Did they mine bitcoin as they mine gold?

funmi

Verified member
Am so sorry guys if my question sound like a novice's question, this is a question that has been in my mind for a long time now. Though, the first time I heard about mining, I thought it was like it was done with gold but later on I started understanding that it is not like it was literary called. But of recent, I read an article about mining bitcoin.
I read in the article that the mining is causing pollution in the area where bitcoin is being mined. So comes the confusion.
Ever since then, my question has been in my mind for a long time now. Though, have heard people saying there are some apps that are used to mine bitcoin. even when i have not tried to mine any cryptocurrency coin before, but I still think there is more to this.
More so, I will like to know and learn how to mine cryptocurrency coins too. Please there is any one with any idea on it should let be more enlightened on this subject matter.
Thanks in anticipation.
 

Lens1000

VIP Contributor
Gold is not virtual and it's not a currency. Bitcoin is a virtual currency and can not be mined the way gold is mined. Bitcoin is mined solving complex equations and algorithms. Gold are mined by digging the soil because it's a mineral resources .
There is a clear difference between the two and they do not belong in the same space.
Although, you can trade on both of them but they are mine differently
 
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lamia5765

Verified member
Gold is not virtual and it's not a currency. Bitcoin is a virtual currency and can not be mined the way gold is mined. Bitcoin is mined solving complex equations and algorithms. Gold are mined by digging the soil because it's a mineral resources .
There is a clear difference between the two and they do not belong in the same space.
Although, you can trade on both of them but they are mine differently
The group that it is mining gold is not the same group of person that it is mining bitcoin.
If you are mining bitcoin may you open a company with some specific software and hardware configuration to profitable mining I do not mean the casual mining for bitcoin with cryptotab that pays some few satoshis but mining with specific mining software and hardware and there is a lot of course about this concern like NVM and Nivedia.
However mining gold is completelly different there is another kind of hardware for digging the soil.
 
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A K Rao

Verified member
Am so sorry guys if my question sound like a novice's question, this is a question that has been in my mind for a long time now. Though, the first time I heard about mining, I thought it was like it was done with gold but later on I started understanding that it is not like it was literary called. But of recent, I read an article about mining bitcoin.
I read in the article that the mining is causing pollution in the area where bitcoin is being mined. So comes the confusion.
Ever since then, my question has been in my mind for a long time now. Though, have heard people saying there are some apps that are used to mine bitcoin. even when i have not tried to mine any cryptocurrency coin before, but I still think there is more to this.
More so, I will like to know and learn how to mine cryptocurrency coins too. Please there is any one with any idea on it should let be more enlightened on this subject matter.
Thanks in anticipation.
Gold mining is done physically and a lot of people doing the physical work are involved in mining out the Gold. But in the Bitcoin mining there is no physical activity of digging or mining but they have to maintain the ledger where everything about the Bitcoins is maintained right from its origin. Here th ledger is open to every one so they that it is trasparent. Since the mining involves the using of powerful computers, the power required by them is too high and to generate this energy people may be creating some pollution to have power back up!
 
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A K Rao

Verified member
The group that it is mining gold is not the same group of person that it is mining bitcoin.
If you are mining bitcoin may you open a company with some specific software and hardware configuration to profitable mining I do not mean the casual mining for bitcoin with cryptotab that pays some few satoshis but mining with specific mining software and hardware and there is a lot of course about this concern like NVM and Nivedia.
However mining gold is completelly different there is another kind of hardware for digging the soil.
That is a good explanation. In the gold mining the physical machines are used along with a man force to mine out the gold. But in bitcoin mining instead of machines powerful computers are used to maintain the ledger which consume a lot of electricity and thus creating a lot of pollution in the areas where these computers are used in bulk.
 
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sincerem

VIP Contributor
Mining BTC is different from mining Gold. BTC is mined using hardware technology, electricity, and green energy, in favourable location that won't pollute a given crowded environment. Gold is a precious metal, which is naturally gifted, which you can find in a given location that is richly with natural resources. But you can still mine it, in order to extracted to become real Gold.
 
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Yugocean

Moderator
Staff member
You already got enough answers, but if you need to understand in more simple point, then read this -

Gold mining is like all other physical mining which needs a gold field and then dig out the metal from the field. According to the reports, even moon have gold fields.

Bitcoin mining is actually creating the bitcoin by hash power, it is the same power that a hardware device uses to solve different algorithms.
 
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Sherman198

VIP Contributor
Both of them are literally different, one is happening in reality and the other happens in virtuality. To mine Gold, you need the land where there may be Gold. Even though it's natural resources, it's not what you can easily see or find around. Cryptocurrencies mining needs you to buy different mining rigs to buy mine.....And you will good and efficient electric power supply to do that.
 
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