Bitcoin Mining for a long time was something that the Nerds have made interested in the digital Coin on your own PC or in the basement. With the increasing market capitalisation of Bitcoin in the last few years, the Bitcoin Mining altered accordingly. In the meantime, the domestic Mining is no longer worthwhile financially. Interested operate, it is rather for ideological reasons.In contrast, a greater centralization of Mining is. In China, for example, a huge warehouse filled with halls specifically for Bitcoin Mining custom-made processors, to be able to as efficiently as possible, the arithmetic operations to perform. Now a Crypto has collected Startup, based in the United States millions of dollars to be in Texas for a Mining Farm build. Americans hope so, more decentralization in the Mining, as the Chinese market shares could be dug. Even Peter Thiel was among the investors.
Contents
Bitcoin Mining is a new business area
A San Francisco-based Crypto Startup called Layer 1 has recently announced that it has raised $ 50 million from investors. The Startup was founded at the end of last year, and was described at the time as an “activist-Fund for crypto-currencies”. To be able to directly beginning the founders to collect 2.1 million $ from investors such as Peter Thiel. These were originally supposed to be for the development of Crypto protocols used.However, the Crypto-Startup seems to have its orientation changed, and the new collected $ 50 million, in which Thiel was one of return to the investors, for Bitcoin Mining use. The founder of Layer 1, Alexander Liegl, among others, informed by a Post on Twitter.
Hello, Bitcoin.https://crypto Monday.de/?r=https%3A%2F%2Ft.co%2FwNLHAvdyDu— Alexander Liegl (@alexanderliegl) October 15, 2019
Trading on our brokers comparison-winning eToro. You are looking for a reliable and intuitive Broker to trade crypto-currencies, CFDs, shares, Forex, commodities and more? Then let yourself be in our eToro Test in 2019 all of the features explain, what possibilities are given to you here and where is here the Before – and disadvantages are . eToro Test 2019 read now.
Bitcoin Mining on the particular type
Liegl would like to build the planned Mining Farm “in the middle of Nowhere” in the U.S. state of Texas. Layer 1 hopes to be able to all aspects of the Mining process, self-control. The chip production and advanced cooling techniques, in order to keep the System in the heat of the Texas summer on the Run.The Bitcoin Mining very much energy is required for the implementation of the arithmetic operations of the Computer processors. Again and again, therefore, there is a discussion about how harmful Bitcoin for the environment. The Crypto Startup would use its own power station, and Wind and solar energy use.
Bitcoin Mining with delusions of grandeur used to American
Alexander Liegl is apparently not a man that bakes small rolls. Usual American, he is an ambitious direction, to want the largest Bitcoin Mining facility in the world to build. So he said:
From an ideological point of view, Bitcoin needs to grow to be a Multi-trillion-potential for a US company to lead…. This ideology finds Peter(Thiel) and our other investors caught on.
Liegl believes that through the establishment of “Full-Stack”-Operated in West Texas Layer 1 in front of it is protected, that third-party provider of Mining-Hardware to increase the price for equipment, if the Bitcoin prices rise again.
More decentralization for Bitcoin Mining?
The Bitcoin network is known to be censorship-resistant and therefore accessible to everyone. So each may, of course, it would like to participate in the Mining. As just established in China, many Mining farms, there are always discussions to a strong centralization in Bitcoin Mining. So there are fears that it could lead to collusion between large groups of operators, which come from the same Nation.If Layer 1 carries out its ambitions in Texas, it will establish, in addition to the block team, as a large Mining operation in the West. Samson Mow, the Chief Strategy Officer at block stream, commenting on how ventures like his own, and the Layer 1, a greater decentralization of the Bitcoin network could promote:
There is definitely a possibility, some of the other companies ‘ market shares away.
So the planned Undertaking of Layer 1 could not only play the American Crypto-Fans in the cards, but also something positive for the stability of the Bitcoin network effect.
Would you like to place you in Bitcoin to market in time?
On the award-winning and award-winning platform from eToro you can do this! In particular, for beginners, the platform provides one of the best User experiences in the world. In addition, you can not only rising but also falling share prices!Just try it out and get in, instead of just reading!75 % of private CFD accounts lose money. No EU investor protection.What do you think of the Plan of Layer 1? Think more subtle dimensionality to the Bitcoin Mining will have a positive effect? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)