What will happen to Bitcoin mining in the near future?

Researchers TokenInsight warn about the dubious prospects of the mining of cryptocurrencies. Recently, analysts published a report in which I speculate about the rapid growth of computing power of the network Bitcoin, the price forecasts cryptocurrencies and the future work of the special mining centers. And although at first glance all Bitcoin like a good idea, but the industry is already gathering clouds.

What’s the problem?

The company admits that in the future the cost of Bitcoin will rise. Already in 2020, the price of the home cryptocurrency will be in the range from 17 to 23 077 $ 276. Thus among manufacturers of ASIC miners repeatedly tougher competition, they will continue to produce more powerful and efficient equipment for bitcoin mining.

The trend in the increase Hasrat network cryptocurrency, too, will remain to the end of 2019 it will grow by 48 percent. The difficulty of mining will grow by at least 38 percent, as the increase in computing power of the network directly leads to the growth of this metric. Accordingly, ASIC manufacturers will be forced to release new models to mining for customers was profitable.

According to experts, the best ASIC miner of the second quarter of 2019 was T3-43T from Innosilicon. At a price of $ 1,500 Hasrat asika reaches 43 teruhisa per second. Investment in one piece of equipment at the time of the appearance model on the market would 242 percent of percent profit per year.

By the way, regarding the old ASIC miners that have recently had to go to the dump, even in the ranks. Moreover, the demand for devices for bitcoin mining is so great that manufacturers can not meet it fully. Some buyers Antminer S17, Ebang Ebit E11+ and Innosilicon’s T3-43T is still not received their parcel.

Recommend on the topic: Mine Bitcoin today is advantageous even on older hardware, but this is a minus.

Noose around the neck of an ordinary miner slow is delayed not only because of the increasing complexity. In industry, cryptocurrencies are increasingly turning to the benefits of the algorithm Proof-of-Stake, which does not need to maintain a huge number of noisy machines. Go to a new mechanism of consensus plans and Ethereum — the largest altcon in our rating of coins. According to the head of the pool BTC.com Juana Jun, even big miners can little to counter the trend, the traditional mining pools are not so many benefits.

Image source — eCrypto

The author of the report TokenInsight Daniel Keane in addition has concerns about the impact of mining on the environment. The expert noted that almost 65 percent Hasrat Bitcoin is concentrated in only a few pools whose resources are to China. But China, as you know, relies on cheap electricity generated by thermal power plants. Annual carbon dioxide emissions only from mining BTC in the Earth’s atmosphere can be compared with the pollution of the whole of Denmark for the same period.

Happened recently: the Chinese miners forced to suspend production of Bitcoin. What is the reason?

The founder of Renren Mines Andy Won’t consider it a problem.

Mining cryptocurrency is a kind of protective layer for the blockchain. Used electricity practical and useful. It’s definitely not a waste of resources.

Conclusion: the current growth of computing power of all miners BTC raises concerns. Experts argue that cryptocurrency rate always follows hasraton, but until that happens. But do not forget that if mining cryptocurrencies because of the large number of ASIC of the network becomes unprofitable, miners will disconnect from her. Then the network will correct the difficulty and will bring the remaining equipment owners more. That is, Bitcoin is still alone holds the balance of power — as well as other cryptocurrencies.

And what are you more worried about the growth Hasrat network of Bitcoin or imposing the costs of electricity? Share your thoughts in our cryptodata millionaires. We also invite mine cryptocurrency mining pool 2Miners!

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