Crypto Terms: Letter M

What is MilliBitcoin?

Meaning:

MilliBitcoin - is a sub-unit of Bitcoin, which is equivalent to the one-thousandth of a BTC.

hard

3 minutes

Let's find out MilliBitcoin meaning, definition in crypto, what is MilliBitcoin, and all other detailed facts.

Bitcoin is the most well-known cryptocurrency in the world. Since its introduction in 2009, the price of BTC has climbed at a parabolic rate. Despite dips, peaks, and troughs, zooming out reveals a consistent increase. As a consequence, its price has climbed from less than $0.01 to its current level.

Therefore, if you plan to retain your BTC, μBTC, or satoshi for the same length of time you would keep a property, BTC is an excellent investment option. Generally, nations are adopting Bitcoin as a tool for individuals to exchange and store wealth. In fact, adoption rates have recently increased.

To put things into perspective:

1 BTC = 1,000 μBTC.

Hence, 1 μBTC is about 58.45 USD.

Because only 21 million Bitcoins can ever be mined, Bitcoin is a deflationary token, suggesting that its value will climb as it gets rarer. Bitcoins have near-infinite worth since they are supported by a code rather than a real object like gold. This allows Bitcoin holders to keep and effectively split their Bitcoin into multiple units, enabling them to price items depending on their perceived value.

Yet, since it is a store of wealth, usage has lately increased. Because the cryptocurrency's value in relation to the US dollar is variable and it is not commonly acknowledged as a unit of account, there are presently several words that each correlate to a sub-unit of Bitcoin.

Bitcoin was designed to be a word for a new sort of peer-to-peer monetary system as well as the system's primary currency. Bitcoins, or BTC as they are abbreviated, have risen to prominence as the dominant cryptocurrency and the first monetary system running on blockchain technology.

Bitcoin may be split into microbitcoins (mBTC), millibitcoins (BTC), and satoshi in the same manner as fiat money. For instance, such as the US Dollar, which can be split into entire units like Dollars and cents (one-hundredth of a dollar).

Those that are aware of nickels (5c), dimes (10c), and quarters should also be aware of the US currency system (25c). Likewise, BTC may be subdivided for convenience of usage and usefulness. It is sometimes referred to as digital gold and possesses all of the positive characteristics of a currency, such as:

BTC is movable.
Different from money, it can’t be taken away as a result of its decentralized nature.
When it comes to international transfers, it might occasionally be quicker than the money transactions.
It is adapted in various services such as hotels and restaurants.

Furthermore, a satoshi (the smallest unit of Bitcoin) was named after Satoshi Nakamoto. In October of 2008, Satoshi Nakamoto issued the Bitcoin whitepaper and the very first block was created in January of the following year.

1 Bitcoin = 1,000 μBTC = 100,000,000 satoshi

However, units larger than BTC are:

1daBTC (deca Bitcoin) is equal to 10 BTC

1hBTC (hecto Bitcoin) is equal to 100 BTC

1kBTC (kilo Bitcoin) is equal to 1,000 BTC

1MBTC (mega Bitcoin) is equal to 100,000 BTC

All in all, Bitcoin was designed to be a word for a new sort of peer-to-peer monetary system as well as the system's primary currency. Bitcoins, or BTC as they are abbreviated, have risen to prominence as the dominant cryptocurrency and the first monetary system based on blockchain technology.

asset (e.g. <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-bitcoin-btc/">Bitcoin) can vary so dramatically. Think about it, there are a lot of different groups with their own mimetic desires. Some mainstream investors believe that Bitcoin is viable and profitable<\/strong> while other early adopters advise each other to “<a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-hodl/">HODL” the coin even when it’s falling in value. Thus, different mimetic desires make people act differently<\/strong>, which results in constant changes in asset prices.<\/p>\n<h3>An example of Mimetic Theory<\/h3>\nA great illustration of the mimetic theory in the world of <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-cryptocurrency/">crypto was when Elon Musk changed his mind about Bitcoin. At first, he stated that he supports this currency, which was great for its popularity. However, as soon as he said that he changed his mind about it and he doesn’t support it anymore<\/strong> because of the environmental concerns, Bitcoin prices began to fall.<\/p>\nDespite the fact that Musk had no direct influence over Bitcoin values, he served as a mimetic model for individuals who aspired to live an entrepreneurial, high-tech lifestyle using the ways that Musk promoted<\/strong>. This backlashed at him later because he was accused of manipulating the market.<\/p>\n<h3>The Downside of Mimetic Theory<\/h3>\nGirard's Mimetic theory has a basic flaw in that it exaggerates its claim by attempting to explain every facet of human nature and assuming that there are no acceptable alternative explanations for the occurrences he discusses. <\/p>\nFor instance, in the theory, it is assumed that EVERYONE makes independent decisions based on how others value specific goods<\/strong>. Let’s get back to the example of the Apple iPhone. Yes, there are a lot of individuals that choose it just because it is popular. <\/p>\nHowever, not everyone does, there are a lot of people who don’t care about the popularity of Apple and would probably choose an equally good smartphone from another brand that costs much less. Therefore, the mimetic theory overlooks the possibility that individual liberty<\/strong> could triumph over a communal culture which values certain objects.<\/p>","definition":"a theory that describes human behavior and culture, as well as how objects become desirable to humans when examined in the context of economics.","status":"published","meta_title":"What is Mimetic Theory? Definition & Meaning | Crypto Wiki","meta_description":"Mimetic Theory meaning: Mimetic Theory - a theory that describes human behavior and culture, as well as how objects become desirable to humans when examined in the context of economics.","meta_keywords":null}" :prev-section="{"id":511,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Market_capitalization#Market_cap_terms","level":"medium","author_id":1,"created_at":"2023-06-19T06:59:00.000000Z","updated_at":"2023-10-17T23:20:20.000000Z","slug":"what-is-mid-cap","title":"What is Mid-Cap?","section":"M","keyword":"Mid-Cap","content":"Mid-cap<\/strong> is a metric that defines the value of <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-cryptocurrency/">cryptocurrencies with market capitalization between $1 billion and $10 billion. Market capitalization is a metric that determines the true worth of a cryptocurrency. The main three categories of market cap are small-cap, <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-mid-cap/">mid-cap, and <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-large-cap/">large-cap. All crypto assets on price tracking platforms fall under one of the three categories.<\/p>\nMarket cap is used to determine the dominance and popularity of a cryptocurrency. It can be calculated by multiplying the total number of <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-token/">tokens by their price. Circulating cap, a metric that reveals the difference between the total number of tokens currently in circulation and their overall <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-max-supply/">max supply<\/strong><\/a>, can also be used.<\/p>\nThe categorization by market cap means that crypto assets are grouped according to their risk factor and popularity. Some of the underlying factors of a market cap are the strength of the crypto project, its fundamental values, <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-volatility/">volatility, <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-liquidity/">liquidity, and responsiveness to market trends.<\/p>\nMid-cap crypto assets have a market capitalization ranging between $1 billion and $10 billion. Such projects are perceived as well-established and are expected to expand in the new future. Tezos (XTZ), Monero (XMR), and VeChain (VET) are some of the most popular mid-cap crypto assets at the time of writing.<\/p>\nAlthough the market capitalization of mid-cap crypto assets is smaller than that of large-cap cryptocurrencies, their growth potential is greater<\/strong> as they are seen to be continuously increasing their market and use cases.<\/p>\nMid-cap crypto assets can be perceived as risky due to their potential to depreciate. Their value can fluctuate due to the lack of establishment compared to large-cap crypto assets.<\/p>\nMid-cap cryptocurrencies can be used to diversify a crypto portfolio as they tend to perform well over time. However, this is not a guarantee of all mid-cap crypto assets, so further research into individual coins is highly recommended.<\/p>\nAlthough there have been many notable examples of mid-cap crypto assets growing significantly, it’s not unlikely for them to disappear from the market due to depreciation.<\/p>\nAside from market capitalization, some other criteria are used to determine the popularity and dominance of a crypto asset. More subjective factors, such as the team involved in the project, its fundamentals, technical aspects, and value proposition can also play an important role in determining the popularity of a coin.<\/p>","definition":"a metric used to determine the market value of cryptocurrencies with a market capitalization ranging between $1 billion and $10 billion.","status":"published","meta_title":"What is Mid-Cap? Definition & Meaning | Crypto Wiki","meta_description":"Mid-Cap meaning: Mid-Cap - a metric used to determine the market value of cryptocurrencies with a market capitalization ranging between $1 billion and $10 billion.","meta_keywords":null}" :model="{"id":496,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Bitcoin#Units_and_divisibility","level":"hard","author_id":1,"created_at":"2023-06-19T06:59:00.000000Z","updated_at":"2023-10-17T23:25:42.000000Z","slug":"what-is-millibitcoin","title":"What is MilliBitcoin?","section":"M","keyword":"MilliBitcoin","content":"<a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin is the most well-known cryptocurrency in the world. Since its introduction in 2009, the price of BTC has climbed at a parabolic rate. Despite <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-dip/">dips, peaks, and troughs, zooming out reveals a consistent increase. As a consequence, its price has climbed from less than $0.01 to its current level.<\/p>\nTherefore, if you plan to retain your BTC, μBTC, or <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-satoshi-sats/">satoshi for the same length of time you would keep a property, BTC is an excellent investment option. Generally, nations are adopting Bitcoin as a tool for individuals to exchange and store wealth. In fact, adoption rates have recently increased.<\/p>\nTo put things into perspective:<\/p>\n1 BTC = 1,000 μBTC.<\/p>\nHence, 1 μBTC is about 58.45 USD.<\/strong><\/p>\nBecause only 21 million Bitcoins can ever be <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-mining/">mined, Bitcoin is a deflationary token, suggesting that its value will climb as it gets rarer. Bitcoins have near-infinite worth since they are supported by a code rather than a real object like gold. This allows Bitcoin holders to keep and effectively split their Bitcoin into multiple units, enabling them to price items depending on their perceived value. <\/p>\nYet, since it is a store of wealth, usage has lately increased. Because the cryptocurrency's value in relation to the US dollar is variable and it is not commonly acknowledged as a unit of account, there are presently several words that each correlate to a sub-unit of Bitcoin.<\/p>\nBitcoin was designed to be a word for a new sort of peer-to-peer monetary system as well as the system's primary currency. Bitcoins, or BTC as they are abbreviated, have risen to prominence as the dominant cryptocurrency and the first monetary system running on blockchain technology.<\/p>\nBitcoin may be split into microbitcoins (mBTC), millibitcoins (BTC), and satoshi in the same manner as <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-fiat/">fiat money. For instance, such as the US Dollar, which can be split into entire units like Dollars and cents (one-hundredth of a dollar).<\/p>\nThose that are aware of nickels (5c), dimes (10c), and quarters should also be aware of the US currency system (25c). Likewise, BTC may be subdivided for convenience of usage and usefulness. It is sometimes referred to as digital gold and possesses all of the positive characteristics of a currency, such as:<\/p>\n<ul>\n<li>BTC is movable.<\/li>\n<li>Different from money, it can’t be taken away as a result of its decentralized nature.<\/li>\n<li>When it comes to international transfers, it might occasionally be quicker than the money transactions.<\/li>\n<li>It is adapted in various services such as hotels and restaurants.<\/li>\n<\/ul>\nFurthermore, a satoshi (the smallest unit of Bitcoin) was named after <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//who-is-satoshi-nakamoto/">Satoshi Nakamoto<\/strong><\/a>. In October of 2008, Satoshi Nakamoto issued the Bitcoin whitepaper<\/strong> and the very first block was created in January of the following year.<\/p>\n1 Bitcoin = 1,000 μBTC = 100,000,000 satoshi<\/p>\nHowever, units larger than BTC are:<\/p>\n1daBTC (deca Bitcoin) is equal to 10 BTC<\/p>\n1hBTC (hecto Bitcoin) is equal to 100 BTC<\/p>\n1kBTC (kilo Bitcoin) is equal to 1,000 BTC<\/strong><\/p>\n1MBTC (mega Bitcoin) is equal to 100,000 BTC<\/p>\nAll in all, Bitcoin was designed to be a word for a new sort of <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-peer-to-peer-p2p/">peer-to-peer monetary system as well as the system's primary currency. Bitcoins, or BTC as they are abbreviated, have risen to prominence as the dominant cryptocurrency and the first monetary system based on blockchain technology.<\/p>","definition":"is a sub-unit of Bitcoin, which is equivalent to the one-thousandth of a BTC.","status":"published","meta_title":"What is MilliBitcoin? Definition & Meaning | Crypto Wiki","meta_description":"MilliBitcoin meaning: MilliBitcoin - is a sub-unit of Bitcoin, which is equivalent to the one-thousandth of a BTC.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\nWith close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\nAaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\nAaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}" :chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? 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Trailblazer","status":"published","modified_content":null},{"chapter_id":2,"order":16,"slug":"what-is-algorand-crypto","title":"Did Algorand Truly Solve the Blockchain Trilemma?","status":"published","modified_content":null},{"chapter_id":2,"order":17,"slug":"what-is-olympus-dao","title":"Does Olympus DAO Have Anything to Do With Mythology?","status":"published","modified_content":null},{"chapter_id":2,"order":18,"slug":"what-is-avax","title":"Is Avalanche Network (AVAX) Rightfully Called the Future of DeFi?","status":"published","modified_content":null},{"chapter_id":2,"order":19,"slug":"what-is-monero-coin","title":"Monero: Where Cryptocurrency Meets Cryptography","status":"published","modified_content":null},{"chapter_id":2,"order":20,"slug":"what-is-ripple-xrp","title":"Is Ripple \"it\" When it Comes to Cross-Border Transactions?","status":"published","modified_content":null},{"chapter_id":2,"order":21,"slug":"practical-use-of-cryptocurrencies","title":"The Practical Use of 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Standards","status":"published","modified_content":null},{"chapter_id":3,"order":5,"slug":"how-to-buy-crypto","title":"From Fiat to Crypto: How to Buy Crypto for the First Time","status":"published","modified_content":null},{"chapter_id":3,"order":6,"slug":"fiat-to-crypto","title":"Taking Profits: Turning Crypto Into Fiat","status":"published","modified_content":null},{"chapter_id":3,"order":7,"slug":"how-to-use-crypto","title":"You\u2019ve Got Crypto: What Can You Do With It?","status":"published","modified_content":null}]},{"id":4,"title":"Crypto Wallets","slug":"crypto-wallets","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-wallets.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-wallets-101.jpg","rating":80,"sections":[{"chapter_id":4,"order":1,"slug":"what-is-a-crypto-wallet","title":"What is a Crypto Wallet?","status":"published","modified_content":null},{"chapter_id":4,"order":2,"slug":"hot-wallet-vs-cold-wallet","title":"Hot Wallet VS Cold Wallet: Which One to Pick?","status":"published","modified_content":null},{"chapter_id":4,"order":3,"slug":"non-custodial-wallet","title":"What are Non-Custodial Crypto Wallets?","status":"published","modified_content":null},{"chapter_id":4,"order":4,"slug":"what-is-metamask","title":"Metamask: The Leading Non-Custodial Wallet","status":"published","modified_content":null},{"chapter_id":4,"order":37,"slug":"how-safe-is-cryptocurrency","title":"The Key Crypto Wallet Safety Practices: How Safe Can Crypto Be?","status":"published","modified_content":null}]},{"id":5,"title":"NFTs","slug":"nfts","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-nfts.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/nfts-101.jpg","rating":100,"sections":[{"chapter_id":5,"order":2,"slug":"how-to-trade-nfts","title":"NFT Trading: The Ins and Outs","status":"published","modified_content":null},{"chapter_id":5,"order":3,"slug":"buying-nft","title":"Tips and Tricks of Choosing the Right NFTs","status":"published","modified_content":null},{"chapter_id":5,"order":4,"slug":"how-to-store-nft","title":"How to Store NFTs: Best Practices","status":"published","modified_content":null},{"chapter_id":5,"order":5,"slug":"how-to-create-an-nft","title":"How to Create Your Own NFTs?","status":"published","modified_content":null},{"chapter_id":5,"order":6,"slug":"how-to-make-passive-money-with-nft","title":"Making Passive Money with NFTs","status":"published","modified_content":null}]},{"id":6,"title":"dApps & Defi","slug":"dapps-and-defi","updated":true,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-dapps.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/dapps-defi-101.jpg","rating":80,"sections":[{"chapter_id":6,"order":1,"slug":"what-are-nfts","title":"What are Non-Fungible Tokens (NFTs)?","status":"published","modified_content":null},{"chapter_id":6,"order":1,"slug":"what-is-defi","title":"What is Decentralized Finance (DeFi)?","status":"published","modified_content":null},{"chapter_id":6,"order":2,"slug":"what-is-defi-2-0","title":"DeFi 2.0: The New Version of Decentralized Finance","status":"published","modified_content":null},{"chapter_id":6,"order":3,"slug":"what-are-dapps-in-crypto","title":"What Are dApps and How Do They Work?","status":"published","modified_content":null},{"chapter_id":6,"order":4,"slug":"defi-dapps","title":"Picking the Right dApps: Dos and Don'ts","status":"published","modified_content":null},{"chapter_id":6,"order":5,"slug":"what-is-web-3-0","title":"Web 3.0: The Future of the Internet","status":"published","modified_content":null},{"chapter_id":6,"order":6,"slug":"what-are-smart-contracts","title":"What is the Core Purpose of Smart Contracts?","status":"published","modified_content":null},{"chapter_id":6,"order":7,"slug":"what-is-a-dao-in-crypto","title":"The Notion of a Decentralized Autonomous Ogranization (DAO)","status":"published","modified_content":null},{"chapter_id":6,"order":8,"slug":"what-is-staking-in-crypto","title":"What is the Goal of Staking Crypto Assets?","status":"published","modified_content":null},{"chapter_id":6,"order":9,"slug":"what-is-liquidity-pool-in-crypto","title":"What is a Liquidity Pool and How Does It Work?","status":"published","modified_content":null},{"chapter_id":6,"order":10,"slug":"what-is-automated-market-maker","title":"Automated Market Maker: the Cornerstone of the Decentralized Crypto Exchange Industry","status":"published","modified_content":null},{"chapter_id":6,"order":11,"slug":"what-is-yield-farming-in-crypto","title":"The Main Yield Farming 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Tokens?","status":"published","modified_content":null},{"chapter_id":8,"order":5,"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","status":"published","modified_content":null},{"chapter_id":8,"order":46,"slug":"portfolio-diversification-definition","title":"Portfolio Diversification: The Whats, the Whys, and the Hows","status":"published","modified_content":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-mining.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-mining-101.jpg","rating":80,"sections":[{"chapter_id":9,"order":1,"slug":"what-is-crypto-mining","title":"Crypto Mining: What It is and How Does It Work?","status":"published","modified_content":null},{"chapter_id":9,"order":2,"slug":"what-is-a-mining-pool","title":"Mining Pools: Is Collective Mining Better Than Solo 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