Is crypto mining worth it

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Bitcoin, Bitcoin Specie, Bitcoin Gold, Bitcoin Diamond, What Else? Ethereum World News

Bitcoin Civil War

Bitcoin and its community are te a crimson waaks zone for the next two months with high tensions and polarization!

Sharply divided ter two main fractions, overheen how bitcoin should stir forward, with different solutions for improving Bitcoin chain protocol, the politics surrounding bitcoin are getting uglier and uglier day by day.

There is dual trouble with upcoming Bitcoin hard forks, that are technical issues (old blockchain, inefficient, expensive, making trading slow and difficult), and a political fight within Bitcoin community with Chinese (ter better position) and American players battling for dominance overheen Bitcoin.

Perhaps even this exceptionally bullish trend of Bitcoin, the price rocketing near $6000 and with a total market cap harshly $95 Billion, partly wasgoed also the result of the anticipated, very significant events which are the two next Bitcoin hard forks which set of the latest speculative madness. At least some of the price rise is likely the anticipation of “free money” te ways of accruing the free split tokens te the upcoming two hard forks!

DEJA VU

Most of the members ter the Bitcoin community agree about the need to update the old blockchain from 1MB block size to rise at 2MB like a solution to solve the Bitcoins punt of scalability. Spil wij all are experiencing the bottlenecks ter Bitcoin daily usage with continuous growing number of transactions, therefore causing longer confirmation times and higher fees for users. So the need for upgrade by introducing a major switch is undisputable, but the controversy remain of how and when.

There is a very interesting idea behind the Bitcoin Gold, spil there is a fraction including some of the Bitcoin core developers that think Bitcoin wasgoed created to be immutable and the main purpose of creation of the Bitcoin spil a decentralized currency wasgoed to give the masses the power to control and manage their own money and through their own huis computers. And this is exactly behind Bitcoin Gold the idea of re-empowering the average person ter Bitcoin mining, thus achieving true decentralization. Seeks to remedy this by employing a fresh proof-of-work mining algorithm which will again enable people to mine bitcoin gold coins on their huis computers.

Two upcoming controversial bitcoin hard forks to occur are:

Bitcoin Gold, expected hard fork to occur on October 25

Segwit2x, maybe, Bitcoin Diamond!? Expected on November Legitimate.

Usually spil a by-product of a contentious hard fork is the creation of a fresh coin, ter this case not one but two all fresh coins: Bitcoin Gold and Bitcoin 2x or better yet, Bitcoin Diamond!

There is fairly a possibility that after two months on the cryptocurrency market thesis coins will challenge: Bitcoin, Bitcoin Metselspecie, Bitcoin Gold, Bitcoin Diamond! Deja Vu, what an interesting situation. A very fertile ground for speculators and some plucky traders, but hard on ordinary folks.

It’s very significant to see how many of the miners will support the fresh versions of Bitcoin and how many will stick to the old version. Te reality the end users will ultimately determine ter which direction things will head.

This enhanced block size from 1MB to 2MB wasgoed proposed spil a scalability solution to permit for more transactions to be processed, thereby alleviating the verkeersknelpunt and reducing transaction fees.

But right now, Bitcoin’s network is mostly powered by powerful chinese miners who employ special hardware called ASICs to mine fresh bitcoins. So they have greater influence overheen the Bitcoin’s network. However, Segwit2x volgers point to the fact that about 90% of miners are signalling approval for a protocol upgrade through the hard fork.

Wij could see brief term volatility te Bitcoin te the next several months, but the long-term view is very optimistic. The future of currency is digital there is no doubt.

True Bitcoin value is just like the diamond, scarce, with few colors, but unluckily you cannot make jewellery and wear it.

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