Steep decline in cryptocurrency market has miners dumping their GPUs on Ebay

[Admiral Yi]

With bitcoin, the equations are transaction verifying.

I believe the mining calculations are different than the verifying ones.

[Grey Fox]

It really seems like the article should explain what mining cryptocurrency is.

Many Cryptocurrencies are basically designed around solving certain equations in a community effort. "Mining" means solving the equations that credit you said currency. The number of solutions for the equations might be finite finite, or at least has sharply diminishing returns, limiting the total supply of the currency. That makes it harder to mine new currency, requiring more and more processing power. Miners are looking for processors that are most effective in "mining" the currency. New currencies that become popular can create rushes, much like goldmining, to acquire it quickly and efficiently.

I think the translation is: mining is find people that will buy into the scheme.

Mining is supply.

And without people willing to buy into the scheme there is no market.

True but hackers are still out there.