Advanced Back to Basics

in #bitcoin6 years ago

s.jpg
Mining has come a long way since its humble beginnings, when computing power requirements were not so high and electricity costs for hundreds of mined Bitcoins were laughable. Times have changed, as has the technology. But, as much else in the world and by the laws of nature, everything returns to its source. As such, mining has also returned to its roots, but in a more advanced stated, having garnered the experience of the entire industry and morphed into a more advanced form.

We are now at the cutting edge of mining technologies that have evolved from rows of mining cards installed on wooden frames in poorly ventilated guest rooms to cloud mining facilities with computing power to rival NASA.

Everything had started with mining on CPUs, gaming video cards and then Asics. Certainly, the returns were not as high as many would have wanted and the technological limitations were set only by the price of the equipment that has grown only more expensive with the advent of new blockchain algorithms and more complex computations. These factors alone weeded out an immense number of miners who were incapable of competing with their more affluent counterparts.

In addition, the entry threshold needed to join the ranks of miners has seriously increased, as a simple user can no longer make a profit by setting up a Bitcoin mining farm at home. It simply will not work as computing power requirements will automatically translate into high electricity and other maintenance costs, making the process unprofitable.

And this is where the advent of cloud mining came to the rescue. Representing an association of miners who have pooled their resources into maintaining remote mining facilities, cloud mining has become a sort of panacea for those willing to be part of the crypto industry and yet unwilling to taste all of its bitter realities in the form of aggregated maintenance costs.

There are numerous advantages to cloud mining, as the members of the pool do not need to store the massive equipment at home and constantly monitor it. The pool organization, one like the Astra mining pool, takes care of the technical details, allowing the members to only receive the dividends in the form of Bitcoins hassle-free. It is all very simple, as members simply buy a contract and enjoy the rewards.

Despite its convenience, cloud mining was compromised by the negligence of many mining companies and their disregard for their communities. The greed and ignorance of the few has cost the confidence of the many.

And this is where we return to the source, enriched by our experience of the mining industry over the years. The Astra mining pool offers its users a model that combines all previous approaches in the form of an innovative solution with no compare. The aggregated mining equipment belongs to the pool, the open-ended contracts have no rivals in price, member shares are highly liquid, and the pool’s transparency and open dialogue with the community is unprecedented.

If mining ever were to evolve after having run its course of evolution, then the cloud mining approach offered by the Astra mining pool would certainly be its pinnacle and the most profitable offering the mining market had ever seen.

Sort:  

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

Coin Marketplace

STEEM 0.21
TRX 0.13
JST 0.030
BTC 66895.91
ETH 3499.24
USDT 1.00
SBD 2.89