Hash rate bitcoin for the first time in the last three years showed rapid and steady decline, which amounted to over 40% in peaks, with 62 Ah to 35 Ah/C. the second consecutive recalculation of complexity may be more than -7%, and actually began falling in early October, given the fact that the increase in complexity in terms of 1 November amounted to a paltry 0.02%.
The last time this occurred in 2015 since then the figure has steadily grown despite the downward trend in cryptocurrency market, which lasts for almost the entire 2018. The causes of the collapse can see, obviously, are the breakdown of a bitcoin down the key level of$ 5,000 and the flow of the Chinese capacity to fight of Bitcoin Cash.
In the cryptocurrency community is gaining popularity video, in which China ASIC miners are released EN masse into the street. Some have suggested that this video earlier periods, however, the co-founder of the largest pool F2Pool stated that even if so, the situation is not much better.
“After the recent collapse of quotations on the cryptocurrency market, our customers have turned off tens of thousands of devices for mining,” said he, referring to the price drop on 14 and 19 November.
Also in the network spread picture where miners are allegedly sold in bulk. The reason for this method of sale is that they are impossible to sell on the secondary market as equipment.
Many people know that some Chinese regions, including Sichuan, attracted miners with cheap electricity, but because of the drought this year the cost of electricity has increased. If to this fact add the recent significant reduction in the price of bitcoin, it becomes obvious that the profitability of mining has decreased significantly, and older devices finally become unprofitable.
Also recently became aware of the bankruptcy of the American mining company Giga Watt, which still owes creditors millions of dollars.
Thus, we can conclude that history repeats itself in 2015 when the price of bitcoin for a long time decreased and the miners suffered losses, and some of them reached bankruptcy. Continuing the work of miners is concerned, in fact, only one question repeated in history and will return the cryptocurrency market to growth?