One of the most ingenious ideas in the Bitcoin network is the difficulty adjustment, that guarantees the average block production time remains close to 10 minutes.
This past Tuesday, a phenomenal event happened to Bitcoin and the best part about it is that you can personally take advantage of it! In fact, two days ago, Bitcoin’s mining difficulty suddenly dropped by -16.05%! This drop in difficulty is the most significant percentage drop in 9 years out of Bitcoin’s 11 years of existence.
This sudden drop was accompanied by a sudden rise of +11.88% in transaction fees per block. Moreover, Bitcoin’s price has been witnessing an insane rally as of lately, and finished the month October with its second highest monthly close carried by the PayPal news.
All of this puts you in the perfect conditions to begin your mining operations. The decrease in mining difficulty makes Bitcoin a lot easier to mine. The reason behind this difficulty adjustment can most probably be traced back to Chinese miners taking their rigs offline to relocate them.
Philip Salter, Head of Operations at Genesis Mining explains it more in this video:
But what exactly is mining difficulty? Mining difficulty measures the computational power needed to compete for mining BTC. This difficulty is adjusted once every 2,016 blocks, which takes around 2 weeks.
What this means is that this historically low
mining difficulty is temporary and could be gone after 2 weeks! There is an
opportunity to act, but only if you act now.
The current situation sees low mining difficulty
(-16.05% adjustment), high transaction fees per block (+11.88%% increase), a
significant part of China’s miner being offline (i.e. not competing), and
Bitcoin’s recent bullish rally culminating in its all time second highest
monthly close. A similar situation probably won’t occur anytime soon.
Stop waiting. Act now by getting your own S-19 mining machines and join the competitive race of mining Bitcoin.
P.S. As a CryptoTicker reader, you can use the following code once you click th link to enjoy an additional discount of 3%:
qZY7XE
About Genesis Mining
Genesis Mining ist a hashrate provider, operating its own Bitcoin and Ethereum rigs in Iceland mostly. Anyone can rent their hash power. As such, they provide mining as a service. The company was founded by Bavarian entrepreneurs Die Marco Streng and Marco Krohn.
It is super easy to buy Bitcoin. Just take a look at our exchange comparison!
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
You might also like
More from Crypto
How to Pay with Cryptocurrencies?
Cryptocurrencies have been making headlines for more than 3 years now. Despite this notorious fame, there are still people who …
What Is DeFi? – A Beginner’s Guide To 5 Core DeFi Protocols
Decentralized Finance (DeFi) protocols have come a long way from a few scattered vaguely known projects to multi-billion giants. …
Is Polkadot Price Extremely Overvalued or Ethereum Undervalued?
One of the fastest rising cryptocurrencies in the market, perhaps the fastest, has been Polkadot which reached a $15 billion …
