It’s no secret that Litecoin’s mining profitability has fallen dramatically over the past two years. One likely phenomenon is that we’ve seen a significant loss of Litecoin against traditional currencies and Bitcoin. As a result, many mining facilities find themselves struggling with Scrypt mining equipment, unplugged, rather than mining Litecoin
To thoroughly examine and understand what mining centralization is, we may need to explore some scenarios to be able to understand the risks, how it plays out, and of course, its implications. Mining Centralization Explained Some “experts” will argue that bitcoin is somehow centralized while others will maintain that it
To become a successful cryptocurrency miner, you need to minimize running costs. Operating in cooler climates and areas with low utility costs are some of the practical ways to reduce the expenses. It comes as no surprise that many large-scale mining operations are active in regions with cooler climates and
Cryptocurrencies such as Bitcoin used to be primarily farmed through individual computers using CPUs, then moved to GPUs. CPU stands for Central Processing Unit, whereas a GPU stands for Graphics Processing Unit. With the success of mining cryptocurrencies, there was a need to scale-up the operations from individual computers to
When Mark Twain was on tour visiting London in 1897, an American newspaper mistakenly published his obituary. Twain responded to a reporter’s question about this by saying, “The reports of my death are greatly exaggerated.” Something similar could be said about the fear of lower Bitcoin prices and the halving
Cryptocurrency mining or bitcoin mining, to be precise, is quickly changing from a hobby for early miners to a game of survival-for-the-fittest. As more people gain interest in mining, the industry has become more popular, and that’s how the business has grown. However, it is a love-hate kind of reaction
While Bitcoin mining can get a bit high-tech, you do not have to go science fiction to succeed. Terms like colocation might make it sound like that though. In reality, it just provides a way for you to store your equipment offsite, so you do not have to hear noisy
Bitcoin has grown by leaps and bounds during the past few years. Bitcoin uses a decentralized, distributed network to operate. This means that there is no central power when it comes to Bitcoin. The entire process runs using its own set of rules. It is these rules that determine how
So you heard the term hashing, but unless you have a background in computer science, you probably aren’t quite sure what that means. Let’s take a look at hashing in terms of cooking. When we hash something for example, like hash browns, we are chopping up potatoes and mixing them
Cryptocurrency can be overwhelming. Terms are thrown back and forth, making it difficult to understand the conversations. Many people invest without taking the time to understand the key terms. You can be more successful with Bitcoin and the entire cryptocurrency market when you’re more familiar with the terms used. We’ve
