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The fact that there is little evidence of any increase in the utilization of virtual money as a currency may be the reason there are minimal efforts to regulate it. The reason for this could be simply that the marketplace is too little for cryptocurrencies to warrant any regulatory effort. It’s also possible that the regulators just do not comprehend the technology and its consequences, anticipating any developments to act. Mining cryptocurrencies is how new coins are put into circulation. Because there is no government control and crypto coins are digital, they cannot be printed or minted to create more. The mining process is what produces more of the coin. It may be useful to think of the mining as joining a lottery group, the pros and cons are precisely the same. Mining crypto coins means you’ll really get to keep the total benefits of your efforts, but this reduces your odds of being successful. Instead, joining a pool means that, overall, members are going to have greater potential for solving a block, but the reward will be divided between all members of the pool, according to the amount of “shares” won.
If you’re thinking of going it alone, it is worth noting the software configuration for solo mining can be more complicated than with a pool, and beginners would be likely better take the latter route. This alternative also creates a stable stream of earnings, even if each payment is small compared to completely block the reward.
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