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The fact that there is little evidence of any growth in the use of virtual money as a currency may be the reason why there are minimal efforts to control it. The reason behind this could be just that the market is too small for cryptocurrencies to warrant any regulatory effort. It is also possible the regulators simply don’t understand the technology and its consequences, expecting any developments to act. Mining cryptocurrencies is how new coins are placed into circulation. Because there is no government control and crypto coins are digital, they cannot be printed or minted to produce more. The mining process is what produces more of the coin. It may be useful to think of the mining as joining a lottery group, the pros and cons are the same. Mining crypto coins means you will really get to keep the full rewards of your efforts, but this reduces your likelihood of being successful. Instead, joining a pool means that, overall, members will have a greater potential for solving a block, but the reward will be divided between all members of the pool, based on the amount of “shares” won.
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