What is "scrypt-coin mining"???

[Inquisitive Builder]

Hey guys,

I was just reading this article: http://www.tomshardware.com/news/cyberpowerpc-mega-miner-bitcoin,26367.html

and came across a new term "scrypt-coin mining" and had NO idea what it meant, and google wasn't really helping. My guess is that it's a way of earning money by processing data for companies on your computer while it's idle, but I have no idea if that's right

And sorry if this is in an inappropriate section, but it didn't seem to quite fit into any of them so I just put it in one with a usable amount of traffic

Thanks for clearing this up for me, and have a nice day guys

 

[millwright]

Not done for anybody but the miner.
Not done on Idle time.

Bitcoin was the first successful one.

A bit coin miner consists of a fairly low end PC running a 1/2 dozen high end graphics cards, to crunch the numbers that give you the coins.


Bit coin has become so hard to crunch that only groups of dozens of people with dozens sometimes 100s of machines are the only ones that have a chance of getting any coin.

Bit coin has a finite number, and every time some mines a coin, they get harder to crunch.

Dogecoin is a newer one that it is still possible for 1 person to succeed, but their coins are worth nothing compared to Bitcoin.

This bring me to one of my pet peeves.
AMD video card prices have gone sky high because of coin mining.

It has just started to go down, a little, but they are stilll over list price.

 

[millwright]

The main Bitcoin bank Mt Gox just got hacked and robbed of most of their Bitcoins.
Bit coins have fluctuated from $1000 to under 500 for a while after the robbery.

Many merchants accept Bitcoin now.

This is all in the cloud, no coins exist.