I start sounding like a broken record but Bitcoin is too slow payment method for most of the people. For it to be useful in daily use, it needs to be about 60 times faster.
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I start sounding like a broken record but Bitcoin is too slow payment method for most of the people. For it to be useful in daily use, it needs to be about 60 times faster.
Agreed. But when people are looking at cryptocurrency, the very first they will probably even hear of, or look into is most likely Bitcoin. And from Bitcoin, they will possibly look at other, faster, and better cryptocurrencies. I don't know anyone who didn't start with Bitcoin first... Here, an upvote to make up for your downvotes...😉
I also did start with Bitcoin... It took weeks to mine enough to reach minimum payment threshold on a mining pool for newbies... I made my biggest profits with Intense Coin though.
I never mined and in the beginning, I only used Bitcoin to buy other cryptocurrencies so I've never really had to transfer Bitcoin aside from the odd time between wallets. Yeah, it takes a long time (but it has been worse...) but it's still faster than most bank transfers with fiat...
I've never heard of Intense coin, will have to look into that. My biggest profits were NEO (bought when it was still Antshares) and THC :)
Intense Coin (ITNS) was previous name of Lethean (LTHN), a coin that combines VPN functionality to wallet.
In the beginning I mostly mined because I didn't have enough cash to buy coins. Then I started modifying mining pool software to add features and that became primary reason for continuing mining.
Sounds interesting. Yeah, I'd love to mine, but I'm afraid I don't have enough technical knowledge for that. With trading, I literally started buying 30 dollars worth of crypto at a time. I invested a total of 400 dollars in about 3 months and was very, very lucky that I bought the right coins at the right time.
Mining is really easy if you have the right hardware and mine only coins that use well-known algorithms... It is usually best to mine coins that have been around just few weeks as it gets harder if the coin is older. Usually it is risky to mine coins that are not listed on any exchanges yet.
Yeah, that makes sense. But wouldn't the hardware be quite pricey too? And then that needs upgrades all the time, right? I always understood that a couple of 100 dollars really won't get you what you'd need.
Or do you have different kinds of info on that?