Cryptocurrency miners are the guys who provide fast computers that verify cyrptocurrency transactions. They also record them in a public ledger, called the blockchain. For their work they get a small reward and the opportunity of solving complex math problem. Whoever solves the math problem gets an additional reward. This reward is a brand new never before seen currency unit. That’s why it’s called mining. It’s just like a tiny piece of gold that’s been dug up from the ground.
Managed cryptocurrency mining is when you let someone else, a manager look after your mining equipment. Managed co-mining is when several people keep their mining rigs under the supervision of the same mining manager. He’s like a hedge fund manager. His experience and skill greatly influences the result of your mining operation. Valhalla Mining pioneered this concept.
PEOPLE USED TO MINE BITCOINS FROM HOME ON HOME PCs
The age of home mining is pretty much over. Machines emit a lot of heat and generate a lot of noise. Home computers are barely able to deal with the task of complex calculations.
THERE WILL NOT BE ANY MORE BITCOINS TO MINE AFTER 2140
The last Bitcoin will be mined that year, but miners will still be able to make money by collecting transaction fees or mining other currencies.
THE MORE PEOPLE MINE A CURRENCY THE MORE DIFFICULT IT BECOMES MINE
That’s why in a managed mine setting the manager always needs verify the difficulty of certain currencies.
WITHOUT MINERS THERE WOULD BE NO CRYPTOCURRENCY NETWORKS
Miners verify every single transaction. Without miners and mining equipment the network would collapse
INDIVIDUAL MINERS HAVE A HARDER TIME MINING
Miners that are connected to one another in mining pool have bigger chances of earning rewards. Valhalla miners are in an ever growing pool so their chances are better than the lone miners.