Can someone explain whats the diffrent between all the types of mining??
There are three types of mining.
- Ore mining is the removal from the earth of material that has value (such as gold, coal, plutonium, etc)
- Bitcoin mining is the search for a SHA256 hash of a bitcoin header that has a value less than the current target
- Altcoin mining and "cloud mining" are usually scams and a waste of time, effort, and money
and how much money u can generate from mining if u do it for like 12h+ a day ?
With bitcoin mining, you can generate a maximum of approximately $1 million of gross revenue per day if you do it for like 12 hours per day and you have more hash power than the rest of the world combined. You'll need to subtract your expenses from that. If you can acquire enough equipment for free and have access to enough free electricity then that would be $1 million in profit per day. If you buy outdated hardware, spend too much money on it, and have expensive electricity, then you will probably spend more money than you will earn (you will lose money).[/list]
Hey Danny after seeing your reply I have a question regarding the altcoins. Are all of them scam ? Can't they be exchanged somewhere for bitcoin or did I miss something from your explanation ? Cloud mining I know and have read here it's a scam.