Bitcoin mining is becoming vastly more decentralized in 2021
Data shows anonymous entities becoming an ever larger force on the Bitcoin mining scene this year and last. Bitcoin (BTC) has become considerably more decentralized in the past year, one metric suggests — and the trend is growing.According to data from on-chain data resource Blockchain, hash rate distribution is increasingly favoring small, unknown miners. Small guys increase slice of mining pieDespite the past twelve months seeing a large price run-up, Bitcoin miners have not become more “corporate” — mining is actually seeing more anonymous, small-scale entities join in.Looking at hash....
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Released on 11th February, a new report by US-based multinational financial services company JPMorgan issued a sharp critique of bitcoin and other digital currencies. The eight-page report, authored by the company's head of global FX strategy, John Normand, aimed to present the "risks and opportunities" posed by bitcoin. However, throughout the text, Normand puts much of his focus on the former category. Most notably, Normand suggests that bitcoin is "vastly inferior to fiat currencies" on several counts, and that it is unlikely to ever be afforded the status of legal tender by world....
Numerous developments made 2021 an unprecedented year in Bitcoin mining, setting the stage for a monumental 2022.
Believe it or not, in 2021, Bitcoin mining stocks have outperformed the king of cryptocurrencies. This crowns the phenomenal year the whole Bitcoin industry has had. However, consider Arcane Research’s warning, “an investment in mining companies carries a much higher risk than an investment in bitcoin itself.” As with any other complex business venture, a […]
Mining of the first cryptocurrency, Bitcoin, began on January 3, 2009. A considerable time has passed since the first block of bitcoins was mined with a reward of 50 coins. And at the moment, by mining, you can already get more currencies in addition to Bitcoin. The complexity of mining has also grown during this […]
Mining City’s growth throughout 2020 has been significant. With an easy-to-use website, thousands of community members active all over the world and regular promotions, now is a great time to begin reaping the possibilities that Mining City (www.miningcity.com) has to offer in 2021. What Is Mining City? Mining City is an initiative that unites people through mining cryptocurrency. Using a “mining plan” structure it gives its users the opportunity to obtain hash power needed for mining. This hash power entitles them to a portion of the total mining reward. Put simply, once....