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SmartGold - Сryptocurrency - Сryptocurrency trade - Mining cryptocurrency - Ico cryptocurrency|5:43

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Coin Market Cap lists all cryptocurrencies by market capitalization in descending order. Listed below are the top 10 cryptocurrencies according to their respective market cap.
1. Bitcoin.
Market cap - $177.153 billion.
Market share - 68.23%.
To think that the market cap of Bitcoin was just $1.02 billion in 2013 shows how fast Bitcoin has risen in value.
2. Ethereum.
Market cap - $22.255 billion.
Market share - 8.77%.
Ethereum remains the most valuable cryptocurrency after Bitcoin. This stems from its broad user base and unique source code that allows users to create decentralized applications and smart contracts that run on blockchain technology.
3. XRipple.
Market cap - $8.829 billion.
Market share - 3.48%.
XRipple as a cryptocurrency was created to speed up financial transactions across borders. To achieve this, the mining process was eliminated. Also, all XRipple transactions are validated by just 25 nodes that act as a group of companies and investors of Bitcoin. Another amazing feature of the cryptocurrency, as revealed by crypto statistics, is that up to 1,500 transactions can be processed per second.
4. Tether.
Market cap - $8.805 billion.
Market share of 3.47%.
Tether was created to tackle the volatility of top cryptocurrencies like Bitcoin and Ethereum. It serves as a medium of exchange between fiat and cryptocurrencies. In other words, its value in the market is tied to that of the US dollars. Top exchanges around the world are already accepting Tether as a form of dollar replacement.
5. Bitcoin Cash.
Market cap - $4.381 billion.
Market share - 1.73%.
Bitcoin Cash (BCH) is a fork of Bitcoin and has a faster transaction time than Bitcoin. Its block is larger and can carry out more transactions per second compared to Bitcoin. Transaction fees using BCH is also lower compared to Bitcoin.
6. Bitcoin SV.
Market cap - $3.47 billion.
Market share - 1.37%.
Bitcoin Satoshi Vision is a fork of BCH and the goal of its owners is to bring back a cryptocurrency that is as close to the original vision of Bitcoin conceived by Satoshi Nakamoto. According to cryptocurrency growth statistics , it has since gone on to become one of the most valuable cryptocurrencies in the market.
7. Litecoin.
Market cap - $2.808 billion.
Market share - 1.11%.
Litecoin was created to function as a means of online payment like PayPal, Payoneer, etc. Users can make use of the Litecoin PayPal gateway to transfer funds across borders just like PayPal. So far, about five debit card providers have integrated Litecoin as means of payment into their services.
8. Binance Coin.
Market cap - $2.511 billion.
Market share - 0.99%.
Binance Coin was created by the owners of the Binance exchange , one of the biggest exchanges in the world. The coin allows users to pay for services on the binance platform.
9. EOS.
Market cap - $2.437 billion.
Market share - 0.87%.
According to cryptocurrency facts , the EOS system was created to function as a platform where users can both develop and host decentralized applications on a commercial scale like the Google Play Store and Apple App Store. The EOS token is what users need to run various services on the EOS network.
10. Tezos.
Market cap - $1.804 billion.
Market share - 0.70%.
Tezos is a system that functions with blockchain technology just like many other cryptos. The only distinguishing factor about Tezos is that it gives its users the power to propose changes to the system. If a user's proposed change is approved by stakeholders, that user gets a reward.
The world of cryptocurrency is vast and ever changing.
Cryptocurrency statistics show that the crypto market is expected to grow even further once there is mass adoption and more lenient regulations from government bodies. Who knows what surprises we're about to witness.
Is your business harnessing the powers of the cryptocurrency market already?
Sources.
Finder Coin Dance Coin Cassco Data Prot Block Social Statista Statista Statista Statista Buy Bitcoin Worldwide CNBC CNBC Coin Telegraph Coin Telegraph Coin Telegraph Investopedia Investopedia News Logical News Bitcoin Your Tech Diet Forbes Born2Invest Next Gov PR News Wire Coin Market Cap Lykke Consen Sys Coin Central Coin Desk.
by Jacquelyn Bulao.
I am a natural-born connector, known for long-standing and effective business partnerships. I am fuelled by my passion for human resources and my genuine love of connecting with others. To date, my knowledge & determination to transform information into action & initiatives have contributed to my successful career. HR is something that I live and breathe, and I know the impact it has in transforming businesses; and the lives of those who work inside it.
Chapter 3 - Bitcoin mining Technology.
Bitcoin network functions on cryptographic technology and thrives on mining, an incentivized technique to generate new bitcoins. In this chapter, we describe the fundamentals of Bitcoin system, underlying technical aspects of the network and mining process. We have also assessed the methods of mining, the concerned opportunities and implications for the benefit of potential miners. Furthermore, we have also provided a comparison of existing mining pools, different types of pool reward schemes, and the recent innovations in the Bitcoin industry.
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Ten things you should know about Parallella.

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#10. Best Price Performance.
There are cheaper single board computers out there, but starting at $99 the Parallella board is still the leader in terms of price/performance. 18 CPU cores, Gigabit Ethernet, 1GB RAM, and a Field Programmable Gate Array for $99 is a great deal!
#9. Made in the USA.
The Parallella board was designed and manufactured locally here in New England (USA). If you live outside the USA this probably doesn't matter to you but keeping a local manufacturing ECOSystem alive is an important thing. If you support US manufacturing, you should consider buying the Parallella, one of the few US manufactured computers. It wasn't easy to produce a $99 computer in the US, but we did it!
#8. Massive IO.
The Parallella has over 40 Gbps of IO bandwidth. That's roughly equivalent to FOUR-HUNDRED Raspberry Pi 10/100 interfaces.
#7. Small Size.
The Parallella is very small (credit card sized just like the Raspberry Pi and Beaglebone). Size does matter and the smaller you make it the better.
#6. Field Programmable Hardware.
Field Programmable Gate Arrays (FPGAs) is a big part of the present and future of computing but is rarely found in inexpensive single board computers. FPGAs give anyone with courage the power to design custom hardware. It's not as hard as you think! All you really need is an understanding of boolean logic and an intro to Verilog/VHDL and you are up and running. The Parallella board includes a large FPGA that lets you create pretty much any interface for the GPIO pins. Think about how many different interfaces are out there in the world and how powerful a feature this is for your embedded design and prototype!
#5. Open Documentation.
#4. Open Source Freedom.
The Parallella is a true open source hardware and software platform. Gerbers, CAD files, BOMs, schematics, drivers are all available in our github repository. If you don't like our pricing or design choices, you are always FREE to modify it and design your own board. Not everyone cares about freedom, but if you do, you should buy open source hardware.
#3. Community.
Parallella has an first rate community with over 200 Universities, dozens of research labs, some of the biggest communication companies in the world and some of the best hardware/software hackers around. The Parallella forum is a community of true professionals and the list community contributed open source Parallella project examples is expanding.
#2. General Availability.
Parallella has top tier distribution through Amazon, Digi-Key, RS Components and boards have now been in stock continuously since August 2014. The Parallella is not an eval kit or a short life span consumer device. The Parallella board, manufacturing flow, and logistics has been built for the long haul and we plan to produce and sell the Parallella for many years to come.
#1. The Future of Computing is Parallel.
If the next generation of programmers (kids today) aren't completely fluent in parallel programming, then something has gone terribly wrong. Kids should be writing parallel programs from day one and there isn't a better platform to get started with. The Parallella is the BBC Micro / Commodore 64 / Amiga / Apple-II of the 21st century and is the only accessible computing platform available that gives a heading towards the future of computing.
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Bitcoin Pond App is an one of industries leading Mobile Bitcoin mining pool. All of the mining power is backed up by physical miners. Mining with the latest algorithms allows to make as much Bitcoin as possible. We aim to provide you with the easiest possible way to make money without having to do any of the hard stuff. With data centers around the globe, we aim to keep bills down and mining power high, meaning you can make more in a shorter amount of time than what it would take to mine from your home for instance. Our data centers are located in Europe, USA and China with dedicated Up-Links and 99% uptime!
You can download the Bitcoin Pond App for Free and you can start mining with your mobile device.
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You can create Bitcoin wallet using online services like Blockchain.info. You can buy and sell Bitcoins on Bitcoin trading platforms like LocalBitcoins.
Our Affiliate program allows you to invite your friends and if they successfully withdraw their bitcoins you can withdraw your mined bitcoins for Free!
Withdrawal of bitcoins are generally processed instantly, in rare cases withdrawals can be a little take longer.

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Is it supported on iOS device?
The App is currently released on Android devices. The iOS version will be release soon, Keep in touch!
China's bitcoin miners can no longer pay electricity bills.
The Chinese government's ongoing aggressive behavior towards the Chinese crypto industry has resulted in Bitcoin miners now facing difficulties paying their electricity bills.
According to a tweet published on November 16, 2020, 74 percent of surveyed Chinese miners are currently having trouble paying their electricity bills. The background to this problem is that the Chinese government has been cracking down on the exchange of crypto and fiat currencies for a long time.
In 2020, the government called for vehement action against money laundering and other illegal activities. This particularly applies to activities related to cryptocurrencies. However, like everyone else, miners need access to the yuan to pay their bills and other operational expenses. The fact that this access is difficult for them poses great problems. In addition to problems with seasonal floods, they now also have to struggle with the COVID-19 pandemic, which creates further obstacles, such as delivery bottlenecks.
After the Bitcoin halving in May, Coinbase Rewards fell by half compared to the last four years, the name suggests it. As a result, the miners now want to achieve greater efficiency to compensate for the low income.
Will Chinese miners look for new areas in the future?
In recent years, China has always been the leading country in terms of Bitcoin hash rate. Around 65 percent of the total computing power fed into the Bitcoin network comes from the Middle Kingdom. With just under 7 percent, the USA is already far behind in second place. But this distribution could now shift in the future due to the restrictions.
The Chinese miners could migrate to areas with cheaper electricity prices and better climatic conditions. A conceivable alternative to China for the miners would be the region around  and Kazakhstan. Kazakhstan in particular could develop into a new mining hub. In early September, the Ministry of Digital Development announced that it would invest $ 700 million in the blockchain sector over the next three years. 13 mining farms are already in operation and four more are in the planning stage. Kazakhstan is already in fourth place in the global hash rate ranking with a share of over 6 percent. The country could take on more and more shares through the new crypto offensive.
Bitcoin mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa.
The map above shows which countries consume less electricity than the amount consumed by global Bitcoin mining. You can see an update for late 2018 here.
Bitcoin's ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it's a bubble waiting to burst.
However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity consumption used to "mine" more Bitcoins.
According to Digiconomist's Bitcoin Energy Consumption Index, as of Monday November 20th, 2017 Bitcoin's current estimated annual electricity consumption stands at 29.05TWh .
That's the equivalent of 0.13% of total global electricity consumption. While that may not sound like a lot, it means Bitcoin mining is now using more electricity than 159 individual countries (as you can see from the map above). More than Ireland or Nigeria.
If Bitcoin miners were a country they'd rank 61st in the world in terms of electricity consumption.
Here are a few other interesting facts about Bitcoin mining and electricity consumption:
In the past month alone, Bitcoin mining electricity consumption is estimated to have increased by 29.98% If it keeps increasing at this rate, Bitcoin mining will consume all the world's electricity by February 2020 . Estimated annualised global mining revenues: $7.2 billion USD (£5.4 billion) Estimated global mining costs: $1.5 billion USD (£1.1 billion) Number of Americans who could be powered by Bitcoin mining: 2.4 million (more than the population of Houston) Number of Britons who could be powered by Bitcoin mining: 6.1 million (more than the population of Birmingham, Leeds, Sheffield, Manchester, Bradford, Liverpool, Bristol, Croydon, Coventry, Leicester & Nottingham combined) Or Scotland, Wales or Northern Ireland. Bitcoin mining consumes more electricity than 12 US states (Alaska, Hawaii, Idaho, Maine, Montana, New Hampshire, New Mexico, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming)
All maps created using Mapchart.net. For the full breakdown of data, please keep reading.
Bitcoin mining Electricity Consumption Vs Countries.
The map at the top of the page shows, which countries currently consume more or less electricity than that consumed by global Bitcoin mining.
The map below shows how much more or less Bitcoin mining energy consumption compares to each countries energy usage with 100% being equal.
E.g. Ireland currently consumes an estimated 25 TWh of electricity per year, so global Bitcoin mining consumption is 116%, or 16% more than they consume. The UK consumes an estimated 309 TWh of electricity per year so global Bitcoin mining consumption is only equivalent to 9.4% of the UK total.
Global Bitcoin mining consumption compared to each country's electricity consumption.
The map below shows which countries in Europe consume more or less electricity than Bitcoin mining:
Which European countries consume more or less electricity than the amount consumed by global Bitcoin mining.
As mentioned, above the data for Bitcoin mining energy consumption comes from the Bitcoin Energy Consumption Index. You can read about their assumptions here.

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Electricity consumption data mostly comes from the CIA via Wikipedia and is mostly for 2014, since that's the most recent year available. Unlike some other sources it includes, residential, commercial and industrial use, so may be higher than other figures quoted elsewhere.
Below we have a table showing the data we used for each country:
Rank Country Electricity Consumption in kWh/year Bitcoin mining Consumption Relative To Country's Use 1 China 5,920,000,000,000.00 0.49% 2 United States 3,913,000,000,000.00 0.74% 3  1,065,000,000,000.00 2.73% 4 India 1,001,191,000,000.00 2.90% 5 Japan 934,000,000,000.00 3.11% 6 Germany 533,000,000,000.00 5.45% 7 Canada 528,000,000,000.00 5.50% 8 Brazil 518,000,000,000.00 5.61% 9 Korea, South 495,000,000,000.00 5.87% 10 France 431,000,000,000.00 6.74% 11 United Kingdom 309,000,000,000.00 9.40% 12 Italy 291,000,000,000.00 9.98% 13 Saudi Arabia 272,000,000,000.00 10.68% 14 Taiwan 249,500,000,000.00 11.64% 15 Mexico 238,000,000,000.00 12.21% 16 Spain 234,000,000,000.00 12.41% 17 Australia 224,000,000,000.00 12.97% 18 Iran 218,000,000,000.00 13.33% 19 South Africa 212,000,000,000.00 13.70% 20 Turkey 207,000,000,000.00 14.03% 21 Indonesia 195,000,000,000.00 14.90% 22 Thailand 164,000,000,000.00 17.71% 23 Egypt 143,000,000,000.00 20.31% 24 e 143,000,000,000.00 20.31% 25 Poland 142,000,000,000.00 20.46% 26 Malaysia 131,000,000,000.00 22.18% 27 Sweden 127,000,000,000.00 22.87% 28 Norway 126,400,000,000.00 22.98% 29 Vietnam 125,000,000,000.00 23.24% 30 Argentina 116,000,000,000.00 25.04% 31 Netherlands 108,000,000,000.00 26.90% 32 United Arab Emirates 96,000,000,000.00 30.26% 33 Kazakhstan 91,000,000,000.00 31.92% 34 Philippines 90,797,891,000.00 31.99% 35 Pakistan 82,000,000,000.00 35.43% 36 Finland 81,000,000,000.00 35.86% 37 Belgium 81,000,000,000.00 35.86% 38 Venezuela 78,000,000,000.00 37.24% 39 Austria 69,750,000,000.00 41.65% 40 Chile 66,000,000,000.00 44.02% 41 Czech Republic 60,000,000,000.00 48.42% 42 Colombia 60,000,000,000.00 48.42% 43 Israel 59,830,000,000.00 48.55% 44 Switzerland 58,000,000,000.00 50.09% 45 Kuwait 54,000,000,000.00 53.80% 46 Greece 53,000,000,000.00 54.81% 47 Algeria 49,000,000,000.00 59.29% 48 Romania 48,000,000,000.00 60.52% 49 Uzbekistan 48,000,000,000.00 60.52% 50 Singapore 47,180,000,000.00 61.57% 51 Portugal 46,000,000,000.00 63.15% 52 Bangladesh 46,000,000,000.00 63.15% 53 Hong Kong 42,000,000,000.00 69.17% 54 Iraq 42,000,000,000.00 69.17% 55 New Zealand 40,000,000,000.00 72.63% 56 Peru 39,000,000,000.00 74.49% 57 Qatar 34,000,000,000.00 85.44% 58 Belarus 33,000,000,000.00 88.03% 59 Denmark 32,000,000,000.00 90.78% 60 Bulgaria 31,000,000,000.00 93.71% 61 Morocco 29,000,000,000.00 100.17% 62 Slovakia 28,360,000,000.00 102.43% 63 Serbia 26,910,000,000.00 107.95% 64 Bahrain 25,000,000,000.00 116.20% 65 Ireland 25,000,000,000.00 116.20% 66 Oman 25,000,000,000.00 116.20% 67 Nigeria 24,000,000,000.00 121.04% 68 Hungary 21,550,000,000.00 134.80% 69 Ecuador 21,000,000,000.00 138.33% 70 Azerbaijan 20,000,000,000.00 145.25% 71 Puerto Rico 19,000,000,000.00 152.89% 72 Iceland 17,000,000,000.00 170.88% 73 Syria 17,000,000,000.00 170.88% 74 Croatia 16,970,000,000.00 171.18% 75 Jordan 16,000,000,000.00 181.56% 76 Lebanon 16,000,000,000.00 181.56% 77 Dominican Republic 15,140,000,000.00 191.88% 78 Tunisia 15,000,000,000.00 193.67% 79 Cuba 15,000,000,000.00 193.67% 80 Korea, North 15,000,000,000.00 193.67% 81 Slovenia 13,000,000,000.00 223.46% 82 Turkmenistan 13,000,000,000.00 223.46% 83 Tajikistan 12,000,000,000.00 242.08% 84 Mozambique 12,000,000,000.00 242.08% 85 Kyrgyzstan 11,000,000,000.00 264.09% 86 Sri Lanka 11,000,000,000.00 264.09% 87 Zambia 11,000,000,000.00 264.09% 88 Bosnia and Herzegovina 11,000,000,000.00 264.09% 89 Myanmar 11,000,000,000.00 264.09% 90 Uruguay 10,000,000,000.00 290.50% 91 Lithuania 9,900,000,000.00 293.43% 92 Sudan 9,900,000,000.00 293.43% 93 Georgia 9,800,000,000.00 296.43% 94 Paraguay 9,700,000,000.00 299.48% 95 Libya 9,300,000,000.00 312.37% 96 Congo, Democratic Republic of the 9,300,000,000.00 312.37% 97 Costa Rica 9,200,000,000.00 315.76% 98 Ghana 9,200,000,000.00 315.76% 99 Trinidad and Tobago 9,100,000,000.00 319.23% 100 Guatemala 8,915,000,000.00 325.86% 101 Estonia 8,200,000,000.00 354.27% 102 Angola 8,100,000,000.00 358.64% 103 Zimbabwe 8,000,000,000.00 363.13% 104 Panama 7,800,000,000.00 372.44% 105 Albania 7,793,000,000.00 372.77% 106 Kenya 7,600,000,000.00 382.24% 107 Bolivia 7,500,000,000.00 387.33% 108 Macedonia 6,960,000,000.00 417.39% 109 Latvia 6,800,000,000.00 427.21% 110 Ethiopia 6,700,000,000.00 433.58% 111 Luxembourg 6,200,000,000.00 468.55% 112 Cameroon 6,100,000,000.00 476.23% 113 Ivory Coast 5,800,000,000.00 500.86% 114 El Salvador 5,700,000,000.00 509.65% 115 Mongolia 5,600,000,000.00 518.75% 116 Honduras 5,300,000,000.00 548.11% 117 West Bank 5,200,000,000.00 558.65% 118 Yemen 5,200,000,000.00 558.65% 119 Armenia 5,100,000,000.00 569.61% 120 Tanzania 5,000,000,000.00 581.00% 121 Afghanistan 4,700,000,000.00 618.09% 122 Macau 4,500,000,000.00 645.56% 123 Nicaragua 4,412,000,000.00 658.43% 124 Moldova 4,305,000,000.00 674.80% 125 Cambodia 4,100,000,000.00 708.54% 126 Laos 3,900,000,000.00 744.87% 127 Nepal 3,900,000,000.00 744.87% 128 Cyprus 3,900,000,000.00 744.87% 129 Brunei 3,766,000,000.00 771.38% 130 Botswana 3,700,000,000.00 785.14% 131 Namibia 3,700,000,000.00 785.14% 132 Papua New Guinea 3,000,000,000.00 968.33% 133 Senegal 3,000,000,000.00 968.33% 134 Kosovo 2,887,000,000.00 1006.23% 135 Montenegro 2,800,000,000.00 1037.50% 136 Jamaica 2,800,000,000.00 1037.50% 137 Uganda 2,700,000,000.00 1075.93% 138 Mauritius 2,600,000,000.00 1117.31% 139 Gabon 2,100,000,000.00 1383.33% 140 Bhutan 2,085,000,000.00 1393.29% 141 New Caledonia 2,000,000,000.00 1452.50% 142 Malta 2,000,000,000.00 1452.50% 143 Suriname 1,900,000,000.00 1528.95% 144 Malawi 1,900,000,000.00 1528.95% 145 Bahamas 1,600,000,000.00 1815.63% 146 Guam 1,500,000,000.00 1936.67% 147 Swaziland 1,500,000,000.00 1936.67% 148 Mali 1,400,000,000.00 2075.00% 149 Liechtenstein 1,360,000,000.00 2136.03% 150 Madagascar 1,300,000,000.00 2234.62% 151 Burkina Faso 1,200,000,000.00 2420.83% 152 Niger 1,200,000,000.00 2420.83% 153 Togo 1,100,000,000.00 2640.91% 154 Benin 1,000,000,000.00 2905.00% 155 Curacao 968,000,000.00 3001.03% 156 Congo, Republic of the 900,000,000.00 3227.78% 157 Guinea 900,000,000.00 3227.78% 158 Barbados 900,000,000.00 3227.78% 159 Mauritania 800,000,000.00 3631.25% 160 Lesotho 800,000,000.00 3631.25% 161 Guyana 800,000,000.00 3631.25% 162 Fiji 800,000,000.00 3631.25% 163 Aruba 800,000,000.00 3631.25% 164 French Polynesia 700,000,000.00 4150.00% 165 South Sudan 694,100,000.00 4185.28% 166 Jersey 630,100,000.00 4610.38% 167 Bermuda 600,000,000.00 4841.67% 168 Cayman Islands 600,000,000.00 4841.67% 169 U.S. Virgin Islands 600,000,000.00 4841.67% 170 Marshall Islands 600,000,000.00 4841.67% 171 Andorra 562,400,000.00 5165.36% 172 Rwanda 500,000,000.00 5810.00% 173 Burundi 400,000,000.00 7262.50% 174 Belize 400,000,000.00 7262.50% 175 Djibouti 400,000,000.00 7262.50% 176 Haiti 400,000,000.00 7262.50% 177 Seychelles 300,000,000.00 9683.33% 178 Somalia 300,000,000.00 9683.33% 179 Saint Lucia 300,000,000.00 9683.33% 180 Antigua and Barbuda 300,000,000.00 9683.33% 181 Cabo Verde 300,000,000.00 9683.33% 182 Eritrea 300,000,000.00 9683.33% 183 Faroe Islands 300,000,000.00 9683.33% 184 Gambia 300,000,000.00 9683.33% 185 Greenland 300,000,000.00 9683.33% 186 Liberia 300,000,000.00 9683.33% 187 Maldives 300,000,000.00 9683.33% 188 Chad 200,000,000.00 14525.00% 189 Saint Kitts and Nevis 200,000,000.00 14525.00% 190 Central African Republic 200,000,000.00 14525.00% 191 Sierra Leone 200,000,000.00 14525.00% 192 Turks and Caicos Islands 200,000,000.00 14525.00% 193 Gibraltar 200,000,000.00 14525.00% 194 Grenada 200,000,000.00 14525.00% 195 Micronesia, Federated States of 178,600,000.00 16265.40% 196 Timor-Leste 125,300,000.00 23184.36% 197 British Virgin Islands 100,000,000.00 29050.00% 198 Saint Vincent and the Grenadines 100,000,000.00 29050.00% 199 American Samoa 100,000,000.00 29050.00% 200 Samoa 100,000,000.00 29050.00% 201 Equatorial Guinea 91,140,000.00 31874.04% 202 Dominica 90,210,000.00 32202.64% 203 Western Sahara 83,700,000.00 34707.29% 204 Solomon Islands 79,050,000.00 36748.89% 205 Sao Tome and Principe 65,100,000.00 44623.66% 206 Vanuatu 55,800,000.00 52060.93% 207 Tonga 46,500,000.00 62473.12% 208 Saint Pierre and Miquelon 41,850,000.00 69414.58% 209 Comoros 40,920,000.00 70992.18% 210 Guinea-Bissau 31,620,000.00 91872.23% 211 Cook Islands 31,620,000.00 91872.23% 212 Kiribati 27,900,000.00 104121.86% 213 Nauru 23,250,000.00 124946.24% 214 Montserrat 21,390,000.00 135811.13% 215 Falkland Islands 13,950,000.00 208243.73% 216 Saint Helena, Ascension and Tristan da Cunha 9,300,000.00 312365.59% 217 Niue 3,720,000.00 780913.98% 218 Gaza Strip 202,000.00 14381188.12% 219 Northern Mariana Islands 48,300.00 60144927.54%
Bitcoin mining Electricity Consumption Vs US States.
While doing the research we also though it might be interesting to compare Bitcoin mining energy consumption to US states. So we created the map below:
Overall, 12 States consume less electricity than Bitcoin mining (Alaska, Hawaii, Idaho, Maine, Montana, New Hampshire, New Mexico, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming).
The data for this section comes from the EIA and is for 2015 and uses total retail sales. Please note this data set uses MWh instead of kWh.
State Total retail sales (MWh) Bitcoin mining Consumption Relative To State's Use Alabama 88,845,543.00 33% Alaska 6,159,204.00 472% Arizona 77,349,416.00 38% Arkansas 46,465,154.00 63% California 261,170,437.00 11% Colorado 54,116,046.00 54% Connecticut 29,476,155.00 99% Delaware 11,498,205.00 253% District of Columbia 11,291,233.00 257% Florida 235,599,398.00 12% Georgia 135,878,215.00 21% Hawaii 9,511,352.00 305% Idaho 23,058,814.00 126% Illinois 138,619,970.00 21% Indiana 104,514,518.00 28% Iowa 47,147,293.00 62% Kansas 39,849,127.00 73% Kentucky 76,038,630.00 38% Louisiana 91,676,489.00 32% Maine 11,888,168.00 244% Maryland 61,781,719.00 47% Massachusetts 54,621,088.00 53% Michigan 102,479,921.00 28% Minnesota 66,579,234.00 44% Mississippi 48,691,529.00 60% Missouri 81,504,081.00 36% Montana 14,206,911.00 204% Nebraska 29,495,073.00 98% Nevada 36,019,690.00 81% New Hampshire 10,999,149.00 264% New Jersey 75,489,623.00 38% New Mexico 23,093,553.00 126% New York 148,913,655.00 20% North Carolina 133,847,523.00 22% North Dakota 18,128,948.00 160% Ohio 149,213,224.00 19% Oklahoma 61,336,385.00 47% Oregon 47,263,974.00 61% Pennsylvania 146,344,028.00 20% Rhode Island 7,664,718.00 379% South Carolina 81,328,246.00 36% South Dakota 12,101,979.00 240% Tennessee 99,632,108.00 29% Texas 392,337,354.00 7% Utah 30,192,350.00 96% Vermont 5,521,109.00 526% Virginia 112,009,045.00 26% Washington 90,116,086.00 32% West Virginia 32,303,026.00 90% Wisconsin 68,698,932.00 42% Wyoming 16,924,762.00 172%
Growth of Bitcoin mining Electricity Consumption.
While Bitcoin mining is only currently consuming 0.13% of the world's electricity output, it's growing incredibly quickly.
The Bitcoin Energy Consumption Index estimates consumption has increased by 29.98% over the past month. If that growth rate were to continue, and countries did not add any new power generating capacity, Bitcoin mining would:
Be greater than UK electricity consumption by October 2018 (309 TWh) Be greater than US electricity consumption by July 2019 (3,913 TWh) Consume all the world's electricity by February 2020. (21,776 TWh)
The Cost of Mining Bitcoins.
The Bitcoin Energy Consumption Index estimates that the total annual cost of mining Bitcoins stands at $1.5 billion (£1.1 billion) .
However, that assumes Bitcoin mining is occurring in places with cheap electricity (not an unreasonable assumption).
The US average retail price per kilowatthour is 10.41 cents, which means using 28.05 TWh would cost: $3.02 billion (£2.28 billion) .
In the UK it would even more expensive, assuming you paid the rock bottom price of 10.10 pence per kilowatthour (Bulb's prices for London homes) it would still cost £2.93 billion ($3.89 billion) .
Interestingly, Bitcoin's price increase over the last month has been just over 40% , which is greater than the increase in electricity consumption.
This means the estimated annualised global mining revenues now stand at $7.2 billion USD (£5.4 billion) , which even at the more expensive estimates listed above, means it's still very profitable.

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How Does Bitcoin mining Consume Electricity?
At a very bASIC level Bitcoin mining requires expensive and power hungry computer hardware. As the the IEEE explains:
Mining power is high and getting higher, thanks to a computational arms race. Recall that the required number of zeros at the beginning of a hash is tweaked biweekly to adjust the difficulty of creating a block--and more zeros means more difficulty.
The Bitcoin algorithm adds these zeros in order to keep the rate at which blocks are added constant, at one new block every 10 minutes. The idea is to compensate for the mining hardware becoming more and more powerful.
When the hashing is harder, it takes more computations to create a block and thus more effort to earn new bitcoins, which are then added to circulation.
To better understand how this whole process works have a look at Investopedia's guide.
Also see:
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Venezuelan State Power Company Cuts Electricity to Bitcoin Miners.
Venezuelan bitcoin miners in the region of Carabobo are experiencing power cuts.
Someone high up in Government is allegedly behind the shut down.
Venezuela has a healthy mining community while their fiat currency languishes.
Corpoelec, the Venezuelan state power company, has cut power to Bitcoin mining equipment, according to a local miner.
As a result, mining farms scheduled a meeting to negotiate with the government. However, this meeting was later canceled.
Offline Inflation.
While mining rewards reach $100,000 a block, miners in Carabobo, Venezuela, won't be seeing a dime. The Venezuelan state power company disconnected mining equipment across the state.
An informant told Criptonoticias that his contacts at Corpoelec had tipped him off before the blackout. The order to end mining allegedly came, "From above." This informant, a local miner, chose to remain anonymous.
The miner says that managers at the state power company explained that all mines in Carabobo would be shut down. Starting the weekend of Nov 7, 2020, all mines in the province were offline.
While miners, in theory, are anonymous, the Venezuelan government has a register of all miners in the nation. Nonetheless, unregistered miners exist, though the government has managed to detect their activity. The informant didn't know whether unregistered miners were affected.
Additionally, the reason for the miner shutdown was not apparent.
Venezuela publica una nueva regulación para la minería de #criptomonedas y un polémico Pool de Minería Digital Nacional ha sido creado #bitcoin https://t.co/ikS1gsSRWe.
Emergency Bitcoin Miner Meeting.
As a result of these events, the Ministry of Popular Power for Electric Energy and the Sectoral Vice Presidency of Public works scheduled an emergency meeting. The consortium was to take place on Nov 12, 2020, in Caracas, the Venezuelan capital.
The meeting would host negotiations on electricity costs in the region. It was to be an interface between miners and the government. One subject for discussion was the creation of a National Digital Mining Pool.
Following this announcement, the informant released a letter urging his fellow miners to show up in numbers at the gathering, saying there would be strength in numbers. Unfortunately, the meeting was suspended for unknown reasons.
Petro, Petrol.
Venezuela, which has a socialist government, has had a mixed relationship with cryptocurrencies.
Crypto mining is legal in Venezuela, but miners need to apply for a license with the Comprehensive Registry of Miners (RIM). Miners and Government officials are in talks regarding national digital mining pools. In 2017, CoinShare ranked Venezuela as one of the top 10 countries contributing to the Bitcoin hashrate.
On the other hand, crypto has become a significant issue in the troubled country. Venezuela, which sees most of its industry from oil, has had runaway inflation for several years.
This has led citizens to stack bitcoin and other cryptos. Despite their obvious volatility, cryptocurrencies don't suffer the extreme inflation of the Venezuelan bolivar.
Attempting to cash in on this craze, the government created the "Petro," a digital currency in 2017. The government planned to back this currency with oil reserves. However, the Petro never gained traction, and Venezuelans have flocked to bitcoin instead.
Chinese Bitcoin Miners Fail to Pay Electricity Bills Amid Crackdown on Crypto Exchange.
Bitcoin miners in Chian are currently struggling to carry their mining activities as the government crackdown on the exchange of crypto for national fiat CNY intensified. China is a hub for Bitcoin mining because of the cheap and clean electricity availability, however looking at the growing restraints from the government, these miners might have to move out of the country if they wish to continue Bitcoin mining. As per a recent survey conducted by a local media publication WuBlockchain, 74% of the miners reported that the recent crackdowns are making it difficult for them to pay their electricity bills.
The crackdown has resulted in the freezing of thousands of bank cards of those who were found exchanging cryptocurrencies for the national fiat CNY. Miners can't risk exchanging their mining rewards for CNY as it would lead to blocking their cards, but mining being their primary profession there is no other way for them to cash out their mining rewards.
Could Bitcoin mining Consume More Electricity Than A Whole Country?
Apart from 'blockchain,' which word do you think was one of the most populars of this year, speaking in terms of the atypical fussioning that results from blending technology with economy? If your answer was 'Bitcoin,' you're totally right. Indeed, no one can deny how both elements, bitcoin and blockchain, have been receiving a growing bulk of attention from worldwide information channels.
Of course, there's no need to explain why bitcoin and blockchain have been grabbing the entire media, since although not everyone is used to the terminology of cryptocurrencies nor understand it at its full to drive home the point and the bunch of applications experts propose, the topic doesn't go unnoticed when one of the most important corporation of finances as MasterCard is betting on that kind of tech-economical solution.
Nevertheless, one of the most controversial aspects of what it could represent this game changer economy of virtual currencies and its possible impact in these days societies, inevitably leads to the environmental theme, and the effects over a global warming which we are just getting used to live with, but we don't take enough action as we should.
Did you know that only the Bitcoin mining could consume more electricity than a whole country like Ireland? Indeed, whether you are or not confused about the futuristic system that bitcoin and blockchain suppose, I hope you already know the answer to that question next time you wonder what's the whole fuss about it -- And don't worry, since the secret was kind of revealed on a report called Digiconomist's Bitcoin Energy Consumption Index earlier last month.
Global warming: money does not bring happiness, nor Bitcoin either.
In this way, the numbers reported are a little bit tricky to digest and add a plus of confusion for those who are already lost in that area, considering that during the first half of the year ecologists told blockchain would be a environmental protection tool response, but the figures state it takes the equivalent of 0.13% of total global electricity consumption. Does it sound like a slight amount? Well, if Bitcoin miners were a country, they'd rank 61st in the world -- Of 194 recognized by the ONU, for you information.
Is it a vast amount? Only electric experts could know, though, without a doubt we are talking in heavy words when it's possible to summarize the quantity of spent energy in numbers that surpass the individual countries' bill. In fact, according to that study of electrical consumption of only Bitcoin mining, it's easier to say that the digital currency exceed what's consumed in Serbia, Morocco, or some US states as Alaska and Hawaii.
However, what are actually 32 terawatt hours of energy? As we are neither used to handle with that kind of measures, suddenly everything goes a little bit abstract.
On the other hand, even though the only clear is mining is serious business, far beyond than dwelling on the details of comparing with washing machines, electric heatings, or even smaller gadgets as smartphones and tablets, there's a lack of contrast with the energy and human costs of worldwide bank transactions, for example.

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Measuring the immeasurable since centuries before Christ.
How many clouds can float throughout a day? How much volumetric oxygen it's Earth capable to produce in order to give enough to each inhabitant? Something that have characterized our civilization and that makes us actually 'humans,' is this endless needing of quantifying and explain everything around.
That being said, of course it's quite complicated to measure and estimate the consumption of energy over the world, because it's kind of immeasurable -- And by the way, the energy sector is still a "national security" issue normally, so that the published data is often bad, assumed and/or outdated.
Finally, be that as it may, if bitcoin and blockchain want to take to the next level, it's needed to stop equating their "value" to US dollars or some other traditional currency, since if the ability to trade bitcoin for other money, products or services, collapses all those processor farms are performing worthless calculations, is it really acting as a self-sustaining economy?
On the other hand, in order to make less fiendish the whole system, it will be a must a bit of public education about the whole stuff; otherwise, it will still go on as a an evil character tricks a whole population into ruining their own world in some kind of virtual, creepy sci-fi story with no other solution than the common bank and doubtful government people who manage the nations.
Bitcoin Mathematics: Why 21 Million BTC May Have Been Chosen.
Everything about Bitcoin is heavily steeped in mathematics - defined as the study of quantity, structure, space, and change. Quantity has always been of particular interest to crypto investors and traders - in increasing the quantity of one's own holdings, and the impact the hard-capped quantity of BTC has on its long-term value.
Recently, a Twitter thread questioned the reasoning behind why the first-ever cryptocurrency's creator, Satoshi Nakamoto, selected 21 million BTC as the total supply and not another arbitrary number. The answer, like everything else surrounding Bitcoin, can be found in very simple math.
The Not Secret Anymore Formula For Bitcoin's Hard-Capped Supply.
Bitcoin's hard-capped supply provides it with unique attributes. It gives it a layer of scarcity fiat currencies don't have, but safe-haven assets like gold are lauded for. It also prevents inflation by never increasing the BTC supply. We can all see why it's important to Bitcoin's value, but still - why 21 million BTC?
In a detailed and thought-provoking Twitter thread started by Sasha Fleyshman, the trader at Arca - an asset management firm focusing on cryptocurrencies and blockchain - inquires into why Bitcoin's creator chose 21 million BTC as the total amount of Bitcoin to ever exist. Like most things related to Satoshi.
After much discussion, Fleyshman gathered the collective thoughts and based on a simple mathematical formula, may have discovered the reason behind the 21 million BTC supply.
This is offset by what is called a "Difficulty Adjustment", where the 'hash'(random generated number) that is required to solve the block is adjusted - this occurs every 2016 blocks (14 days). So, for all related purposes, 6 blocks/hour is a safe metric to use. pic.twitter.com/4DoS3Uev0f.
The theory is based on time, mostly. The variables used were hours per day, days per year, years per cycle, and blocks per hour.
Also, hardcoded into Bitcoin, is the fact that it takes roughly ten minutes for each new block to be added to the blockchain. Fleyshman points out that this varies by a few seconds, but is ultimately offset at each "difficulty adjustment" occurring every 14 days.
When you break down four years worth of blocks at six blocks per hour, there are approximately 210,000 total blocks per halving cycle.
At Bitcoin's next halving, its supply will be cut from 12.5 BTC to 6.25 BTC. Prior to this, the block reward was 25 BTC, and before that, 50 BTC. The sum of all block reward sizes is 100.
When you multiply 100 with the 210,000 total blocks per halving cycle, you get 21 million BTC . At least that's according to Fleyshman's theory, which makes logical sense.
While all the math lines up, it could also just be a coincidence, and the true answer will likely never be known, as Satoshi Nakamoto's true identity may never be revealed. Until that ever happens, this theory is among the most convincing yet.
Assets in Mathematics: The Bitcoin mining Industry.
Mining is perhaps one of the most important components of the Bitcoin ECOSystem. The complex computational math problems that miners work to solve enables the execution of transactions. These problems are so complex that they are difficult even for incredibly powerful computers. The luck and work required by a computer to solve one of these problems is the digital equivalent of a miner striking gold in the ground. The chance of getting it right is about 1 in 13 trillion.
Bitcoin mining serves two purposes. First, by solving computational math problems, Bitcoin miners make the Bitcoin payment network trustworthy and secure, by verifying its transaction information. Miners are the ones who make sure transactions are accurate and Bitcoin is not being duplicated.
Second, when computers solve these complex math problems on the Bitcoin network, they produce new Bitcoin, not unlike when a mining operation extracts gold from the ground. That reward is called the 'block reward' and the amount is cut in half periodically during events known as 'halvings'. The concept of newly minted Bitcoin is a crucial component of the Bitcoin protocol. The Bitcoin that miners receive is new in the sense that it was not in circulation before that.
Because miners will eventually sell that Bitcoin, they are a critical source of supply and liquidity. As Chainalysis reported, many crypto exchanges rely on miners for receiving Bitcoin and adding to the liquidity on the exchange. Typically, exchanges receive about 88% from other exchanges, with Bitcoin miners as the largest source for the remaining percentage. As you can imagine, there is fierce competition between exchanges to receive Bitcoin directly from the miners.
From mining at home, to Bitcoin industrial farms.

Bitcoin

At first, Bitcoin mining involved a lot of individuals at home with simple equipment performing the service. Over time, miners began to use better and better equipment and in 2013 they started using computers called Application-Specific Integrated Circuits (ASIC) specifically designed for Bitcoin mining. These are powerful, efficient computers and today most, if not all, mining is performed using this equipment. In fact, if you use a regular desktop computer, the cost of energy required to mine Bitcoin likely exceeds the revenue you would generate.
But even if you manage to get the right equipment, you'd still be out of your league compared to the mining pools - the alliances made by large Bitcoin mining companies where they pool their power. Bitcoin mining pools now dominate the market, with a handful of pools controlling most of the hashrate for Bitcoin - a general measure of the processing power of the Bitcoin network.
Where are the Bitcoin mines?
The Bitcoin mining Map created by the University of Cambridge shows the geographic distribution of the global Bitcoin hashrate. At first glance, the distribution of Bitcoin mining seems distributed to a satisfactory degree.
But upon closer inspection, we see that over 70% of the average monthly hashrate is actually located in one country, China.
Zooming in further, most of the mining activity is performed in only 4 provinces, with the top two being Xinjiang and Sichuan making up nearly half of all Bitcoin mining in China. In these areas, electricity is cheap, and the weather is cold. This helps keep mining profitable and the equipment cool during the 24/7 operation of Bitcoin mining.
But for the crypto-initiated, this is nothing new. For many years, China has consistently been a major market for Bitcoin miners due to its cheap electricity and affordable resources. Companies like Bitmain, F2Pool, and Canaan that account for a large portion of the Bitcoin network's hashrate are all based in China.
Whether this is negative or positive depends on your perspective. But for a decentralized, distributed, permissionless network, geographic spread across multiple entities is healthier for the entire ECOSystem.
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