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The fact that there’s little evidence of any increase in using virtual money as a currency may be the reason why there are minimal efforts to control it. The reason for this could be just that the market is too little for cryptocurrencies to justify any regulatory attempt. It truly is also possible that the regulators simply don’t comprehend the technology and its consequences, anticipating 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 make more. The mining process is what produces more of the coin. It may be useful to consider the mining as joining a lottery group, the pros and cons are just the same. Mining crypto coins means you’ll get to keep the total rewards of your efforts, but this reduces your odds of being successful. Instead, joining a pool means that, overall, members are going to have higher chance of solving a block, but the benefit will be split between all members of the pool, depending on the amount of “shares” won.

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