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Home Markets Cryptos
dollars, Bitcoin has halved, what happens next?, Naira should watch out; Nigeria leads in the peer to peer use of Bitcoin than all African countries combined

Earning BTCs without Having To Pay Money

Olumide AdesinabyOlumide Adesina
3 years ago
in Cryptos
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BTC miners, hard work seems to be paying off, with billions of dollars going to their coffers, Data obtained from Glasscode showed that BTC miner revenue (“Thermocap“) is now at $17.5 billion USD. This metric is used as a lower bound for the capital inflow into an asset. 

Cumulative #Bitcoin miner revenue ("Thermocap") is now at $17.5 billion USD.

This metric is used as a lower bound for the capital inflow into an asset.

Comparison of Thermocaps since 2018:$BTC: $12.6B$ETH: $4.9B$LTC: $932M$BCH: $810M

Live charts: https://t.co/KMutpZkM4X pic.twitter.com/YL9rEYDqfU

— glassnode (@glassnode) July 3, 2020

Mining is the process of adding confirmed transactions to the Bitcoin blockchain. For the resources required to mine, the blockchain network rewards BTC miners via transaction fees and subsidies. Subsidies are paid per block at a current rate of 6.25 BTC. Fees are paid per transaction. 

READ ALSO: QKC: fastest rising crypto asset in 30 days, gains 100%

Metric Description 

Aggregate security spends, or “Thermocap“, is the aggregated amount of coins paid to miners and serves as a proxy to mining resources spent. It serves as a measure of the true capital flow into Bitcoin and is computed as the aggregate Coinbase transactions multiplied by the price in USD at the time they were mined.  

Quick fact; BTC Miners help in facilitating BTC transactions and provision of security on the blockchain network.  The importance of BTC miners can’t be underestimated as they perform these functions, by solving computational tasks which permit them to chain together blocks of transactions 

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By mining BTC, you can earn a BTC without having to pay money for such. BTC miners collect BTC as a reward for completing “blocks” of confirmed transactions which are added to the blockchain network. 


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Tags: BitcoinBTCCryptocurrency miningGlasscode
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market journalist and investment trader. Message Olumide on Twitter @tokunboadesina

Comments 7

  1. Anonymous says:
    September 2, 2020 at 9:50 pm

    I need free mining apps

    Reply
    • Ihuoma says:
      November 29, 2020 at 11:38 pm

      Inbox me I have one

      Reply
    • JAMIU gbenga says:
      December 25, 2020 at 9:23 pm

      please sir am jami’u by name from Nigeria i need a free mining app or software without withdrawal fees at list for a start

      Reply
  2. amelia says:
    October 16, 2020 at 9:16 am

    A couple of months ago, we had a seminar at my work place, during the seminar we had some cryptocurrency geeks invited to lecture us, he shared his experience he had with this team  at; blockchainnexperts@gmail.com I never doubted them and I made up my mind by that same day to invest half of my salary with this team. The effectiveness working with this team sum up to a total maximum profit of $36k just within 5 working days. Bitcoin online forums are great sources of abundant informal and formal information, which serves to appreciate cryptocurrency. I am also sharing this important information here to help people struggling financially and ready for a total financial breakthrough   

    Reply
    • Samuel Usoro says:
      December 2, 2020 at 8:55 am

      I want to start mining boss
      Which app can I used to mined?

      Reply
  3. Cyprian says:
    October 28, 2020 at 10:10 pm

    Pls how can get started with the past tutorials

    Reply
  4. Nigerian boy says:
    December 19, 2020 at 6:26 am

    So I’m still at secondary school and new to crypto naira metrics made me want to start . I need mining site and crypto capital pls. Btc wallet. 3DdacSkLLUMqR1VfFNjNWwTMnUgVVaKPns. Any body willing

    Reply

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