Bitcoin news for today. Bitcoin mining will be more attractive from an economic point of view. The demands on the computing power of miners have decreased significantly. The widespread exodus of minerals is slightly less dangerous after the recent halving. They would fundamentally affect the functioning of bitcoin. Also, they could spin the so-called death spiral.
The most common cryptocurrency was in a paradoxical situation after halving. The event itself represents the most significant impetus for a possible increase in the value of bitcoin in recent years. In the short term, according to some apocalyptic voices, it threatened to spin an unfortunate spiral.
What’s up? If miners do not pay to keep the bitcoin network running after cutting off their rewards and shut down their machines, there is a risk of reducing its security and exposing them to a higher risk of hacker attacks. Confirmation of some transactions may also be delayed, and payment fees may increase significantly, as the Bitcoin news today shows.
If more minerals decide to disconnect, the cryptocurrency algorithm will respond by merely reducing the demands on its mining. Miners will not have to “burn” so much electricity, which will increase their business profitability. And that’s precisely what happened. On Thursday, the intensity of mining was further adjusted. In the regular two-week interval, claims fell by 9%.
This was the second drop in a row, just after halving, they decreased by 6%. This is the second-largest decline this year and the eighth sharpest in the eleven-year history of bitcoin so far, said CoinDesk server editor Zack Voell.
However, the adjustment of the conditions contributed to the fact that miners are gradually returning to bitcoin mining. The total computing power they provide for the smooth running of bitcoin payments and their cybersecurity has increased by about a quarter shortly after halving, according to statistics from the Bitinfocharts portal.
This came to the words of the Kazakh miner of “digital gold” Denis Rusinovich, which he uttered about three weeks ago.
If Bitcoin continues to be in the $9,000 to $10,000 price range, the computing power of the network could recover by June. In the event of a drop in the digital currency exchange rate to $7,000, the mining business would face a much more severe shock.