[ad_1]
Bitcoin's data mining difficulty (BTC) recorded its second largest decline in history, with a -15 percent adjustment on Monday, December 3, according to data provided by China's main mining center BTC.com.
The Bitcoin hashing hashing algorithm is normally adjusted every two weeks to maintain the normal 10 minute blocking time. It was changed for the second time today from the beginning of a so-called "winter crypt" in mid-November, after which the difficulty in the extraction of Bitcoin has decreased steadily.
The most recent adjustments to Bitcoin hashing difficulty. Source: btc.com
The biggest drop in the history of Bitcoin's difficulties occurred on October 31, 2011, with a -18% adjustment, while another decline (-13%) in mid-October 2011 is the third largest of this decrease.
A recent adjustment of Bitcoin hashing difficulties was preceded by a massive market downturn, with Bitcoin losing more than a third of its price since November 14, according to CoinMarketCap. The financial experts have attributed the market crash to regulatory pressure, the hash rate war after the controversial fork of Bitcoin Cash and the "terrible" condition of global markets.
The reduction of the difficulty, together with the market panic and the devaluation of the currencies are forcing the miners to stop. In September, the CEO of the Chinese encrypted mining pool F2Pool Shixing Mao revealed data on mining profitability.
According to Mao, the breakeven point for Bitcoin was between $ 3,891 and $ 11,581, depending on the make and model of equipment used. At the time of the forecast, Bitcoin was trading around $ 6,400.
At the end of November, a week after the massive drop in Bitcoin around $ 4300, Chinese miners would start selling mining machines by weight, unlike the unit price. According to an F2Pool post, miners are particularly eager to sell old models, including Antminer S7, Antminer T9 and Avalon A741, as they have reached their "closing price".
After a slight recovery over the weekend, where Bitcoin managed to stay slightly above $ 4000, the most important cryptocurrency in the world collapsed again today, December 3. At the time of printing, Bitcoin traded at $ 3,887.09, down 7.22% in the 24 hours.
[ad_2]Source link
