Altcoins on the Rise to be showing signs of recovery, with Bitcoin up again by 7%. Its weekly gains have been around 13%. If the trend persists, it might make the highest gains in the last nine months, i.e., since October 2021.

This will be welcome news for cryptocurrency investors who have been waiting for the green shoots of recovery in the markets.

As of 8 July 2022, the price of Bitcoin is close to $22K ($21,780.04) as per [CoinMarketCap](https://coinmarketcap.com/currencies/bitcoin/). Moreover, the global cryptocurrency market cap today is around $960.69 billion. There has been an overall 5% surge in the global market cap.

In addition, the recent reassurance by the US Federal Reserve regarding recession has positively impacted both traditional and crypto markets. Consumer confidence has increased, and BTC's fear and greed index has increased to about 20 points.

## Altcoins on the Rise

Altcoins are also making significant gains as the overall crypto market is turning green. Ether, the second-largest cryptocurrency by market cap, has seen a 5% surge. However, the main reason behind its rise is the successful [Ethereum Sepolia Testnet merger](/news/article/ethereum-testnet-success).

Moreover, Litecoin (LTC) is also seeing a positive rally as its price has surged to $51.90 with an over 3% increase. The Binance Coin has been up by 7% in the last week and is trading at around $237. Meanwhile, Dogecoin and Shiba Inu also made notable gains. 

## Bitcoin Up Again

With Bitcoin  increasing in value again, we must ask, is it the end of the macro downward trend? That's what investors are hoping for.

Nevertheless, crypto analysts suggest that a small surge and the downward trend will likely continue. [@Roman_Trading](https://twitter.com/Roman_Trading/status/1545064421122269184/photo/1) explains that the hike follows similar patterns of the past eight months.

![wasay.webp](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/wasay_c446773d29.webp)
 
Another analyst, @gilbertocrypto1, observes that this Bitcoin surge could be bullish if the price crosses the $23K mark. However, as of now, the overall trend is still downward.



Crypto Market Turns Green: Bitcoin Up, Altcoins Making Significant Gains Too

Despite the company's significant efforts to obtain clearance, the SEC denied Grayscale Investments' approval to transform its $13.5 billion [Grayscale Bitcoin Trust (GBTC)](https://cointelegraph.com/news/breaking-grayscale-launches-legal-challenge-to-bitcoin-spot-etf-rejection) into a spot-based bitcoin ETF on Wednesday.

The decision follows the SEC's rejection of Bitwise's application for a spot bitcoin ETF on Wednesday.

After a protracted struggle to convince the SEC that the product had enough investor security, the refusal is a blow not only to Grayscale but to the whole cryptocurrency industry.

## The significance of a BTC spot ETF in the U.S. markets

The significance of a Bitcoin based spot ETF being available on the listed U.S. markets cannot be overstated. It would mean that institutional and everyday investors could buy and sell Bitcoin like any other security on the market.

This would give institutional investors more confidence in the market and could help to fuel the next bull run. It would also make it much easier for average people to invest in Bitcoin, which could help further mainstream adoption.

## Why was Grayscale's BTC trust spot ETF approval denied?

Grayscale's BTC Trust Spot ETF application was recently rejected by the SEC. The reason behind the rejection is:

1) The SEC is concerned about Bitcoin's volatility and its potential to cause market instability.
2) The SEC is concerned investors would lack sufficient protections under the Grayscale proposal.

## Grayscale's legal action
 
In October 2021, Grayscale filed to have its Bitcoin Trust known as GBTC, become an ETF, but the decision was repeatedly postponed. Grayscale has increased pressure on the authority to support it, including by providing a means for individuals to email their support immediately.

In a petition, Grayscale promptly challenged the SEC's judgment to the U.S. Court of Appeals for the District of Columbia Circuit. Donald B. Verrilli Jr., a former solicitor general of the United States, is Grayscale's senior legal strategist and is leading a group of lawyers from Davis Polk & Wardwell in this case.

According to Verrilli, the SEC is "failing to apply consistent treatment to similar investment vehicles, and acting arbitrarily and capriciously in violation of the Administrative Procedure Act and Securities Exchange Act of 1934."

SEC Chair Gary Gensler has repeatedly stated that he wants to see greater control of cryptocurrency exchanges before authorising a BTC spot ETF.

The focus of investors and cryptocurrency experts will now shift to what Grayscale can and will do to secure permission for conversion. On June 27, CEO Michael Sonnenshein stated that the business will be "preparing for all possible post-ruling scenarios." On the same day, Grayscale also said that if its application were to be approved, it would work with market makers Virtu Financial and Jane Street to assist in turning GBTC into an ETF.

Stay tuned with [Moni Talks](https://monitalks.io/news) for the latest crypto news.


Grayscale sues SEC for denying BTC ETF approval

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

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?

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 

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

Tricksters behind the Bitcoin Trader scam have been exploiting pictures of celebrities from the hit TV show Dragon's Den to attract gullible investors to invest.

It is a scam. The pictures and false quotes have attracted investors into a get-rich-quick [bitcoin](/coins/btc) scam on websites and social platforms.

Let's discuss in detail the Bitcoin Trader scam.

## What is Dragon’s Den?

[Dragons' Den, produced by the BBC](https://www.bbc.co.uk/programmes/b006vq92), is a popular UK reality TV show. Promising entrepreneurs put their business visions to professionals and ask for investments.

The show features a board of investors known as "dragons" who are ready to place their own money in potential business visions.

## What is the Bitcoin Trader Scam?

The Bitcoin Trader scam is a phony investment opportunity that falsely asserts that it is connected with the famous BBC show. The scam has distinct versions, but all share one common trait; they ask for money from unsuspecting investors in trade for a fake investment option.

Tricksters draw gullible investors into trading with their money by manipulating pictures of celebrities from the TV show on websites and social media platforms.

The Bitcoin Trader scam is an example of how phony sites exploit the names of renowned public figures, superstars, and TV shows to encourage a get-rich-quick strategy. It's not a genuine investment opportunity, but something to trick innocent people and take their money by luring them with false promises.

Some of the well-known false claims from the Bitcoin Trader scam include:

•	A phony news report asserting Deborah Meaden, one of the investors on Dragons' Den, made a £250,000 investment in bitcoin. It is not true.
•	A bogus interview with Sarah Davies and Jenny Campbell, two new investors on Dragons' Den, asserting they had invested in bitcoin. Again, it's completely fake.
•	A fake interview with Peter Jones claimed he was initiating a bitcoin investment program after witnessing the get-rich-quick bitcoin scheme. This is also false.
•	Last, but not least, Theo Paphitis is said to be backing bitcoin as a lucrative cryptocurrency on the Dragon's Den show. This, too, is phony.

## In Summary

Bitcoin Trader is a scam. It's a phony get-rich-quick system that falsely promises investors enormous profits within a short span.

It is not legal.

Advances in technology bring advances in digital fraud, and cryptocurrency is not immune. Investors should conduct thorough research of the website or social media platform before investing their money.


Bitcoin Trader Scam: Dragon's Den

If you've been searching for a Bitcoin Code review, this article might help.

Nowadays, seeing how much profit it earned some individuals, many people want to get into crypto. Of course, when talking about cryptocurrencies, the first that comes up to one's mind is bitcoin.

The possibility of growing a passive income by trading [bitcoins](/coins/btc) has become very attractive lately. However, numerous auto trading platforms already have bad reviews, so people are being much more cautious about investing. It is hard to evaluate which trading platform is legit and which is a scam.
Bitcoin Code is an auto trading platform for cryptocurrencies that promises "insane returns" and "great profits" with "just a few minutes of work".

As we already mentioned, there is no real way to be sure whether something is a scam or not. The Bitcoin Code is known and has its own growing community of users who claim the scheme has been more than lucrative.

We have witnessed the evolution of different auto trading platforms, such as Bitcoin Revolution, which also has trading robots doing everything for the client.

With Bitcoin Code, everything seems pretty much the same. The user deposits money and then activates the live trading feature and sets stop-loss limits. 

The bots do everything else, such as market analysis, placing orders, and performing transactions.

## What is the Bitcoin Code?

The Bitcoin Code is usually described as an automated trading platform that trades for the client. 

The math seems simple - buying low, selling high. With only a $250 deposit and relying on a sophisticated, 99.4% accurate algorithm, the robot tracks the crypto market and trades 0.01 seconds ahead of market movements.

There is an option of performing manual trades as well, but it's available only to clients with intermediate knowledge of how manual trading works.

## Is it a Scam?

As we already mentioned, it is easy to believe that one can get rich over the night by investing only $250. However, everyone with a little bit of "Poirot" in them can see that Bitcoin Code is a scam.

Everything, including a photo of Bitcoin Code's alleged creator Steve McKay, is fake.

The photo of the alleged multi-millionaire who "has featured on the cover of Forbes magazine" and claims his team can help you "earn a guaranteed $13,000 in exactly 24 hours", is a photo of a rented actor from e-gig website [Fiverr](https://www.fiverr.com/banjoman15).

Also, if you try and look it up on Google, most search results will give the Bitcoin Code good reviews and claim it's the "real deal".

However, if you ask Facebook, things are definitely darker than it looks. Back in 2018, the company had to remove fake Daily Mirror ads stating Martin Lewis, of Money Saving Expert, had made a fortune from Bitcoin Code.

Mr. Lewis is now suing Facebook, which was paid to publish the fake adverts.

Steve McKay, therefore, never has been on "Dragon's Den" or in Forbes. This is a group of crypto scammers, and Steve McKay doesn't exist.
Every trading scheme with his name turned out to be an investment scam that is better to avoid.

However, this scheme isn't illegal per se. Because the client willingly gives their assets (whether it's $250 or even more) and is warned about the potential risks of trading – this cannot be charged as illicit activity.

The only real advice would be that if you want to try legit cryptocurrency trading, you should try some free demos with virtual money and do your own research before making any investment.


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