#CryptoMining?! Yes, it IS a bunch of #MathPuzzles the #Miners' Computers Solve; but--without #Cryptominers--#Cryptocurrencyinvestors would Lose Big!

Cryptocurrency-"mining" ... have you heard about this?

I discuss that "mining" in a forum (that'll PAY you to respond) linked through 'that word' below; but first I want to understand that word better. And I find you understand words better if you look at 'the words at their base' (then going on to look at the words at those words' bases, then the words at those words' bases, etc.-etc. ad infinitum)

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The word “Miners” is built on ancient words that mean a |Pit or Tunnel (Dug either to Extract Precious Ore or -to Get Under Fortifications in order to Over|throw them #Undermine #Undermining #Undermined #Underminer); if not the adjective/pronoun from the base of the word Me (#ThisHeartOfMine #NoFaultOfMine). 

#Mine #Miner #DiamondMine #MiningCamp #GoldMine #MineSweeper #Landmine #MineShaft #Minefield #PlatinumMine #SilverMine

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Let's see; it's basically "a decentralized currency," and--rather than 'writing a check that the bank uses to modify your balance & the recipient's balance'--you ... well, it's something like 'if you want to give me some of your crypto-coins, you send them to me and "the #miners" verify our transaction'; but ... 'the way they #mine it' is weird ...

Hmm ... I don't get it ... I mean I get that 'Alice wants to give Bob two "units,"' and I guess I understand that we all want to verify that transaction in our ledgers; but what has that got to do with 'solving a math-puzzle'? Who writes the math-puzzle? How many "units" are created by the transaction?

Wait a minute! I totally skipped the whole 'writing a check'-complexity!

I mean, I know we bank-customers don't have to understand it any better than 'we put money in the bank, and then we can spend it by writing checks (or spending it with our bank-cards)'; but there's an unseen level of complexity to banking, one that doesn't get discussed (mostly because none of us (non-bankers)  ever need to worry about it).

I think it's something involving 'the way the FDIC insures the banks' ... Maybe we get a glimpse of it when we apply for a loan---as we have to 'put up collateral' until we repay the loan (I imagine, never having taken a loan (none that I remember))