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A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
GigaHashMiner.io is an Iceland based new generation bitcoin mining firm .The company own and operates most energy efficient state of the art mining farm in Iceland. GigaHash offers ERC20 based tokenized cloud contracts named as GHS. Each GHS token will be backed by 1 GH/s of mining power. Tokens will be tradable in external exchanges as well as pays daily dividend based on mining profitability
Bitcoin Mining Hash Rate Plummets To 35 EH/s, Increasing Centralization Of Bitcoin Mining
https://preview.redd.it/7qe13wsg3yz11.jpg?width=600&format=pjpg&auto=webp&s=cdb3cb372c118e1bde3b75332739ab61ca868e21 http://genesisblocknews.com/bitcoin-mining-hash-rate-plummets-to-35-eh-s-increasing-centralization-of-bitcoin-mining/ The Bitcoin mining hash rate had been exponentially increasing from 2009 through August 2018, from MH/s, to GH/s, to TH/s, to PH/s, and now EH/s. The all-time record high for Bitcoin’s mining hash rate was 62 EH/s on 26 August 2018. After that point the trend broke, and Bitcoin’s mining hash rate plateaued. This was due to a combination of two factors. First, the Bitcoin bear market brought Bitcoin’s price down from USD 20,000 to about USD 6,500, making mining much less profitable. Second, Bitcoin’s mining difficulty had been rapidly rising despite the bear market, as all the new hash power came online. The end result was there was no more room to profitably add hashing power to the Bitcoin network. It was thought that Bitcoin’s support level was solidly at USD 5,800, but that paradigm broke when Bitcoin Cash forked, the Securities and Exchange Commission began to launch catastrophic civil penalties against initial coin offerings (ICOs), and the launch of physical Bitcoin futures on Bakkt was delayed. This trifecta of extremely bad news within 1 week has brought Bitcoin’s price down to USD 4,400. This unexpected crash in Bitcoin’s price has been destructive for the mining industry. Many mining farms were right at the break even point, or perhaps even losing some money, but expecting Bitcoin to go up in the near future so they kept mining. Now Bitcoin’s hash rate has plummeted to 35 EH/s, implicitly indicating about 25 EH/s of Bitcoin mining rigs have been taken offline since they are no longer profitable due to electricity costs. This represents billions of USD of Bitcoin mining equipment going to complete waste, since Bitcoin mining rigs have no real use besides mining Bitcoin. The events unfolding in the Bitcoin mining space could spell doom for mining rig manufacturers. Now the market for rigs is completely over-saturated, and any demand for rigs has probably dried up. Mining rig manufacturers could perhaps rectify this by rapidly developing cutting-edge technology, like what Bitmain did when they recently released 7 nm rigs. Speaking of Bitmain, no matter how good their technology is, unless Bitcoin’s price rises soon they are going to experience their lowest sales numbers in history. There is a chance this will throttle their attempt at an initial public offering (IPO) on the Hong Kong Stock Exchange, and if that IPO falls apart that will send more shockwaves through the crypto space. On a final note, Bitcoin mining supersites that cost hundreds of millions of USD have been popping up across the globe recently, and these have been forcing personal miners out of business, since the supersites are far more cost effective per unit of hash rate. The crash in Bitcoin’s mining hash rate we are seeing right now could very possibly be individual miners collectively shutting down their rigs, leaving just the supersites. This could drastically increase the centralization of the Bitcoin mining network, and therefore increase the centralization of Bitcoin itself. GenesisBlockNews believes it is a dangerous trend for Bitcoin’s hash rate to increasingly be in the control of a select few corporations.
The higher the hashrate of one individual Bitcoin mining machine, the more bitcoin that machine will mine. The higher the hashrate of the entire Bitcoin network, the more machines there are in total and the more difficult it is to mine Bitcoin. Another way of looking at it, is that hashrate is a measure of how healthy the Bitcoin network is. Hash Range can provide CPU-mining possibilities on the Web. the CPU of active computers on the Web start processing the hashes and mining the cryptocurrency. this kind of mining is performed via Web, and supercloud can use the power of the processors in a way to mine the most profitable coin. An upward adjustment in Bitcoin mining difficulty is typically linked to an likewise increase in network hashing power—the amount of computing power on the network. Indeed, on August 15, Bitcoin's hash rate hit its own record high of 136 exahashes per second (EH/s). There are some important factors to look at when determining which Bitcoin mining ASIC to buy: Hash rate – How many hashes per second can the Bitcoin miner make? More hashes cost more, which is why efficiency is crucial. Efficiency – You’ll want to buy the most efficient bitcoin mining hardware possible. Right now, this is the Halong ... Along with the Bitcoin mining profitability, the list of top 5 ASIC Bitcoin miners is updated frequently. A Bitcoin miner is also referred to as a Bitcoin mining rig, or a Bitcoin mining hardware device, or a Bitcoin mining machine, but we simply call them miners, or more specifically, Bitcoin miners.
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