What prevents mining cartels from not selling all of the mined Bitcoin immediately and artificially rising the price?
Much like OPEC why would the mining cartels of Bitcoin not sell only a portion of their mined Bitcoin to artificially inflate the price and it value? Are there any signs showing this might be happening? Because it would be in their own rational self interest.
The current value of Dutch Central Bank gold is about $25 billion, so in order to buy 69k BTC (the mined Bitcoin eq… https://t.co/4BZxeKy3QD - Crypto Dynamic Info - Whales's
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survey: What's your mining cost and how much % of the mined Bitcoins do you sell monthly?
I'm extremely curious what's the average mining cost of 1 BTC with the current difficulty (not counting ROI) and how much % of the mined coins do you sell on average each month. I'm trying to estimate the price of Bitcoin :-) I know that's impossible to do that but I'm still very curious if the current market price significantly exceeds the "production cost".
21 inc says that the mined bitcoin from their Bitcoin computer "just provides continuous liquidity into the system." Can anyone explain what they mean by this? It does not seem to make any sense at all.
21 inc says that the mined bitcoin from their Bitcoin computer "just provides continuous liquidity into the system." Can anyone explain what they mean by this? It does not seem to make any sense at all. /r/Bitcoin
Does monero have any strict disadvantages versus bitcoin like transaction speeds/fees, mining centralization etc that are inherent to the technology?
Obviously it currently has higher transaction speeds due to a lower number of users, but as I understand it monero is bitcoin + a few anonimity modifications to the protocol. Do these modifications increase the computational power required for mining given the same transaction volume compared to bitcoin? In other words, how much are you paying for anonymity?
[HALVING MEGATHREAD] Block 630000 has been mined. Mining subsidy is now 6.25 BTC per block. The third Bitcoin Halving is now complete!
As of now, 630,000 blocks have been mined on the Bitcoin network, and the block reward has successfully halved for the secondTHIRD time. The previous block reward was 12.5 BTC, and the new block reward is now 6.25 BTC. Since the previous halving at Block 420000, monetary inflation decreased from 4.17%% to 3.57%. Block 630000 signals an immediate 50% reduction to 1.79%. The next halving will occur at Block 840000 in approximately four years. Godspeed, Bitcoin! Here's Block 630000 in all its glory!
More Comedy GODL in r/Bitcoin: "Finally got my father, a factory owner, into bitcoin mining and guess who’s getting all the money. Me. My idea my money \_😎_/" ... and proceeds to fight with r/Bitcoiners, calls them "bitch niggaz", and claims "Electricity is free in my country" 🤣🤣🤣
Bitcoin mining is done by private computers. The role of miners is to secure the network and process each Bitcoin . Miners do this by solving a calculation problem that allows them to assemble the transaction blocks (hence bitcoin's famous blockchain). Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. 4. Bitcoin Mining Pools. Mining is an extremely competitive game. Even if you buy the best possible miner out there, you’re still at a huge disadvantage compared to professional Bitcoin mining farms.That’s why mining pools came into existence.. The idea is simple – miners group together to form a “pool” so they can combine their mining power and compete more effectively. How Bitcoin Mining Works. Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team.
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