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Author Topic: THE TRADERS AND THE MINERS ARE BOTH SMILING  (Read 108 times)
Bitwave01 (OP)
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June 28, 2024, 03:28:22 PM
 #1

In our today world, making money is easier in the crypto space, you don't really need vigorous knowledge to venture into it, all you need is elementary knowledge of it and your phone. You can start with or without money, you just have to choose whether to be a Trader or Miner.

Traders use their money to make more money just by buying potential coins and keeping it for some time. They sell off when the coin appreciates in value.  While on the other hand
The miners just like most of us now, just interact with some apps, do the task required by the devs and claim free coins daily ontill the project lunches, then sell off and enjoy the money. You pay nothing to get them, every free money in crypto is called AIRDROP.

This is where many people leverage on. There's no need sitting down to complain of no capital to start a business or looking for urgent 2k, when people make millions by just pressing their phones.
The same energy you put in social media vibes put it in whatever area of Crypto you decide to major on and make some cool cash without stress.
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June 28, 2024, 03:44:52 PM
Merited by Justbillywitt (1)
 #2

There is no way of earning crypto that's very easy, based on what I know. Even with the people who have money to invest in it, you need to do research on which coin to buy and which one not to buy in order to not waste your money on the wrong coin that has no future. 
 
Another thing is that real crypto mining is not just what you guys do on Telegram. To start earning a lot from mining either bitcoin or other cryptocurrencies, you need to spend money in order to get the few gadgets needed to get started. 
 
To the best of my knowledge, there is a large difference between mining and airdrop, although recently both have been used interchangeably by some newbies in the crypto space.
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June 28, 2024, 03:53:57 PM
 #3

OP, the crypto space is not the way that you think it is. Moreover, those shitcoins that you are talking about mining will not give you any profit if you are not lucky. Bitcoin is the only cryptocurrency that have foundation and history with great potential which makes it unique from the other because it is decentralized.

Mining bitcoin needs a huge resource because the cost of electricity is very high and you cannot make profit from it if you are a solo miner in Nigeria. Trading is the worst because you need to learn everything about trading which is not easy and cannot be done in a year. You also need money to practice trading because you must run at loss. Most airdrops nowadays are scam.

You should invest in bitcoin and hodli for along period of time in order for you to make profit because the price of bitcoin increases overtime.

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June 28, 2024, 03:57:12 PM
Merited by Churchillvv (4)
 #4


The miners just like most of us now, just interact with some apps, do the task required by the devs and claim free coins daily ontill the project lunches, then sell off and enjoy the money. You pay nothing to get them, every free money in crypto is called AIRDROP.

You  are getting it wrong OP...
Claiming an Airdrop doesn't make you a miner it'smore like giveaway token to your  wallet...
Minning is totally different from what you just said fine you can mine using your phone maybe for altcoins maybe...(just few) but using Bitcoin as an example you need to have a high computational power to mine coins , although years back you could mine with a low power since the hash wasn't high then but now there's a need of dedicated hardware like ASICs which are now use in the process and not to mention of other related stuff to setup..
Altcoins  might not  need specific hardware  but some does so far it uses the POW (Proof Of Work ) system, some Uses the POS( Proof of Stake)....POW is quite different from POS mechanism you can DYOR about that as not to go off topic

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June 28, 2024, 08:20:29 PM
 #5

In our today world, making money is easier in the crypto space, you don't really need vigorous knowledge to venture into it, all you need is elementary knowledge of it and your phone. You can start with or without money, you just have to choose whether to be a Trader or Miner.
It's not easy as you're saying it especially, when referring to crypto space. The crypto space can be a real jungle with so many different cryptocurrencies out there, when it comes to trading and mining Picking the wrong ones can indeed lead to losses. Bitcoin i know can be a very nice option, but trading and mining bitcoin its not what you master overnight
It requires deeper understanding than just having elementary knowledge, unlike Bitcoin investment that you buy and hold for long term.

Mining Bitcoin is like digging for digital gold. Miners use powerful computers to solve complex mathematical problems that validate and secure transactions on the Bitcoin network. When a miner successfully solves a problem they add a new block to the blockchain. This process helps maintain the integrity of the network and ensures transactions are legitimate It's a competitive process, and miners need specialized hardware and a lot of computater power to be successful.

Trading Bitcoin is definitely a challenging task that takes time and effort to master. Understanding market dynamics (analysis,techniques and market's trends) and making informed decisions are important to avoid potential losses. It's not what you go into with elementary knowledge.

Trading and mining crypto are not  easy as we see it, they demand a good amount of information and knowledge to succeed unlike investing in Bitcoin for the long term by buying and holding for potential profits.

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June 28, 2024, 10:09:19 PM
 #6

After reading through OP, I noticed a few things do not add up.

Miners are people that validate transactions on any blockchain to ensure that each transaction meets the network standard (no double spend, etc). Because a few apps on playstore throws the term around doesn't mean that it is correct. People that just interact with applications whether on-chain or telegram are regarded as just users when they simply just interact with the protocol or app and farmers if they interact with the expectation of an airdrop. It's not the same as shouldn't be regarded as such.

There's plenty of misinformation like this about Bitcoin today which is why it's taking longer than expected to get massive adoption. To become a miner for any blockchain, you actually need to do some kind of computation not just to "interact with a few apps".

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June 28, 2024, 11:42:57 PM
Last edit: June 29, 2024, 12:09:28 AM by Odogwu-Blockchain
 #7

The miners just like most of us now, just interact with some apps, do the task required by the devs and claim free coins daily ontill the project lunches, then sell off and enjoy the money. You pay nothing to get them, every free money in crypto is called AIRDROP.
You got it wrong my friend, please do more research and keep learning, this is not the explanation and meaning of mining. Interacting and doing daily tasks on a crypto app for rewards is still airdrop because you pay no money getting but doing a specific set of daily tasks for it. Airdrop are not even free, you work for it with your money or doing a simple task, two kinds. I guess you are thinking about Hamster Kombat, Blum, NOTCOIN and the rest "Tab and earn" projects as mining, NO, they aren't, they are airdrop gotten by doing daily tasks.

Miners are people that validate transactions on any blockchain to ensure that each transaction meets the network standard (no double spend, etc).
Op, this is the exact work of a miner not what you wrote on your post, keep learning Wink
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June 29, 2024, 12:06:08 AM
 #8

In our today world, making money is easier in the crypto space, you don't really need vigorous knowledge to venture into it, all you need is elementary knowledge of it and your phone. You can start with or without money, you just have to choose whether to be a Trader or Miner.

Traders use their money to make more money just by buying potential coins and keeping it for some time. They sell off when the coin appreciates in value.  While on the other hand
The miners just like most of us now, just interact with some apps, do the task required by the devs and claim free coins daily ontill the project lunches, then sell off and enjoy the money. You pay nothing to get them, every free money in crypto is called AIRDROP.

This is where many people leverage on. There's no need sitting down to complain of no capital to start a business or looking for urgent 2k, when people make millions by just pressing their phones.
The same energy you put in social media vibes put it in whatever area of Crypto you decide to major on and make some cool cash without stress.
Please don't go explaining things this way to a newbie who is interested in cryptocurrency trading, you will be sending him or her to a robust loss and you could also be in trouble for misleading because absolutely this is just so misleading about trading.

Cryptocurrency trading is ain't buying and selling of akara and bread and boom! You've made profit. It has send a lot of people who think this way you do packing back to square one. Trading demands a lot of devotion and and a deep knowledge of both technical and fundamental analysis. You must be aware of market psychology, have a proper risk management and a bunch of other requirements you can't learn at a go but from your personal experience with the market.

I don't want to go into talking about the mining as you have actually done a disaster there with all you said concerning crypto mining... Grin



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June 29, 2024, 08:30:24 AM
 #9

In our today world, making money is easier in the crypto space, you don't really need vigorous knowledge to venture into it, all you need is elementary knowledge of it and your phone. You can start with or without money, you just have to choose whether to be a Trader or Miner.

The crypto spheres isn't an end of the road of making money, so then, there'd always seems vital excuses of those who're unable to earn from it.
Earning in the Crypto markets isn't just so easy as thought because you'll either need to invest with your money and knowing quite well about the volatility nature of cryptocurrencies especially the AltCoins, it could ruin an inexperienced investors financial portfolio.
Talking about mining? It isn't still so easy because you'll need much technical knowledges and series of electronic or or mobile equipments for it. It's just unfortunate that not everyone can afford all that requirements.
Talking about airdrop? You can still fall into fake projects having all your times wasted with it.
Instead I'll say that crpto market is a flexible industry which allows and enables individuals to for flexible digital earning diversifications while saving you physical stresses.

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June 29, 2024, 11:35:13 AM
 #10

It is only when you are investing your money in bitcoin that you don't need a wide knowledge of bitcoin before you can start a bitcoin investment, but when it comes to altcoin investment, you need good knowledge to identify the altcoin that is good to invest in. Trading is not a good start for a newbie, and you shouldn't encourage trading before you misguide other newbies into adopting trading, thinking that trading is an easy way to make cool cash in crypto. Before you can be successful in trading, you need to have good knowledge of technical analysis to be able to guess when to enter a trade and leave a trade to allow you to take your short-term profit, and you must be able to know if there will be news that will cause the crypto market to dump so that you will wait for it to happen before you buy a coin or token. As a newbie, you lack these skills, and it will take you a long time to learn, so I will advise you to do more learning than teaching so that you can know how things work in the crypto space.

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Fiasem20
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June 29, 2024, 01:18:19 PM
 #11

Op to earn through crypto no easy as you think,first thing to do na to acquire the basic knowledge about crypto before you fit make any move.Now the internet just full with misleading informations about crypto,so the knowledge wey you acquire matters alot.You go just read caption online wey dem write traders and the miners are both smiling and you wey dey new in the crypto space go just neglect to acquire knowledge rush go trade token wey no get value and no be sweet mouth sef trading no be easy task nai make financial advisors dey always talk say e dey more profitable and less risky to invest than to trade crypto.
Airdrops tapping don turn mining for some crypto users most especially the newbies,no let anybody deceive you dem no be desame thing.Person fit dey tap for years make ehn no reap anything from airdrops because majority of these new tokens wey pump into the crypto space na scam.If you wan mine coins go for the ones wey get potential like Bitcoin,and to mine Bitcoin light no go cease for your house, validate transactions and solve mathematical puzzles.

Doan9269
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June 29, 2024, 05:12:29 PM
 #12

This is where many people leverage on. There's no need sitting down to complain of no capital to start a business or looking for urgent 2k, when people make millions by just pressing their phones.
The same energy you put in social media vibes put it in whatever area of Crypto you decide to major on and make some cool cash without stress.

Traders and miners don't just earn like that while sitting, they all bend down their knees to work and also have their hands always on desk to make something productive out of what they are doing, when we go to the requirements needed in setting up  mining rig, then we are going to realize that it's not a child's play to become a miner, because it's capital intensive and time demanding, secondly, if we are to go for trading, this is another big task ahead of us because we may choose to earn bitcoin and then use it for trade but when we are not being careful, we may not achieve any goal with trading, all these tells us more about being mindful of what we use our time for.

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June 29, 2024, 05:30:16 PM
 #13

If it was that easy everyone of us here would have become a millionaire in dollars by now. It's not that very easy. You are just looking at the positive side without looking at the negative aspect of it. In every 100 airdrops you participate in there is every tendency that 98% of it are scams, if they are not scams they won't pay. It could be that you are still very new in the crypto space and you have been luck to have gotten an airdrop that pays you few bucks that's why you are sounding this way. There is no easy or free money any where not even in this crypto space as you are saying. The traders you are referencing if they tell you how much they are losing on daily basis you will be surprised. To be a successful trader you professional knowledge and not basic knowledge about the crypto space. Hodlers are those that need basic knowledge to buy and hold their crypto, but if you are venturing into day trading like future trading please seek for professional knowledge before you lose all your funds and blow your account within hours or days.
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June 29, 2024, 05:57:23 PM
 #14

You can start with or without money, you just have to choose whether to be a Trader or Miner.
I no know who tell you say e dey easy oh, but trading no dey very easy at all, you go fit lose all of your money and mining go cost you a lot of money, plus other logistics problem, like cost of electricity and maintenance, etc.
While on the other hand
The miners just like most of us now, just interact with some apps, do the task required by the devs and claim free coins daily ontill the project lunches, then sell off and enjoy the money. You pay nothing to get them, every free money in crypto is called AIRDROP.
I no know the type of mining wey you dey talk about, but no be so bitcoin mining be oh; and none of us here be bitcoin miner. You dey mistake airdrop for mining, or maybe na shitcoin mining you dey talk about.



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Today at 03:28:53 PM
 #15

In our today world, making money is easier in the crypto space, you don't really need vigorous knowledge to venture into it, all you need is elementary knowledge of it and your phone. You can start with or without money, you just have to choose whether to be a Trader or Miner. .

  You cannot just venture into trading or minning without much knowledge on how e dey work if not you will end up wasting your time.
If you venture into trading without much knowledge you go later invest in a coin that will make you lose because you don't have  much knowledge or you just have elementary knowledge about how it works but you don't know how to choose the best coin . many people venture into trading without much knowledge and they end up losing their money and so they got poor.
The same thing go happen if you venture into minning without much knowledge you will mine an irrelevant coin wey at the end go be wastage of time and resources.
  That why dey open many centres and institute for people make them learn trading so that they go avoid wastage of money and time,so i advice people to get much knowledge not elementary knowledge about trading before venturing into it.
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