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Author Topic: 🔴🔴Which mining type is the best? Different types of mining🔴🔴  (Read 262 times)
Mycrypto1222
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August 10, 2018, 07:07:54 PM
 #1

Hey guys! I've made an article about different types of mining with pros and cons of each strategie. Link here: https://blockchainmuffin.com/how-to-start-mining-cryptocurrency, and now I have a question to You guys: Which mining type do you prefer, which is the best for community?  Huh

  • PoS
  • PoW
  • Hybrid - PoS and PoW



Thanks for Your answers.  Wink

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darkangel11
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August 10, 2018, 07:36:56 PM
 #2

To begin with, you could have mentioned that phone mining can also damage the device as phones aren't made for heavy use and the batteries don't like being heated all day long by the other components. Phone mining at current state should be avoided not encouraged.

As for the cloud mining i'd say that all of these companies are scams. The difference is in the degree. Some are outright stealing your money, some are making sure that your contracts become unprofitable to get rid of you. With cloud mining companies you should be happy if you earn anything at all.

GPU and ASIC mining are not the only 2 options available. There are many other like CPU or HDD mining. There are also new FPGA projects.

It's not bad, but could use more detailed explanations. Good effort Smiley


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August 10, 2018, 08:20:07 PM
 #3

How did you mine on PoS? do you really know what PoS is? Please read this Wiki https://en.bitcoin.it/wiki/Proof_of_Stake

PoS is proof of stake so, the more you have coins in your wallet the more you can generate coins unlike in PoW algo which you need a hardware before you can mine altcoin or bitcoin.

I think it's better to remove cloud mining from the list to let newbies know that cloud mining is too risky and like the above said most of these are scam. Also, remove PoS because you can not use PoS on mining.

Anyway, I recommend ASIC miner because this is more profitable than GPU mining these days. You can refer to this link https://www.asicminervalue.com/ which miner is better and profitable.

Mycrypto1222
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August 10, 2018, 08:22:45 PM
 #4

Thank you for your comment. I added information about HDD mining. Recently Apple and google have banned applications that were mining coins, that's why I did not mention it.

Have a nice day.

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August 10, 2018, 08:41:46 PM
 #5

How did you mine on PoS? do you really know what PoS is? Please read this Wiki https://en.bitcoin.it/wiki/Proof_of_Stake

PoS is proof of stake so, the more you have coins in your wallet the more you can generate coins unlike in PoW algo which you need a hardware before you can mine altcoin or bitcoin.

POS is considered to be a form of mining. It's a wordplay of sort, since both POW and POS are used to validate transactions and both allow you to earn money on this validation, they are pout on the same level and sometimes referred to as POW and POS mining. For instance:
https://www.coinbureau.com/education/comprehensive-guide-pos-mining/
https://medium.com/novamining/main-differences-between-pow-and-pos-cryptocurrency-mining-c4cc279d9739

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anatolykarpov
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August 11, 2018, 12:12:52 PM
 #6

Mining has to stop and we need more efficient protocols, mechanisms, technologies to keep consensus in blockchain network.
POS is one of the ways but needs to be better for sure.

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August 11, 2018, 02:43:52 PM
 #7

POS and POW have their pros and cons. But there is one important factor.In the end, when the last bitcoin is mined, the network will have to switch to Proof-of-Stake. Since it significantly reduces energy consumption and does not require such high computing power, gradually all cryptocurrencies will switch to POS mining. Sorry for my English.

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August 11, 2018, 06:02:10 PM
 #8

Which mining type do you prefer, which is the best for community?  Huh
Bitcoin choices are best so bitcoin one.
Why? Because they are most conservative yet well thought-through which is needed for stable, reliable currency/store of value.

mu_enrico
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August 12, 2018, 12:01:28 AM
 #9

You might want to read this topic https://bitcointalk.org/index.php?topic=4776600.0
The list is still growing as more of consensus algorithm found. However, none are as proven as bitcoin PoW which could resist malicious attacks/forks for 8 years.

Mycrypto1222
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August 12, 2018, 05:17:29 PM
 #10

ok, thanks for your comment  Cool

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Mycrypto1222
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August 14, 2018, 03:16:26 PM
 #11

What do you prefer most to build profit: PoS or PoW?  Huh

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September 07, 2018, 02:05:12 PM
 #12

I would say physical world mining, I even installed app that promises this, but due to my poor health I'm not able to use it (I didn't even register account with them).

But I know that's not the answer you're looking for  Cheesy
Out of these three I prefer PoW.
But not any PoW - egalitarian PoW, meaning you can mine with your CPU, no special equipment required, so every person interested who own a computer (or even smartphone) can do this.

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