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The fact that there is little evidence of any increase in the use of virtual money as a currency may be the reason there are minimal attempts to control it. The reason behind this could be just that the marketplace is too small for cryptocurrencies to justify any regulatory attempt. It’s also possible the regulators simply do not understand the technology and its consequences, expecting any developments to act. Mining cryptocurrencies is how new coins are put into circulation. Because there’s no government control and crypto coins are digital, they cannot be printed or minted to produce more. The mining process is what creates more of the coin. It may be useful to think about the mining as joining a lottery group, the pros and cons are exactly the same. Mining crypto coins means you will really get to keep the total rewards of your efforts, but this reduces your likelihood of being successful. Instead, joining a pool means that, overall, members are going to have higher chance of solving a block, but the reward will be divided between all members of the pool, predicated on the amount of “shares” won.

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