Re: Will Crypto Mining Become Obsolete? - Recent Reports Show Its Decline
Will Crypto Mining Become Obsolete?
News reports have come out stating that crypto mining is phasing out and graphics card sales are proving that to be true.
News reports have come out stating that crypto mining is phasing out and graphics card sales are proving that to be true.
That could be #fakenews.
Reports indicate bitcoin's collective hash rate is up "155%" since january 2018.
Quote
Despite Bitcoins 2018 price slump, the dominant cryptocurrencys hash rate continues to surge at an astonishing pace. Although the value of Bitcoin has decreased by 53% since January 1st, 2018, the hash rate has increased 155% in the same time period.
The continued growth in hash power demonstrates a strong, continued belief in Bitcoin by miners worldwide and may foreshadow a hidden bullish trend.
https://cryptoslate.com/bitcoin-hash-rate-rapidly-growing-despite-price/
The continued growth in hash power demonstrates a strong, continued belief in Bitcoin by miners worldwide and may foreshadow a hidden bullish trend.
https://cryptoslate.com/bitcoin-hash-rate-rapidly-growing-despite-price/
Crypto based demand for graphics cards are diminishing. It doesn't indicate a decline in crypto hash power. Rather it can be explained by a paradigm shift from GPU mining to ASIC mining.
Stompix was kind enough to post this chart representing bitcoin's hash power in another thread:
As you can see the collective hashpower of BTC is on the rise.