Cryptocurrency gives everyone to earn the new money. There are many ways to earn cryptocurrency. Mining, running masternodes, social media and staking and other methodes. Those methodes give opportunities to everyone.
Competition Of Power
Earning cryptocurrency in the author's opinion is about power competition. The bigger the power the bigger the earning will be. Let's learn about how power influence earning on cryptocurrency.
Bitcoin and some cryptocurrency is based on proof of work. Proof-of-work (PoW) mining has incentivized participants in the network to act according to the rules of the Bitcoin network. To earn more reward from mining, your mining power should compete to other powers.
Hashrate is the fuel for carrying out PoW. A miner can expect to mine more blocks as their share of total network hashrate increases.
The bigger the hashrate the bigger earning from reward. To make individual mining, your hashrate is too low to compete to other miners that is why you should join mining pool. The pool will collect all hashrate from miners to be one power hashrate. The reward from the pool will share to miners based on the share of power hashrate among individual miner.
To run masternode you should be required to minimum coins or tokens to be staked. Dash asks 1000 dash to run masternode. It is not cheap to run masternode. The bigger the staking coin the bigger the earning. That is why there is a PoS pool to increase power from staking.
There are some cryptocurrency that reward users from staking. Nem is one of the example. To earn more reward you should stake more coins.
Social Media Power and level
Social media based on cryptocurrency like hive and steem use power system to earn more reward from staking coin. The reward based on power or level. The more power the more curation reward.
Cryptocurrency is about power competition. There are many ways to earn without power by creating new projects but the big potential earning is for the developers and the early birds. Finally, there will be more cryptocurrency to be created in the future because buying more power for current and established coins are to expensive. Creating hive tribe is also about power. When a developer need more power, they should buy or earn power delegation. Creating new token and give reward with token to delegate power to hive is a way to increase power in hive. On the other hand, the side token grow but finally the token should also need more power to earn more. So we are in power competition.
Posted Using LeoFinance Beta