BiteMiner, a cloud mining service provider, claims to offer options that help cryptocurrency miners make profits. Based in San Francisco, New York and Singapore, the company boasts state-of-the-art mining hardware that produces more than 32 GH/s, guaranteeing users an annual return on investment of 300 percent. Disclaimer: This article is sponsored by Bitcoin PR Buzz. BiteMiner Offers ‘Intelligent Platform,’ Automatically Switches Between Most Profitable Coins According to a press release, the cloud mining company is
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In October of 2014, Gavin Andresen sparked a community-wide debate over the future of the hard-coded, 1 MB size-cap on Bitcoin blocks. Andresen proposed a change to the Bitcoin protocol that would implement an upward-scaling block size limit, necessitating a hard-fork of the blockchain. Many people opposed this idea — mainly on economic grounds. They argued that a constantly increasing block size limit would make the supply of block-space far outstrip the demand for transactions,
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In the ongoing discussion about Bitcoin price volatility, one theory for a rapidly falling Bitcoin price is the fact that so many coins are mined every day. Currently, Bitcoin miners produce 3600 coins daily. These miners must pay bills, such as rent and electricity, which cannot presently be paid for with Bitcoin. Therefore, large portions of Bitcoin mining profit must be converted to fiat in order to pay expenses and keep Bitcoin mining operations afloat.