Gold Miners

[MoneyBank 6]

The easiest way to think about this is to consider gold miners. Gold miners work to mine gold from the earth. As it is mined, it then enters the economy. Conceptually, Bitcoin is the same. How do you think?

[KURTAULI 1297]

There is a big difference between gold and cryptocurrency mining. Cryptocurrency is a mathematical algorithm that has a speculative price. If people decide that bitcoin should be worth $ 500 it will soon be $ 500. Gold is a precious metal whose value is higher

[SHAKILZ 23]

C.ryptocurrency is a mathematical algorithm that has a speculative price If people decide that bitcoin should .The problem of mining crypto is not the probleml of life and the serious risk of natural damage

[BTC Future 3946]

If gold miners do not take precautions there can be many long term effects in their health. For example in Ghana there are thousands of people working in unregistered minefields, where they do not follow health regulations, and end up reducing their life-span by dozens of years. Sadly they've probably not been informed about the hazards. Bitcoin mining is totally different, no need for health regulations, besides keeping the mining place cool at all times, and using noise reduction material on the walls.

[Rickso 768]

On 2/18/2020 at 4:49 PM, MoneyBank said:

The easiest way to think about this is to consider gold miners. Gold miners work to mine gold from the earth. As it is mined, it then enters the economy. Conceptually, Bitcoin is the same. How do you think?

bitcoin is called the "digital gold" for a reason, don't you think?

both of them are "mined", both have a limited supply and both can be used as store of value. so basically yes, both are the same thing, one is physical and one is digital

[magd 5231]

Are you talking about real gold being loosened from the caves? This is crazy because Bitcoin mining does not harm anyone, but when you say gold miners this means geology of the earth and governments will take gold from you because it is the property of all and not only one person

[JuanBerbesi23 199]

So much debate on this mining issue, both are the same as far as making a profit is concerned, but very different in their work to extract said profits, gold is more complicated to have and it is a physical job, if you have gold, some government entity can take it away Now if you mine btc your work is virtual, and you have no risk of having it taken away.

[ejgomez78 35]

Gold mining has shown that it is harmful to the environment, on the other hand, bitcoin mining can use clean energy for its extraction and thus avoid alterations to the environment

[Faruk Akdağ 43]

On 2/18/2020 at 6:49 PM, MoneyBank said:

The easiest way to think about this is to consider gold miners. Gold miners work to mine gold from the earth. As it is mined, it then enters the economy. Conceptually, Bitcoin is the same. How do you think?

Gold mining causes 20 times more energy and costs compared to Bitcoin mining. In addition, unlike Bitcoin mining, gold and precious metal mining people lose their lives every year in underdeveloped countries.☹️

[larryspacca 39]

gold mining was done by men, for BTC mining there are machines, I would say that it is a good step forward for humanity

[rocki 319]

On 2/18/2020 at 4:49 PM, MoneyBank said:

The easiest way to think about this is to consider gold miners. Gold miners work to mine gold from the earth. As it is mined, it then enters the economy. Conceptually, Bitcoin is the same. How do you think?

I think you are right, the total amount of bitcoin and gold is limited, so in the future there is a big chance that the price will go up.

[MoralStories 1127]

I have not heard about the gold minors before but I know that you can use some mining and create a physical Miner by yourself with the help of graphic cards so you can try that

[joemcgwa 3227]

On 2/18/2020 at 6:49 PM, MoneyBank said:

The easiest way to think about this is to consider gold miners. Gold miners work to mine gold from the earth. As it is mined, it then enters the economy. Conceptually, Bitcoin is the same. How do you think?

The gold mining is different from the bitcoin mining, the bitcoin mining you'll be mining bitcoins which is already alive, but the gold mining you'll be mining things which is luck to mine and you have no guarantee on how much gold you'll be mine.

[Bushant 44]

Gold mining is the process if exploiting gold minerals on earth. Which Bitcoin mining is the the process of exchanging crypto currency in trading in various market. Gold mining required physical fitness in exploiting the minerals from the group while Bitcoin currency can be trade from anywhere in the world. Bitcoin can be trade without any physical appearance. 

[KarlJohn1 56]

Gold miners is completely different from crypto mining because many cryptocurrencies. To mine gold, you will need political influence and also more money, but it is gainful and profitable. But I will still prefer to mine bitcoin over gold.