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The fact that there’s little evidence of any increase in the use of virtual money as a currency may be the reason there are minimal efforts to control it. The reason behind this could be simply that the market is too little for cryptocurrencies to justify any regulatory effort. It truly is also possible the regulators simply do not comprehend the technology and its consequences, awaiting any developments to act. Mining cryptocurrencies is how new coins are put into circulation. Because there’s no government control and crypto coins are digital, they cannot be printed or minted to produce more. The mining process is what makes more of the coin. It may be useful to think about the mining as joining a lottery group, the pros and cons are exactly the same. Mining crypto coins means you will get to keep the full rewards of your efforts, but this reduces your odds of being successful. Instead, joining a pool means that, overall, members will have a much higher chance of solving a block, but the reward will be split between all members of the pool, predicated on the number of “shares” won.

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