In the beginning, Bitcoin was a person-to-person (P2P) method of transferring ‘value’ and was mined using generic laptop and desktop computers. Over the last decade; the popularity, use case and validity of Bitcoin and other cryptocurrencies has grown beyond the ability of most people to stay involved with mining.
Whilst the exchange/brokerage side of the crypto ‘industry’ has evolved and firmly established leaders such as Coinbase or Binance, there isn’t really a comparable entity in the mining arena. Bitmain is probably the biggest but they are primarily a hardware manufacturer and don’t focus solely on transaction processing. Their remit is limited to the range of assets that they can mine using the hardware they manufacture and own. During the 2018 ‘crypto bull’ market, many mining companies appeared but failed to properly prepare for the event of a downturn and in the ‘bear’ market in the latter half of 2018 have disappeared.
At the point in December 2017 where Bitcoin price peaked at $20,000 the blockchain couldn’t cope with the sheer volume of transactions and the fees were astronomical. Transactions were taking over 2 hours and costing up to $40 in fees. The total crypto market value is still relatively low at the moment, so the opportunity is ripe for MinedBlock to establish ourselves as a company bringing a corporate approach to the crypto mining industry. By establishing ourselves while the crypto market value is lower, we are protecting ourselves and our investors against any potential future downturns.
‘Crypto’ penetration into the global population is lower than 1% currently and mining is a cottage industry. We predict that as acceptance and use cases increase there will be an explosion in the userbase and therefore the demand. This, therefore, makes this the perfect opportunity to seize the initiative and establish ourselves as a leader in crypto mining.
MinedBlock Whitepaper: https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf
Click on the links below to get detailed information about MinedBlock.
MinedBlock Website: https://www.minedblock.io/
MinedBlock Official Twitter: https://twitter.com/mined_block
MinedBlock Official Facebook: https://www.facebook.com/MinedBlock/
Bounty0x Username: @skylords
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