Another Big Mining Reduction Inbound?
It seems like just yesterday large mining platform Hashflare kicked their miners back on for people. And while they said they reduced fees I find that hard to believe. Instead to me it was simply because bitcoin was $8,000 at the time and more money was being generated.
Just 24 hours after that we had a crash and a crash that still continues to this day. Which means all those hashflare contracts are dead again. Simply mining and costing to much for anyone to see any profits. Once we hit 21 days of that again the contracts will be put on hold. What does that mean? 2 month of mining to fill hashflare pockets and leave you with one or two very small profit days. What a rip hashflare seriously :D
Anywho with that said in just about 7 days if hashflare holds true all those mining platforms should power down and will we see a major fall in difficulty again? I think it will be some but it wont be a lot. It seems like miners just keep hammering away even though its not profitable. Heck I know people that run their CPUs all day long browser mining! I just sit there going hmmmm thats costing you about 3x what your making once your power bill comes in you know lol
*Screenshot taken from Bitcoinwidsdom
What we can see here is the point where hashflare turned off their services and back on again. while there are jumps and bumps it really had no effect at all heck i'm pretty sure they never powered them off.
Thanks for your article. Thumbs up and resteem!
Regards @rich.art.deluxe
In days like these, the flaws of PoW become more and more obvious...
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