Bitcoin Miners Face Obstacles
SPREAD the WORD about DTUBE!!
Amidst falling prices and rising competition, bitcoin mimers are going to be facing a profitability crunch if prices continue to fall.
Residents in a New York town are victim to a large hike in electricity prices, due to a mining operation sending them far over their quota.
This raises more questions in the debate between proof of work and proof of stake.
What are your thoughts?
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As such period you can't fall asleep if you are a btc holder 😁
@investing it is the play, the spectative every minute; news and changes.
I like this post. I voted you
Actually, you ask good questions, because if we answer them it will be easier for you to predict what will happen in the markets in the future.
It can't be smooth sail forever, man, there should always be some obstacles.
Mining has always been high volatility but difficulty is unlikely to drop as hardware is already a sunk cost and most big miners have very cheap or free electricity!
This is a great time to invest if you can afford to at all.
That said, I generally prefer alternative methods for consensus instead of proof of work. Unless you're putting all that electric usage to work actually accomplishing something the way SONM does, why be so wasteful?
But I know that mining some coins that can be mined with a simple CPU or GPU democratizes access to crypto, because people in many countries have a hard time being able to invest in crypto with fiat. They have already been locked out of fiat, so we don't want them also locked out of crypto.
This is one of the reasons I love Steemit so much. Here you can earn STEEM with "proof of brain" so everyone can participate, and energy usage is minimal.
Connor, you drew my name in the Crypto Bears are Charging video, but threw it out. I have not won before. Can you review it?
Unexpected scenario tbh.Thise who invested in mining,bought all the equipment etc,I don’t think they are going to quit now...just because the price of electricity has risen. They have a long term plan anyway. Just got a little bit harder. But i assume everything will be forgotten if bitcoin hits 20k again. Nice vlog @investing and fingers crossed for green days..
We won't achieve true freedom unless we are granted access to free energy. Cryptos and the blockchain technology in general are great steps towards a free world, however we won't be freed from the global dictators' system as long as we rely on fossil fuels.
hahahaha its hard time for all crytpo minners and holders but i think maybe the the stop minning will increase price of crypto if there will not increase the supply
the decreasing price of cryptos is also bad but i have not worried on it and also i got many profit from my all cryptos and still have 4x profit only from btc now this time
the all bad news are coming from every corner of world about cypto and also the steem website getting down again and again seems like with you to transfering steem to alafa
other side the btc minning is spending too much electricity than some small towns, so i think they got a good step for city to ban it because the btc minning have effecting on all other crypto minnings there for every society feel fear to providing electircity for minnings to all cryptos