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The fact that there’s little evidence of any increase in the utilization of virtual money as a currency may be the reason why there are minimal attempts to regulate it. The reason for this could be merely that the marketplace is too small for cryptocurrencies to justify any regulatory effort. Additionally it is possible that the regulators simply don’t comprehend the technology and its consequences, awaiting any developments to act. Mining cryptocurrencies is how new coins are placed into circulation. Because there is 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 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 full rewards of your efforts, but this reduces your likelihood of being successful. Instead, joining a pool means that, overall, members will have a greater possibility of solving a block, but the benefit will be divided between all members of the pool, depending on the number of “shares” won.
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