Wednesday, January 19

Bitcoin mining between active and inactive pools in this news week


A new week concludes in the busy Bitcoin mining business where the news between pools and regulatory laws set the tone. In this 67th edition of our classic mining summary, the penultimate of this year, we bring a brief summary of the 5 most important pieces of information.

Among these, the two sides of the coin stand out among Bitcoin mining pools. On the one hand bitcoin.com seems to be dying. For the other, Braiins pool owner Slushpool, expands offering job opportunities to people from Latin America. The firm intends to expand its operations in several countries of the subcontinent that present fertile soil for digital mining.

On the other hand, it highlights that the generation of bitcoins reached 90% of circulation of its total issuance. This means that between now and 2140, miners will have to distribute only 10% of the 21 million existing bitcoins. Such a fact guarantees the long-term appreciation of the most popular of digital currencies considering the accelerated expansion of the business.

These are the 5 news about Bitcoin mining this week

Like every week, CriptoTendencia presents you a summary of the 5 most important news among the dozens of information related to Bitcoin mining. It stands out that being a business on the rise and one of the most profitable in the world, this makes it one of the main generators of information. These are this week’s headlines:

  1. 90% of the bitcoins have already been mined.
  2. Miners’ income reaches $ 809 million so far in December.
  3. Paraguayan Senate approves bill on regulation of crypto mining.
  4. Braiins is looking for talent from Latin America to expand.
  5. What about the pool bitcoin.com?

90% of bitcoins have already been mined

The most important of the digital currencies in market capitalization, Bitcoin, reached a new record this week. Last Monday, the figure of 90% of the total generation of Bitcoin was reached. In other words, out of the total of 21 million existing coins, 18.89 million BTC has already been mined. These data were collected by CoinDesk.

The important aspect of all this is that the data corresponds to the term of time since the first BTC was mined. This happened on January 9, 2009. In this phase, the trend of appreciation of the price of the pioneer cryptocurrency makes sense. Thus, if there are only 21 million and in 12 years 90% was mined. By February 2140 when the last coin is mined, 120 years will have passed from now. In other words, in that period of time, 10% of the total supply will be mined in a business that continues to expand.

Over time, there will be 3000 or 4000 TH / s mining machines that will only mine a couple of satoshis. Also, by then, those coin fractions could be worth about the same as a BTC is currently worth. Although these lines could be classified as a bold speculation, the trend indicates that this is most likely.

Miners’ income reaches $ 809 million so far in December

The current falling price of Bitcoin and the increasing difficulty of mining, make mining this virtual currency less profitable. In this sense, the amount mined during December 1 and 17, expressed in US dollars, reaches $ 809 million. This equates to an average of $ 47.5 million a day collected by miners.

Although it is an important figure, it should be noted that it is notably lower than the one corresponding to the month of November. During the first 17 days of that month, the total mined was $ 1.032 billion in Bitcoin. This equates to more than $ 60.7 million a day. These data are taken from Blockchain.com.

This collection figure by miners is expected to continue to decline as more machines are incorporated. This raises the total hashrate and, in parallel, the difficulty. If to this is added the possible entry of the crypto market in a new winter, the probabilities that the profits will decrease considerably are high.

A likely downtrend in miners' income stands out among the biggest news about Bitcoin mining this week.  Source: Blockchain.com
A likely downtrend in miners’ income stands out among the biggest news about Bitcoin mining this week. Source: Blockchain.com

Paraguayan Senate approves bill on regulation of crypto mining

The Bitcoin mining business is among the most profitable in the world. For Latin America, there seems to be no exception to the rule. Consequently, one of the most attractive countries for the generation of bitcoins is Paraguay, due to its energy surpluses. It should be noted that that nation lacks solid industrialization and enormous electricity generating power.

Under these premises, international investments are necessary to use that energy. Thus, the most appropriate business to advance in this field seems to be mining. For this reason, the authorities of the South American nation work tirelessly to stimulate the use of digital currencies within its borders.

The most recent was the approval of a bill by the Senate to discuss the bases of the regulation of mining and crypto trading. Thus, for next year 2022, the Paraguayan legislative power will be in the process of debating and preparing the regulatory framework for this business based on Blockchain technology.

Braiins seeks talent from Latin America to expand

The company of Czech origin, Braiins, owner of the world’s oldest Bitcoin mining pool, Slushpoolannounced a new crusade. In this sense, the firm seeks the expansion of its mining businesses in the Latin American subcontinent. To do this, they are in the process of recruiting talents to work with her.

In this way, people who live in any of the Latin nations, will be able to apply for a position within Braiins. The options are varied and can be found in the official promo of the company. Among the attractive options for the company’s projects, countries such as Paraguay and Argentina stand out.

It should be noted that these nations are among the most promising destinations for mining after the ban in China. The low costs of energy and the friendly words of the governments, together with the political stability, especially in Paraguay, make them attractive destinations for a significant number of companies of this type.

What about the pool bitcoin.com?

Another of the notable news about Bitcoin mining pools, involves bitcon.com. This firm used to be a low-hash pool. However, their numbers have been looking pretty scrawny for a while. This company belongs to the investor Roger Ver.

To date, the pool accounts for approximately 254 days of inactivity. Hash power, although since 2016 it has always been moderate, now it has been declining rapidly. Another of the data that draws attention is that the hash of this pool has not been enough to be able to mine a block since last July of this year.

For their part, some Twitter users, highlighted in CryptoNews, point out that the pool does not support the creation of new accounts. All this suggests that this firm is about to disappear within the Darwinian race of the cryptocurrency market.



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