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As the main Bitcoin digital asset (BTC) reported having lost the cost of break-even mining for the third time in the last few months, the economics of the Proof of Work (PoW) consensus algorithm has been questioned by a number of suspicious skeptics.
For example, in editorial content that has become a hot topic in the industry within minutes, a MarketWatch contributor said that Bitcoin (BTC), with its drought, was ready to enter the spiral of death considering the bearish market sentiment this has paralyzed the space this year.
The piece, once praised by
many fans of cryptocurrency, since then have been debunked. Not surprisingly, this
the peak has not crumbled into dust as initially claimed.
Yet, many like to beat
on the extraction of digital tokens. Recently, a number
of industry experts have targeted Ethereum (ETH). So after Bitcoin (BTC)
it was put in the spotlight, it's safe
Let's say that this is the turning point of Ethereum (ETH).
Ethereum Price (ETH) today – ETH / USD
The mining of Ethereum (ETH) remains profitable
Citing data collected from the friendly cryptographic quantity
Susquehanna trading group, small-scale mining operations are not feasible.
According to the report of the company based in Pennsylvania, the average Ethereum
(ETH) Miner with graphics card has seen monthly profits decrease from $ 150
registered in May 2017.
Second
Christopher Rolland with Susquehanna with Nvidia's flagship processor (GPU),
the return on investment and the GTX 1080, supplied, was depressing. So it is
logical to the current trajectories of profitability, most miners also miners who
wants to accumulate ETH can start to float from block processing.
However, in a piece illustrated by DeCrypt Media, Tim Copeland,
has denied the data provided by Susquehanna,
claiming that "Ether Miners are working". Peter Statsenko, a journalist
with Deutsche, he told Copeland that the cost of electricity needed to reach
The Ethereum mines are $ 0.15 per KWH. With the remaining kilowatt hour rates
under this figure in several countries, namely Venezuela, Canada and China,
there are probably a large number of miners who continue to guarantee their facilities
connected.
Mining away from profitable areas with high electricity
costs
It's important
indicate that in the majority of
Countries where low-cost electricity is scarce, mining can not be financially
advantageous. OVOEnergy has presented a report
that Japan's average electricity rate is now above $ 0.26 per KWH brand that
it is far beyond the level at which miners can work.
Interestingly, the hashrate statistics of
the Ethereum network has reflected
the bombardment of several retail miners. The figure has decreased by 33% since then
Bitcoin started its recent downturn last month.
Constantinople could still chase crypto miners
Prospects may seem overly sad to the backbone of Ether, but commentators and analysts in space have indicated that the assault is not close to being over. In a tweet sequence that recently discussed the topic from the top down, a crypto-friendly market analyst, Alex Kruger, explained that the miners left standing are not clear.
According to Kruger's analysis, miners who pay $ 0.06 per KWH in electricity bills will have an operating break-even of $ 67, and currently $ 35 (-35%) that is even below the current market value of Ether.
reported
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