Amateur mining will leave the cryptocurrency market. To such conclusion experts of the conference CryptoPiter-2018, held March 16 in St. Petersburg. New technology is rapidly developing, the cost of mining increases.
The big players are able to recoup their costs, so the number of tech giants on the market increases. Over time, they will displace small domestic miners.
Requirements for capacity is constantly growing, the price of specialized equipment is increasing, there is a need for frequent updating. This leads to an increase in the cost of mining and increase the payback period. In the end, «hamsters» will not be able to earn by mining the cryptocurrency.
SPI Cryptouniverse Vladimir Shamshur: «tech giants ramp up production of equipment for mining. For example, Samsung, Intel and others are developing chips at the 7-nanometer technology. It is more energy efficient than the existing ones. But Nvidia has released graphics cards which are designed exclusively for mining».
Major players in the cryptocurrency market supportive. In contrast to the «hamsters», technological giants are easier to optimize their costs and to recoup the costs of electricity, maintenance of equipment and maintenance personnel. Therefore, with the development of technology, the profit of large companies will grow, experts believe.
Vladimir Shamshur: «the Japanese GMO Internet, one of the first large companies whose employees receive part of their salaries in bitcoin. Thus, the minimum amount they can get in bitcoin — $80, maximum $800. Also, GMO Internet has established inside its structure the divisions for mining and released ICO in support of the project on creation of Asimov. The tokens which are implemented in this ICO, you can buy a card with a new 7-nanometer chips».
Russian mining company RMC also spent ICO and engaged in the production of miners Sunrise. In addition, RMC announced the release of the new processor Multiclet, which is 35 times more powerful than the previous one. Maybe he’ll be available later this year.
The increase in the number of large players contributes to the creation of the so-called mining of data centers in different countries of the world. They are equipped with everything necessary for the mining of cryptocurrencies, and therefore attract investors.
The position of the miners-Amateurs weakened after the government will begin to regulate mining at the legislative level. This means that all members of the cryptocurrency market as major organizations and the «hamsters» — will be forced to pay taxes. To introduce mining into the framework of the right margin and to impose these activities seek to tax in many countries. The Russian Government has already developed a draft law on digital assets, which equates to mining business activities. Also the regulation of cryptocurrencies will devote several meetings to the leaders ‘ summit of «Big twenty».
According to analysts, the alternative of leaving the market for small miners will be buying capacity from the big players (the so-called «cloud mining» which is still rarely bring profit to customers, capacity — approx. ed.). In this case, the cost to update the fleet and maintenance will be borne by the seller — a major player with lots of equipment. But cloud mining opens up wide opportunities for fraud, so the operators of this market requires strict supervision.