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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 regulate it. The reason behind this could be simply that the marketplace is too little for cryptocurrencies to warrant any regulatory effort. It is also possible that the regulators simply don’t understand the technology and its consequences, expecting any developments to act. Mining cryptocurrencies is how new coins are put into circulation. Because there’s no government control and crypto coins are digital, they cannot be printed or minted to create more. The mining process is what produces 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’ll get to keep the full rewards of your efforts, but this reduces your chances of being successful. Instead, joining a pool means that, overall, members are going to have greater possibility of solving a block, but the benefit will be split between all members of the pool, predicated on the amount of “shares” won.

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