INFINITY MINING TOKEN DEMOCRATIZES BITCOIN MINING
Bitcoin mining, in simple terms, can be described as the process of earning Bitcoin in exchange for running the process of validating Bitcoin transactions on the blockchain. These validation transactions provide security for the Bitcoin network, and in turn the miners are compensated with Bitcoin.
Bitcoin mining has quickly become a big business as several large corporations are in an active hash power arms race to acquire as much hash power as quickly as possible. It has become very difficult for an individual or even a group of individuals to operate their own Bitcoin mining operation as prices of mining rigs have followed the price increases of Bitcoin as denominated in USD. Infinity Mining Token seeks to allow individuals to be able to benefit from the groundbreaking financial movement behind Bitcoin and Bitcoin mining.
There are several major barriers of entry for an individual looking to solo mine Bitcoin including but not limited to: high startup costs, extreme noise levels from mining rig exhaust fans, heat output, having appropriate space to physically house miners and electricity costs. The decentralized and community-ran nature of Infinity Mining Token addresses all these problems, in addition to providing many extra benefits in comparison to solo mining Bitcoin. $IMT holders can earn passive Ethereum rewards for holding the token which they earn from every transaction in addition to being rewarded with Ethereum which has been converted from Bitcoin mined by the Infinity Mining decentralized Bitcoin mining farm.
Innovation in the Bitcoin mining sphere is always evolving. Intel corporation is currently developing a new, ultra low voltage ASIC (application-specific integrated circuit) mining rig. The decentralized and community operated nature of Infinity Mining Token allows us to always be on the cutting edge of innovation in terms of the hardware powering the mining rigs we operate. Our Decentralized Autonomous Organization (DAO) group for holders of 10 million or more $IMT will have direct voting rights on the future of the project, including the ability to vote on innovations such as holding of a community cryptocurrency portfolio, or mining alternative cryptocurrencies other than Bitcoin!
The term “Bitcoin Halving” refers to the number of BTC rewarded for a miner successfully completing a block by one half which occurs every four years. The mining difficulty also increases as time progresses, up until the hard cap of 21 million Bitcoin are mined. Both of these factors will put upward pressure on the value of Bitcoin. Infinity Mining Token will be able to dedicate a portion of mined Bitcoin as well as part of the 5% transaction tax on every buy and sell to replacing mining rigs as lower hash rate models are phased out over time.
The tagline on the $IMT website which states “Infinity Token Democratizes Bitcoin Mining” nicely sums up what Infinity Mining Token and Infinity Mining LLC is trying to accomplish: allowing individuals to benefit from Bitcoin mining with minimal effort required. We believe this approach is both unique and revolutionary and will help remove some of the power held by massive corporations in the Bitcoin mining space, shifting the advantage toward individuals.
Learn more about Infinity Mining Token at www.infinitytoken.io