Mining is losing popularity among private participants in the bitcoin network

  • And
  • +A

The cryptocurrency market capitalization is 208 billion dollars, having decreased for a day for $2 billion. Bitcoin is trading at $6477 (-0,43%), Ethereum is at $201 (of -1.29%), Ripple (XRP) at $0,4553 (-1,49%).
A long lull in the market and falling prices of Bitcoin are known to have a negative impact on the profitability of mining. Interest in business continues to decline. About the fall of the level of sales stated by the representatives of AMD company.
Company Advanced Micro Devices, Inc. (AMD) produces integrated electronics and chip is one of the largest manufacturers of Central and graphics processors and chipsets for motherboards.
According to AMD, AMD’s total revenue from sales of all types of graphics processors declined by 14% compared with the second quarter, but rose 12% compared with the 2017 year.
AMD representatives said that the share of revenue from the sale of popular among the miners of the cards in percentage is in the single number.
The decline in interest in mining devices was expected, and no surprise, the staff of AMD predicted this trend back in April 2018. The company expects continued reduction in interest of buyers to the GPU device for the production of digital money.
In addition to the drop cryptocurrency market on the decline in the popularity of graphics cards from AMD also influenced by the fact that professional miners prefer ASIC miners from the company Bitmain.
According to Blockchain info, the total revenue of miners is $9,825,381.32 that is only slightly above levels of the same period last year and significantly lower than the maximum values at $53 million, observed in the era of “hype” in mid-December 2017.
The main income of miners is obtained by the extracted blocks, and only 1.1% on the commissions earned per transaction. The cost per transaction is now $38.96.
Also difficult times for miners promises permanent growth in the complexity of production, it has already affected hestate, which fell more than 10%. Now the total computing power is 42,847,383,028 GH/s.
______________
Olga Prokhorova,
Expert
“International Financial Center”