A large number of mining machines are excluded because of the bitcoin price decrease. When the price of crypt valued falls, mining becomes less profitable compared to the prize received and the cost of electricity consumed by the equipment. This is added to costs in other services such as the Internet and maintenance of mining equipment and facilities.
Thanks to the difficulties of setting up mining in the Bitcoin network, miners working their machines will get bigger rewards at BTC, Though it could make higher profits in the future, as compared to the possible increase in bitcoin prices. However, each miners must calculate whether it is worth continuing at full speed or if it is more appropriate to reduce their production.
Yesterday, the mining pool reported that between 600,000 and 800,000 Bitcoin miners were excluded from mid-November. According to the release, the main reason for this is a decrease in the price of the crypton currency, resulting in a reduction in processing or Hashr network.
According to Blockchain Block Explorer data, Hashr Bitcoin dropped from 54 EH / s, at the beginning of November to 41 EH / s at the time of writing.
Adjusted Mined Trouble
Variations like those just mentioned in Hashr they cause other changes in the network because of the primordial feature of the Bitcoin protocol: Troubleshooting. Each 2016 blocks of mining difficulties in Bitcoin are adapted to increase or decrease processor power so that it does not affect network operation.
When there are fewer miners working, Hashr while production of blocks and bitcoin emission is lowered. Similarly, on the contrary, the greater the number of miners, the greater the number Hashr and networking is accelerating.
To set up a problem is responsible stabilize or balance the available mining energy and the difficulties in mining, so that the average blocking time is maintained in the standard of one block every 10 minutes, as expressed in the White Book of Bitcoins.
These difficulty changes directly affect the prize each mining receives for his work. When the problem is increased, the performance of the mining device decreases; while, if the problem is the one that is decreasing, the team's performance increases. The second described scenario turns into a higher reward for miners, as it will have less time on mines and receiving rewards will become more common.
In this respect it should be noted that Bitcoin miners are not the only ones facing this scenario. Before the generalized fall of the entire market, miners of all cryptoscopes using PoW are in the same position as those dedicated to the original cryptransfer. Eter (ETH), zcash (ZEC), monero (XMR), vancoin (SC), decred (DCR) and ethereum classic (ETC) these are some of the cryptographic currencies whose market value has also fallen; therefore, those who undermine them now are forced to re-evaluate their current-cost profits.
Miners less affected by the fall in cryptoactive markets are those who carry out this activity in places where electricity is very economical or has subsidies, which allows them to continue without much concern when trying to exploit the decline in mining difficulties.
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