1. Cryptocurrency and Bitcoin
  2. Cryptocurrency News
  3. Bitcoin difficulty + 16%: undermining and earn it became impossible. What alternatives?

Bitcoin difficulty + 16%: undermining and earn it became impossible. What alternatives?

After recently was added to the difficulty, the Bitcoin difficulty has risen by 16%. Drastically reduced the earnings of miners. Here are the alternatives.


Credits: pixabay.com

The miners of Bitcoin have noticed that from 22 January 2017, the daily amount of mined Bitcoin dropped substantially. The Bitcoin difficulty has increased by 16.64% in 12 days (ie from January 10) and will not get better with the next adjustment, estimated at +15.37%. In practice, in the space of a month, the ability to undermine Bitcoin will be reduced by 32.01%. Investments in hashpower SHA-256, of those who have bet on the Bitcoin only in recent months, will go "down the drain" (sorry, but it is really). And in general we all lose a little (Source: https://bitcoinwisdom.com/bitcoin/difficulty).

Why the Bitcoin difficulty is at +16%?

Bitcoin in recent months has successfully attempted the climb to 1,000 dollars, exceeding them and touching a record high of 1,159 dollars. After crashing below 800 dollars, then increased: 1BTC now worth about 890 dollars (Source: poloniex.com).

Probably just the high value of crypto currency has prompted new miners to join the Bitcoin network, making thus increase the difficulty, reached 2,812,940,600 GH/s (previous survey 2,411,623,656 GH/s). Prejudice the case, it should be added additional powers to obtain revenues. But is a dog chasing its tail, because more hashpower you add to the network, the more the difficulty increases and less there will be to undermine. Difficulty here is that the Bitcoin is at +16% in 12 days.

What to do? What are the alternatives?

The first step is not to invest any more money in the purchase of hashpower Bitcoin. The miners who have large amounts of hashpower SHA-256, could evaluate hijack a part of other currencies using the SHA-256 algorithm. Who bought SHA-256 in cloud mining will soon do so necessarily. If you want to have in the portfolio amount of Bitcoin, rather than undermining (bad investment), waiting for the value to fall a bit, better buy them.

Those who intend to become miners or want to make further investments to undermine crypto currencies, the move will agree on other algorithms: X11 (Dashcoin), scrypt (litecoin), Equihash (Zcash).

How undermine Dashcoin, Zcash, litecoin

Mining Zcash

As for Zcash the solution is to buy graphics cards and undermine the crypto currency through the mining pool or on your own. Even Hashflare ended his willingness to hashpower Zcash, currently undermine with mining cloud is not possible.

Mining Dashcoin

The possibilities of mining Dashcoin are two: buy ASIC miner X11, buy hashpower at a mining cloud.

As regards the ASIC miner X11, according to personal investment forecasts, on this page of the site there are some models.

The alternative is to buy hashpower X11 on mining cloud. Hashflare sells 1MH/s to 3.20 dollars, making it cheaper than Genesis Mining (6 USD/MH to 4.5 USD/MH).

Mining Litecoin

In recent weeks litecoin got a lot of attention for the new version of the Core litecoin that improved security and network speed. Recent ASIC miner litecoin of Innosilicon A4 Dominator drastically reduced electricity consumption in 1,4Watt/MH.

That there is a growing interest in the litecoin demonstrated by the fact that Genesis Mining (mining cloud company), recently installed hardware scrypt, making available large amounts of hashpower litecoin for miners interested. In this case the use of 6BEuQe promo code you should to achieve the 3% discount at time of purchase.


Recent Articles

⟩⟩ Genesis Mining Stock Return Bitcoin SHA256 Services    ⟩⟩ AirDrips Bitcoin Cash Faucet: how it works and reviews    ⟩⟩ Gate.io exchange reviews and opinions: it's reliable?    ⟩⟩ Market.space: decentralized Data Storage Platform    ⟩⟩ Exenium ITO. What is, and how ITO XNT works