Is the crypto mining industry a free market?

[Niyi Briggs]

On one hand, it could be argued that the industry is a free market because it operates independently of government control and allows individuals to freely participate in mining and trade cryptocurrencies. On the other hand, some argue that the industry is not a free market because of the concentration of mining power in the hands of a few large companies and the high barriers to entry for new miners.

What do you think? Is the cryptocurrency mining industry a free market, or is it dominated by a few powerful players?

 

[riberet19]

I think this depends on the currency you want to mine, it is true that for currencies like Bitcoin the computing power you need to mine it is quite large, which makes the big shots and those who already have the machinery amortized get the most piece of the cake and it is normal, but there are different currencies such as Ravencoin Helium among others which you can mine without so much investment or even Monero which you can even mine from your Smartphone, all this is relative.

 

[uptrendfinancialsignal]

Crypto mining industry is indeed a very free market where each and every individual can take opportunity. This is why cryptocurrency is often better because it is decentralized and you can manage and take control of your investment.

 

[Reedex]

The cryptocurrency mining is a free market for everyone to enjoy and it is one of the network that you will always want to get acquainted to because you can make reasonable amount of money from it.

 

[flower]

Cryptocurrency has made it an opportunity for those who want to tap into the mining opportunities to mine effortlessly with less stress provided you have all the materials that is needed to tap into the mining network

 

[Yohanna]

The cryptocurrency mining industry is not a free market and it is very important to I'm sure that you take into commissions different information about mining.

 

[riberet19]

The cryptocurrency mining industry is not a free market and it is very important to I'm sure that you take into commissions different information about mining.

Why do you say it's not a free market? If you have the necessary hardware and can pay the bills that this entails you can join the network and help mine without any impediment from a third party.

 

[Niyi Briggs]

It is a free market but the game changer is the level of investments that you have. If you don't have enough funds to invest into mining,, you would feel it is a monopoly.

 

[Yohanna]

It is a free market but the game changer is the level of investments that you have. If you don't have enough funds to invest into mining,, you would feel it is a monopoly.

The cryptocurrency mining is a free space in that anyone can participate in it.