A few days ago on BitcoinTalk, someone speculated that Bitcoin mining would no longer be profitable in the future. The analysis starts from the observation that whoever manages to mine a block currently cashes about $300,000. The future of Bitcoin mining and rules Since each block contains a little less than 3,000 transactions, they collect
A new draft of a bill to ban Bitcoin mining in New York State for two years was approved yesterday by members of the State Assembly’s Environmental Conservation Committee. The bill to ban Bitcoin mining in New York Bloomberg reports that the bill will establish a moratorium on Proof-of-Work mining operations. However, the proposal still
More bad news for the buyers of the Grin mining ASICs produced by Innosilicon. The company, in fact, announced today that it has again postponed the shipment of the first batch of products, which had already been postponed from October 2019 to December 2019, becoming now January 2020. Among the reasons given by the company
Michael Saylor, the head of MicroStrategy, now a longtime Bitcoin supporter and investor, has published a lengthy blog post in an attempt to erase the urban legends hovering around Bitcoin mining. Indeed, the post contains a number of points aimed at explaining how mining really works in terms of energy consumption. The article is aimed
HIVE Blockchain Technologies is one of the most famous and active companies in the cryptocurrency mining industry and has recorded interesting returns compared to 2018. The company became famous for the development of the Linux-based operating system of the same name (HiveOS) optimised for the mining of Ethereum, Monero and other cryptocurrencies, as well as
Annual inflation in the United States hit 5% recently, the highest it’s been in roughly a decade. The rate is skyrocketing in other parts of the world too, from Canada to China. Some economists and experts worry that this bout of inflation could persist longer than expected and permanently scar the global economy.Could Bitcoin be
With the sudden price collapse, the profitability of bitcoin mining also dropped. This is measured by comparing the cost of mining with the market value of the BTC that are being mined and is measured in USD per day for 1 THash/s. THash/s is the unit of measurement of the computational power for bitcoin mining
Traders of Crypto recently published a report analyzing the profits that can be made by mining cryptocurrencies. The cryptocurrencies that yield the most through mining Mining is an activity that can only be done with cryptocurrencies based on Proof-of-Work, since for those based on Proof-of-Stake, the validation of the blocks is left to the nodes
With a message on its Twitter account, the Zcash Foundation announced a new historical record of shielded transactions (those completely private) had been reached, with a peak of almost $743k in Zcash. Zcash cryptocurrency record and the new funding project User transactions totaled 400k, more than double last year’s transactions. This record follows an upward
Square, in collaboration with ARK Invest, has published a whitepaper to show how the mining of bitcoin could accelerate the energy transition to renewables. If bitcoin needs anything, it’s more white papers. In this one, @Square and @ARKInvest team up to argue for bitcoin as a key driver of renewable energy’s future: https://t.co/UmayxNtCFJ Hate reading?
