The fight for better bitcoins

Although Bitcoin mining difficulty decreased 15 percent last week, some mining intermediaries are upgrading in view of the approaching halving. The cards under the mining pools could be reshuffled.The Bitcoin network depends on the miners. Because the “prospectors” of digital gold ensure that everything is done correctly – in compliance with the proof-of-work mechanism, they add new blocks to the blockchain and irrevocably chisel the information in these blocks. For this, they receive a reward of currently 12.5 BTC per block, in addition to transaction fees from Bitcoin users.

 

The foundation started to crumble

But this foundation has started to crumble in the past few weeks. With the collapse of the Bitcoin price, it was no longer profitable for some miners to mine new Bitcoin. As a result, some miners removed their devices from the network. In addition, more BTC were sold than came on the market, and the Bitcoin Mining Difficulty was reduced by over 15 percent as a result. However, there is no need to worry. On the one hand, the network remains stable despite the loss of some participants, and the market was able to intercept sales. In return, existing players strengthen their positions.