There is no back up for the value at all. So the money is generated out of the air. That cannot "hold" ...
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Holger - There are plenty of good primers and YouTube vids explaining it.
There are parts where crypto-currency actually could be closer to traditional cash. For example - there are a fixed number of units that can generated. Unlike paper money that has an unlimited number that can be printed reducing the value. Most countries currency is no longer on the gold standard - so the value is no different really.
