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Data miners undermined

by on21 July 2017

Biting the bit bullet

Bitcoin has become so slow and costly that even buying a packet of cigarette takes days to process with a $5 fee making it an unwieldy and expensive solution.

According to a report from the BBC, transactions can take as long as three days to process. One bitcoin is bouncing around like there’s no tomorrow, although if you’re lucky there will be a tomorrow.

Data mining is a trend that’s not only put pressure on companies that make graphics cards, but by competition from giant server farms across the world, where the “miners” are effectively speculating from day to day.

One of the other problems is that other cybercurrency firms, such as Ethereum, are muddying the idea with that difficulty that always afflicts the IT industry - standards.

Last modified on 21 July 2017
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