Not April fool’s. Some 25 media stations read from a script a political message that has now been compiled into a video which has shocked America, at least the internet…
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The leading microprocessor manufacturer based in California – Intel Corporation has taken an interest in coming up and developing hardware with the focus on mining bitcoin [BTC] that would support mostly individual and small time miners to turn-in more profit.
Based on a Patent Application on March 29th, Intel is attracted very much towards the creation of specialized hardware for mining bitcoin. The information describes a BTC mining accelerator which patent application was filed on Sep 23rd, 2016.
“A System on Chip implementing a bitcoin mining hardware accelerator [which] may include a processor core and a hardware accelerator coupled to the processor core.” The hardware accelerator is intended to “mine digital currency,” and “may include a first computational block, including a message digest datapath,” as well as “a second computational block.”
To simple it out – the new hardware would make mining more profitable by making it first less energy spending.
For the time being, bitcoin mining is being dominated by Bitmain Technologies Ltd., which is based with its HQ in Beijing China. Parallel with running the largest mining pools for bitcoin, ASIC chips and mining hardware that use the chips are manufactured. The profit that was gained in this way by Bitmain in 2017 was around $3-$4 billion.
But, if everything goes by plan – Intel will be showcasing major competition for the centralized mining monopoly that Bitmain has become. Based on the patent filing, Intel has developed a way to lower the power consumed and the space utilized for bitcoin mining hardware.
bitcoin mining is currently incredibly energy-inefficient and has proven to be less profitable the more the price of decreases. This, in turn, has forced out many small-time miners while increasing the stranglehold on the sector by large-scale operations, such as Bitmain.
However, individuals and small-time mining could become once again profitable with the new technology that should be introduced in the new future by Intel. Accordingly it will help wrest control for the grasp of the mining giants.
President of Velocity Micro – a Richmond Virginia Intel partner and system builder – Randy Copeland, to CRN:
Once this new Intel technology comes to market, ultimately more people will mine again because it’s profitable again, driving down the market value of the coins, and finding a new market balance that will again put locations with lower electricity costs back at the advantage.
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The crypto market is growing manifold and is expected is to do the same in coming days.
While we wish to see the market cap of cryptocurrencies to reach the $1 trillion mark, not much has improved in product offerings on current exchanges.
Big exchanges are content with what they are offering. And since they are making huge profits (by charging various, hefty fees), they aren’t concerned with offering additional products to traders and investors.
We all want cryptocurrencies to become mainstream but the question is: are we doing enough to make that happen?
Restrictive hedging and lack of infrastructure
In conventional trading, one can hedge almost anything — farmers can hedge crops, a firm or individual can hedge currency, and heck, a country can even hedge its carbon credits with ease.
In the crypto space, however, hedging your holdings is a convoluted process.
The lack of reliable infrastructure on crypto exchanges can be frustrating for a trader.
I’ve often been left incapacitated (and annoyed) when, while carrying out my intraday trading schedule, Bitmex would suddenly go down because of high market volatility.
By the time Bitmex would be back up, the market would have changed completely and I would lose many great opportunities.
As an intraday trader, that feels like a kick in the nuts.
It’s hard for an intraday trader to survive the market in such situations. And when speculators won’t survive, you may guess the long-term effect on trading.
What’s disappointing is that even with millions of dollars in profit, cryptocurrency exchanges are not focusing on improving the infrastructure.
They are least bothered about trying to build a market with minimum to no slippage. As such, they often bring up slippage cost when liquidating your position.
In the current scenario, there are believers and non-believers of cryptocurrencies.
Regardless, there are opportunities to make money in the crypto market with the right skill set, and no trader will deny that (believer or non-believer).
What’s lacking though is proper, well-established infrastructure. And that is the key challenge in crypto portfolio management.
Overcoming this challenge will help motivate non-believing traders to participate in the crypto space. And as trading grows, it will be easier to solve other challenges like liquidity and high transaction costs on exchanges.
