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What is Bitcoin Mining Computing Power (Bitcoin Mining Computing Power Calculation)

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What is Bitcoin Mining Computing Power? In the traditional financial sector, mi

What is Bitcoin Mining Computing Power (Bitcoin Mining Computing Power Calculation)

What is Bitcoin Mining Computing Power? In the traditional financial sector, mining and extraction are relatively complex tasks. If mining is viewed as an investment method, it means that more funds need to be invested to achieve greater returns. However, due to the large fluctuations in the price of Bitcoin, ordinary people find it difficult to calculate the reasonable value of digital currency to hedge against inflation risks and reduce losses, and these factors are precisely what affects the price changes of Bitcoin.

For many investors, Bitcoin is one of the main components of their assets, and its price has a higher advantage compared to other cryptocurrencies. However, in the long run, as time goes on, the mining difficulty will become increasingly difficult, which has also caused confusion for many investors. What are the problems with Bitcoin mining algorithm? It mainly includes: how to ensure the security and reliability of Bitcoin transactions; whether the operation and maintenance of mining machines are safe; whether miners need to maintain their own hardware; which devices can guarantee stable network operation.

Bitcoin Mining Computing Power Calculation

Editor’s note: This article is from Caiyun Blockchain (ID: cybtc_com), authorized by Odaily Star Daily for reprint.

With the continuous rise in the price of Bitcoin, mining computing power is also gradually increasing. According to data from BTC.TOP, the current hash rate per T is 109.8 exahashes, which is equivalent to 5 BCH rewards per block. Among the mainstream coins, the difficulty of the entire BTC network is about 15.78T; the difficulty of the entire ETH network is about 16.38EH/s. According to the current average block time of the Bitcoin network, it is estimated to be about 4H+ or so. But we know that mining costs are not high because you need to pay for electricity to mine. Therefore, we believe this is relatively expensive for ordinary people. (Note: According to CoinGecko data, the latest data on the global computing power of Bitcoin is 124.6K)

From the chart below:

In the past year, the trading volume of the entire market has been steadily increasing. Although there have been fluctuations and retractions in the market recently, this trend has not changed. If the future market turns bullish, miners will be more willing to invest more resources to maintain their business operations. For example, in August this year, Bitmain launched high-performance models such as Antminer S17Pro and Shenma M20 series. And recently, there has been news about the launch of Ethereum 2.0 test version. Another point worth noting is that a recent topic discussed in the Bitcoin community is “Why is Bitcoin so hot now”, which means that people have increasing expectations for Bitcoin. In fact, this is the development history of Bitcoin. At that time, the price of Bitcoin reached more than $10,000, and by early September, it had already exceeded $10,000. Today, the price of Bitcoin has also risen to over $20,000.

However, just recently, it was rumored in the market that the price of Bitcoin would plummet until it reached its peak around March before returning to normal. In fact, many retail investors are still unwilling to miss the profits from this decline. In fact, in late June 2019, after the price of Bitcoin broke through the $20,000 mark, it quickly plummeted and rebounded. However, the good times didn’t last long. Within 7 days after a brief adjustment, another sharp rise occurred, and many analysts believe that the price of Bitcoin may soon return to below $20,000.

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