Mining or "mining"

Recently, in my environment, I have to observe a lot of people trying to make money in the rather popular field of cryptocurrencies and related types of earnings.

I admit, I'm interested in this topic myself. But, nevertheless, I have not invested a penny in this tempting area.


When I decided to write this article, it even seemed to me that in this way I could somehow justify my ignorance and indecision in this matter. However, along the way, there were more compelling reasons – both for writing this article and for inaction in this type of e-commerce.

To begin with, money is "... an idea that rests on confidence" (L. Ron Hubbard). And humanity came up with this measure of value in order not to carry any product with them in order to exchange it for another.

And just the device of the entire cryptocurrency industry and their "mining" does not inspire confidence. This market is periodically in a fever. When buying cryptocurrency, you do not get anything significant in return, as a rule, only an electronic code that is securely encrypted and registered in the so-called "blockchain" system.

If we talk about real mining (translated from English – mining), where a real product is created, such as gold, silver, copper or other metals, then there you get CONFIDENCE that this product will REALLY be accepted and paid for in the future. Moreover, the money that rotates in an economy where real production works is backed by confidence and does not devalue rapidly.

From this we can conclude that the LACK OF PRODUCTION AND PRODUCTS is equivalent to the LACK OF MONEY.

Thus, all an organization needs to raise revenue is to produce a valuable end product and exchange it for other goods and services using money.

Unfortunately, in the field of cryptocurrencies, where people expect to earn easy money, there is no proper exchange (valuable goods for money). Consequently, this system of easy money creates criminals and lazy people. Nowadays, this phenomenon can be observed everywhere.

Moreover, the production spirit of an organization depends on the level of production. Where there is no fighting spirit, it is necessary to strengthen production by each employee. This can be achieved by setting specific tasks and paying for the product created at each individual work site. Employees who create products at their workplaces and exchange them for appropriate payment from the employer are satisfied and do not show negative emotions towards their organization and its management.

Marat Nugmanov
Editor-in-Chief of BR,
founder of Drilling Solutions


EXPERT OPINION:

"...I believe that cryptocurrencies are a grand pyramid in the spirit of the early post–Soviet MMM. Accordingly, I stay away from them. And I advise you to familiarize yourself with the history of previous investment and speculation booms (from tulip bulbs to shares of Internet companies)"

General manager
Polymetal OJSC Vitaly Nesis

"...In my opinion, the prospects for the cryptocurrency market are very vague today. Despite the fact that the developers of blockchain technologies assure that the cryptocurrency market is safe and transparent, it is still sensitive to the decisions of the Chinese authorities, since up to 80% of all miners are based in this country. We are already witnessing a serious collapse of the exchange rate, due to the ban on cryptocurrency exchanges in China in 2017."

Chairman of the Management Board
JSC NGK Kazgeologiya Galym Nurzhanov