Bit coin digging difficulty hit a record second decline on December 3 (local time). According to BitCoin.com, bit coin mining difficulty is down 15.1%. This is the second-highest drop since November 1, 2011.
Bit coin mining difficulty changes every two weeks to maintain block generation once every 10 minutes. This is the second time that the difficulty level of digging has been adjusted after the declining price of the currency since the middle of November. Difficulty level refers to the degree of difficulty of building a block, but when the dredging company participated in it, the difficulty level of dredging went up. However, due to the bitcoin price collapse, the number of mining companies has been falling below the breakeven point, and mining companies have closed the door because profit did not come out. As a result, the difficulty of mining has been reduced.
#Bitcoin just had its second largest drop in mining difficulty in history: -15.1%. This is the current ranking:
– Fernando Ulrich (@fernandoulrich) December 3, 2018
Last September, the bitcoin break-even point is between $ 3,891 and $ 11,581, depending on the performance of the mining equipment owned by the company. But the current bit coin price is $ 3,800. No matter how advanced mining equipment is used, it is almost the same as the break-even point. In November, bitcoin prices fell to $ 4,300, and some reports showed that Chinese miners were selling mining equipment. The miners say they have approached the closing price and will sell mining equipment to the market.
Most updated footage – After BTC crashed blow $ 4000 … miners in China are selling S7 for 5CNY per pound ??? pic.twitter.com/nV2Nk8lsLw
– Dovey Wan ? (@DoveyWan) November 25, 2018
As a result of the closure of small-scale mining companies, it is observed that the integration of mining companies is proceeding in the industry. At least 100,000 miners have closed down since September, and a few large miners left behind can catch up. In addition, there is a concern that the possibility of illegal transaction approval will increase with the so-called 51% attack. For more information, please click here .