Data from statistical resources Blockchain and Bitcoin Wisdom confirm that the most recent adjustment to the complexity of the Bitcoin network has grown by 10%, for the first time in several months.
“ Difficulty ” means the total network capacity (hashrate of all equipment of a mining BTC), it depends on the ease with which miners can solve equations for checking the transaction block and getting a reward for a block in the bitcoin blockchain (now it is 12.5 BTC).
Since July, there have been several downward adjustments, the price of Bitcoin has fallen, and miners needed to reduce their costs in order to continue mining in the network.
Over the past seven years, an unprecedented number of downward adjustments took place in 2018 — in July, October, November, and two in December. Just five.
The most serious change occurred on December 3 – by 15.1%. At that time, the BTC / USD pair of $ 3,738.16 was under strong pressure amid reports that miners are massively withdrawing from the network due to low profitability.
However, the numbers do not confirm the disastrous situation of Bitcoin, businessman Alistair Milne called them “FUD” and published on December 31 in social networks the latest data on hashrate.
Remember the bitcoin mining death spiral FUD? Mining difficulty just adjusted + 10% pic.twitter.com/aAhENjWGFS
– Alistair Milne (@alistairmilne) December 31, 2018
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