Summary Explanation: What is Bitcoin Mining

Bitcoin miners use specific software to solve math problems. They are issued bitcoins in exchange. Sounds good, but there is no central place or government for bitcoin regulation. With paper money, the government decides when to print and distribute money. Bitcoin miners keep the Bitcoin system protected by supporting dealings.…

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Can Derelict Power Stations Solve Bitcoin’s Energy Crisis?

The last few months have seen a growing concern over the environmental costs of mining Bitcoin . As the computational requirements of mining the signature cryptocurrency become increasingly demanding, the system has begun to approach a dramatic tipping point. Citigroup recently reported that for mining to remain marginally profitable, Bitcoin’s…

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American Express and Ripple work Together for Instant Blockchain Payments

NOTE: Ripple’ same day increase was over 10% recently due to their partnering with American Express. Instant blockchain-based based payments have been instigated by American Express. They are using Ripple, a fintech startup, to help U.S. commercial customers pay funds to U.K.-based businesses that bank with Santander…

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False Reports of Bitcoin Mining Ban in China, Miners Continue, Volume has Fallen

It is rumored that bitcoin and cryptocurrency mining is banned in China. Local miners have stated that although the volume is down, mining is not banned yet. Rumors and Unsubstantiated reports The secret to China’s success in profitable mining operations is cheap electricity. However, Sichuan Electric Power Company released…

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