What is the latest in the Bitcoin mining world?

Bitcoin mining is getting more and more popular and difficult considering the traffic that has surrounded the world of cryptocurrencies. Today there are critical developments regarding this mining in the field of politics, technological advancements, and statuses of confidentiality. Our attempt is to bring to you the latest developments in Bitcoin mining which might help you make an informed decision regarding continuing/starting mining or letting it be. bitcoin mining latest news

Political Development


Venezuela has made an important decision recently regarding the number of people who have resorted to mining too much and end up spending a lot of electricity. The people describe the need of mining to come as an absolute necessity considering how the Venezuelan currency does not even have 1% of the value it had in 2012 left. The use of excessive electricity in operating GPUs resulted in the Government going on a crackdown and investigating individuals and pools they suspect of mining too much. It might be a difficult scenario for Venezuelans who finally had a more reliable currency, but the Government is correct in the thinking that such deregulated money will invite the growth of cartels which can challenge the state’s authorities.


Tech Developments

As mining becomes difficult and the mathematical functions become harder to determine, people are on the lookout for better ASIC processors which can help them work at a faster pace. Japan has answered this call for faster processors in the announcement from the GMO group which has claimed that it is working on a 7nm chip technology that will make the Bitcoin mining experience, unlike anything it had been before. Although these chips have not started being produced commercially, firms claim that the complete design will involve a very thin chip that has the ability to carry out complex calculations at an unprecedented rate thanks to the transistors it will entail. Megafirms like Samsung and Intel have already started investing heavily into these chips, and once they are out Bitcoin mining is sure to get pacier, and the problems given are likely to become more and more complex.


Confidentiality Development

Bitcoin mining has always been questioned for the lack of privacy it offers because every personal ledger is connected to a central one which can allow any dangerous party to get information regarding transactions and track down its victim. Blockchain networks have offered peer to peer communication but the problem still remains the same. This is where Microsoft and Ethereum Plasma have stepped in to create a peer to peer network which not only offers unprecedented confidentiality but also a much faster transaction processing speed, which means that there are likely to be no long waiting lists for transactions to be processed in the future and you will tend to get your currency after every successful mining problem you solve without the wait. These organizations are also looking for ways to have a centralized ledger with the public having access to information regarding their concerned parties only, and once this aspect is dealt with it is likely to transform the Bitcoin mining world forever.

27 Comments

  • Edwin Goldsmith March 2018 - Reply

    Been mining with slushpool since August 2017 . Since then the pool has grown by almost ten times the size . It seems slush pool is struggling to keep up with demand . My payout is less now on average than the difficulty would show that it should be. I’m gonna try a different pool for a month or so. Maybe eligius

    • Pat May 2018 - Reply

      On the surface Eligius does look better so I’ll give it a go as well. I agree that slushpool is getting a bit crowded and they pay is not as good as it once was.

  • Ridge Harris March 2018 - Reply

    It sounds like there are still security risks involved with Bitcoin mining, but there are also developments being made to enhance security. Whoever wrote this article did a good job of explaining the issues surrounding Bitcoin mining. I was intrigued by the discussion of Venezuela’s government and its concern with the new currency. I can see how nations are concerned of losing some of their power through the issuance of currency. I wonder what the long-term ramifications will be, both to cryptocurrency and countries.

  • Ramon McDaniel March 2018 - Reply

    So many happenings in recent one year regarding Bitcoin mining. Some nations are taking digital currency so seriously while other are busy in banning it and formulating more strict laws to give it a halt. Anyhow, everyday Bitcoin miners are on the increase and I have firm belief that no one can stop digital currency revolution.

  • Kamil March 2018 - Reply

    This will eventually lead to quantum computer mining however not many individuals will be able to afford such rigs due to the price. D-Wave 2000Q, the firm’s first 2,000 quantum bit (qubit) quantum computer is valued at $15 000 000 and I think currently the cheapest Quantum D-Wave Two model is going for around $10 000 000! Only large corporations have this kind of money to invest and then the question is “will it be worth it”?

    We have to consider that the difficulty is constantly increasing and even the 7nm chip will become obsolete when the ‘halving’ event occurs.

    This is another reason why it could be a great idea to buy and hold because each halving event will generate less BTC when a block is mined thus potentially skyrocketing the value of Bitcoin since it is limited to 21 million coins in total. It is estimated that by the year 2140 all Bitcoins will be mined. A long way to go and none of us reading this article now (2018) will be here 🙂

  • J. McClain May 2018 - Reply

    I’ve yet to join the bitcoin mining craze but I do enjoy keeping up to date with any news I can surrounding the subject. I find it interesting seeing how different countries react to it, and I wonder if it will eventually become international or will it someday disappear. Something to think about.

  • Natalie Wilkson May 2018 - Reply

    Fascinating articles. I can see so many risks with mining Bitcoin given the political climate in some regions of the world. Tech developments though are really helping to mitigate those risks and allow for more coins to be turned out. Interesting developments!

  • Stephen June 2018 - Reply

    Eligius is a better choice than Slushpool so check it out. You’ll rapidly see some big differences that will make you smile.

  • Frank Anderson June 2018 - Reply

    Man, there is so much to learn. I keep hearing this term “mining”, but I never actually knew what it had to do with when it came to cryptocurrencies. Learning and reading more news each week about mining and it is just something that I am not sure makes much sense to me still.

  • Vicki Thomas June 2018 - Reply

    Mining is taking off much faster than I ever though it might from the first point that I ever heard of it. Such a weird thing that may or may not make sense in the cryptocurrency market, but this new thing is creating a lot of millionaires and new jobs all around the world.

  • Ethan Martinez July 2018 - Reply

    I think it is nice to see confidentiality developing more and more here. Originally my main concern was the privacy issue.

  • Oliver Williams July 2018 - Reply

    Amazing to me about the people in Venezuela using so much electricity to mine bitcoin. It is so sad that they have been limited.

  • Ben Amstutz July 2018 - Reply

    I had no clue that Venezuela’s currency was so low! It makes sense that they are getting into a global currency like BTC or other cryptocurrencies.

  • Josh Sprunger July 2018 - Reply

    I guess I’m left with the question of how the Venezuelan government will be able to decide if an individual is mining too much… That doesn’t make much sense to me.

  • Rosa Dawson August 2018 - Reply

    Great article! I’m always fascinated by Bitcoin mining but never know where to get the latest information on it. Is it turn it’s still growing in popularity primarily in Eastern Europe? Curious if that’s a myth or not.

  • Kaison Johnston August 2018 - Reply

    Lot of tech developments in the Bitcoin mining world. I’ve read that mining is occuring at a much faster pace, and that even faster speeds can be expected in the feature.

  • Lacie September 2018 - Reply

    Im new to BTC and this helped explain a lot of my questions! Thanks!

    • Aaron Barrett December 2018 - Reply

      I felt the same way. This website has a lot of info!

  • Samia September 2018 - Reply

    The stuff about Venezuela is really interesting! I’ve never heard of that.

  • Katherine Lemay November 2018 - Reply

    This is all a brand new market to me, but one of the most confusing parts have been trying to understand what the hell Bitcoin MINING is.

  • Randy Baker November 2018 - Reply

    I just do not see the reason that someone would literally spend all that money on electricity just to get a few bucks. The time and effort versus payoff just seems small.

  • Robert Savage November 2018 - Reply

    Now that politics have been into the mining so heavily, things are not going to be good for the end user, consumer.

  • Peggy Tucker December 2018 - Reply

    Mining of the bitcoin is something that has gone away right? the overall costs are just not worth the return on any investment?

  • Nellie Booker December 2018 - Reply

    Here is some good advice. Bitcoin mining takes a lot of time and effort, but is hardly worth what you get back in actually money.

    • Brenda Dixon January 2019 - Reply

      That is what I am thinking, but how can so many out there try it out and make millions from doing it?

  • Ethel Dodson January 2019 - Reply

    I think the politics of the entire thing are what slows down the BitCoin’s and the other cryptocurrrencies out there. Once those hurdles are bypassed, it will be a much more open market.

  • Peggy Jones January 2019 - Reply

    I follow a lot of stocks and things like that, so I get alerts on my phone. I have never followed a regular stock that changed as much as BitCoin has in the last 12 months. How can anyone feel comfortable investing?

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