Bitcoin mining is a profitable venture with limited liquidity. Most miners had to choose between holding the equipment for years or relying on middlemen for sales. This lack of liquidity means that Bitcoin miners have several ways to hedge or profit from the price fluctuations of their mining machine. The same issues also discourage newcomers from seriously engaging in Bitcoin mining. Finally, traders often have an interest in acquiring Bitcoin mining risks in order to have these risks, while high transaction costs deter these traders.
Cloud mining is a flawed solution. While cloud mining reduces the barrier to entry to mining, the lack of standardization and strong product matching make it difficult for markets to form around mining contracts.
At this point; BTCST (Bitcoin Standard Hashrate Token) comes into play and offers a solution to this problem.
By standardizing and tokenizing mining power in BTCST and listing the token for exchange trading, we can bring currency-grade liquidity to the mining power market while meeting traders' need for mining exposure....
If you're ready, let's start …
What is BTCST (Bitcoin Standard Hashrate Token) … ?
Owning BTCST (Bitcoin Standard Hashrate Token) is legally and functionally equivalent to owning mining power. Staking BTCST on-chain entitles the staker to mining rewards in Bitcoin. Additionally, listing BTCST on major exchanges will bring meaningful liquidity to tokenized Bitcoin mining power.
What are the Advantages of BTCST … ?
BTCST (Bitcoin Standard Hashrate Token); It creates an efficient market among Bitcoin miners and those who want to be miners. Market participants can enter and exit mining by trading this token.
Even miners who do not have mining power tokenized by BTCST (Bitcoin Standard Hashrate Token) can use the token to earn income or hedge against risks of fluctuation in mining machine prices.
BTCST (Bitcoin Standard Hashrate Token); It brings miners together with investors. As the market price of BTCST will perform as a leveraged BTC; BTCST will cater to the diverse trading and needs of proprietary and algorithmic traders that were previously unattainable.
BTCST (Bitcoin Standard Hashrate Token); It can only be published and contributed when real Bitcoin mining power contributes to or is purchased by the project. Under the Contribution program, a miner can contribute mining power to the project in exchange for newly issued BTCSTs.
How is Staking Revenue with BTCST … ?
BTCST (Bitcoin Standard Hashrate Token); It claims mining rewards from the Bitcoin network and distributes these rewards to their holders. The project plans to partner with a reputable mining pool to claim mining rewards from the Bitcoin network. Mining power that collateralizes the token in exchange for mining rewards allocated by the pool will redirect it to the common pool. Centralization of this step is necessary to ensure accountability. The mining pool will act as both a service provider and an auditor monitoring mining power.
BTCST Price Chart
According to Coinecko data, the total supply of BTCST (Bitcoin Standard Hashrate Token) is 15,000,000. The circulating supply is 7,287,599 BTCST. However, the market value of the project, which has a trading volume of $86,502,933 in the last 24 hours, is $187,831,126.
The current price at which BTCST (Bitcoin Standard Hashrate Token) is traded is $28.14. However, on April 15, 2021, it made $91.94 ATH.
My Last Words; BTCST (Bitcoin Standard Hashrate Token) has gained 500% in the last week. This shows that the expected rally on the Bitcoin side is not far away. As Bitcoin appreciates, the value of BTCST will increase. With BTCST, you both invest in cryptocurrencies and earn additional income with Bitcoin mining thanks to BTCST tokens. Isn't it good… ?
If you enjoyed reading my article here at Publish0x, be sure to hit the follow button at the end of this post. Thank you for your continued support!!!
You can also follow me on Twitter if you wish.
You are walking for crypto. SWEAT is launching in September. Near Blockchain ...
Check out this free app — It Pays to Walk 🚶
Invest together with the smart money
Let the world’s best digital asset managers handle the trading. Share the profits.
