Today's Hot Topics

How Renewable BTC Mining Is Helping The Planet

In a recent study published by CoinShares which estimates that renewable energy powers around 74 percent of Bitcoin mining operations. The paper also suggested that the flagship cryptocurrencies mining operations are commonly concentrated in areas where renewable energy sources are redundant. Miners are actually encouraged to do this because of the profit involved in it for long-term means. The use of renewable use of energy seems to be on the down from last year when just under 78 percent of miners were using such energy sources. The report states: “The renewables estimate is down from 77.8% in our November 2018...

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Samsung Delving into the World of Bitcoin Mining

It has just come to light that Samsung is designing and manufacturing chips for mining the leading cryptocurrency, Bitcoin. Last month, at the MicroBT M20 conference in China, the general manager for Samsung Foundries China revealed that the company had been designing and   2nm and 5nm chips for Bitcoin mining. Bitcoin Mining & Samsung According to some internal documents from the firm, Samsung has been fabricating these mining chips since the first quarter of last year! Samsung has publicly announced its strategic partnership with MicroBT, the third biggest designer of Bitcoin ASICs behind Bitmain and Canaan during the conference held...

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XMR: Could A Monero Hard Fork Lead To Unprofitable Mining?

Once again it seems that Monero has split through means of a hard fork to keep the ASIC miners off their back, who take over the network after a time and are seemingly disliked by the community surrounding Monero. Monero would prefer to be a CPU, at most a GPU coin, which is mined by the people who use it. In discussing Monero’s moves, Binance released a new report over the weekend.   The crypto exchange noted that there was some backlash related to permanently kicking ASIC miners off the network. For those that don’t know, here’s a quick summary...

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Will Miners Stick Around When All Bitcoins Have Been Mined?

One of the main features of Bitcoin is that it is limited to a supply of 21 million Bitcoins. This means that it is completely impossible to make more of the leading cryptocurrency, unlike fiat currency which can be printed. The limited supply of Bitcoin drives its value too. Although because Bitcoin is kept afloat by a network of miners who are compensated in block rewards, many people wonder what happens when all the Bitcoins have been mined. Just as we wonder what will happen when fossil fuels run out in fifty odd years, it is a scary thought for...

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Cryptocurrency And The Future Of The Environment

One of the biggest and perhaps most important criticisms of Bitcoin is that it harms the environment. The US Senate committee on Energy and Natural Resources released a document revealing that Bitcoin mining consumes nearly 1% of the globe’s electricity consumption. In an age where we’re more conscious of the environment than ever, this statistic can be a hard pill to swallow. Some lay-people who know little about cryptocurrency have gone so far as to use this as a criticism for all coins and tokens, however that would be inaccurate. Bitcoin does not consume so much electricity because it is...

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