The trick to Mining

[Gazucha]

 Hi all,

 I am a newbie to Crypto's, yet keen to learn more.
 
 One thing that is still not clear to me is how and why one would go mining for whichever currency?

 I feel sure there are others in te same boat as me.

 Answers on a postcard. x

[EightAndaHalfTails]

Hi all,

 I am a newbie to Crypto's, yet keen to learn more.
 
 One thing that is still not clear to me is how and why one would go mining for whichever currency?

 I feel sure there are others in te same boat as me.

 Answers on a postcard. x

Well, in the early days of most crypto coins, this is the only way to harvest/acquire more coins. They're buried (like gold), in blocks (like mines). With bitcoin you're a few years and thousands of dollars of equipment too late to the party, the same is becoming true of litecoin, but there's a ton of other altcoins that haven't had the penetration/adoption of those two. Like NXT, it's brand new so it's easy to get in and start gaining.

[DiCE1904]

Hi all,

 I am a newbie to Crypto's, yet keen to learn more.
 
 One thing that is still not clear to me is how and why one would go mining for whichever currency?

 I feel sure there are others in te same boat as me.

 Answers on a postcard. x

Well, in the early days of most crypto coins, this is the only way to harvest/acquire more coins. They're buried (like gold), in blocks (like mines). With bitcoin you're a few years and thousands of dollars of equipment too late to the party, the same is becoming true of litecoin, but there's a ton of other altcoins that haven't had the penetration/adoption of those two. Like NXT, it's brand new so it's easy to get in and start gaining.

Agree completely with this one. You missed out on the days of getting 50LTC a day. But you haven't missed this boat yet! If I was you I would do some research and find out of nxt is something you can fully back and enjoy. And since it takes coins to "mine" NXT, if you find yourself thinking nxt is something you want to start earning on. Buy some to get yourself mining. Its basically like if you were to buy some GPUs for mining LTC or a ASIC for mining BTC