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Asic Jungle has launched a beta model of what it calls “the first-ever mining {hardware} market” for cryptocurrency mining {hardware}. The corporate’s CEO Artem Bespaloff informed Cointelegraph that he has created a trusted platform for second-hand mining gear that operates with none middlemen:
“[It’s] the primary and solely on-line market the place consumers can work together instantly with sellers by way of the platform and never have to make use of any brokerage companies or Telegram channels (I name them ‘sketchy’ Telegram channels) as a result of all kinds of issues go on there. And we determined to create this ecosystem the place consumers and sellers deal collectively between themselves.”
The corporate’s answer to those issues is a two-sided market that connects ASIC consumers and sellers in a safe and clear atmosphere. Based on Bespaloff, ASIC brokers at the moment cost excessive premiums which might be making the most of the market’s lack of value discovery mechanisms. He believes that these brokers create info asymmetry by withholding pertinent info.
Bespaloff stated that Asic Jungle upholds various safety features to make sure that transactions occur in a trusted atmosphere, together with an emphasis on AML compliance. Because the Canada-based firm might be serving clients from all around the world, they intend to conform with each native legal guidelines and laws and the compliance legal guidelines of the US.
Though mining gear turns into progressively much less environment friendly with the passage of time, Bespaloff assured that there’s loads of demand for second-hand gear in locations with very low cost or free power sources, like some areas in Canada and Venezuela — although the residents of the latter could also be excluded from participation in an effort to adjust to U.S. sanctions.
Each Bitcoin and Ethereum (ETH) have lately skilled record-setting hashrate will increase, indicating there might be no lack of curiosity in mining gear within the close to future.
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