news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Emergency ♦️ बंद हो गया था Binance ⚠️ | Crypto News Today | Cryptocurrency | Bitcoin

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

    Top 3 Crypto Binance Upcoming Listing | top cryptocurrency to invest in 2023 | Crypto news today |

No Result
View All Result
news4global
No Result
View All Result
Home Blockchain

How Mining Pools Adapt To Changing Market Conditions

April 6, 2022
Reading Time: 3 mins read
0
How Mining Pools Adapt To Changing Market Conditions
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

How to Create a Pi Network Account – BSC NEWS

February 4, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Introducing Proof Of Memes: The Ultimate Memecoin Blockchain … – Bitcoin News

February 3, 2023

Miners need to be flexible to changes in the market, including global cultural differences and adversarial legal frameworks when countries ban Bitcoin.

Mining pools are important to the Bitcoin ecosystem because they allow small bitcoin miners to collect rewards for their hash rate. Small-time miners are very unlikely to find a block and receive the block reward on their own. Mining pools improve the chances of individual miners finding a block because the pool groups the hash rates of all the miners in the pool, acting as one big miner.

A group of mining pool specialists sat down together at the mining stage at Bitcoin 2022 to discuss the state of mining pools and ways that the pools are evolving for both retail and industry miners. The panel consisted of Leo Zhang, the founder of Annica Research, Nick Hansen; the CEO and co-founder of Luxor; Jay Beddict, the director of research at Foundry; Denny Xing, the business development manager of Poolin; and Edward Evenson, the head of business development at Slush Pool and Braiins.

The (Mining) Pool Boys panel at Bitcoin 2022.

The panelists started off discussing the major changes that occurred due to hash rate migration. Panel moderator Zhang said, “The past year has been a very interesting year in the distribution of the mining industry, especially with the China ban.”

After the China ban, “Companies had to prepare for a large influx of American hash rate,” said Hansen.

Xing expanded on this idea when he said, “You see the migration of hash rate not only from China, but Kazakhstan and Ukraine. Stability and security will be an important factor for hash rate and that’s why people are moving to the U.S.”

The conversation evolved to discussing renewables. Xing said, “People are calling for renewables and reusing the heat from mining which is new for us.”

Evenson elaborated, “The narrative used to be that bitcoin was funding terrorists and criminals and now it’s that bitcoin mining is boiling the oceans.”

But the desire for renewables is not limited to wind and solar power. Beddict shared, “Foundry does advising work and we are certainly seeing more interest from those [renewables] groups, but what’s more interesting to me is the flare gas.”

Evenson added, “The recent trend is pools trying to be ‘green pools.’ It makes more sense to me for that to be done on the miner level because mining pools don’t consume very much energy.”

After a short discussion about green energy, the panelists moved on to talk about cultural variance between Chinese and American miners. Hansen said, “One of the biggest differences between Chinese miners and American miners is treasury management. It seems like most of the American miners are trying to hold the bitcoin. For Chinese miners, it seems like they’re trying to at least sell to cover their operation expenditure.”

In addition to cultural differences, there are regulatory differences that impact hash rate and where miners choose to set up their operations. Hansen spoke about OFAC compliance, “The market seemed to indicate that maybe an OFAC compliant pool would be desired, but it quickly became clear that that was not the case and the pool switched back.”

Beddict added, “Over-complying will lead to a more negative outcome. By participating in the bitcoin mining network, by putting a block on top of another one, you are providing security to all the transactions before it.” 

This means that even if a block is mined within OFAC compliance, the previous as well as the following blocks will contain non-OFAC compliant blocks within the chain, rendering the OFAC compliant block pointless. Zhang concluded, “There’s a lot more money, there’s a lot more interest to push for a more friendly regulatory environment.”

At the end of the conversation, all of the panelists expressed excited about the Stratum V2 protocol being further developed.

Bitcoin 2022 is part of the Bitcoin Event Series hosted by BTC Inc, the parent company of Bitcoin Magazine.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Share76Tweet47

Related Posts

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

How to Create a Pi Network Account – BSC NEWS

by admin
February 4, 2023
0

How to Create a Pi Network Account  BSC NEWS

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Introducing Proof Of Memes: The Ultimate Memecoin Blockchain … – Bitcoin News

by admin
February 3, 2023
0

Introducing Proof Of Memes: The Ultimate Memecoin Blockchain ...  Bitcoin News

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Billionaire Draper Pitches Sri Lanka on Bitcoin, Gets Rejected – Bloomberg

by admin
February 3, 2023
0

Billionaire Draper Pitches Sri Lanka on Bitcoin, Gets Rejected  Bloomberg

The Worldwide Blockchain Technology in Healthcare Industry is Anticipated to Reach $126 Billion by 2030

Rising Demand for Transparent Transactions in the Retail Industry Drives Growth

by admin
February 2, 2023
0

DUBLIN, Feb. 2, 2023 /PRNewswire/ -- The "Blockchain in Retail Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast...

WEMADE and Metagravity Sign Strategic Alliance MOU to Collaborate on Blockchain Games for the Metaverse

WEMADE and Metagravity Sign Strategic Alliance MOU to Collaborate on Blockchain Games for the Metaverse

by admin
February 2, 2023
0

" The Office: Somehow We Manage offers players the chance to immerse themselves in iconic moments from the series and...

Load More
  • Trending
  • Comments
  • Latest

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Latest Crypto News: Binance Cuts Ties With Indian Crypto Exchange WazirX, Filecoin Creator Protocol Cuts Staff Strength By 21% – Outlook India

February 4, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Bitcoin (BTC) Price Prediction 2025-2030: BTC may be in trouble if resistance isn’t breached – AMBCrypto News

February 4, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Ray Dalio says Bitcoin is not the answer; the community responds … – Investing.com

February 4, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

The Best Presales In Recent Crypto History: Big Eyes Coin, Calvaria … – NewsWatch

February 4, 2023

Latest News

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Latest Crypto News: Binance Cuts Ties With Indian Crypto Exchange WazirX, Filecoin Creator Protocol Cuts Staff Strength By 21% – Outlook India

February 4, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Bitcoin (BTC) Price Prediction 2025-2030: BTC may be in trouble if resistance isn’t breached – AMBCrypto News

February 4, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global