Newbie questions

[ecotopia]

Probably been asked a 1000 times but I'll give it a shot, I'm new to coins mining and I have a few question:

1-who profit from the mathematical calculus that's being done by miners?

2-It's been a few hours I'm mining and I can't see what I've raised on the pool website, how long before my calculus done is recognized and transferred into coins?

3-is there a few site you guys could recommend that give insight on newly arrived bitcurrency and point what's hot right now?

Thanks and happy mining!

Chris.

[EFS]

We have a Beginners & Help board for newbie questions.

[Jacce]

1. The mining pool and the miners. Mostly the actual calculations don't have any use (except for example Primecoin where you find prime number patterns while mining).
2. Depends on the pool. Where are you mining? Are you sure you are actually mining?
3. No, but almost all new coins are announced on this forum.

[ecotopia]

@ealfskillz Really?

@Jacce, thanks so much for your time, I was mining Dogecoins at 250-300 kh/s ~ 3-4$ a days ( on hashfaster dogecoin pool), but I'm gonna pass my turn on this whole mining thing, it's using my GPU too much and I think it does worth it.


I can't believe people are actually wasting energy to calculate stuff that is useless.

I'll still have a look from time to time on what might be a good investment, thanks yall!

[Foxpup]

I can't believe people are actually wasting energy to calculate stuff that is useless.

You shouldn't believe it because it's not true. Mining secures the network by making it computationally difficult to reverse or alter transactions after the fact, which is extremely useful. I think what Jacce meant was that mining has no use outside the context of the payment network, which is technically true, but misses the point completely.

[R0yalAir]

I can't believe people are actually wasting energy to calculate stuff that is useless.

It's important to do maths because people do prefer to calculate their profits 

[Sonny]

I can't believe people are actually wasting energy to calculate stuff that is useless.

You shouldn't believe it because it's not true. Mining secures the network by making it computationally difficult to reverse or alter transactions after the fact, which is extremely useful. I think what Jacce meant was that mining has no use outside the context of the payment network, which is technically true, but misses the point completely.

Yup.
But still, many people attack bitcoin for wasting resource, wasting energy, blah blah blah...

[Jacce]

I can't believe people are actually wasting energy to calculate stuff that is useless.

You shouldn't believe it because it's not true. Mining secures the network by making it computationally difficult to reverse or alter transactions after the fact, which is extremely useful. I think what Jacce meant was that mining has no use outside the context of the payment network, which is technically true, but misses the point completely.

Yes, that was my point, but I wasn't sure exactly how to say it (not a native english speaker). And you're right that it's good for the coin, but if the coin itself doesn't have any real value then it's pretty much useless because the mining (with a few exceptions) don't do anything useful except helping the coin.

[nasamanBoy]

Generally most says that it is not worth .....

[R0yalAir]

Generally most says that it is not worth .....

talks the least says the most