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Home-made mining farms against mining pools: Alexei Muratov comments on the speculation of sellers of mining equipment

Massive smuggling of mining equipment, seizures on borders, loss of investments - these are just a few points from the innumerable list of consequences of the unequal opposition in the communities of “Proof of Work” cryptocurrencies.

It is this obsolete technology that became the trigger, which reversed the crypto currency away from being a payment method (the way it was created at the very beginning).

Is mining based on PoW coming to an end?

So. Despite the massive promotion of crypto currency based on PoW through media and Internet, people begin to realize that the promises of the mining equipment sellers about the quick payback of the latter are not true.

The complexity of Bitcoin mining is gradually becoming more complex, and consequently, the up-to-date equipment of today will be negligible tomorrow. According to a number of experts in the field of mining, almost always investments in "farms" return wonly within extremely long periods of time - that is, mining already stopped being profitable if viewed from the point of view of ordinary business.

CWT's opinion on the current realities of mining and Crypto-currencies based on PoW

Recently the Russian TV channel Russia-24 has released a story about mining, today's "fever" in the networks of top crypto-currencies and about hacker attacks in the networks.

As part of the report, the Chairman of the board of the International Movement "Change the World Together" Mr. Alexei Muratov shared his opinion. The CWT leader focused on the current lack of prospects for mining on PoW and on how video card manufacturers mislead novice miners, playing with the mood of the society.

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  • August 3, 2017 7:00 PM MSK
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