Bitcoins Mining Difficulty Is About To Get Much Easier
Bitcoin is about to reset to mining difficulties we have not seen since June of this year.
Even thought the price of bitcoin has been decreasing all year long from $19,000 all the way down to $3,500 bitcoins mining difficulty has been increasing none stop. But perhaps that time has come where miners are powering down after hashing the heck out of a decreasing crypto for the last 11 months.
The next difficulty adjustment should be about 14%-15% easier to mine bitcoin then it was with the last reset. Blocks also take about 12 minutes at the moment instead of 10 minutes.
So what might be going on here?
It honestly seems to be coming back to the Bitcoin cash war yet again.
The none stop war between bitcoin, bitcoin cash SV and Bitcoin cash ABC now. This war is destroying the cryptocurrency space instead of helping it and these people need to stop being supported.
If you own ANY Bitcoin cash Bullshit coin sell it now and don't mine it. Your only hurting the entire cryptocurrency sphere by doing so.
Craig Wright said he would be selling large amounts of bitcoin in order to fuel their mining power for their version of bitcoin cash.
Bitcoin cash has been mining and bleeding money. The entire thing is dragging the markets down and guess what people its your money they are using! Again I say stop buying bitcoin cash and stop mining this crap of a blockchain and the people behind it.
agreed!
For now, yes. But the general trend is still going up:
Check out my post for Bitcoin's price forecast, based on the 2014 trend!
nah these are major reductions since bitcoin cash came out
Renewable energy is probably the reason most miners are still in the game. It cheaper to use and run. The fact about 70% of of hashrate uses renewable energy is both :P Green in eco and $
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Valor2S from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.
That strategy they have is unsustainable so it will eventually give it... That, along with the further collapse of projects unable to deliver could lead to a consolidation of funds that will be placed back into the survivors and finally create a bottom.
Posted using Partiko iOS