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Allen Vaega
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Allen Vaega   My Press Releases

Mining Crypto - Pros and Con

Published on 2/13/2018
For additional information  Click Here

The world of crypto-currencies is a fast-growing industry. No gain in saying that this industry has passed the stage of being referred to as an emerging market, as it has grown to become a vast industry as well as the new face of the global financial markets. The current downturn we are facing in the start of 2018 is a 'bump in the road' for Crypto and should not be considered a major event. Although many will beg to differ claiming the beginning of a financial bubble, those who are familiar with Crypto-currency and its unregulated decentralized advantages already know that the Elite who currently hold 98% of the World's wealth and their underlings (Banks) will do whatever they can to maintain control. Manipulating the Markets are simply another means they have created to propagate fear and instability for those easily controlled and deeply conditioned by their media propaganda. The truth is, the Crypto-currency Markets like the Forex are based solely on speculation and have no real control of anything. It is a good example of a legalised scam!



It is a very competitive haven with a lot of investors interested in its huge financial advantages. For those who are involved in crypto-currencies, you will observe that there has been a continuous and steady surge in the value of crypto-currencies. The growth and rise of this market in less than two decades is one that has left a large number of persons fascinated, and yet some other group of people completely dumbfounded, bearing in mind how much it has impacted thus far.

The crypto-currency industry has in turn birthed crypto-mining, which is itself as lucrative an investment as directly dealing in crypto-currency. The crypto-mining market has continued to flourish over the years and has got a lot of people coming on board on a regular and daily basis.
Be that as it may, as would be expected of any economic venture, crypto-mining is faced with its own pros and cons, its ups and downs, its advantages and disadvantages.

HARDWARE:
An essential factor to be considered is the hardware for the crypto-mining process. Several factors must and should be taken into careful consideration as regards to the choice of hardware. The mining hardware is the most important component of the mining process.

In the world of crypto-mining, the use of computer Central Processing unit (CPU) is no longer in vogue. Technological advancements have kept us on a steady pace moving forward. The next stage of technological advancements brought us to the level and use of graphic Processing Units (GPUs). The GPUs perform 50 to 100 times faster than regular everyday computer CPUs. To be able to carry out mining processes, the GPUs must be very strong and durable.

In line with ever-evolving advancements over the technological terrain, we now use specialized crypto-mining hardware ASICs (Application Specific Integrated Circuits). The ASICs are very efficient. They have longer durability and afford the users a higher production level. Though it is still possible to mine without the specialized software, it must be noted that this will cause lower proceeds and higher expense rates for the crypto-investor/miner. To go into bitcoin mining on a large economic scale, one needs to use specialized hardware and be well funded. This will ensure more effective mining and more earnings on the coins and mining shares.

POWER:
Electric power consumption is another factor that must be considered meticulously. A high amount of electric power goes into the process of crypto-mining. Electricity is a sine qua non for crypto-mining, as without it, the hardware amounts to nothing but pieces of furniture. A choice of hardware will be directly affected by the efficiency of conversion of the most amount of electricity into crypto-currency production vis-a-vis crypto-mining. Depending on the Mining hardware, the electricity Bill per month can be huge. 

COMPETITION:
Crypto-mining is becoming more difficult as the competition increases at a geometric progression. The higher the demand for crypto-currencies, the higher the demand for mining and in the same vein, the higher the interest and difficulty posed to mining. There is no gain reiterating that this increase in difficulty over crypto-mining directly amounts to increase in the value of the crypto-currency.

LIMITATION:
The amount of crypto-currency one can mine is limited, in the same way as the European Central Bank (ECB) has limited capacity on printing the Euro bills or any other National Bank over printing her home currency. Note: the Federal Banks (owned and controlled by 5 families) have been printing money for Centuries, and they will do all they can to keep it that way. Those who buy Crypto-Mining rigs are basically creating money, and because Crypto is not yet regulated and decentralized, it makes it a formidable challenge for them to reign in, but you can be assured they will do their best to rectify this issue.

NETWORK DIFFICULTY:
Network connectivity can pose a very herculean cum uphill task which if not handled correctly and effectively, it can become insurmountable. The network connectivity goes a long way to determine how hard and how timely it is to solve transaction blocks. The indices continue to grow in direct proportion to the network hash rate vis-a-vis the functionality of the hardware. This is likely to increase with new ASIC devices coming on the market. As we know, advancements in the fields of technology are endless.

If you are looking to cash in on the mining business, your best bet is to get the amazing one-of-a-kind Mini-Miner that comes with a super-computer chip and is CPU - GPU combination that allows it to mine approximately 40 crypto-currencies quite efficiently. It expends very little power (approx. $2-$5 worth per month) and is the same size as a Mobile phone. It is the latest technology in Mining and produces far more coins than most. To understand the magic of this machine, you will have to view it yourself. Start here!

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