The CoinDesk Mining Roundup: Hot Issues, Lawsuits and Eco Mining
A bit of good news came from FinCEN recently, when it ruled that cloud mining services do not have to register as money transmitters. This is good news for consumers who wish to stay out of purchasing mining equipment for themselves and merely rent hashing power in some remote data centre - especially given the struggles that some manufacturers are having. On that subject, as the ASIC mining market is still in its early stages, it has created an environment where many vendors struggle with shipping on time. Logistical issues stemming from the creation of a new industry practically....
Related News
Cryptocurrency mining for fun and profit is always better with the latest and greatest information. With that in mind, CoinDesk's regular round-up details some of the most interesting events going on in the mining world in recent days - including an intriguing dogecoin announcement. So, let's explore some of the happenings since the last round-up. Mining heads to the cloud. Rackmount Servers. Image: Shutterstock. As bitcoin mining difficulty continues to rise, big-time miners are looking for a leg-up on the competition. If that's you, you might want to check out this article by Data Center....
As the mining industry evolves, there are always new products and services hitting the market for enterprising cryptocurrency entrepreneurs. The competition between hardware manufacturers continues, with CoinTerra shipping its 5,000th unit and KnCMiner offering new incentives. Before ASICs came along, issues of power and cooling were not as much of a priority. Now, even the new Radeon, the most powerful graphics card to date, is not the least bit exciting to those interested in mining. But with data centres full of mining racks and malicious actors dropping cryptocurrency mining libraries....
The price of bitcoin on the CoinDesk Bitcoin Price Index (BPI) has declined in recent weeks on the news that the Internal Revenue Service (IRS) had released complex guidance for digital currency users amid growing uncertainty regarding exchange regulation in China. In the mining world, these price fluctuations can cause ongoing profitability issues, as miners, hardware manufacturers and price are key factors that impact the difficulty. The incentive for people to mine varies with the bitcoin price. A high price makes mining attractive and people invest in costly ASIC rigs. The mining....
Bitcoin's breakthrough from a rather stagnant price has certainly made miners happy as of late. It might even entice the masses to splurge on a mining unit or two. Such an occurrence would certainly help the network as a whole. The recent meeting of minds between Chinese mining hardware suppliers brings back to the fore just how centralized mining continues to be. And while closed-door events like this are happening, the public must contend with the possibility that personal computers can be afflicted with mining malware - that's not positive for the cryptocurrency industry. With that in....
With just over 13 million bitcoins mined - a milestone achieved earlier this month - the mining sector is showing few, if any, signs of slowing. In fact, the past month has shown a new level of activity and awareness in the space, particularly regarding the key issues: scalability, network share and the future infrastructure that will deliver more bitcoins to the system. As Bitcoin Foundation executive chairman Jon Matonis wrote, recent events all point to one overarching outcome: more communication between miners and those with a vested interest in seeing the network succeed. But beyond....