One of the largest mining encryption pools, F2Pool, has published in Weibo that due to the significant decrease in the price of Bitcoin and other altcoins, encryption operations are running out of equipment. What is more important, the sale is done not by units but by kilos.
The price of Bitcoin has reached its minimum, less than $ 4000, last weekend, is about 80 percent lower than in December 2017. This has influenced the entire mining industry itself, therefore, F2Pool reported the cost of maintenance and management of such equipment is higher than the profit deriving from mining.
Let's take a look at the figures. If a car cost $ 2885 a year ago, now the price would drop to $ 144. It's only 5% of its original value.
The relationship emerged right in the middle of a so-called "hash war". About 10 days ago, Bitcoin money blockchain divided into two new chains, this fact is known as "hard fork". Supporters of these two chains are employing large amounts of mining powers to make their chain the dominant network.
According to Finance Magnates, some people, one of whom is Craig Wright, who has publicly identified himself as Satoshi Nakamoto, calculates that this "hash war" is guilty for decreasing cryptocurrency prices on the entire market, as large amounts of Bitcoin could be sold to pay for the rented hash power.
To all the BTC miners …
If you switch to my BCH, we may have to finance this with BTC, if we do, we sell for USD and, well … we think the BTC market has no space … it accumulates.
Think about it. We will sell a lot!
And have a good day
(BTC at 1000 does not spill me) pic.twitter.com/oUScEahtWc
– Dr Craig S Wright (@ProfFaustus) November 14, 2018
Do you remember
The forecast of Bloomberg analysts: the Bitcoin rate will fall to $ 1,500
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