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News

There’s Only Four Million Bitcoin Left to Be Mined – Here’s Why Source: BITCOIN ECONOMICS APRIL 30, 2018 13:03 - 2018-05-01 00:00:00

The 17 millionth Bitcoin has been mined, and there are only 4 million left. The built-in artificial scarcity is one of the most important characteristics of the currency, and the reason for the high price – Bitcoin is rare!. Every ten minutes, a new Bitcoin block is created by Bitcoin miners, which is a subgroup of the people running computer nodes that keep Bitcoin operational. Powerful computers store all Bitcoin transaction data and update it as new transactions are added. Mining nodes are needed to verify transactions, and miners are rewarded for this with Bitcoin. Each new block of data (verified Bitcoin transactions) rewards the miners with 12.5 Bitcoins at the moment, meaning 1800 Bitcoins are created each day – but that won’t always be the case. MORE: https://www.ccn.com/only-another-four-million-bitcoin-will-be-mined-heres-why/

Cost Effective Mining with Dago-Mining https://viralcontent.kinja.com/cost-effective-mining-with-dago-mining-1826381189 (POST LINK) - 2018-08-29 00:00:00

Dago Mining is the first self-reliant, renewable and ecological mining grange. It deals in Green energy, Cryptocurrency like Bitcoin. The aim of this is to bring the mining sector in profit with efficiency. The first and foremost expenditure in this sector is energy price hike. To not rely on other energy institutions, it fabricates its own energy with a solar concentration thermal photovoltaic system. Dago mining is putting forward Blockchain and Cryptocurrency and helping miners in mining Bitcoin in an efficient manner. The Blockchain is an efficient and improved way to store a lot of different information in a single block. It’s a public decentralized account register of all transactions done for the cryptocurrency. Blockchain size is from 50 gigabytes to 100 gigabytes. The database comprises two types of records: transactions and blocks. Cryptocurrency is a digital resource which is used to complete the exchange via cryptographic technique. It provides maximum security to the transactions and also gives a full control over another currency’s realization. Varieties of cryptocurrencies are in use: Bitcoin, Litecoin, Ethereum, Dashcoin, Monero, Omisego, and NEO. All these have come into existence for a secure, independent and encrypted option of traditional currencies. Interdependence of blockchain and mining Bitcoin is that the digital currency coin is generated by the process of creating a series of blocks and the network nodes are called the miners, who awarded with these coins. To keep doing all these tasks on a computer, one needs energy on a large scale. As we want a clean and green world, we consider careful mining with green energy. To produce Green energy Dago mining has developed a photovoltaic system that acts like a sunflower, which always positions itself flawlessly towards the sun and collects energy. The best part of this system is that it’s easy to install and use, and in return get free green, efficient and renewable energy. It has made salt water batteries that can store heat and energy ecologically, allowing mining even at night. Besides, being environment-friendly, this solution is low maintenance in cost and spares us from any energy cost elevation in future. Excess energy produced is stored for night time use in the accumulators, when actually the energy is not being manufactured, thus making it more energy efficient and cost-effective. So, to summarize, this new technology produces a renewable energy which is combined with accumulators to make Dago, an independent and highly lucrative mining farm.