SK funky (OP)
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July 14, 2018, 12:21:05 PM |
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is there any difference, are they one and the same?
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BitGunner
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July 14, 2018, 12:33:53 PM |
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to tell the truth, i don't know for sure but if i m not mistaken mining is more expensive, there are whole cities of miners who spend much time and efforts for coins , i think that it is worth it and means that soon governments will soon accept it
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Jackolantern
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WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN
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July 14, 2018, 12:39:56 PM |
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I have no idea what is the difference and would be glad to find out this as well, i have heard only about mininig but it is too expensive now which means that it is not effective to use this method if only you aren't a rich man
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NeuroticFish
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July 14, 2018, 01:43:53 PM |
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is there any difference, are they one and the same? Staking is also mining. The better question is about the difference between PoW (proof of work) and PoS (proof of stake). Shortly, for PoW you do complicated calculations with a machine (ASIC, FPGA, GPU, CPU, ..) and for PoS you just keep as many coins as possible in a wallet that's running all the time. There are many articles on the internet about this, now as you know better what to look for, you better search a little and see how others answered to this question.
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Nurshazwani
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October 23, 2018, 03:47:00 AM |
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So basically, staking uses little resources when compared to mining so this means less electricity consumption and no need for extra machines to participate in staking.
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Shannon98
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October 23, 2018, 05:27:56 AM |
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Using the Proof of Stake (Pos) algorithm that is the basis of many new cryptocurrencies, staking involves the purchase of cryptocoins and holding them in a wallet for a particular period of time.
Mining requires technical know-how as well as computational power so as to solve the algorithmic puzzles involved in blockchain networks.
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daarul50
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October 23, 2018, 06:46:39 AM |
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I think there is no difference because the stake is included in the mining process. Many people have answered questions like this and it would be better if we find out the right answer from the question above because everyone has their own opinions.
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Mhd-Bobbi
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October 23, 2018, 03:53:53 PM |
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is there any difference, are they one and the same? The question is not relevant, it looks like you need to read to better understand, you only need to do a search on Google. the difference between installation and mining? What do you want to install? What do you want to do to mine? if you ask whether Bitcoin mining? maybe I can answer from some definition articles.
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tegarp90
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October 23, 2018, 03:58:35 PM |
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is there any difference, are they one and the same? Maybe staking is something just like holding a token / currency that will get dividend in a period of time. And mining, you should have a rig to do this and get the rest bitcoin available supply
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fosco333
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October 24, 2018, 02:33:57 AM |
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is there any difference, are they one and the same? Well, actually staking is mining too, but using a different method. If you are mining with devices such as ASICs or GPUs or CPUs, then you mining with Proof of Work (PoW Mining). If you staking, then you are mining with Proof of Stake (PoS Mining). Although they both mining, but there are some differences on them, not same.
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PM.coins
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October 24, 2018, 10:26:56 AM |
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I think there is no difference because the stake is included in the mining process. Many people have answered questions like this and it would be better if we find out the right answer from the question above because everyone has their own opinions.
I agree with you, when people question something (the difference about mining) actually we often find a different opinion in conveying. It happens because of the point of view or understanding. But that is not a problem, and can be explained. Thanks.
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Red-Apple
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October 24, 2018, 11:32:15 AM |
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another thing to consider about the difference between the two is with examples. when a mineable PoW coin is released even if the developer premines the coin, he still has to invest in the mining equipment if he wants to make more profit on his coins and "do work" for it. but when a staking PoS coin is released and the developer premines it, he simply sits back and relax and does basically NOTHING but gets paid for "doing no work". and that is one of the biggest flaws in PoS in my opinion which is the same as the rich gets richer for only being rich.
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--signature space for rent; sent PM--
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Olayinka225
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December 15, 2018, 06:23:52 PM |
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I think to my own best knowledge in crypto, I think the best way to explain this is by saying that:
Staking is by loaning a particular digits or amount of a coin in a project for a defined dividend or percentage in (a week, month year) for profits. The rule will be set by the organizers that this is the percentage we'll be giving on a particular amount of coin one put into stake.
While mining is just by a way of saying one is mining bitcoin.
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kryptqnick
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December 15, 2018, 10:15:50 PM |
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is there any difference, are they one and the same? Staking is also mining. The better question is about the difference between PoW (proof of work) and PoS (proof of stake). Shortly, for PoW you do complicated calculations with a machine (ASIC, FPGA, GPU, CPU, ..) and for PoS you just keep as many coins as possible in a wallet that's running all the time. There are many articles on the internet about this, now as you know better what to look for, you better search a little and see how others answered to this question. This is a great answer, but I'd like to add more specifics. Most likely, the op was indeed asking about proof of work and proof of stake. Proof of work or what we generally associate mining with is a way to generate new coins by solving mathematical tasks. For the process to be efficient, one needs special equipment and a lot of electricity nowadays (even though there are exceptions). Proof of stake is similar to deposit earnings in banks. You hold coins for some time and get regular additional coins for doing it. No need for equipment and electricity, but a less decentralised system, I guess.
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zolfa
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December 15, 2018, 10:52:52 PM |
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yes, staking like passive income in mining by holding coins. for example, I hold a coin in my wallet, and I can get a 90% profit from the coin that I hold.
staking is easier and simpler than mining with hardware.
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hadveach
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December 15, 2018, 11:16:40 PM |
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both have the same function to mine crypto, but the method is different.
mining relies on hardware, and good hardware will get crypto that is fast and very profitable.
but staking is very easy from mining. and very long to get profit.
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Ezenwanyi1
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Veil
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December 26, 2018, 05:36:11 AM |
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From my own perspective, mining and staking seems to be the same thing . The difference is that while miners spend time , using mining equipments to mine Bitcoin, in staking all you need to do is stake your coins, like lending your coins to miners , they use the coins to buy one or two hardwares alternatively pay for power consumption for mining and at the end of the deal......you get paid in commensurate to the amount of coins you staked.
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kalel18
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December 26, 2018, 12:46:41 PM |
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the function of each one is the same, staking is easier than the one, just you need to full fill your task what ever they give you and wait for a time to distribute, you do not need a rig and it is called (pow mining) which is used by (cpu, gpu, etc) this one need profit to setting a hardware to use. This two is the same minning but in deffirent ways.
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acholagi
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January 01, 2019, 05:57:12 AM |
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is there any difference, are they one and the same? staking is usually applied to coins with POS algorithms, an example of a coin with this popular staking algorithm is DASH, you must have 1000 Dash to be able to become a staking participant of the Dash and get passive annual income mining is another term from the POW algorithm (Proof Of Work), where you have to have computer components with good specifications to be able to do this mining, especially VGA Cards. Examples of coins that use the POW algorithm are Ethereum, Bitcoin and Electroneum. Especially for electroneum, you can do mining using a smartphone
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Edenvidal
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January 08, 2019, 02:02:32 PM |
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The difference between staking & mining is that, when you say staking it means you taking the risks/gamble in a certain situation or money or something with value while mining means obtaining units of cryptocurrency by running a computer process to solve a specific problem or to make it simple, you it faster than anyone else.
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