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The fact that there is little evidence of any increase in the use of virtual money as a currency may be the reason why there are minimal efforts to regulate it. The reason for this could be just that the marketplace is too small for cryptocurrencies to justify any regulatory attempt. Additionally it is possible the regulators just don’t comprehend the technology and its consequences, expecting any developments to act. Mining cryptocurrencies is how new coins are put into circulation. Because there is no government control and crypto coins are digital, they cannot be printed or minted to make more. The mining process is what creates more of the coin. It may be useful to consider the mining as joining a lottery group, the pros and cons are the same. Mining crypto coins means you will 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 are going to have greater potential for solving a block, but the reward will be divided between all members of the pool, according to the amount of “shares” won.
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