How Do Seasonal Fluctuations Really Affect Bitcoin Mining?
There has been much ado made recently over supposed seasonal mining fluctuations on the Bitcoin network. The narrative goes that, as the rainy season in China comes to a halt around the August to October timeframe each year, cheap and abundant hydroelectricity dries up. This forces many inefficient late-model miners to shut off or move elsewhere to find more affordable, accessible energy — creating migratory or nomadic miners, if you will. The narrative also claims that the network sees a significant drop in hash rate and difficulty at yearly intervals roughly matching this....
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The recently reintroduced seasonal ban on cryptocurrency mining has provoked backlash from the local crypto community. This week, the country’s power distribution company ordered miners to suspend activities citing electricity shortages during the hot summer months.
Restrictions on Crypto Mining Are Ousting Iran From Global Coin Minting Industry, Critics Say
After last year crypto miners were forced to deal with interruptions in power supply on more than one occasion, the Iran Power Generation, Transmission and Distribution Company (Tavanir) has told them to halt....
A day to block reward halving, Hashflare has become one of the first Bitcoin mining companies to inform their miners that the proposed reduction in the mining reward will affect their payout, though it didn’t say by how much. In a message to its miners via email, Hashflare says: “We would like to remind you that this weekend Bitcoin mining reward will be reduced by 50%. This process, namely halving, is a part of Bitcoin system script and occurs every 210 000 blocks. The last halving was 4 years ago and the block reward went down to 25 BTC from 50 BTC. “The halving will occur on Saturday,....
Have you ever wondered if the price of bitcoins affects bitcoin business? Could this be a reason for businesses not to accept a volatile currency? Do sales plunge when the price drops? I started doing a little investigating into whether it does or it doesn't, and I was somewhat surprised by the answer. Transaction volumes have stayed in the $50 million dollar range over the summer for the most. However, it is hard to tell if the transaction volumes are just people moving bitcoins from one wallet to another or if those transactions represent the exchange of goods or services. Some....
The Proposed Bitcoin Regulation "BitLicense" Could Shut Down Mining And Bitcoin Businesses In The US
NYS Bitcoin Regulation Proposal Could Shut Down Mining And Bitcoin Businesses In The US. The proposal for regulating Bitcoin and other cryptocurrencies called BitLicense could have far-reaching and chilling effects. Not only does the licensing issues affect businesses and invade citizens privacy with overly big brother type burdensome identifications of users, it will also likely shut down Bitcoin and cryptocurrency mining in the US. One of the most respected and best Bitcoin Mining Pools is BTC Guild. It is run by Eleutrhria who hosts the pool in Nevada. They have a shutdown plan in place....
Bitcoin mining could be a proper asset to solve one of the significant issues in the Ukrainian energy sector: spending. A financial expert praised the recent push given by Ukraine’s government to nuclear-powered crypto mining across the nation. Crypto Mining Can ‘Smooth out’ Fluctuations in Consumption, Says Expert During an interview with Inshe, Alexei Mushak, an economic advisor to the former Prime Minister Oleksiy Honcharuk, Ukraine needs bitcoin (BTC) miners, but most importantly, to take advantage of the nuclear power plants that favor smooth operations while helping....