December 1, 2019

What do you think about being able to print your own money in a totally legal way? Awesome! Right? So… stay tunned because I’m going to talk about criptocurrency mining. Since Antonio Molina sang us (SPANISH SONG) ¡Soy minero! ¡Y templé mi corazón con pico y barrena! Mining hasn’t been so trending. Even though it’s used the term mining it has nothing to do with the process of taking out carbon or other minerals. We call mining the fact of closing Blockchain blocks. Block-what? Most of the criptocurrencies has the Blockchain tech incorporated. And Blockchain it’s some kind of accounting book which registers all the electronic transactions made around the world with the criptocurrencies. This “chain” lives in thousands all around the world and it’s getting bigger meanwhile transactions are added to it. For example, in Bitcoin, every 10 minutes a new block is generated as the transactions are completed in that period of time. But for a new slavel to be added to the chain, miners are needed. “Miners” are not real people, they’re specialized computers to do so. Then… How exactly the miners earn money closing blocks? Everytime that a miner closes a block from an especific criptocurrency, the network rewards it with the criptocurrency it’s mining. To sumarize, criptocurrency mining it’s nothing like investing on criptocurrencies, but it would be more like printing your own money, on a totally legal way. And that’s all for today folks! If you have any question, doubts or suggestions you can email me at the address on the screen. My name is Adrià Muñoz, and this is the Entrepreneur’s Vlog.

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