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The Financial Cost
Mining cryptocurrencies require enormous amounts of capital infusion with average cost of $23 Million and up including electricity, maintenance, and other related expenditures.
The draw back to this approach is that it does little to maintain the volatility of cryptocurrencies throughout the global markets while focusing on the fact that large buyers of Bitcoin and Ethereum have buy contracts on newly mined tokens and coins thus concentrating the power in fewer and fewer hands while increasing these large buyers the ability to manipulate the markets in their favor.
It is these practices which alienate the average person from taking part in the new wealth trends fueled through the mining of cryptocurrencies and therefore does little to close the wealth gap through this rapidly expanding technology available to the select few.
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