Aug 1Diving Into Mining PoolsOnce someone enters the Bitcoin rabbit hole, one of the first things they typically learn about is proof of work and, by extension, mining. These are fundamental aspects of Bitcoin and having a basic understanding of them is crucial to appreciating Bitcoin. Interestingly, many Bitcoiners don’t venture very deeply down…Bitcoin9 min readBitcoin9 min read
Nov 26, 2021The Crucial Role of Wild Horses in Bitcoin MiningThe Crucial Role of Wild Horses in Bitcoin Mining Just over 13 years ago a tsunami was silently and slowly building from the force of Satoshi Nakamoto’s newly released paper “Bitcoin: A Peer-to-Peer Electronic Cash System”. At the time only a handful of cryptography enthusiasts were aware of Bitcoin, and…Bitcoin11 min readBitcoin11 min read
Published inCoinmonks·Jul 15, 2021Wayward Block Times and Their Impact on Bitcoin MiningFor those unfamiliar with the business of Bitcoin mining, one of the benefits of mining is a predictable revenue stream — especially for miners who store their wealth in Bitcoin. There are only three variables which determine mining revenue and the first is the percentage of the world’s hashing power…9 min read9 min read
Published inCoinmonks·Jul 3, 2021The Unforeseen and Tragic Breakup of Bitcoin’s Price and Hash RateWhether by choice, fate, betrayal, or tragedy even the closest relationships sometimes come to an end; Romeo and Juliet, Gilmour and Waters (Pink Floyd), Brutus and Caesar, Judas and Jesus Christ. …Bitcoin5 min readBitcoin5 min read
Published inCoinmonks·Jul 1, 2021Cost and Power to Redeploy China’s Bitcoin Mining IndustryOver the past few weeks, the reality of China’s ban on Bitcoin mining industry has hit with full force. This is not a drill, I repeat, this is not a drill! For the first time since the US Prohibition on alcohol, an entire industry is being forced out of a…Bitcoin Mining9 min readBitcoin Mining9 min read
Published inCoinmonks·Jun 28, 2021Impact of China’s Bitcoin Mining BanOver the past several days the most common question received by those of us in the mining business is, “how long until the Chinese miners are back online?” After thinking about this at length and digesting comments from others, I estimate that it will take 12–18 months for most of…Bitcoin5 min readBitcoin5 min read
