What does miners do?

[Deleted member 26312]

Miners use mining hardware. Basically, these are graphic cards, but not just that. A complex mining equipment, besides graphic cards, has many other performing hardware included. This is a very complex topic, but I will keep it short, because both for myself and for other unexperienced people, it's hard to understand all the technical details.

This mining procedure is also very costly, because the mining equipment are very expensive. A professional miner can pay a minimum amount of $4000 and the period when he can recover his investment can fluctuate from 1 year to 2 years or even more nowadays.

 

[Josemendez]

You have said it all . Mining is not quite an easy investment for one to engage in because of it's demanding nature .

The cost of setting mining apparatus is quite very high ,as it has specifications that the system must have for a successful and faster Mining.

Another challenge with Mining is that it is very costly. Mining requires high consumption of electricity ,which will be a very big disadvantage for a miner in a place where electricity is not cheap .

it is these high cost of Mining that makes miner set Miner's fee to be high during transactions together with network fee