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Title: How to mine IOTA Post by: johnnycash70 on November 29, 2017, 10:13:46 AM Hi
i am just wondering if its possible to mine IOTA coins. And if it is profitable regarding the missing fees. thanks Title: Re: How to mine IOTA Post by: bathrobehero on November 29, 2017, 10:19:58 AM It's not mineable, all the IOTA is in existence now.
Title: Re: How to mine IOTA Post by: johnnycash70 on November 29, 2017, 10:31:30 AM ok,
i just read something at reddit regrding IOTA: If you want to do a transaction you have to process two other transaction. That means every sender will be a little miner. Please correct me if i am wrong. Title: Re: How to mine IOTA Post by: fapar on November 29, 2017, 11:33:10 AM ok, i just read something at reddit regrding IOTA: If you want to do a transaction you have to process two other transaction. That means every sender will be a little miner. Please correct me if i am wrong. You can buy IOTA on the exchange - so they will appear in your wallet. But to transfer them to another purse, you will need to do the work - serve the other two transactions. In principle, then you can call yourself a miner/masternode/server. Title: Re: How to mine IOTA Post by: johnnycash70 on November 29, 2017, 11:39:51 AM that sounds pretty cool.
We never know what will happen with the massive electricity which bitcoin miners consume. Maybe some goverments will put a law, sanction what ever on the mining process to cut the electricity waste. Than IOTA would be the green coin. Title: Re: How to mine IOTA Post by: fapar on November 29, 2017, 12:25:01 PM that sounds pretty cool. We never know what will happen with the massive electricity which bitcoin miners consume. Maybe some goverments will put a law, sanction what ever on the mining process to cut the electricity waste. Than IOTA would be the green coin. Then the PoS algorithm (proof-of-stake) can be called such a "green" nonvolatile one. We need only any computer with Internet access, on which a synchronized wallet will be launched - this is called the masternode. You earn new coins by confirming transactions on the network. There can be of course both PoW/PoS or as IOTA own unique PoW. Title: Re: How to mine IOTA Post by: johnnycash70 on November 29, 2017, 01:03:17 PM Is there any incentive to offer capacity?
Title: Re: How to mine IOTA Post by: fapar on November 29, 2017, 06:56:32 PM Is there any incentive to offer capacity? I didn't understand the question. So can't recommend. If there is a desire and a certain amount of free money you can try. But first read the main thread about IOTA https://bitcointalk.org/index.php?topic=1216479.0 There are have problems not solved in 2015. Title: Re: How to mine IOTA Post by: IGCGamers on December 21, 2017, 01:11:07 PM So if we transfer iota to another wallet, we will act as the miners. Is my understanding correct? If yes, do we get rewarded for each transaction?
Title: Re: How to mine IOTA Post by: pbuva on December 21, 2017, 02:38:42 PM that sounds pretty cool. We never know what will happen with the massive electricity which bitcoin miners consume. Maybe some goverments will put a law, sanction what ever on the mining process to cut the electricity waste. Than IOTA would be the green coin. Then the PoS algorithm (proof-of-stake) can be called such a "green" nonvolatile one. We need only any computer with Internet access, on which a synchronized wallet will be launched - this is called the masternode. You earn new coins by confirming transactions on the network. There can be of course both PoW/PoS or as IOTA own unique PoW. So, i can just install wallet on all my Windows based rigs and i can get some coins from network this way? Title: Re: How to mine IOTA Post by: Mutant_Event on March 22, 2018, 02:44:59 AM Sorry, but I am still not quite getting this. So all coins are in existance. Sop we still have POS. So we can set up an online active wallet on our PC, which is a master node and we get coins for this. So what are we actually doing here? :-\
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