Altcoins Talks - Cryptocurrency Forum
Learning & News => Announcements [ANN] => Tokens/Coins Offerings (ICO, IEO, etc.) => Topic started by: Kryptarion on March 27, 2020, 10:42:30 PM
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China has been the major source of mining power used by mining farms
The sudden fall in the prices of crypto coins has risen concerns over the feasibility of mining operations. Although, mining operations are still lucrative in few parts of the world; slump in the price of Bitcoin has made way for diversification in the mining industry by allowing the establishment of mining farms in countries where electricity cost are lower than in China
Better services — New opportunities (http://www.arciris.org/)
Since the beginning of 2019, the prices of bitcoin has allowed a number of mining companies to control a huge portion of the network’s hash rate. And while competing mining farms offered reduced fees and better ROI, the major and established mining farms out-marketed new entrants; moreover, the major farms had the cash flow to very easily grow their hash rate, thereby scaring off new entrants.
And of course with mining, the hash rates are not rising but depreciating.
Since the market leaders have become complacent and no longer improve on their mining farms, new market participants are encouraged to enter the market with confident, knowing that they can also share from the hash rate. Few of these new mining companies have been smart enough to launch their operations in countries with low electricity cost — this has allowed them to be able to compete with the giants of the mining industry.
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Moreso new mining farms are implementing disruptive strategies such as low fees, provision of better service, and adopting latest environmental friendly methods of mining cryptocurrency
Arc Iris, is a new mining operation startup that aims to lead the shift to a more globalized presence in mining industry. The mining project is going to be utilizing a technology that will drastically reduce both cost and effect of using electricity to power mining operations. The project aims to use hydrogen mining method, this method will open its users and investors to some unique set of amazing benefits.
The Current Status Quo of the Mining Industry (http://www.arciris.org/)
Major mining establishments have enjoyed the lack of genuine competition for a long time. This has allowed them to control a hefty percent of the mine’s block rewards, charge high fees in their mining operations and even keep transaction fees from block rewards.
AntPool
This company has asserted its dominance over the market and kept competition at bay for a long time by mounting several rigs to monopolise the market. This has allow them to not only control 2.5% of block rewards, but also keep transaction fees.
BTC.com
BTC.com has kept the completion on with AntPool. Although the company doesn't charge 2.5% on block rewards, other fees by BTC.com which adds up to 4% are more than what AntPool takes.
F2Pool
Contrary to what the name may suggest, being a part of this pool is nothing close to free. The pool takes 3% of block rewards and also hold on to the transaction fees.
Arc Iris to deploy strategies that attract investors and breaks into the market (http://www.arciris.org/)
New market entrant; Arc Iris, is keen on boosting the quality of their service in order to command increased market share. Hence, they keep their mining operations up-to-date with the latest equipments
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More importantly, Arc Iris is ensuring that the hash rate is not concentrated in only one country as they plan to build more farms and mount more mining rigs across the world. This will enable them to utilise many opportunities that are available across the globe.
For instance, Arc Iris, takes advantage of the incredibly low energy and eco-friendly hydrogen mining. Through this method, Arc Iris is able to significantly reduce the operation cost significantly for the miners thereby increasing their mining profit. Operations remain very profitable for Arc Iris even if the current price of bitcoin forces some major mining companies to barely break-even.
WEBSITE (http://www.arciris.org/) | WHITEPAPER (https://www.arciris.org/WHITEPAPER.pdf) | | TELEGRAM (https://t.me/arciris_community) | TWITTER (https://twitter.com/ArcIrisofficia1l)
Telegram: https://t.me/@Kryptarion1
BTT: RANIE
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Great idea by Arc Iris. mining platform. But I have doubt that whether mining is profitable in this low market price situation. So, I will invite to join koinpro exchange and trading platform. Trading is the best way to multiply your cryptocurrency.
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Great idea by Arc Iris. mining platform. But I have doubt that whether mining is profitable in this low market price situation. So, I will invite to join koinpro exchange and trading platform. Trading is the best way to multiply your cryptocurrency.
U have a good point about the market being in a low sate. However, mining can still be very profitable. Considering that the market will not continue to stay like this. It is almost a guarantee that the crypto market will surge back up and mining will become more profitable. I personally think it is better to acquire when the price is low. People can mine and keep their tokens until the market is good before selling.
Thanks for your comment anyways