Are you curious about the potential of [Cryptogrind](https://crypto-grind.com/) and its workings?

Cryptogrind is an easy and secure platform, helping users to find freelance services or pay for jobs using [Bitcoin](/coins/btc).
Almost everyone knows the potential freelancing carries for us, especially in the post-Covid era. The days are long over when it was considered only a $5 job. There's even the possibility of earning in crypto while doing freelance projects.

As a freelancer, the idea of Bitcoin freelancing can be quite lucrative. But, how do you land clients ready to pay you in Bitcoin?
A relatively easy option for you to find crypto-minded employers and freelancers in one place is Cryptogrind. It is a platform where you can offer your services to earn in Bitcoin. So, if you're wondering how it works and whether it's legitimate or not, here's a thorough Cryptogrind review!

## What does Cryptogrind do?

It is a freelancing platform, just like Fiverr or Upwork, but it deals in Bitcoin only. You can join it either as an employer or a freelancer to get services or get paid in Bitcoin. Users can offer any freelance services and can find jobs for it. This crypto jobs board covers all major domains like - digital marketing, graphic designing, writing, web designing, videography, and more.

Cryptogrind is an easy-to-navigate site with an intuitive interface. You can enter its directory and post or apply for jobs according to your skills. Besides, it provides a secure path for payments through Escrow. If you are a freelancer, you can enjoy its services for free. But, as a recruiter, you might have to pay a small amount for posting each job.

## Prominent features of Cryptogrind

The platform offers various features that will help you in your freelancing journey. And if you're an employer, finding resources would be a straightforward task for you on this platform. Here why you should consider giving it a try:

1.   Expanding jobs and freelancers directory
The platform offers you an expanding directory of both jobs and freelancers. It allows employers to post as many jobs as they want in a number of domains. And freelancers can register themselves for as many services as they like.
2.   Intuitive interface
Its user interface is quite user-friendly, meaning there's no necessity to be tech-savvy to work on this platform. And if you face any technical issue or payment disputes, its 24/7 customer support can help you resolve such concerns.
3.   Payments in Bitcoin
A unique feature of this platform is that all the payments here will be in Bitcoin. You will be able to secure jobs that pay you in Bitcoin and can get services by paying in Bitcoin. 
4.   Escrow secure transactions
The platform performs the role of an escrow between the employer and the freelancer. It allows transparent transactions by ensuring freelancers render services as per the agreement. It also assures that employers pay freelancers the agreed amount for their services.
The platform also has a multi-signature feature. This feature allows it to access the Bitcoin blockchain for payments. That’s why you won’t need to manage a hot wallet to keep your money secure.   
5.   Referral bonuses
Cryptogrind provides an extra earning opportunity through its referral program. If you introduce the platform to others, you might earn a 2% commission for each individual who starts using it.

## Is Cryptogrind still operating?

Unfortunately, Cryptogrind isn’t operating currently. According to its official Twitter account, the platform is going through some maintenance. There is no information about the measures the company is taking right now. There’s no specified time for its relaunch.

The platform has been working since 2014, but in 2021, it halted all its operations. It’s the main reason that has raised many questions about its legitimacy. People have lost trust in the ecosystem. Thus, many have moved towards Cryptogrind alternatives for consistent Bitcoin freelancing.

## Final thoughts: Is Cryptogrind legit?

Cryptogrind is one of the earliest names in Bitcoin freelancing. It has been in the business since 2014 and was a popular choice for both recruiters and freelancers. It offered a variety of features that helped in promoting Bitcoin freelancing. The platform enabled freelancers to create profiles and earn Bitcoin.

But, the platform has stopped its operations since 2021 for maintenance purposes. This made some people skeptical about its legitimacy. Nevertheless, many recruiters and freelancers have benefited from this platform. The security it ensures for transactions is another reason to trust the ecosystem. That’s why if it becomes functional again, it can be an excellent platform for Bitcoin freelancing.


Cryptogrind: Bitcoin Freelancing

According to Gary Gensler, the United States Securities and Exchange Commission (SEC) chairman, Bitcoin is a commodity. In a recent interview with CNBC, he elaborated on the SEC's plans to collaborate with the Commodity Futures Trading Commission (CFTC) and banking regulators in order to oversee the crypto sector.

In an [interview](https://www.cnbc.com/video/2022/06/27/sec-chair-gary-gensler-discusses-potential-crypto-regulation-and-stablecoins.html?&qsearchterm=gary%20gensler) with Mad Money presenter Jim Cramer on CNBC on Monday, SEC Chairman Gary Gensler reiterated his views on cryptocurrencies, namely Bitcoin (BTC).

The SEC head, stated that while several crypto-financial assets like Ethereum (ETH), [Dogecoin](https://www.monitalks.io/news/article/elon-musk-dogecoin), etc. contain the essential characteristics of securities, Bitcoin is the "only one" he feels confident officially classifying as a commodity:

"Some, like Bitcoin — and that's the only one I'm going to say because I'm not going to talk about any one of these tokens, but my predecessors and others have said Bitcoin is a commodity."

## Crypto community reaction to SEC chair interview

The crypto community raised questions about the statement's influence on Grayscales' proposed Bitcoin exchange-traded fund (ETF), and the omission ETH as a commodity was questioned.

The comments sparked discussion over Grayscale's proposal to turn its Bitcoin Trust into a spot-based ETF, which is anticipated to get a yes-or-no answer from the SEC on July 6.

Even though the regulator and the Commodity Futures Trading Commission (CTFC) earlier concurred that Ethereum (ETH) was a commodity exactly like BTC, Gensler chose not to specify whether he placed ETH in the same commodities boat. This was picked up on Twitter.

The prices of digital assets like Bitcoin and Ethereum have plummeted sharply in recent weeks, though they have lately shown signs of stabilization.

Bitcoin has decreased by around 60% over the last six months, but it has increased by roughly 1% in the past week.





SEC crypto chronicles- Gary Gensler affirms BTC as commodity

The volume of internet searches for 'bitcoin scam instagram' has rocketed following incidents of accounts on the Meta platform being hacked.
[The Identity Theft Resource Centre (ITRC)](https://www.idtheftcenter.org/) reported a significant increase in victims of Instagram account takeovers linked to Bitcoin scams since October 2021.

According to ITRC findings, fraudsters construct Instagram posts regarding Bitcoin investments to entice other users. When a user clicks on the link, their money is gone, and their Instagram credentials are compromised.
The victim's Instagram account is then locked, and the account is utilised to post further links to phoney [Bitcoin](/coins/btc) investments.
This is what has sparked the rise in searches for 'bitcoin scam instagram' on Google.

You should never disclose your Instagram account passwords to anybody else. Use a strong password and two-factor authentication to secure your account. If an Instagram post appears too good to be true, it most often is.

Bitcoin Instagram scams and hacked Bitcoin Instagram accounts have been around for a long time. However, the ITRC is witnessing a considerable increase in victim queries concerning hijacked Instagram accounts. The Centre says it is now receiving four times as many reports each month than it has previously.

This heightened awareness is mirrored in the increased online interest in 'bitcoin scam instagram' searches.
According to the ITRC, fraudsters impersonate people their victims know to get personal information. Some victims are discovering that their Instagram accounts have been locked and that fraudsters are posting things in the hopes of defrauding others.

Some victims have complained that even if they did not submit their information to a scammer, they still had a hacked account or account takeover. While it appears that users are being targeted in numerous ways to get login information, their account information may also have been accessed using information from breaches, including Facebook login information, especially if the username and password were never updated.

The ITRC has also seen victims have their accounts faked using their public photos. Cybercriminals then track the victims and send them communications containing a scam or harmful link.

There are steps you can take to protect yourself:

•	Never give out your password or any other sensitive information to anybody
•	Make sure your password is difficult to guess
•	 On your account, enable two-factor authentication (2FA). Go to "Settings," "Security," and then "Two-Factor Authentication" to enable 2FA on Instagram. Tap "Get Started," then either "Authentication App" or "Text Message." Because SMS messages can be faked, the ITRC suggests using an authentication app
•	Check that the email address linked with the account is safe. It is also a good idea to use 2FA to safeguard your email
•	Third-party apps should not be downloaded through a social networking platform. Download software only from Apple, Google, and Microsoft's official app stores

You can contact the ITRC to learn more about stolen Instagram accounts and what you can do to secure the information that a fraudster may have access to.

Bitcoin Scam Instagram: Why this Phrase Matters

Is [Bitcoin Prime](https://bitcoinprimeapp.com/) scam or legit? That's the question investors have been asking after promises of huge returns for little work.
Bitcoin Prime is a trading bot that employs sophisticated artificial intelligence (AI) algorithms to make automatic trades on your behalf. It has a claimed 90%winning rate, per its official website, and the software is completely free to use.

All you have to do is to pay a small fee in commission only when you win. Due to the controversies such as scams and hacks miring the crypto finance market, many people ask, is Bitcoin Prime worth your time and money?
This article looks at all the essential details you need to know about this crypto trading robot.

## What is Bitcoin Prime?

Bitcoin Prime is reputed to be a cryptocurrency trading service that detects trading opportunities in the cryptocurrency markets. Once profitable setups are found, Bitcoin Prime automatically places trades on your behalf.

Because it markets itself under its AI algorithm, its success largely depends on it. Although it has been difficult for software engineers to identify the details of Bitcoin Prime's algorithm, many experts believe it sources data from technical analysis patterns that several day traders use to make money.
Despite being accessible to everyone with internet access, you need $250 as an initial deposit before you make real profits using Bitcoin Prime.
The platform’s revenue comes from charging a 2% commission on profitable trades.

You should note that you would not be subject to commission fees if your account does not turn profits.

## How Does Bitcoin Prime Work?

Despite the phrase 'Bitcoin Prime scam' trending online, it appears to be a legitimate project, and this is how it works.
The crypto trading robot tracks the price movements of 14 different digital assets. They are Binance Coin (BNB), Ripple (XRP), NEO, EOS, Miota (IOTA), Cardano (ADA), Ethereum Classic (ETC), DASH, Zcash (ZEC), Bitcoin Gold (BTG), Bitcoin Cash (BCH), and [Bitcoin (BTC)](/coins/btc).

Once the algorithm detects a price pattern in any of the aforementioned assets, a trade will be triggered.
An order will be entered into your account, which will be monitored, and the position will be closed once the trade expires.
Once done, your funds and any profits will be returned to your account.

Like certain exchanges, such as eToro, Bitcoin Prime provides a demo account. This helps you familiarise yourself with its AI algorithm.
Bitcoin Prime does not store your funds in their wallet. For the purposes of credibility, funds are held in the accounts of a third-party broker. As a result, while Bitcoin Prime can issue orders for the execution of trades, it does not have access to your funds.
You can withdraw funds within a few hours if you are not satisfied with your trading activity.

## Pros and Cons of Bitcoin Prime? 

While the crypto robot offers a unique innovation that has made trading highly volatile assets such as cryptocurrencies easy, it is not a perfect system.
One of the pros of Bitcoin Prime is that it lists several cryptocurrencies for trading. Also, it does not take a huge part of potential profits. A 2% commission fee is relatively lower than some of the fees charged on certain cryptocurrency exchanges.

What’s more, Bitcoin Prime’s association with third-party brokers in executing contract-for-differences (CFDs) shows a commitment to staying up to speed with the space.
The trading service's demo account converts novices to experts, resulting in rave reviews by past and active users of the platform.
With that said, Bitcoin Prime does not offer a mobile application. One of the pros of cryptocurrency exchanges is their accessibility on smart devices powered by Android and iOS. This has made it easy for traders to buy and sell cryptocurrencies.

Aside from that, the minimum deposit for being a customer of the trading service is $250. Several cryptocurrency exchanges have minimum deposits that range from $1 to about $50.

Bitcoin Prime's deposit requirement is five, 10, 15, or even 20 times that of some.

When it comes to answering the questions 'Bitcoin Prime Scam or Legit?' you should conduct your own research.
 
 


Bitcoin Prime - Scam or Legit?

It is alt season crypto time, when cryptocurrency investors look to diversify portfolios with altcoin buys.
Bitcoin may get all the headlines, but there are plenty of other coins out there - alternative coins or 'altcoins' - for alt season crypto investing.
Here are considerations when you think about diversifying your crypto portfolio into altcoins.

## Investing in altcoins

[Investing in altcoins](https://solberginvest.com/blog/invest-in-altcoins/#:~:text=The%20Best%20Way%20to%20Invest%20in%20Altcoins%20for,Decide%20where%20you%20want%20to%20buy%20the%20altcoin.) is a great way to diversify your portfolio while still gaining exposure to Bitcoin. While Bitcoin is the dominant coin in the crypto market, altcoins have much less liquidity than Bitcoin.
Therefore, smaller traders can have a larger impact on their direction. Also, you can ride a wave of early investment when an altcoin project is just getting started.

New exchange listings, product releases, partnerships, and tech developments can also drive up the price of an altcoin.
Some consider investing in Bitcoin the safest option because altcoins can have volatile and erratic values. Because altcoins are new to investors, you'll want to do your homework to avoid being scammed or losing money.

## Researching altcoins

Before investing in altcoins, it is necessary to do your research. First, you should analyse the project's feasibility and possible exit scams. Make a mistake and you may end up losing substantial amounts.
Also, you should not invest in altcoins just for the sake of stacking them.

Fundamental analysis: While fundamental analysis requires technical knowledge of crypto and blockchain, it can give you a good idea of what a certain altcoin is worth. This type of analysis looks at the underlying story of a cryptocurrency and its management team.
In addition, it may include factors like competition, tokenomics, and partners. Ultimately, it will help you decide whether a particular altcoin is worth investing in or not.

## Alt Season Crypto Investing

When it comes to investing in altcoins, it's important to diversify your portfolio to minimise your risk of total investment loss.
Investing in one altcoin alone will not protect you from complete loss. It is best to spread your capital across several altcoin projects, as the price of one can spike. Investing in crypto during altcoin season can be a lucrative opportunity, but you should be prepared to sell to realise potential profits.
The reason why investing in altcoins is such a good idea is because these currencies are experiencing a period of extreme volatility. The biggest contributor to this volatility is the emergence of smart contracts and the DeFi boom.

Altcoins have seen significant growth in previous years, but with the way the markets are right now, there is a risk of substantial losses or reduced growth at the very least.
The general rule is that the best time to invest in altcoins is before they reach a major price peak.

## Investing in altcoins to diversify a portfolio

Investing in more than one cryptocurrency is a good way to diversify your portfolio. You can choose a different crypto every time you see a good price and invest a portion of your money in that asset.
To get started, you can invest in several different cryptocurrency projects and choose a handful that has a good reputation.
To diversify your portfolio, you can invest in stablecoins pegged to traditional assets. These coins are often used as a hedge against market volatility. There are other ways to diversify your portfolio, too.

One way is by regional diversification. This means investing in various crypto projects around the world.
Time diversification is another option. In this case, you can invest in several different coins over a long period, or dollar-cost averaging.

## Investing in altcoins to increase [Bitcoin](/coins/btc) holdings

There are many reasons to invest in altcoins. Unlike Bitcoin, these currencies are not intended to be traded for a profit. They are designed to solve various issues that make Bitcoin unsuitable as an investment vehicle.

Experts agree that crypto is here to stay. Indeed, the Biden administration has emphasised the need to regulate this industry.
Moreover, blockchain technology continues to hold massive potential in various industries.

Before investing in any digital currency, do your research. It is crucial to understand the risks and rewards associated with each altcoin.
Some may be scams or are simply not as trustworthy as Bitcoin. If you're not sure about the risks involved in an altcoin, read a white paper or consult with a financial advisor. This way, you'll know which cryptocurrencies will increase in value and which ones will only decrease in value.


Alt Season Crypto Investments

This is the wake-up call the bitcoin market has been waiting for. The next few hours will reveal if this is enough to stabilise the price, but there are still many uncertainties surrounding the financial viability of many crypto projects and businesses.
 
On June 19, one of the world's most influential people, Elon Musk, CEO of Tesla Inc., publicly supported the cryptocurrency business and the meme coin [Dogecoin](/coins/doge) in particular. On June 19, Elon Musk tweeted to his almost 99 million followers, "I will continue to support Dogecoin."
After that, a user on an exchange told Musk that if he truly supported Dogecoin, he should buy it. When asked if he was buying the dip, Musk replied, "I am."

## Prices are on the rise again

In the wake of his tweet, the cryptocurrency market saw an immediate surge in trust in cryptocurrencies and a flurry of inquiries regarding the long-term viability of numerous projects and businesses.

Data firm [CoinGecko](https://www.coingecko.com/) reports that Dogecoin, which was trading at $0.052307 per minute before Musk's post, is now trading at $0.058037 per minute, an 8 percent increase. They were followed closely by other coins' values. At $19,735.89 as of this writing, Bitcoin is up 4.4 percent in the last hour, making it the most popular cryptocurrency.

Shortly before Elon Musk's tweet, Bitcoin had fallen to a low of $17,677.43 before rising to a high of $18,290.75. Market capitalization leader Ether has gained 6.5% in the last hour to $1,058.60. Last week, Ethereum's native token was trading at $881, its lowest since 2021.
Just over 55% of the crypto market value is held by Ether and Bitcoin, and this fluctuates based on pricing. In the last hour, the total cryptocurrency market value increased by 3.7% to $972 billion.

After a spate of losses, crypto investors appear to be taking a break. Bitcoin's value has dropped by 30.1 percent, while Ethereum's value has dropped by 30.8 percent in the last seven days. 

 


Elon Musk claims to be buying the Bitcoin dip

Celsius Network Ltd, one of the major crypto lenders and main players in the world of decentralised finance, confirmed late Sunday that it was [halting withdrawals, swaps, and transfers](https://markets.businessinsider.com/news/currencies/celsius-price-crash-crypto-market-outlook-bitcoin-ethereum-terra-luna-2022-6#:~:text=Crypto%20lender%20Celsius%20has%20frozen%20all%20withdrawals%2C%20swaps,month%20after%20Terra%27s%20luna%20cryptocurrency%20crashed%20to%20zero.) after weeks of speculation about its ability to make good on the increasingly large returns it offered on certain of its products, including yields as high as 17%.

Crypto loan solutions have grown in popularity, with numerous firms launching offerings in the past year. Celsius raised $750 million in the capital last year from investors including Caisse de Dépôt et Placement du Québec, Canada's second-largest pension fund. Celsius was priced at $3.25 billion at the time. Celsius has $11.8 billion in assets as of May 17, a drop of more than half from October.

The decision to stop withdrawals effectively halted a platform with registered entities all over the world and billions of dollars in digital coins under management, ramping up a selloff in the broader market that was already underway due to concerns about the possibilities of tightening monetary policy ahead of a Federal Reserve meeting this week.

While Celsius crypto is a centralised platform with operations and staff that distinguishes it from DeFi, its deep involvement in the space, including investment in Terra and various risky strategies devised to earn high yields that it can then pass on to its users, has raised concerns about its viability.

Celsius crypto is a key player in the market for digital yield products, letting users lend out their tokens as collateral for other crypto initiatives. Traders were able to earn yearly rates of up to 17% in exchange for lending their tokens.

Celsius's crypto withdrawal ban early Monday was a U-turn after the company had spent many days denying claims that consumers couldn't make withdrawals. At the weekend, CEO Alex Mashinsky challenged sceptics to find "even one individual who has an issue withdrawing. Celsius crypto stated that the redemption freeze was implemented for the benefit of our entire community to control liquidity and operations while we take steps to preserve and safeguard assets.

The Celsius crypto move spurred a collapse across cryptocurrencies, with their value falling below $1 trillion on Monday for the first time since January 2021, raising concerns that the meltdown might spread to other assets or firms.

## Bitcoin Crashes

Following Celsius's crypto statement, [bitcoin fell to an 18-month low of $22,725](/news/article/bitcoin-price-crash-celsius) before modestly rebounding to about $23,265. The second-largest cryptocurrency in terms of market capitalisation Ethereum fell as much as 18% to $1,176, its lowest since January 2021. Companies with a stake in cryptocurrencies have previously warned that drops in token values might have repercussions, such as triggering margin calls.

Markets continued to fall on Monday following the release of U.S. inflation figures on Friday, which revealed the highest price increase since 1981, prompting investors to bolster their bets on Federal Reserve rate hikes. According to research, Celsius’s crypto token has dropped 97 per cent in the last year, from $7 to about 20 cents.


Investors Panic as Celsius Crypto Freezes Crypto Withdrawals 

If you have ever wondered how to mine Bitcoin Cash and how long it takes to mine one [BCH, ]https://bitcoincash.org/) this article is for you.
Before blockchain, money transactions were primarily regulated by two bodies: the government-regulated central banks that print the new cash and regular banks that were involved in money transactions on your behalf. Acting as regulatory bodies, they had complete power over your transactions and money.

The Bitcoin blockchain and its native cryptocurrency [BTC](/coins/btc) were created with the concept that a person should have complete control of the money and transactions they make, and that no other authority or regulatory body should have control of the funds.
Mining is the method by which transactions are verified.

Miners have complete documents of ledgers which they update in sets called blocks. These blocks are then added to the network for other miners to update their ledgers.

The blocks are made by cracking cryptographic problems using computing power, a digital equivalent of the physical effort to mine valuable resources, hence the term miners.

Bitcoin miners receive Bitcoin tokens as rewards.
In August 2017, a fork on the Bitcoin blockchain led to the creation of Bitcoin Cash (BCH). It improved scalability and allowed more transactions to be processed by increasing block size.

## How to Mine Bitcoin Cash and How Long it Takes

In broad terms, crypto miners take 10 minutes to mine one block of Bitcoin Cash. To maintain the 10-minute speed to solve the complex mathematical query, the difficulty level of the problems alters automatically.
When more miners and more computing power endeavour to mine, the difficulty level increases, whereas, when there are fewer miners and less computing power, the difficulty level decreases.

## Requirements to Mine Bitcoin Cash

Mining is similar to any other business engagement, where profitability relies on several factors unique to that venture. In Bitcoin Cash mining, these factors represent the requirements you should have before starting the bitcoin cash mining, including the type of hardware and software to pick. Here is what you should know:

### Hardware for Bitcoin Cash

Picking the right hardware is critical whenever you want to mine cryptocurrency. Today, an ASIC miner is what you require to get the hash rate needed to mine BCH. You need to remember that hardware is the major initial investment cost. The price of the ASIC miners has increased, seeing the power it supplies to the mining activity. A new AISC hardware costs anywhere from $2,000 to over $7,000, with older models available at lower costs.
So, when evaluating an ASIC miner, pay attention to the price, which is relative to three other factors:

•	Hashing/Computing power (in hashes/second)

•	Power consumption

•	Efficiency

Hashing power is the count of hashes a hardware machine can generate while solving a block. It's calculated per second, and the higher the figure, the more effective the machine and the more pricey.

Power consumption is related to the electricity (energy) required to run the miner optimally. It is measured in kilowatt-hours and can affect profit if too high. That's when you review the third factor, efficiency.

An ASIC miner is needed, and one with a high hash rate. However, it should not lead to too much power wastage.
Efficiency: This factor reveals how much power must be used to get a single BCH coin. An effective and powerful machine consumes less electricity than others when mining Bitcoin Cash.

If you have chosen your hardware machine, it's worth checking the other related requirements:

•	Electricity: cheap and stable is best. Having a backup is perfect.

•	Internet connectivity: 24/7 internet connection- an inconsistent connection will smash your chances of success.

## Software Requirements

Software is another critical requirement you must consider to look at as you opt to mine Bitcoin Cash. Mining software connects with your hardware machine to process the mining. It will deliver an interface for linking with the network to monitor the process and check profits.

You can get mining software applications for mobile and desktop use.

## Which Software Do People Prefer to Use to Mine Bitcoin Cash?

There are multiple software applications you can pick from to mine Bitcoin Cash. However, the two most widely used in the industry today are CGminer and BFGminer.
Both are command-line programs, which implies you can operate on the interface to get more into the mining process. Don't worry if you find the command-line interface (CLI) a little complex; EasyMiner is a great option that offers computerised functionality and sustains both self-mining (solo) and pool mining.
Note: Most ASIC miners are available with pre-installed software. If it's not, perform research to find one compatible with your hardware.

## Technical knowledge required to mine Bitcoin Cash

Before starting your Bitcoin Cash Mining journey, one of the basic requirements is understanding the technical terms connected with the mining process.

•	Consensus algorithm: 

It is a blockchain technology mechanism that permits agreement between a distributed network of users or machines. For example, a Proof of Work consensus algorithm lets miners agree on verifying blocks before they are updated to the blockchain.

•	Blockchain: 

It is a distributed ledger of all the trades on the network, managed in data blocks that are validated every 10 minutes. Miners get rewarded when they secure the network by updating a verified block to the blockchain.

•	Block time: 

This is a time estimate coded in the protocol: how much time miners take to validate blocks and update them to a distributed ledger. Bitcoin Cash has a block time limit of 10 minutes.

•	Hash rate: 

The measure of hashing power required to crack a complex puzzle and validate a block of trades. It's also called computing power and is calculated in hashes per second. The more per second hashes a machine produces, the more effective it is and the higher its probabilities of finding a block.

•	Mining difficulty: 

This is to calculate and find how difficult it is for a miner to find a new Bitcoin Cash block. It's also called a difficulty adjustment algorithm (DAA) and corresponds to the hashing power a miner requires to mine a single block within the calculated block time. For Bitcoin, the difficulty alters every 2016 block, while BCH introduced an Emergency Difficult Adjustment (EDA) algorithm in November 2017. The latter also leverages a retarget of the last 144 blocks to alter the difficulty.

•	Mining fees: 

A miner fee is a small amount of money users link to the blockchain trade to incentivise miners to process their trades. This amount is in addition to the 6.25 BCH in the block reward.

•	Block rewards: 

This is a reward given to a miner(s) who cracks the complex mathematical cryptographic puzzle on the network. For miners, Bitcoin Cash offers a block reward of 6.25 BCH.

## Pros and Cons of mining Bitcoin Cash

Mining Bitcoin Cash includes both pros and cons aspects. Let's see the pros and cons:

### Pros

1.	Block rewards can be very fruitful and profitable, and as a miner, you can earn good money.
 
2.	The transaction fees also complement rewards for successfully mining. 

3.	A good mining pool selection can raise your chances of block rewards.

4.	Your mining endeavours secure the Bitcoin Cash network.

5.	Old ASIC hardware can still be traded second-hand, as the market exists for other networks.

### Cons

1.	A high hash rate implies you may experience losses if you can't compete.

2.	ASICs need a heavy energy supply, resulting in a high electricity bill.

3.	Pools can reduce your reward as it is distributed among members.

## Is Bitcoin Cash Mining Profitable?

### To determine how beneficial it is to mine BCH, you must consider the factors mentioned below.

•	Hashing power

•	Power consumption

•	Cost of electricity

•	Pool fee

•	Bitcoin Cash price

You can decide if mining Bitcoin Cash will be profitable when you consider the hardware machine's computing power (output in Terahashes per second (TH/s) or Gigahashes per second (GH/s)). Another notable factor is the amount of power the hardware will consume and the expense of electricity per kilowatt-hour (kWh).


How to Mine Bitcoin Cash (BHC) 

What amount of energy does the Luna crypto consume during transactions? There are concerns about [Luna](https://coinmarketcap.com/currencies/terra-luna/) crypto's sustainability; how safe is the coin? A sustainable coin is friendly to its environment. Read on to know more about the Luna crypto. 

Terra Luna is one of the largest cryptocurrencies in the crypto market, meaning that many transactions are made on it. So the big question is, how environmentally friendly is the Luna crypto? Concerns about the sustainability of this cryptocurrency are gradually coming up. A coin this large should be a sustainable coin or at least work towards achieving it. 

To understand this article fully, you need to know what sustainability in cryptocurrency means. So here’s a brief definition of what a sustainable cryptocurrency means. 

## Understanding what sustainable coin means

Sustainability in cryptocurrency refers to a sustainable coin with less carbon footprint and low energy-consuming transactions. 
The carbon footprint has a terrible impact on the environment. Some of these effects are its negative contributions to urban air pollution, climate change caused by humans, acid rain, and more. This is really bad, right?

I have a friend who believes that everything in life has two sides: the good and the bad. It looks like his theory applies to cryptocurrencies. Cryptocurrency has made many people millionaires, but it has also harmed the environment greatly. But in the case of sustainability, not all coins are bad; some of the coins are sustainable, meaning they are less harmful to their environment. So is Luna crypto one of the good coins?

## What is Luna?

Luna is a native token of the Terra network. It was created with a stable coin known as UST, the most popular stable coin currently. 
Terra Money white paper (Terra Money): Stability and Adoption was published in April 2019, and it posits that:
While many see the benefits of a price-stable cryptocurrency that combines the best of both fiat and Bitcoin, few have a clear plan to adopt such a currency.

“Since the value of a currency as a medium of exchange is mainly driven by its network effects, a successful new digital currency needs to maximise adoption in order to become useful. We propose a cryptocurrency, Terra, which is both price-stable and growth-driven.”
According to Terra’s white paper, the reason for creating Luna was to carry out what Bitcoin was initially going for, a peer-to-peer electronic cash system. 

## Understanding Luna

Terra Luna has really gone a long way, considering where it started from, hence my reason for initially calling it one of the largest cryptocurrencies in the crypto market. The Luna crypto was initially known for ensuring that stablecoins remain stable. However, it is now part of the most potential coins in the crypto space while still helping to maintain the stablecoins.

2021 was a stepping stone for Terra Luna. It started the year with less than a dollar price and ended it with about $89. On March 9, 2022, Luna reached an all-time high of $104.58. 

The more popular a coin gets, the more people want to know about them. The awareness for crypto sustainability became stronger when Elon Musk announced, in 2021, that due to Bitcoin’s detrimental environmental impact, making payments to Tesla with Bitcoin would be stopped. This led people to start questioning the sustainability of other notable coins, like the Luna crypto. 

Sustainability is a delicate matter and one that comes to light at every slight opportunity, considering how important it is to the world at large.
Is the Luna crypto Eco-friendly?

On the Terra network, validators verify transactions based on the number of coins they hold, meaning that the network uses a proof of stake model. The use of this model consumes less energy than other models, and this makes the Luna crypto eco-friendly.
The Proof of Work (PoW) model is more energy-consuming than the Proof of Stake (POS) model. The PoW model can only be run on high-tech computers that can solve complex algorithms to convert the bundle into a block and add it to the blockchain. This requires a lot of energy. 

Notable organisations are now rejecting non-eco-friendly cryptocurrencies, and Luna remains relevant due to its safe nature. 
The most non-eco-friendly cryptocurrencies are those that require mining. Mining requires a lot of energy which leads to a high level of carbon footprint. Examples of mined cryptocurrencies are Bitcoin and [Litecoin](/coins/ltc). Terra Luna is not a mine, meaning there is no use for the PoW model as it consumes so much energy. 

## Does Terra Luna make any impact in society?

Cryptocurrency is a free space without regulation. No higher powers are guiding the different crypto companies, and neither is the government involved. Some cryptocurrency companies take advantage of the lack of regulation and act as they please, mostly unethical, while some believe in morals and high positive standards. The Luna crypto team is part of those with good moral standards. 

Terra Luna gives back to back to society. Firstly the fact that they use PoS rather than PoW. PoS does not just use less energy during the transaction. This helps conserve energy and save a lot of money and time for the investors. Operating a high-level tech computer requires a significant amount, but the case is entirely different with Terra Luna.

## What Makes Terra stand out?

Terra is an independent PoS model blockchain, unlike some blockchain networks. Terra Luna is a Layer-1 blockchain, and it comes with lots of benefits.

Terra Luna offers a strong foundation for the growth of stable coins. It also serves as a secure and safe mode of structured payment or for creating a blockchain contract.

A Recap of What Makes Luna Crypto Sustainable
The Luna crypto is a sustainable coin, and it is surely friendly. Why do I say this?
1.	Energy Consumption: Terra Luna uses the power of the stacking POS model, meaning it consumes less energy. Carbon Footprint: Terra Luna crypto uses a few hundred machines to power the Terra network. Although it still produces a carbon footprint but not so much and not as much as most cryptocurrencies.
2.	Eco initiatives: Terra Luna has a foundation created to help impact positively in their environment. 
Generally, cryptocurrencies have impacted the world at large, some in a positive way and some others in a negative way. Acting right is an organisation without regulation that requires a high level of restraint and discipline, and the Luna crypto has both. 

## Is Luna Crypto More Sustainable than Bitcoin?

This question regarding the sustainability of the Luna crypto is asked a lot. Well, the fact is that the two cryptocurrencies cannot be compared to each other in this way, as Terra Luna is by far more of a sustainable coin than Bitcoin. 
Bitcoin has a large number of infrastructures and uses thousands of machines to run its network, meaning that the carbon footprint would be on the high side. 

Second, Bitcoin is created through mining, and the mining process for the coin requires supercomputers. Using supercomputers requires much power. High-level consumption of energy is bad for the environment. 
When it comes to eco-initiatives, the fact that Bitcoin gives back a lot to society cannot be disputed. However, so does Terra Luna.
Terra Luna conserves energy because it uses fewer machines to run its blockchain network, and the Luna crypto is not mined. It uses the power of stacking model PoS, which uses way lesser energy when compared to Bitcoin. 

Terra Luna crypto is more sustainable than Bitcoin, but that is not the case here. All cryptocurrencies should achieve sustainability to make our world livable for all of us. 

## What does the future hold for Terra Luna crypto?

Certainly, this will be the question on the minds of many, including me. A company as innovative as Terra probably already has laid down a plan for its future. 

The world is watching and taking the need for cryptocurrency sustainability pretty seriously. Notable organisations like Mozilla and Wikipedia have already stopped accepting payments with cryptocurrencies that are not sustainable, putting all cryptocurrency companies on their toes.
Hopefully, the Luna crypto will continue to be a sustainable coin and even improve more as an eco-friendly cryptocurrency. 
Green digital payments are very much possible for businesses; with time, they will be widely adopted with all cryptocurrencies, and our environments will become healthier for us.


Is Luna Crypto a Sustainable Coin?

Is free [Bitcoin](/coins/btc) mining a scam? Is it possible to mine Bitcoins by playing free Bitcoin mining games? Here are 11 free Bitcoin mining games you can play to win Bitcoins.

1.	Roller Coin
2.	CryptoPop
3.	CropBytes
4.	Bitcoin Bounce
5.	Bitcoin Food Fight
6.	Crypto Planet
7.	Bitcoin Blast
8.	Bitcoin Solitaire
9.	Alien Run
10.	Bitcoin Blocks
11.	CryptoWin 
 
Mining Bitcoin has been made accessible and achievable for you. Read on to find out more about these games and how they work.

## What is Bitcoin?

Bitcoin, also known as BTC, is the largest and most popular cryptocurrency in the crypto space. It was created in 2008 by Satoshi, an anonymous person who remains anonymous. Bitcoin is simply digital money whose transactions cannot be traced, but are considered safe, just like other cryptocurrencies. 

## What is Bitcoin Mining?

Bitcoin mining is simply a way of creating new Bitcoins, and it serves as a form of maintenance for the coin’s network. Bitcoin mining is usually a challenging process that involves solving complex cryptographic calculations. And this often requires the use of high-level computer systems. 

If mining Bitcoin is tough, how possible is it then to get Bitcoin by playing free Bitcoin mining games? After reading about Bitcoin mining, this is probably the question on your mind. 
It is entirely possible to mine Bitcoin for free just by playing games. You should be aware that these games are not random; they were specifically created for mining coins.

Please note that Bitcoin isn’t the only cryptocurrency mined by playing free games. It is also important to know that not all coins are created by mining. 

## 11 Free Bitcoin Mining Games

Here’s a list of carefully selected free Bitcoin mining games you can play and win actual Bitcoins. 
Bitcoin mining is made easy with these play-free play-to-earn games. Why just play games on your mobile when you can actually play and earn at the same time? In no particular order:

1.	Roller Coin: This is an online virtual Bitcoin mining game. Players compete against their friends to mine Bitcoins. This mining process is fun and easy compared to the primary mining process. You get to complete missions, and tasks and, most of all, play a fun game to build your mining empire. You just need to sign up, log in, and customise your character. Nothing complicated, just an easy play-to-earn game, and you get to win actual Bitcoin. 

2.	CryptoPop: Who says Bitcoin mining has to be difficult? There is no use mining the hard way when you can enjoy yourself while earning notable cryptocurrencies. The game is almost like candy crush, but instead of candies you have to tap on some group of cryptocurrencies to pop them. Points are added depending on how many pins you pop in one tap. To start playing the game, you need to input your Coinbase email address in the wallet section to record your points. Once you have gotten enough points, it’s time to get paid. 

3.	CropBytes: If you played the popular Farmville game in the past, then this is your chance to earn big from this game. Like Farmville, you need to grow, harvest your crops, feed your farm animals, that is, your livestock, and then collect products from them. The products collected from your livestock, such as milk and eggs. It can be traded for crypto, and you also need to reinvest in the farm to keep it running and earn more money. To play the game, you first need to sign up, then to withdraw your earnings, you need to send your wallet address to the game's support link.

4.	Bitcoin Bounce: As the name indicates, this is a game that involves bouncing, in the sense that you have to bounce from one platform to another without falling. You also need to pick up all the power-ups you find along the way to help you survive longer.

5.	Crypto Planet: The game is about mining crystals; all you need to do is activate the digger and leave it for eight hours, then come after to claim your crystals. These resources can now be used to buy Space Chests from the game shop, which you'll need to earn real cryptocurrencies. You will earn more cryptos at the end of the day as you mine more crystals from planets. The trick to earning more crystals faster is to incubate some, and you’ll get more after a few hours. Also, there are daily quests to harvest more crystals and get more Space Chests. Cryptocurrencies earned are stored in the in-game wallet. You can be able to withdraw once you reach the withdrawal limit. Your earnings can also be transferred to any supported external wallet.

6.	Bitcoin Food Fight: In Bitcoin Food Fight, the fight is not against other people, but rather against the food. Nice twist! You throw knives at pizzas and other food items to make them fall apart. In this game, you need to aim for the space between the knives already stuck to the food. And ensure that your knife does not clash with another, as it will reset the level. Everyone is a winner in this game, and you get rewarded with Bling points whether you win or lose. You can convert your Bling points to Bitcoin, and you can cash out every seven days. To claim the Bitcoins you earned, you need to enter your Coinbase account in the Redeem tab.

7.	Bitcoin Blast: This is a simple game. You need to make a chain of at least three Bitcoins to clear the board. The length of the chain determines your earnings, meaning the longer the chain, the more you earn. To start, you need to sign up for Bling, and you also need a Coinbase account.

8.	Bitcoin Solitaire: Do you know about the Solitaire game? Well, this game is the same as the original Solitaire game. For those who do not know about Solitaire, the game is played by arranging each deck of cards into ascending order. The deal is for you to make faster moves. You need a Coinbase to be able to withdraw your earnings.

9.	Alien Run: Did I mention earlier that this is a list of fun games? Alien Run is indeed a fun game with a different twist from others. In this game, you gain points when you pass five levels. In the game, you play as Daniel D’Alien, and you run and jump across platforms that change occasionally. The game has many levels with unpredictable twists that make it even more fun. Like other mining games, you need Coinbase to be able to collect your rewards.
 
10.	Bitcoin Blocks: The game simply matches at least two blocks. The deal is to match more than two blocks so that you can win combos that enable you to get rid of the blocks easily and earn points. You'll need a Bling account and a Coinbase account to start playing the game to claim your profit. Please be aware that the game automatically locks you out for 12 hours when you play 15 consecutive turns.
 
11.	CryptoWin: This is a great game that is good for memory testing. How sharp is your memory? Well, it is time to find out how active your memory is. To play the game, all you need to do is tap any card on your screen, then find the other pair by flipping other cards. There is a time limit, though, so do well to finish before the time ends. There are many levels in the game. The more you win, the harder the game becomes, and the more games you win, the more you earn.
There are various ways to earn digitally, and free Bitcoin mining games are one. You can earn big from the comfort of your home at your leisure. You can earn actual Bitcoins just by playing these free Bitcoin mining games. They are fun, easy, and, of course, free.

Ensure that you do not put details that can compromise your wallet for safety purposes. Enjoy your games while earning.


Free Bitcoin Mining: Experience the Best Games

The supply of Bitcoin is capped at 21 million units, so how many [Bitcoins](/coins/btc) are left to mine?

The cap is established by the source code of Bitcoin, written by its creator, Satoshi Nakamoto, and which cannot be modified. Once every Bitcoin is mined, the number of coins in circulation will be fixed indefinitely. 

In comparison, central government money has no set boundaries. Governments can issue as many dollars or rupees as they need if they do not mind the resultant inflation. Before Bitcoin, digital cash had the problem of double-spending. Until its development, the only method to ensure a party did not spend money twice was for some central authority to track coins transferred and received, updating users' balances – just like the existing banking system.

However, Nakamoto's discovery enabled computers running a piece of software to impose rigorous spending constraints that prohibited a digital representation of value from being spent twice for the first time – or made it prohibitively expensive to do so. Previously, miners would sell their freshly created Bitcoin on the market to fund operational expenditures in US dollars. However, mining companies are increasingly adding their created currencies to their balance sheets and issuing Bitcoin-backed loans. As a result, Bitcoin has become even rarer as a more significant proportion of the entire Bitcoin supply is locked up for the long term.

As of January 2022, 18.9 million Bitcoins had been mined, with around 2.1 million Bitcoins left to be mined. The block reward - or the number of new Bitcoins awarded to crypto miners for creating a new Bitcoin block - determines how long it takes to mine one Bitcoin. At the moment, 6.25 Bitcoins is the block reward, and a new block is generated every 10 minutes or so. Every 1.6 minutes, a new Bitcoin is mined.

## Production of Bitcoin 

According to the Cambridge Bitcoin Power Consumption Index, the production of Bitcoin requires 143.5 terawatt-hours of electricity per year, which is more than in Ukraine or Norway. As of August 2021, mining a single Bitcoin would need nine years of household-equivalent power. Application-specific integrated circuits, or ASICs, are necessary computer hardware and can cost up to $10,000. ASICs consume massive quantities of energy, which has sparked criticism from environmentalists and restricts miners' profitability. Joining a mining pool is one method to share some of the hefty costs of mining. Pools enable miners to share resources and increase capabilities, but shared resources imply shared incentives. Therefore, the potential payment is lower while using a pool.

Surprisingly, the Bitcoin protocol's supply restriction of 21 million is not stated in its white paper or code. Instead, the ever-decreasing quantity of Bitcoins paid by each block, together with the decentralised network of computers enforcing that reward, allows the network to implicitly forbid the issuing of Bitcoin beyond the limit.  

Nakamoto set the restriction to make the money rare and to minimise inflation that may result from an infinite supply. The idea is simple: if there is a limited amount of Bitcoin, its value would eventually grow due to increased demand and less supply. The difficulty is that Bitcoin achieved 90% of its maximum supply earlier this month. The most significant effect of approaching and eventually exceeding Bitcoin's supply cap is that mining will become significantly less economical. However, the procedure will take more than a century. Bitcoin miners will still be compensated, but only through transaction fees rather than newly generated coins. Since the cryptocurrency's inception in 2009, about 19 million bitcoins, or 90% of the total, have been mined.

Nonetheless, recent predictions indicate that the final Bitcoin will not be created until about 2140. The rate of new Bitcoin left to mine is expected to diminish over time. Every 210,000 blocks, the pay-out for mining each block of bitcoin, which is done every 10 minutes, is cut in half. This occurs every four years. The reward per block had decreased from its original value of 50 BTC per block in 2009 to just 6.25 bitcoin by 2022. By the end of 2024, miners are scheduled to receive just 1.56 Bitcoins for confirming a block of transactions.  

## The History of Bitcoin Mining

Mining was swift at first: according to research firm [Messari](https://messari.io/), half of the 21 million potential Bitcoins had already been mined by late 2012. In 2021, issuance dropped significantly, with fewer than half a million BTC mined for the entire year. If demand for Bitcoin continues to rise, reaching the supply limit would certainly raise its price. This is because everyone desiring to acquire Bitcoin will have to do it from another person, giving sellers influence over the price. Even if all Bitcoins are produced, far less than 21 million will be actively circulating. Chainalysis, a data analytics firm, believes that nearly one-fifth of all coins created have been lost. Bitcoin is stranded in wallets with lost keys, by the physical loss of hard drives where those keys were kept, or even in wallets belonging to deceased owners who never passed on the credentials required to access them. If Bitcoin in 2140 is mainly used as a store of value rather than for everyday purchases, miners can still profit - even with low transaction volumes and the absence of block rewards.

Miners can charge hefty transaction fees to execute high-value or big batches of transactions, with more efficient "layer 2" blockchains like the Lightning Network collaborating with the Bitcoin blockchain to allow everyday Bitcoin spending. However, because the rewards are half every four years, the cost of operating the enterprise will soon outweigh the miners' earnings. Mining may become an unsustainable economic model. Transaction fees will, however, eventually climb because only a limited number of transactions may be validated every 10 minutes. This would be compensation for miners suffering a lack of block rewards, but the transaction amount is dependent on the network's future state. Miners might also employ innovation to improve energy efficiency and reduce expenses. 

If the number of network transactions grows in the future, the pace of the transactions may slow. Bitcoin's architecture prioritised accuracy and integrity over speed. If the volume of transactions in the network falls, Bitcoin could become a reserve asset. That would push out small retail traders, which would be replaced by substantial institutional players, raising transaction costs and making trading more expensive.  
Furthermore, if Bitcoin mining becomes unprofitable in the absence of block rewards, the following damaging effects may occur: 
Groups of miners may create cartels to dominate mining resources and charge higher transaction fees.  

Selfish mining happens when miners agree to hide new legitimate blocks and then release them as orphan blocks. The Bitcoin network has not verified these new blocks. This method can lengthen block processing delays and guarantee that fresh blocks are subject to large fees when they are issued to the blockchain. 

Scarcity will undoubtedly contribute to increased Bitcoin buying. FOMO (fear of missing out) cold create a rush to purchase the rare asset, and those who already own it will be in an advantageous position to sell. However, there is also hope that prospective rules will help keep volatility under control. 

Furthermore, if supply stagnation continues to increase Bitcoin's value for the next 100 years, consider this thought experiment: a home worth one Bitcoin now would be worth half a Bitcoin in 10 years, one-tenth of a Bitcoin in 30 years, 0.05 Bitcoin in 40 years, and so on. Such a system would not function in the same way we expect rupees and dollars to, which explains both the excitement and concern about what Bitcoin in its current shape may do to our economic system. 

Bitcoin doesn't just bring scarcity to the digital domain. It offers a predictable monetary policy that can be planned over time, and which differs from the present monetary system in which governments and policymakers can expand the supply of money, as we have seen in recent years. As a result, currency depreciation is impossible in Bitcoin, and its users' purchasing power is safeguarded. In addition to safeguarding people's buying power, Bitcoin's predictable policy allows users to prepare for the future because they can be confident that no one will debase their money. Important societal improvements may be possible through a strong commitment to long-term labour and investment, rather than short-term bets.

The price of Bitcoin in US dollars might be viewed as a lagging reflection of humanity's comprehension of the technology and its revolutionary value proposition. So, while the Bitcoin price may eventually trend to infinity, it will not be a reality until most of the global population or most of the world's money realises it.






	


How Many Bitcoins Are Left to Mine?

Confused by cryptocurrency tech? You need a Blockchain for Dummies guide.
The way blockchain records data makes it difficult or impossible to hack, change, or cheat the system. The decentralised database, controlled by various participants, is known as Distributed Ledger Technology (DLT). 

It is a distributed digital log of transactions that is duplicated and distributed throughout the blockchain's entire network of computer systems. Every transaction is recorded in every participant's ledger, and each block in the chain comprises numerous transactions. The block of data keeps any information needed, including what, when, who, where, the cost involved, the state of a shipment, and variables such as the temperature.

As an asset proceeds between locations or the owner changes, the respective blocks form a data chain. The blocks confirm the order and time of transactions, and they are firmly tied together to stop any block from being changed or placed between the two current blocks.  

All network participants can access the distributed ledger and its immutable record of transactions. With this shared ledger, transactions are recorded just once, reducing the duplication of effort that is frequent in traditional commercial networks.
Each additional block strengthens the previous block's verification and thus the entire blockchain. This makes the blockchain tamper-evident, providing the critical strength of immutability.  

This removes the risk of bad actor manipulation — and establishes a trustworthy record of transactions for you and other network users.  

No participant may edit or tamper with a transaction after it has been logged into the shared ledger. If a transaction record contains a mistake, a new transaction must be recorded to remedy the issue, and both transactions are then visible.  
This implies that if one block in a chain is altered, it is evident that it has been tampered with. Hackers would need to modify every block in the chain across all distributed copies of the chain to destroy a blockchain system. 

A smart contract is a compilation of rules stored on the blockchain and carried out automatically to quicken the speed of transactions. A smart contract can specify the terms of corporate bond transfers and the payment of travel insurance, among other things. Blockchains are distributed ledger systems that record transactions with an immutable cryptographic signature known as a hash. 

Continuing our blockchain for dummies guide, let us remind you that blockchains are constantly expanding as new blocks are added to the chain, increasing the ledger's security.  

The overarching issue is trust. How can we believe that if someone establishes new money called the Y dollar, they will not award themselves millions of Y dollars or perhaps take your Y dollars? 

It was this issue that [Bitcoin](/coins/btc) was created to address, using a special database known as a blockchain. Most conventional databases, such as SQL databases, have someone in charge who can update the entries. Blockchain is unique because no one is in control; it is run by the individuals who utilise it. Furthermore, Bitcoins cannot be counterfeit, hacked, or double-spent — thus, anyone who holds this money may be confident that it has some worth.  
 
A blockchain network can track orders, payments, accounts, production, and other things. And, since members share a single view of the truth, you can see all the complexities of a transaction, giving you greater confidence as well as new efficiencies and opportunities. 

## Benefits of Blockchain for Dummies? 

Currently, operations frequently waste time and resources on duplicate record keeping and third-party validations. Fraud and cyberattacks can exploit record-keeping systems. A lack of transparency can slow data verification. And since the introduction of IoT, transaction volumes have surged. All of this slows commerce, depletes the bottom line, and suggests that a different method is required. Here comes blockchain.  
 
## Trust  

You may be sure that as a member of a members-only network, you are receiving accurate and timely data, and that your confidential blockchain records will be shared only with members of the network to whom you have authorised access.  
 
## Security  

Because confirmed transactions are permanently stored, all network participants must agree on data veracity. Nobody, not even the system administrator, can erase a transaction. 

## Increased Efficiencies  

Time-consuming record reconciliations are removed with a distributed ledger shared across network participants. A collection of rules, known as a smart contract, may also be placed on the blockchain and implemented automatically to speed up transactions. 

## Types of Blockchain Networks for Dummies
 
### Blockchain public networks  

A public blockchain is one that anybody may join and participate in. Bitcoin is an example. Significant processing power may be required, as well as little or no transaction privacy and inadequate security. These are critical concerns for the application of blockchain in the corporate world.
 
### Blockchain private networks  

Like a public blockchain network, a private blockchain network is a decentralised peer-to-peer network. A single organisation governs the network, controlling who may participate, implements a consensus procedure, and maintains the shared ledger. Depending on the application, this can increase participant trust and confidence. A private blockchain can be hosted on-premises or behind a corporate security system.
 
### Blockchain networks with permissions  

Businesses that create a private blockchain create a permissioned blockchain network. It is worth noting that public blockchain networks may be permissioned as well. This limits who is permitted to join the network and what transactions are made. To participate, you must have an invitation or permission

### Blockchain consortiums  

The upkeep of a blockchain may be shared across many companies. These pre-selected organisations control who may submit transactions and access data. A consortium blockchain is appropriate for business circumstances where all stakeholders must be approved and share ownership of the blockchain.
 
### Blockchain Security for Dummies  

When developing an enterprise blockchain application, it is critical to have a complete security plan that employs cybersecurity frameworks, assurance services, and best practices to decrease the risk of attacks and fraud.  
 
While blockchain technology creates a tamper-proof transaction ledger, blockchain networks are vulnerable to cyberattacks and fraud. Those with malicious intent can exploit known weaknesses in blockchain technology and have been successful in various hacks and frauds throughout the years. Here are a couple of such examples:
 
### Exploitation of code  

Through code exploitation, the Decentralised Autonomous Organisation (DAO), a venture capital fund based on a decentralised blockchain inspired by Bitcoin, was plundered of more than USD 60 million in ether digital currency – almost one-third of its value.
 
### Keys stolen  

The loss of roughly USD 73 million in client Bitcoins from Hong Kong-based [Bitfinex](https://www.bitfinex.com/), one of the world's largest cryptocurrency exchanges, revealed that the currency remains a substantial danger. The reason was the theft of private keys, which are personal digital signatures.
 
### Employee computer hacked 

When Bithumb, one of the major Ethereum and Bitcoin cryptocurrency exchanges, was recently attacked, hackers accessed the data of 30,000 customers and stole USD 870,000 in Bitcoin. Even though it was an employee's PC that was hacked rather than the main servers, the incident prompted concerns about general security.

When creating a private blockchain, ensure it is implemented in a secure, robust architecture. Poorly chosen underlying technology for company goals and operations might expose data to security threats due to vulnerabilities. 
Consider the dangers to business and governance. Financial repercussions, reputational considerations, and regulatory hazards are all examples of business risks. Governance issues stem from the decentralised nature of blockchain systems, which necessitate strict controls over decision criteria, governing policies, identification, and access management. 
 
Understanding and controlling blockchain network risks are important to blockchain security. A blockchain security model comprises the strategy to deploy security to these controls. Create a blockchain security model to verify that all security safeguards for your blockchain solutions are in place. 

Administrators must create a risk model that addresses all business, governance, technological, and process concerns to execute a blockchain solution security model. They must next assess the dangers to the blockchain solution and develop a threat model. Then, administrators must create the security measures that will reduce the risks and threats based on the three categories listed below:  

Implement blockchain-specific security mechanisms.  
Use standard security controls.  
Implement blockchain business controls. 
How Does Blockchain Operate in the Business World?  
Blockchain for business is useful for entities that do transactions with one another. Permissioned users may access the same information simultaneously using distributed ledger technology, improving efficiency, removing friction, and building trust. Blockchain technology can also enable a solution to grow and scale quickly. Many solutions can be customised to do many jobs across sectors.  
 
## What Role Does Blockchain Play in Environmental Protection?  

Blockchain technology may enable new change models, expand knowledge, and assist social groups in creating common systems of record that meet the needs of corporate donors. Blockchain guarantees that production processes and environmental effects may be recorded, audited, and reported. 

So, to summarise for dummies, blockchain technology enables operational, regulatory, increased visibility, and traceability verification efficiencies. This technology also functions as a robust database that can be readily coupled with big data. Blockchain has the potential to reduce costs and make many services more competitive.
 
 
 



Blockchain for Dummies: The Tech Explained

Cryptocurrency investors are being targeted by an increasing number of Bitcoin trader scams.
Bitcoin, a decentralised digital currency, was introduced to the market in 2009 by a mystery developer named Satoshi Nakamoto.

It was created to act as a virtual coin and a form of payment beyond the authority of any individual, group, or entity, thus terminating the necessity for third-party involvement in monetary transactions.

It is rewarded to blockchain miners for the work done to demonstrate trades and can be bought on multiple exchanges.
Currently, it is the leading cryptocurrency in the market. Its popularity has resulted in the development of multiple other cryptocurrencies. There are, at present, 21 million Bitcoins in the market.

Tricksters are always waiting for a chance to steal investors' money. The massive popularity of Bitcoin and the technological advancement in recent years resulted in numerous Bitcoin trader scams. According to [blockchain data firm Chainalysis](https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/), cryptocurrency scams had a record-breaking year in 2021 – scammers stole $14 billion of crypto last year. Investors interested in Bitcoin must know how to recognise these ongoing crypto scams and the best practices to avoid them and save their money.

## How to Recognise Bitcoin Scams?

Caution signs to look out for include:

1.   Assurances of guaranteed returns:
 Bitcoin is a volatile investment. It has its ups and downs in the market. No monetary investment can assure future returns because investments can go down and up. Any Bitcoin offer that guarantees you future returns is a big red flag.
2.   Free money:
Free money is a scam. Free money is a myth, any investment opportunity, be it cash or digital coin promising free money, is likely to be fake.
 Any individual or company asking you to invest in Bitcoin and enjoy free money return is scamming you.
3.   Exaggerated marketing:
All enterprises advertise themselves. But one way that crypto scammers lure people is by investing in a hefty marketing strategy. This could include online advertising, paid influencers, and offline promotion. This is planned to reach as many individuals as possible to raise finances fast in the shortest time feasible. If the crypto offering marketing feels heavy-handed or drives grand claims without backing them up, break and do detailed research to save yourself from such a scam.
4.   Bitcoin craze:
Bitcoin rose dramatically in value because genuine investors consider it a promising investment to buy at the right time, hold, and sell when the market is high. Always avoid "investment opportunities" that promise you a good return and ask you to invest in Bitcoin for Bitcoin's sake.

## 5 Common Cryptocurrency Scams

Cryptocurrency has evolved as a hunting ground for scammers. Let's dive into some common cryptocurrency scams.

1.   Fake websites

Fraudsters create phony cryptocurrency trading platforms or fake interpretations of authorised crypto wallets to scam gullible investors. These fake websites generally have similar, but slightly distinct domain titles from the sites they try to emulate. They look identical to legal sites, making it hard to differentiate. Fake crypto sites usually function in one of two ways:
•	As phishing pages - All the data you share, such as your crypto wallet's password, recovery phrase, and other monetary data, end up in the tricksters' hands.
 
•	As straightforward theft - Initially, the site may allow you to withdraw a small number of funds. As your investments function well, you tend to invest more money in the site. However, the site closes down or rejects the request when you want to withdraw your money later.
2.   Pump and Dump Scams
 
This scam sees a specific coin or token being promoted by scammers via an email blast or social media such as Twitter, Facebook, or Telegram. Traders often fall prey to such schemes and rush to buy the coins promising huge returns in a short time. Having thrived in raising the price, the tricksters then trade their holdings, resulting in a crash as the investment's value sharply falls. This can occur within minutes.

3.   Phishing Scams

Crypto phishing scams usually target data related to online wallets. Fraudsters target crypto wallet private keys, which are needed to access coins within the wallet. Their working method is similar to other phishing attempts and connected to the fake websites explained above. They send an email to draw gullible investors to a specially designed website asking them to enter personal critical data. Once the scammers have received this data, they steal the cryptocurrency in those wallets.

4.   Blackmail and Extortion Scams

Another trick crypto fraudsters use is blackmailing. They send emails that proclaim a history of adult websites accessed by the user and threaten to reveal them unless they share private keys or send cryptocurrency to the scammer.

5.   Scheming Initial Coin Offerings (ICOs)

An ICO is a mode for start-up crypto firms to raise funds from future customers. Usually, users are guaranteed a discount on the new crypto coins in trade for sending popular active cryptocurrencies like Bitcoin.

## 10 Best Practices to Avoid Bitcoin Trader Scams

Many crypto scams are sophisticated and influential. Here are measures to save yourself from such situations.
1.   Don't believe in celebrity-backed offers:
One of the significant crypto scam trends includes fake celebrity-backed offers. BBC TV show Dragons' Den was one of them. The scam involved people going crazy behind Bitcoin investments because it was presented as celebrities supporting Bitcoin. But it was fake and was a trick used by fraudsters to steal investors' money.
2.   Protect your wallet:
To invest in Bitcoin, you require a wallet with confidential keys. If a company requests you share your keys to partake in an investment chance, it's highly likely to result in a scam. Make sure you don't share your wallet keys with strangers.
3.   Keep a watch on your wallet app:
In the initial stage of transferring money, make sure first to check the legality of a crypto wallet app. Do it by performing a small test of sending a small amount first. If, while updating a wallet app, you detect questionable behaviour, close the update, and uninstall the app instantly.
4.   Take your time:
Fraudsters often use high-pressure techniques to pressure you to invest your funds fast – for example, by assuring rewards or discounts if you partake instantly. Take your time and conduct your own analysis before financing any money in Bitcoin.
5.   Be cautious of social platform adverts:
Crypto fraudsters often use social platforms to boost fraudulent tactics. They may use unauthorised pictures of superstars or high-profile business individuals to build a sense of legality or guarantee giveaways or free cash. Beware of such tactics and don't fall prey to such scams promoted on social media. 
6.   Avoid cold calls:
If a person suddenly contacts you to tell you about a crypto investment opportunity, immediately cut the call, block the number and inform the police. Never reveal personal data or transfer money to a person who reaches you in this way.
7.   Do your research:
If you are new to Bitcoin investments, it's good to conduct thorough research about the digital coin before investing your funds. Look if there is a whitepaper you can read, find out who handles it and how it functions, and scrutinise for honest reviews and testimonials.
8.   Examine Links:
Before downloading any document or accessing any links online, examine the website to ensure it is trustworthy and is SSL-certified. With technological advancements, scams related to fake websites are increasing, so it's good to avoid landing on unsecured websites.
9.   Companies too good to be true:
Businesses that promise assured returns or overnight riches are scams. These companies have their chain set up to lure investors into investing in their fraud schemes by attracting them with positive Bitcoin returns.
10.   Only install apps from authorised platforms:
Although phony apps can end up in the Google Play Store or Apple App Store, installing apps from these mediums is more secure than elsewhere.

## Final Thoughts

[Bitcoin](/coins/btc) is the most popular crypto coin in the market. With its popularity comes a high possibility of fraud. Crypto fraudsters tend to sell the information they have collected to other scammers. So, investors must scrutinise before investing funds and update their usernames and passwords across the board to avert further damage. Remember, keep your wallet key private, double-check every URL, and if something appears too good to be true, avoid it as it will probably be a scam.

Finally, as with any investment opportunity, never invest money you can't afford to lose. Even if you're not being scammed, cryptocurrency is volatile and speculative, so it's critical to comprehend the stakes.


Bitcoin Trader Scams - Best Practices to Avoid Them

Bitcoin paved the way for other cryptocurrencies. There are thousands of coins and many more new crypto coins yet to launch. Where does this leave the almighty [Bitcoin](/coins/btc)?

## What Are Altcoins?

Altcoins are cryptocurrencies that are not Bitcoin. In other words, they are alternative coins to Bitcoin. These coins share similar characteristics with Bitcoin but can improve their features. 
Ethereum is the second-largest cryptocurrency after Bitcoin, making it the largest altcoin based on market cap. Some other major altcoins are Binance, Solana, and USDC.

New crypto coins are emerging. Based on the level of advancement in the crypto world, they are likely to do even better. For example, there were older cryptocurrencies before Solana launched, yet it is currently one of the largest coins in the crypto space.

There are more than 14,000 altcoins; some are still rising in price while others have been struggling to stay relevant. Despite the number of altcoins available, in November 2021, according to (CMC) CoinMarkeyCap, Bitcoin and Ethereum had 60% of the cryptocurrencies available in the market, while altcoins accounted for the remaining 40%.

Currently, the price of Bitcoin influences most cryptocurrencies, a significant change in the price of Bitcoin leads to a significant change in the price of altcoins.

## Type of Altcoins

There are different types of altcoins and different categories based on their functions. Each of these categories plays a different role in the crypto world. The categories include;
Mining-based coins

Like Bitcoin, these coins are mined to create more and serve as a way of controlling the circulation of the coins. Some examples of mining-based coins are Litecoin and Zcash.

### Stablecoins

Stable coins play a really important role for investors in the crypto market. They are called stable coins because they are influenced by fiat currencies, for example, US dollars. Stable coins include NUSD, NUSD, and USDT. 

### Meme coins

These are usually short-term gain coins. A joke on existing popular cryptocurrencies inspires meme coins. Examples of meme coins are Shiba Inu and Dogecoin. 

### Security tokens

Security tokens are a replica of the traditional stock. 

### Utility tokens

These are tokens used to provide services within a network. An example of a utility coin is Filecoin. 

### Are Altcoins Good Investments?

Profit and loss in cryptocurrency trading depend on the coin you invest in. So the first step in determining if a coin is a good investment is to DYOR. With that, you will be able to figure out if the coin is worth the risk.
Not all altcoins are good investments, although many have proven profitable.

Generally, investing in cryptocurrency is risky as it is a volatile market. If you invest, ensure that you do proper research, especially on new crypto coins, and take wise risk decisions.

## Are More Altcoins Needed in the Market?

The emergence of new crypto coins positively impacts the crypto market. Bitcoin is out of reach for most crypto investors based on its current price. There are lots of altcoins with good potential going for a way lesser price compared to Bitcoin. 

Some new crypto coins are making waves in the crypto world and making their investors rich. Meme coins may be short-term gain coins and have a high level of volatility, but that doesn’t change the fact that it has made many millionaires overnight. 

More altcoins mean more opportunities for cryptocurrency investors. It is up to you to ensure that you are making the right investments.

## What Do Bitcoiners Think About Altcoins?

Altcoins are more advanced than Bitcoin and are considered good alternatives. Despite all the new features altcoins possess, Bitcoin still stands as the most popular and most prominent cryptocurrency in the crypto space.
Bitcoiners may not be too open to new crypto coins, but the fact is that the entire crypto space is aware of the positive impact altcoins have on the crypto market. 

Bitcoin remains the number one cryptocurrency in the whole crypto market. Bitcoiners are aware that these new crypto coins cannot replace Bitcoin.


New Crypto Coins: Good News for Bitcoin?

What is a crypto mining company? How does it work? What happens when all [bitcoins](/coins/btc) are mined? If you have similar questions, read this article to the end. We will dive into these topics and learn more as we explore the particulars of a mining company, crypto mining, and its legal aspects.

## What is Cryptocurrency Mining?

Cryptocurrency mining is a process requiring specialised computers, also known as mining rigs or nodes, to verify blockchain transactions for a particular crypto coin. The miner, in turn, receives a mining reward for their computational work.

## The Mining Dozers: Rigs, Nodes, and Pools

Blockchains need an expansive network of high-performing machines to validate and store transactions. Mining rigs use modern processors, like FPGA, GPU, or ASIC, and serve as nodes for their network. One might wonder if using standard personal computers as mining equipment is enough to mine Bitcoin. Here's the reason why it's not a good idea. Personal computers lack the computational power required to handle this level of processing. Therefore, a mining rig is used to perform cryptocurrency mining. It's a combination of mining devices to increase the mining output power, multiply hash rates, and thus the rewards.

Bitcoin mining requires enormous computational power and electricity. But having such resources for an individual miner is not easy. So, miners form a mining pool, which allows them to work together and combine their computational resources over a network for more profitable mining.

## How Does Cryptocurrency Mining Work?

Here is how a cryptocurrency mining company works. Cryptocurrency mining is not merely about mining new coins. It serves two purposes: generating new coins and validating transactions on the blockchain.
Bitcoin miners earn the reward, in the form of Bitcoins, when they complete verifying a block of transactions. This increases their capital along with the total number of Bitcoins in circulation.

## What is proof of work (PoW)?

PoW is a consensus mechanism to ensure all stakeholders agree on the legitimacy of transactions and prevent miners from spending the same money twice. Many cryptocurrencies, including Bitcoin, use the PoW strategy to achieve these verifications.

In the PoW mechanism, miners race to solve complex mathematical problems once a transaction block is filled. After solving the equation, they generate a 64-hexadecimal hash, which allows the miners to generate Bitcoin for themselves and verify the transaction.

## What Happens When All Bitcoins Are Mined?

The limit on Bitcoins that can be mined or issued is 21 million. This number is not expected to be reached because Bitcoin uses bit-shift operators. The number of Bitcoins issued per block decreased roughly by four years. Therefore, the final Bitcoin isn't expected to be generated until 2140. What happens after reaching the upper supply limit largely depends on how Bitcoin evolves.

What happens when all Bitcoins are mined? Even if the number is ultimately slightly below 21 million, new Bitcoin will no longer be issued. However, Bitcoin transactions will continue to be pooled into blocks and processed. Miners will likely continue to get rewards in terms of transaction processing fees.

## How to Start Mining Cryptocurrency

Before you start mining cryptocurrency, there are some factors to consider. For starters, your regular computer or laptop won’t really cut it, as mining cryptocurrencies require a lot of computing power and time. Here are the basics you will need to start mining cryptocurrency:

•	Computer equipment
•	Mining software
•	Wallet

Depending on which cryptocurrency you opt for, you will need to set up a special mining rig. Bitcoin, for example, is mainly mined using ASIC (application-specific integrated circuit) rigs. It can cost thousands of pounds each. Since you will be going through a lot of power, you should also consider the electricity cost.

Furthermore, you will need specific software to carry out the actual mining. Next, you’ll need to set up a crypto wallet to store the earned coins. You might also need a mining pool membership for high-probability limited profits.
 
## Is Bitcoin Mining Profitable?

Mining Bitcoin can be profitable if you earn more than your mining costs. The profit, however, depends on several factors, including the operating expenses and the cost of equipment.

How much do Bitcoin miners earn? For every successful verification, miners currently receive 6.25 Bitcoins. But this amount gets halved every four years or so. As of May 2022, 6.25 Bitcoins are worth roughly £182,000 – not a bad payday! But first, you need to beat off the competition to validate the block.

## Risks of Bitcoin Mining

Price Volatility: The value of Bitcoin has significantly varied since it was introduced in 2009. During the past year, Bitcoin has traded for less than £25,000 and nearly £65,000. This kind of instability makes it difficult for miners to evaluate whether their reward will outweigh the high costs of mining.

Regulations: Not many governments have embraced digital currencies like Bitcoin, and many are ready to view them sceptically. Due to their decentralised nature, these currencies operate outside government control, and their mining contributes to the carbon footprint. There’s also a risk that governments might outlaw Bitcoin mining or cryptocurrencies altogether.

## Downsides of Crypto Mining – All Revealed

While crypto mining offers high return prospects, there are some downsides to it. Crypto mining uses a great deal of electricity, emitting a giant carbon footprint. It's also associated with regulatory and financial issues.
Crypto mining is an energy-hungry process. Bitcoin mining, for example, uses more electricity than countries like Norway, Sweden, and Argentina. This reflects mining's mammoth greenhouse gas emissions and high costs. 

Therefore, mining tends to occur in regions with low electricity costs. But this also results in worsened environmental problems due to a lack of modern infrastructure, thus adding to the growing energy problem.
The ongoing operation cost isn’t the only expense miners face. The upfront costs to start mining can be ridiculously expensive as well. The hardware miners need, including the mining rig, can cost a few thousand pounds each.

Moreover, running into a problem with your computer isn’t rare. You’ll need some skills to quickly troubleshoot the computer if you run into an issue. Bitcoin mining isn’t for people with a lack of computer know-how. Understanding the mining procedure and setting up necessary equipment requires understanding blockchain and computing infrastructure.

## Crypto Mining: Outlawed in Some Countries

Imagine you've set up your mining rig to mine Bitcoin, only to discover you're not allowed to mine. You must understand the legal aspect of cryptocurrency mining in the region you're mining in.
 
Some countries discourage Bitcoin mining due to its decentralised nature and environmental impact. China's government banned crypto mining as it was concerned about the environmental effect and people using digital currencies for money laundering and fraud. Other countries that banned cryptocurrencies include Egypt, Morocco, Algeria, Qatar, Iraq, Oman, Bangladesh, and Tunisia.

Countries like Sweden want the European Union to halt the 'Proof of Work' mining because of its energy concerns. Implementing this proposal would drastically reduce the number of areas where miners can legally operate.
Another 42 countries, including Bahrain, Bolivia, and Algeria, have implicitly banned digital currencies by prohibiting banks from dealing with crypto or restricting cryptocurrency exchanges.

## Bitcoin Energy Consumption

Bitcoin's estimated energy consumption was around an annual rate of 6.6 terawatt-hours in 2017. But in early 2022, it soared to 138 terawatt-hours, sparking a heavy debate about the growing energy problem and climate concern.

Why does it use so much energy? Bitcoin mining uses oodles of electricity to help computers solve complex mathematical problems to validate transactions. The complexity of these calculations increases as the number of miners grows. Therefore, miners now require more powerful machines and bigger server farms to get a competitive edge. 

The positive news is that the community is trying to mitigate this negative impact by seeking green and cleaner energy sources (such as solar or geothermal energy) for mining operations. Shifting to less energy-intensive consensus mechanisms, such as Proof of Stake (PoS), is another strategy. However, switching to PoS has its own drawbacks. Critics of PoS say this mechanism incentivises hoarding instead of using coins and risks the centralisation of consensus control.

## Should You Mine for Cryptocurrency?

Should you start your own cryptocurrency mining company? The answer depends on your risk tolerance, resources, and knowledge.

First, ask yourself if you understand the process of setting up the equipment and troubleshooting any problems. If you answer yes, then the next question is if you can cover the ongoing expenses and upfront costs involved in cryptocurrency mining. Do you have enough capital, equipment, and access to electricity capabilities to make this project profitable? If yes, have you considered the environmental and legal impact? If the answer is yes, the final question is whether you've considered the financial risks involved with mining. You will be rewarded with the same cryptocurrency when you do crypto mining. The prices of these currencies can fluctuate massively. So, the mining profit could be a huge payoff or next to nothing.

Suppose you have the resources and knowledge and can also tolerate the risks. In that case, you could be ready to do Bitcoin mining and keep the ‘proof of work’ cryptocurrencies working!

## The Bottom Line

Cryptocurrency mining is an energy-intensive process with a powerful mining system that competes to solve complex maths puzzles. A reward is paid, in the mined currency, to the first miner to solve the equation. This process confirms transactions on the network and makes them reliable.

During the cryptocurrency's early days, individual miners using regular computers played a role. However, large mining companies now dominate the ecosystem that runs mining pools worldwide.

Bitcoin mining is also controversial because of its astronomical energy usage. With increasing awareness of climate change and cryptocurrencies being out of governmental control, many countries have outlawed crypto mining. Because of that, several miners have moved operations to regions that use green energy sources for electricity production to reduce the environmental impact.
 
 



Crypto Mining Company: How Does It Work?

## Are you aware of [Bitcoin's](/coins/btc) growing energy problem?

The process of mining Bitcoin has resulted in a growing energy problem. This has turned it into a topic of heavy debate over the past few years.

Bitcoin mining is becoming more and more controversial because of its highly energy-hungry process by design. The cryptocurrency requires enormous hash calculations to process financial transactions without intermediaries. The primary impetus for each of these calculations is electricity. This article will discuss Bitcoin server mining, its growing energy problem, and why it has become a point of concern for the globe. 

## What is Bitcoin Server Mining?

Bitcoin server mining is creating new Bitcoins by solving complicated math problems. It consists of computing systems with specialised chips competing to solve mathematical puzzles. The mining process verifies transactions on the cryptocurrency's network and makes them reliable. When you successfully mine a Bitcoin, you will receive a predetermined number of Bitcoins.

## How Much Energy is Consumed?

Bitcoin's estimated energy consumption shot up from an annual rate of 6.6 terawatt-hours in 2017 to 138 terawatt-hours in early 2022. That's more energy than the annual consumption of countries like Sweden, Norway, and Malaysia.

## Why Does Mining for Bitcoin Use So Much Energy?

Bitcoin mining consumes a lot of energy to help computers solve complex mathematical problems to verify transactions. The intricacy of the calculations increases as the number of Bitcoin miners grows, forcing them to invest in even more powerful machines and more giant server farms for competitive advantage.

However, the Bitcoin proponents say the cryptocurrency still only uses a minute proportion of global electricity consumption – less than what's required to power the world's Christmas lights.

## Are We Trying to Reduce the Carbon Footprint?

As the debate over Bitcoin's growing energy problem raised climate concerns, many miners worldwide have been trying to embrace green energy in mining. The strategies miners should use to reduce carbon footprint include:

•	Improving mining processes
•	Cleaning up electricity supply
•	Shifting to renewable sources
•	Optimizing transportation
•	Reducing waste

## Are Bitcoin's Emissions Dropping?

While notable personalities like Elon Musk, Michael Saylor, and Jack Dorsey exhort the industry to fuel-switch green energy, there has been a surprise increase in global carbon emissions. According to one of the leading energy journals, [Elsevier's Joule](https://www.journals.elsevier.com/joule/recent-articles), the share of renewables in the overall energy mining dropped from 42% in 2020 to 25% in August 2021. Likewise, the carbon footprint from generating electricity grew by 17% between 2020 and 2021.

## Has the Climate Concern Impacted the Crypto Markets?

Yes, it has. Elon Musk, the chief executive of Tesla, said in February 2021 that the company had invested $1.5 billion in Bitcoin. He added that it would accept the cryptocurrency as a payment method for its products. This move made the digital currency more popular with investors. However, Musk later that year announced a stunning turnabout that Tesla had suspended vehicle purchases using Bitcoin due to its climate change concerns. The decision provoked a sell-off in Bitcoin that affected many other cryptocurrencies.

## What is the Most Efficient Bitcoin Miner?

The widely considered best Bitcoin miner is Antminer S19, followed by WhatsMiner M30S+ and AvalonMiner 1246. This mining hardware varies in power consumption, hash rate rating, and price. You can use profitability calculators with mining pools to find the best one for you.

## What Does the Future Hold?

Bitcoin's critics say the energy-hungry "proof of work" (PoW) system used on its blockchain was never designed to hold up what's now a trillion-dollar asset. This debate gave the backers of rival cryptocurrencies a chance to seize on Bitcoin's growing energy problem as an argument to shift to lower-power alternatives. Ethereum is widely expected to switch from energy-consuming PoW to "proof of stake" (PoS) by 2022. This will slash its estimated energy consumption by about 99%. Like Cardano and Solana, many newer blockchains also use variations of "proof of stake" as an alternative process that takes up less electricity.

The bright side is that Bitcoin's development community is experimenting with solutions to improve its energy efficiency, which may alleviate the climate concern. What the future holds for Bitcoin server mining and investors is still unknown. However, it remains the world's dominant cryptocurrency despite many challenges.


Bitcoin's Growing Energy Problem - All Revealed

Cryptocurrencies like [Bitcoin](/coins/btc), Litecoin and some others are generated through mining. Crypto Tab Browser was designed to make mining easier for miners. The digital world is greatly advancing, including the world of cryptocurrency. Hopefully, Crypto Tab will bring a lot of positive impact for crypto miners. Read on for more insights!

## Crypto Tab Browser

According to the creators, Crypto Tab Browser is an app that supports mining and browsing the web. This browser stands out as the first of its kind.

[Crypto Tab](https://cryptotab.net/en/) is a one-of-a-kind browser used to surf the web and mine Bitcoin simultaneously. If your mining is successful, you get rewarded with the mined Bitcoin. 

You are probably wondering how possible it is for a browser to have the capability of mining Bitcoin, considering the high level of hardware devices needed. 

The app is said to be a free, reliable cryptocurrency mining app, but is it?

## What is Mining?

To fully understand what Crypto Tab Browser is about, you must first understand what mining is and how it works.
The mining process creates new coins for some cryptocurrencies. This helps to maintain the circulation of the coins. 
Mining for most coins, especially Bitcoin, is usually not easy. Mining requires high hardware capable of solving complex problems. The miner who first solves the next block and broadcasts it, if approved, gets added to the blockchain. The miner then gets rewarded with the mined coins. 

Crypto Tab creates an easy opportunity for Bitcoin miners to earn Bitcoin. Miners will enjoy this browser, with its lightweight browsing speed and fast and ready-to-mine feature. The best part is that the browser is completely free.

## Features of the Crypto Tab Browser

Based on the description of the browser by its authors, the browser:

•	Is a super-fast, lightweight browser: This app offers a fast internet speed. Aside from having good mining features, Crypto Tab provides a good browsing experience.
•	It has built-in mining features CryptoTab: this is the unique feature of this app. Mining is a process that requires unique hardware devices, but with this app, you can mine with any device. 
•	It is user-friendly: Users can easily assess the browser
•	Sync everything across multiple devices: The app can be synced with all your devices. 

## What Can the Browser Do?

•	Crypto Tab Browser is a reliable browser with lots of unique features. 
•	Miners can earn on the browser while still surfing the internet. 
•	Mining on the browser is fast due to its fast built-in mining algorithms. 
•	It can be used on all devices, including desktops and tablets. 
•	It mines bitcoin: 

## Some controversies about Crypto Tab

Despite all these positive attributes of Crypto Tab, most people still have their doubts about the browser. 
Although Crypto Tab is a free browser, people still suspect it to be a scam. Whether the browser is a scam or not remains uncertain.


Crypto Tab Browser: What You Need to Know

[Bitcoin's](/coins/btc) price rose above $30,613, increasing by 5.62% in the last 24 hours. [Ethereum's](/coins/eth) price also rose by 7.02% to $1,902 in the same time frame.  

The [Bitcoin (BTC) price](https://coinmarketcap.com/currencies/bitcoin/) remained far above the $28,500 support zone and began a new upward trend over the $29,200 resistance mark. As of writing, the price has surpassed $30,600 and has increased by more than 5% in a single day. 

Similarly, the price of Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, is back over the $1,850 resistance level and is up 6% in a day.

BTC and ETH were not along in experiencing 24 hours of notable value rises on the cryptocurrency markets.
Ripple (XRP), which is another major altcoin, was aiming for an upward break over $0.40. ADA gained 12% and broke through the $0.50 resistance level. 

## Bitcoin Price Rises

The Bitcoin price began to rise steadily after establishing a solid base at $28,500. BTC surpassed $30,000 and entered the positive zone. The next significant resistance level is at $30,500. A clear move above $30,500 may signal the start of a more rapid rise. It might rise to $32,000 in this case. On the downside, $29,500 provides immediate support. The major weekly support is at $28,500. 

## Ethereum Price Update

Ethereum's price stayed firmly over $1,700 and began a steady rise above the $1,850 resistance zone. On the flipside, immediate resistance is found at $1,920. The next significant barrier is at $1,950, over which the price might break $2,000 for the first time in months. If there is a downward correction, the market may find offers, around $1,820. The next big support is at $1,750. 

A co-founder of a cryptocurrency exchange stated that Bitcoin remains stable. Although, reaching its ultimate strength will take time, experts have observed.

Over the previous 24 hours, the overall cryptocurrency market volume has climbed by 4.74% to $53.47 billion.
Keep following Latest Moni from Moni Talks for the latest cryptocurrency price rise news, breaking market stories and blockchain insight.


Bitcoin Price and Ethereum Price See 24hr Rise

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