ALLROUNDER001
New member
MINNING
LET ME DIVE IN THE DARK REALM OF THE IMAGINATION
ASSUME YOU'RE SENDING THE MONEY TO ANOTHER ACCOUNT OR WITHDRAWAL IN THE BANK
SO THE BANKS VERIFY THE TRANSACTION AND CUTS THE SHORT AMOUNT OF FEE TO VERIFY
LIKE YOUR NAME IS FREDERICK AND YOU WANTED TO SEND THE 1000$ TO YOUR FRIEND NAMED WILLIAM
THROUGH THE BANK
THE THING IS THAT
THE BANK VERIFY S THAT TRANSACTION
BANK BACKEND EFFORTS IN THE TRANSACTION
MAKE SURE THE TRANSACTION IS VALID
SEE THE DATE&TIME
WHAT'S YOUR ACCOUNT NUMBER
WHAT'S THE ANOTHER PERSON ACCOUNT NUMBER
WHAT'S THE REASON TO SENDING THE MONEY
ETC...
AND TO VERIFYING THESE THINGS THE BANK ISN'T DOING THAT FREE OF COST
THE SOME AMOUNT OF FEE CHARGED FROM YOUR ACCOUNT
THERE YOU GO
IN CRYPTOCURRENCY WE CALLED THAT TRANSACTION FEE IS THE MINNING FEE
AND THAT'S WHAT MINNING CALLED
THE MINNING IS THE PROCESS TO CONFIRM THE TRANSACTIONS ON THE BLOCKCHAIN
IN EVERY CURRENCY THERE'S A MAX SUPPLY IT MEANS THAT THE TOTAL AMOUNT OF THAT SPECIFIC CRYPTOCURRENCY CAN BE MINED
LIKE AS WE CREATED THE 1 TRILLION COINS IN OUR THIS ARTICLE WHEN WE'RE CREATING THE TOKEN FOR OUR WEBSITE
[ARTICLE LINK]
SO HERE'S A CATCH
THE 1 TRILLION COINS ARE THE TOTAL MAX SUPPLY OF OUR TOKEN
SO IT'S DESCRIBING THAT WHEN ANY ORGANIZATION OR COMPANY WANTED TO MAKE THEIR OWN CRYPTOCURRENCY OR TOKEN
THEY MUST GIVES ANY NUMBER FOR THEIR CRYPTOCURRENCY
TO SPECIFY THAT THE MAXIMUM AMOUNT OF CRYPTO CAN BE MINED IN THE FUTURE
IN THE CASE OF BITCOIN
THE SATOSHI NAGA MOTO
SPECIFY THAT TOTAL MAX SUPPLY IS THE 21 MILLION
IT MEANS IT'S THE MAXIMUM VALUE TO MINED THE BITCOIN
AND THE CURRENT AMOUNT OF MINED BITCOIN IS THE 19MILLION+
NOW YOU CAN READ THE BOOK DEFINITION
TO RELATE ALL THE THING'S
SO GO AND GOOGLE LOL
YOU CAN UNDERSTAND BETTER NOW
...
LET ME DIVE IN THE DARK REALM OF THE IMAGINATION
ASSUME YOU'RE SENDING THE MONEY TO ANOTHER ACCOUNT OR WITHDRAWAL IN THE BANK
SO THE BANKS VERIFY THE TRANSACTION AND CUTS THE SHORT AMOUNT OF FEE TO VERIFY
LIKE YOUR NAME IS FREDERICK AND YOU WANTED TO SEND THE 1000$ TO YOUR FRIEND NAMED WILLIAM
THROUGH THE BANK
THE THING IS THAT
THE BANK VERIFY S THAT TRANSACTION
BANK BACKEND EFFORTS IN THE TRANSACTION
MAKE SURE THE TRANSACTION IS VALID
SEE THE DATE&TIME
WHAT'S YOUR ACCOUNT NUMBER
WHAT'S THE ANOTHER PERSON ACCOUNT NUMBER
WHAT'S THE REASON TO SENDING THE MONEY
ETC...
AND TO VERIFYING THESE THINGS THE BANK ISN'T DOING THAT FREE OF COST
THE SOME AMOUNT OF FEE CHARGED FROM YOUR ACCOUNT
THERE YOU GO
IN CRYPTOCURRENCY WE CALLED THAT TRANSACTION FEE IS THE MINNING FEE
AND THAT'S WHAT MINNING CALLED
THE MINNING IS THE PROCESS TO CONFIRM THE TRANSACTIONS ON THE BLOCKCHAIN
IN EVERY CURRENCY THERE'S A MAX SUPPLY IT MEANS THAT THE TOTAL AMOUNT OF THAT SPECIFIC CRYPTOCURRENCY CAN BE MINED
LIKE AS WE CREATED THE 1 TRILLION COINS IN OUR THIS ARTICLE WHEN WE'RE CREATING THE TOKEN FOR OUR WEBSITE
[ARTICLE LINK]
SO HERE'S A CATCH
THE 1 TRILLION COINS ARE THE TOTAL MAX SUPPLY OF OUR TOKEN
SO IT'S DESCRIBING THAT WHEN ANY ORGANIZATION OR COMPANY WANTED TO MAKE THEIR OWN CRYPTOCURRENCY OR TOKEN
THEY MUST GIVES ANY NUMBER FOR THEIR CRYPTOCURRENCY
TO SPECIFY THAT THE MAXIMUM AMOUNT OF CRYPTO CAN BE MINED IN THE FUTURE
IN THE CASE OF BITCOIN
THE SATOSHI NAGA MOTO
SPECIFY THAT TOTAL MAX SUPPLY IS THE 21 MILLION
IT MEANS IT'S THE MAXIMUM VALUE TO MINED THE BITCOIN
AND THE CURRENT AMOUNT OF MINED BITCOIN IS THE 19MILLION+
NOW YOU CAN READ THE BOOK DEFINITION
TO RELATE ALL THE THING'S
SO GO AND GOOGLE LOL
YOU CAN UNDERSTAND BETTER NOW
...