Bitcoin mining isn't profitable anymore, miners are turning off their rigs, China runs Bitcoin mining, Bitcoin will soon be dead! Sounds familiar right? Let's discuss the latest research from Coinshares on Bitcoin mining, and have a realistic conversation around the positives, negatives and what the future holds.
Read the full report here:
https://coinshares.co.uk/wp-content/uploads/2018/11/Mining-Whitepaper-Final.pdf
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Firey death pit!
Also another good video. I appreciate you posting on the Steem blockchain too. Thanks.
My man!
This is a great research piece that could also help more become interested in actually mining as prices for equipment have come down... I think it is all about balance as the recent declines in prices would force miners to shutdown some rigs but will also reduce the difficulty which reduces costs. As these larger miners have the benefit of scale, it could layer in some balance in the economics currently seen of demand and supply.
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70% renewable sounds pretty incredible for the rigs we see on youtube lolz...Thanks for the vid!