Rookie questions

[JackRab]

Legwork? He doesn't have time for legwork, that's why he posted here silly.

No one likes to do legwork... legwork is highly overrated!

 

[algofy]

No one likes to do legwork... legwork is highly overrated!

View attachment 176917

Leg day = light arm day

 

[Hoi]

as I said in my post.... I want to know how to trade it... if there is another correction like we just had. No, I would not go long at this price...

please someone explain how it is purchased

You find answers in this thread:
https://www.elitetrader.com/et/threads/best-place-to-trade-cryptos.311311/#post-4487746

 

[fhl]

I've got another rookie question.

My understanding is that processing cryptocoin transactions is what is referred to as cryptomining. The miners are awarded coins for processing the transactions. I don't even know for sure if that is really the way it works, though.

So my question is, if there are only a limited number of bitcoins that can possibly be produced, who has any incentive to process the transactions once the limited number of bitcoins are produced? This same question would apply to every cryptocurency.

Can someone enlighten a rookie?

 

[Cuddles]

Good chance it drops again here soon before it then skyrockets a few months later. At least it's a pattern I've been noticing.

 

[Hoi]

I've got another rookie question.

My understanding is that processing cryptocoin transactions is what is referred to as cryptomining. The miners are awarded coins for processing the transactions. I don't even know for sure if that is really the way it works, though.

So my question is, if there are only a limited number of bitcoins that can possibly be produced, who has any incentive to process the transactions once the limited number of bitcoins are produced? This same question would apply to every cryptocurency.

Can someone enlighten a rookie?

Miners get fees per transaction as well. So when the block-award will go (in the next 124 years) to zero, the number of transactions will rise as well as the bitcoin prize and so the fees. There will always be some equilibrium that the amount of block-awards + fees, will be economically valid for the number of miners (if some miners stop, there is more for the rest).