Category Archives: Mining

Bitcoin Difficulty Dials Back 1.63%

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In its march to cross 2 trillion Bitcoin network difficulty has decreased by 1.63 percent from 199312067531.24301147 to 196061423939.64996338 during its latest adjustment. The next mining subsidy halving is still on schedule with all of the chaos that entails. Expect anything,1 but it is likely that weaker miners will continue getting squeezed out with only small temporary dips in network hashrate. Weakening fiat markets in China and the fresh constraint on new coin market entry are likely to lead the way at fiat/Bitcoin interfaces with the weaker and more fraudulent fiat/Bitcoin interfaces potentially getting squeezed as well in the manner of Mt Gox. Sorry for your loss.

  1. Due to the likelihood of intensified fraud on the fiat side all manner of short term trends are possible.  ↩

Asia Losing Garment Manufacturing Jobs To Machines

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Numerous reports are emerging that Adidas will be destroying the jobs of numerous workers in Asia who have been manufacturing their footwear for decades. Adidas is following numerous other garment manufacturers in deciding to trade payroll and other assorted costs associated with employing homo sapiens for the comparatively predictable costs associated with financing and maintaining machines. Urban apparel maker Nike is also working on eliminating its workforce in Asia in favor of roboting garment assembly. Mining never changes. Sorry for your loss.

Correction Takes Bitcoin Network Difficulty Down 3.1%

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After an eight month streak of hashrate increases, raising difficulty by a total of 231%, the mining difficulty has dropped to 158,427,203,767.3917 (3.1% below the previous adjustment, placing total network hashrate estimates around 1.2 EH/s). During this adjustment period, unknown actors flooded memory pools with several dozen megabytes of spam. Unlike last time, when the spammers made grand claims from behind meaningless pseudonyms, they have remained anonymous this time around; and unlike previous attacks, which merely contributed to demand for block space, this one caused immediate economic consequences, as disclosed previously. The transaction fee total climbed to 726.63690949 Bitcoins, comprising 1.42% of total miner income.