Lately, a lot of people who think of cryptocurrency as a financial asset is quite valuable. It is not without reason. The high volatility of cryptocurrency causes many speculators to be interested in this virtual asset. In contrast to the stocks or forex stocks, the fluctuation rate of cryptocurrency can be said to be very profitable to gain large capital gains.
In addition, the increase in bitcoin value in the past few years, makes some people become tempted to earn profits on this virtual asset. In fact, there are two common ways to make a profit on cryptocurrency. The first way is to trade, by buying a cryptocurrency asset at a low price and selling it at a high price. This method requires analysis of price movements on the market.
The second way is to mine cryptocurrency. It may sound a bit strange to those of you who just want to learn the ins and outs of cryptocurrency. Like other commodities (such as gold, silver, bronze, petroleum, and coal) cryptocurrency can be obtained by “mining”. The difference is if in the real world mining activity is done by dredging in a location to get a certain commodity, the cryptocurrency activity is done in cyberspace.
Simply put, cryptocurrency requires a large resource (electricity and computer technology) to complete a transaction. but because this cryptocurrency exists not by a company or a central bank, the existing settlement is done by the miner himself. Every transaction that the miners have successfully completed will earn a small portion of the coin. And the good news, everyone can participate in becoming a miner of origin has the necessary resources.
Electricity is the Biggest Resource in Crypto Mining
The increase in market capitalization of Bitcoin as one of the most sought-after cryptocurrencies currently stands at $ 500 billion USD in other word reaches 2000% by 2017. This increase triggers the rise of mining miners. In March of 2017, total use of electricity consumption for Bitcoin even surpassed Singapore as a whole. Where Singapore is the country with the level of the use of the most energy electricity to-43 in the world.
This number is predicted to continue to increase, even the increase in the next year is predicted to occur exponentially. Surely if this is allowed to continue, it will lead to new and greater problems. Especially with regard to the environment.
As we know today the majority of electricity production still uses petroleum and coal power. The increase in electricity consumption will eventually increase the level of consumption of petroleum and coal. Given the limitations of these two resources, cryptocurrency mining should begin to be revised.
Is there a More Friendly Resource for Cryptocurrency Mining?
As far as we know the use of electricity for cryptocurrency mining is mostly still using conventional power sources. But there is a company that currently uses energy from waste households and plantations.
The company, called 4NEW (https://4new.io/), has a workaround using household waste and agricultural waste. The existing wastes will be distilled into the water and will generate electrical energy that can be used for mining token purposes. The cost of producing this energy corresponds to the amount of energy produced.
Currently, 4NEW is in the Initial Coin Offering (or commonly known as ICO). Where ICO is the initial sale of tokens that will be sold in the market. You will get an initial price offer before the token goes to the market or commonly called an exchange market.
It is also a way of profiting from the world of cryptocurrency. That is buying at the initial price, and when the coin or tokens that you buy increase, it is an advantage for you as an investor. For more info you can visit 4NEW’s own website at the address below:
My Bountyhive Username : fayndeco (bountyhive.io/r/fayndeco)