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Author Topic: Mining In Crypto And Its Recent Ideals.  (Read 2363 times)

Offline MetaAttorney

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Mining In Crypto And Its Recent Ideals.
« on: May 24, 2024, 04:18:30 PM »

Crypto mining is one of the oldest mechanisms in the blockchain space. The framework of mining has been used to achieve several purposes in a bid to drive mainstream crypto adoption as well as enhancing transactions.

As it should be, mining has taken a next level turn along the tide of cryptocurrency developments, a lot of new innovations have taken place within the mining framework; like some projects using POGE mechanism to ensure eco friendly Blockchain.

I'd gladly accept any recommendations on Mining projects I may find useful. Thanks.


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Mining In Crypto And Its Recent Ideals.
« on: May 24, 2024, 04:18:30 PM »

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Re: Mining In Crypto And Its Recent Ideals.
« Reply #1 on: June 18, 2024, 04:29:46 PM »
Miner Marathon Digital Holdings has entered into an agreement with the Ministry of Energy and Petroleum of the Republic of Kenya to set up data centres using renewable energy - Marathon will invest around $80,000,000.

P.S. What do you think about this? No matter what anyone says, the popularisation of mining is in full swing.

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Re: Mining In Crypto And Its Recent Ideals.
« Reply #2 on: July 09, 2024, 09:49:23 AM »
China has commissioned the world's largest solar power plant - the system was built in the Takla-Makan desert, spending almost $2.3 billion. It will produce more than 6 bln kWh, which is comparable to the consumption of a small country, such as Armenia or Latvia.

P.S. I find the scale impressive. Believe me, this is just the beginning - the further you go, the cooler it will be. Now let's imagine for a minute if we get the miners involved? I think you get my message.  ;)

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Offline hugeblack

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Re: Mining In Crypto And Its Recent Ideals.
« Reply #3 on: July 09, 2024, 11:04:43 AM »
As it should be, mining has taken a next level turn along the tide of cryptocurrency developments, a lot of new innovations have taken place within the mining framework; like some projects using POGE mechanism to ensure eco friendly Blockchain.


What do you mean by POGE mechanism and what are the criteria for mining to be environmentally friendly?
These terms are used in public relations campaigns, but in the end, mining is an activity that requires electricity. If its sources are clean, then it will be clean, and vice versa. It also produces waste from electronic devices, just like data centers and old computers. The problem is not related to Bitcoin specifically, but rather to how we manage resources.
This activity is completely different from activities that are harmful to the environment, such as greenhouse gases, coal, and refrigeration.
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Re: Mining In Crypto And Its Recent Ideals.
« Reply #4 on: July 14, 2024, 08:34:03 AM »
Bitcoin miners sold over 30,000 BTC (~$2 billion) in June, a record high this year as miner inventories fell to their lowest level in 14 years. The latest halving has depressed profits and triggered a sell-off, especially for smaller miners with little margin of safety.

Source link: https://x.com/WuBlockchain/status/1804692050354569390
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Re: Mining In Crypto And Its Recent Ideals.
« Reply #5 on: July 16, 2024, 04:21:09 PM »
Bitcoin miners sold over 30,000 BTC (~$2 billion) in June, a record high this year as miner inventories fell to their lowest level in 14 years. The latest halving has depressed profits and triggered a sell-off, especially for smaller miners with little margin of safety.

Source link: https://x.com/WuBlockchain/status/1804692050354569390
I used to think that mining was profitable as long as the price was above $60,000. Thus, many miners are not forced to sell what they have or stop their mining equipment.
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Re: Mining In Crypto And Its Recent Ideals.
« Reply #6 on: July 17, 2024, 10:55:04 AM »
As it should be, mining has taken a next level turn along the tide of cryptocurrency developments, a lot of new innovations have taken place within the mining framework; like some projects using POGE mechanism to ensure eco friendly Blockchain.
What do you mean by POGE mechanism and what are the criteria for mining to be environmentally friendly?

He refer to Proof of Green Energy (PoGE) mechanism. But from quick read, i don't know how it can verify the "greenness".
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Re: Mining In Crypto And Its Recent Ideals.
« Reply #6 on: July 17, 2024, 10:55:04 AM »


Offline Stompix

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Re: Mining In Crypto And Its Recent Ideals.
« Reply #7 on: July 17, 2024, 04:11:37 PM »
I used to think that mining was profitable as long as the price was above $60,000. Thus, many miners are not forced to sell what they have or stop their mining equipment.

There is no universal profitable price, some might not be able to mine even at 70k, some will have no hiccups even at 20k, it's all about how much you pay for energy if your gear has been paid off or not and how many other costs you have.
Besides, even if you're profitable at 60k  now you might now be in two months if others invest in miners and bring the difficulty up.

The cost to mine a bitcoin is just one of those metrics on which you can make 100 articles, but it is not so important.



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Re: Mining In Crypto And Its Recent Ideals.
« Reply #8 on: July 23, 2024, 12:04:01 PM »
There is no universal profitable price, some might not be able to mine even at 70k, some will have no hiccups even at 20k, it's all about how much you pay for energy if your gear has been paid off or not and how many other costs you have.
Besides, even if you're profitable at 60k  now you might now be in two months if others invest in miners and bring the difficulty up.

The cost to mine a bitcoin is just one of those metrics on which you can make 100 articles, but it is not so important.
Typically, the data related to the average price per BTC mined that we have is only for reference when making investment decisions, it is often not directly related to the expansion or contraction of the scale of mining farms. Each miner will need to calculate and make decisions based on labor, rental costs, machine maintenance and electricity purchases.

I used to only care about the selling pressure from miners, but now they are no longer playing a very important role in the crypto market. The advent of Spot BTC ETF has changed a lot, and BTC ETF itself has played a more important role than miners in determining the buy-sell pressure on the OTC market.

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Re: Mining In Crypto And Its Recent Ideals.
« Reply #9 on: July 24, 2024, 10:10:29 AM »
I used to only care about the selling pressure from miners, but now they are no longer playing a very important role in the crypto market.

You see, there is something amiss with this, if the price more than doubles every cycle then the amount of coins in USD value that are mined each day grows, so you will need more and more $ to cover up that inflation.
450 coins mined how have more impact than 900 coins mined in late 2023.


 

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