Why do crypto currency requires miner?

[terryhoho]

If the role of miner is profitable, why didn't the founding team monopolize the miners.

Like Singapore pools is so profitable. So only 1 entity have the license to operate.

 

[alexchia01]

If the role of miner is profitable, why didn't the founding team monopolize the miners.

Like Singapore pools is so profitable. So only 1 entity have the license to operate.

The founding team did monopolized on the miners in the beginning where mining is cheap and easy.

However, the system is designed to make mining more and more difficult as more crypto currency is mined.

This is to make users' focus on supply and demand rather that mining.

This also give the crypto currency its value. If the currency can be mine easily, then its value will decrease as more currency is mined. By making the mining limited, it retains its value.

The reason why crypto currency is so popular in the first place is because no one entity, no one government or no one person controls it. If it's control by one entity, it losses it appeal and value. It become like any other flat currency, no true value.

This'll help you to determine the many fake crypto currencies out there. There are some scam companies that promote their own so call "Crypto Currency". When they are the one who create, issue and determine its value, you know they are fake and is just a ponzi scheme.

In real crypto currency, no one entity can control its creation, issue and value.

 

[terryhoho]

The founding team did monopolized on the miners in the beginning where mining is cheap and easy.

However, the system is designed to make mining more and more difficult as more crypto currency is mined.

This is to make users' focus on supply and demand rather that mining.

This also give the crypto currency its value. If the currency can be mine easily, then its value will decrease as more currency is mined. By making the mining limited, it retains its value.

The reason why crypto currency is so popular in the first place is because no one entity, no one government or no one person controls it. If it's control by one entity, it losses it appeal and value. It become like any other flat currency, no true value.

This'll help you to determine the many fake crypto currencies out there. There are some scam companies that promote their own so call "Crypto Currency". When they are the one who create, issue and determine its value, you know they are fake and is just a ponzi scheme.

In real crypto currency, no one entity can control its creation, issue and value.

mining was cheap and easy, founding team monopolize the mining.

mining become difficult and VALUE INCREASE, founding team stop mining.

 

[01asdf]

mining was cheap and easy, founding team monopolize the mining.

mining become difficult and VALUE INCREASE, founding team stop mining.

Value increases only because mining has become more difficult.