Before I begin, I Just want to say, that I'm both new to the Ethereum community and to Ethereum. I've spent the whole day reading and only feel like I've scratched the surface of this project. I'll be showing up to the next meetup here in Toronto for sure.
My first question is this:
When mining, is my CPU/Hard Drive/GPU kind of like computer power for hire... and my payment/incentive ETH? ** Kind of a renting of my resources. How is the verification of this even possible?
Say at a certain address I send a contract with some gas, is it the case that a miner will come along, accept to process that contract and as incentive, will receive ETH as payment. Am I on the right track here?
Cheers & thank you for furthering the decentralization of society--God's speed.