How The rise of Ethereum Could Help Some Bitcoin Miners
The increase of Ethereum and Ethminers in the world of cryptocurrency is helping a lot the Bitcoin miners in the world. The Bitcoin miners are complaining a lot as the mining process becomes more complicated day and day out. To make it clear, Bitcoin mining is the process by which Bitcoin blocks are unlocked by the use of secure computers.
A new form of crypto currency
With the coming of ether which is the new form of crypto currency, there is a likely hood of Bitcoin miners shifting their energy to mine Ethereum block chains. The value for ether had risen over the years with just this year when it attained a 2000%. Some of the reasons why the increase of ether could be a solace to Bitcoin miners are:
- It is becoming harder to mine the bitcoins.
- The number of bitcoins to be mined is almost reaching exhaustion.
- It is easy to mine ether blockchains as compared to bitcoins.
- Mining bitcoins is consuming many resources and electricity.
Ethmining is more promising and paying
There are many reasons why the miners will shift into mining ether blockchains as seen above. The price of ether is also increasing day and day out thus raising its demand. It is projected that the cost of ether will surpass that of Bitcoin very soon. For this reason, miners are more interested in ethmining as it is more promising and paying.
According to a report from Coindesk, the bitcoins dominance in the world of cryptocurrency is short lived. The pace at which the ether is growing and the number of people who own an Eth wallet can’t be ignored.
Many people who are aware of what owning an ether are investing hugely on the cryptocurrency. More investors have shown the interest of buying the ether especially those who were passed during its Initial Coin Issue (ICO).
How to own an ether
Owning an ether is very easy, you only need to open an Eth wallet and proceed into buying the ETH. Buying is the easiest method to attain the ether because mining can take several years and the process needs highly sophisticated computers. With the likely higher future prices, the ether is in high demand at the moment.
The best thing about the ether just like any other cryptocurrency, it is not regulated by any central authority. The prices rise depended on the market forces with no manipulations from any authority. On the other hand, if you are a Bitcoin miner, it is a high chance you consider dedicating your energy where it counts much. Become an Ethminer and scoop the good kill.
Bitcoins Vs Eth mining
The Bitcoin is becoming more volatile due to the civil war between the so called crypto-power brokers whereby they are fighting over the future of the world of cryptocurrency. Ether on the other hand is more stable and not affected by any external or internal factors. In a typical corporate environment, when a corporation is having conflicts, its share prices drop in the stock market. The same is true for Bitcoin. The prices.
The word is shifting into using crypto currency. The introduction of Ethereum is bringing peace to the struggling Bitcoin miners. There is a general wave that is changing from the use of bitcoins to Ethereum a thing that Ethminers are embracing, see why: http://ethermining.com/best-graphics-card-ethereum-mining/.