Cryptocurrency

US$ 14 billion show – Breaking News

The Bitcoin has been a business quite profitable since its inception in 2009, the costs of energy and technology have been two points that have been on the table always and have dialed in a lot of cases the market indexes. This being so, technology companies have been at the forefront with the creation of miners who make a business very competitive, which has allowed the entry of large sums of money by mining Bitcoin. Recently, Yahoo Finance revealed that these revenue by mining Bitcoin already exceeded US$ 14 billion, based on the data of Coin Metrics. The evolution of the miners to obtain rewards has been gradual. From the start until a year ago approximately, the mining had reached only US$ 5 billion, since then until a few months ago they doubled that amount and we are already above the US$ 14 billion, so if the curve continues to rise -as is expected to do – possibly to the beginning of 2020 to break the mark of US$ 20 billion. These figures demonstrate that despite the fact that the hash rate has been increased by checking new records released today of 83.5 TH/s. This results in the computational capacity current used for the resolution of these mathematical problems and as well get your winnings. Many fans of Bitcoin have argued that the high cost of “mining” would result in a loss to the industry, but the numbers show otherwise. With a level of data processing so high clearly shows two things: the first is the interest in continuing to amassing Bitcoins through belief in the currency is cryptographic and the second in the eventual price rise is going to carry the shortage of coins available for mining, marketing and disposition. This behavior is not new, when shares on Wall Street fell and the entire global financial system collapsed, many small investors became rich by betting on those assets in which no-one believed it at the time as now happens with the Bitcoin. For the next year is expected the reduction to half of the profits with the halving that mathematically is already predicted. In this sense, the rewards will be halved, which is expected to help the recovery of the market and allow it to continue to increase the profits of the mining and the marketing of the coin. The following two tabs change content below. Advocate, enthusiast of new technologies, believing that Blockchain and Bitcoin will bring development to the mankind.

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About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.

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