Great question @maxypris. I too am not great with computers, I have found it very helpful to think of these crypto-currencies in 3 classifications
- commodity like gold (Bitcoin for Example) - A great store of wealth but difficult to use as currency in real world situations
- Currency - (Nautilus for Example) - Aiming to cut down on transaction times and increase stability for viable use as everyday currency.
- Stock - (Encrypgen for Example) Bussines's aiming to develop real world applications for blockchain technology.
The mining process differs from coin to coin. The term "mining" in many cases is basically the recording of transactions in order to keep the ledger for the currency. Often requiring complex algorithms, this takes some serious computing skills that are far beyond me.
I would however like to encourage you to research and look for good investments in this space.
You are welcome to start by reading my series "Economic Indicators in The Crypto-economy".
This should help catch you up a little on what is a very exciting space.
I aslo look to @financialcritic and @bullishmoney for information, inspiration, and ideas. I suggest you do the same.
I'm more of an "idiots guide" to investing in this space (lol), which will help. But you need to look to some of these real professionals when your knowledge becomes proficient in this space.
Wow!! thanks, I think u just gave me a starting point and I am going to take you up on your word because I am definitely missing on something so great
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I just put out a little tip
https://steemit.com/cryptocurrency/@beachbuminvestor/economic-indicators-in-the-crypto-economy-volume-5-the-economic-calendar-mainsteemmedia
It doesn't cost a lot to get started either. I started with jus AU$150 and have a portfolio worth approximately $1,000 in less than 2 months. I have diversified into ICO's and I think this is where the real big money will be. I encourage you to follow @encrypgen and please enter the competition. David is giving away free ICO stock and all you have to do is ask him a question about Encrypgen. A great way to get you started since last time I checked there had only been 1 entry. This is real stock in an extremely promising application of blockchain tech in the medical industry. Go say hi to David and ask him a question. It could be the best 2 minutes you invest in your life.
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