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Author Topic: Bitcoin mining difficulty hits lowest level since March as price tops $57K  (Read 2794 times)

Offline Stompix

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Yes, your words are completely correct and profound. These are fundamental points that must be carefully discussed in the Bitcoin community until we get a solution that is satisfactory to both parties, miners and users together.

Not putting too much hope on this!

The whole thing is pretty simple, the community thinks that if miners don't make enough money they could simply shut down and leave, the same community after the BCH saga thinks that increasing blocksize is wrong. So you're left with a fixed space which you need to rent twice as high every cycle, but the same community does not want to pay that much.
So in this situation, nothing will change!

The only solution would be a massive increase in LN usage that would make users less reluctant to pay on average $50 when opening a channel knowing they can spend enough there at lower fees to compete with other coins. Time will tell how feasible that dream is!

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Offline Husires

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The only solution would be a massive increase in LN usage that would make users less reluctant to pay on average $50 when opening a channel knowing they can spend enough there at lower fees to compete with other coins. Time will tell how feasible that dream is!
The problem of fees makes using Bitcoin as a currency for daily payments a problem, but it will not prevent investors from buying. Even if the fees are high, investors will buy.
Bitcoin Cash increased the block capacity, but the price did not increase, so it did not attract more investors, which made miners lose money even though the block area was 4 times larger.
If the price of Bitcoin fell sharply, the fees would not be high, which is what happens now when the price stabilizes.

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Offline Mate2237

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I don't know how the bitcoin mining progress is for now because the tariff war has affected the mining industries because US has stopped buying the ASIC machine products from China. China produce produces those machines parts and US has stopped buying them and China as also stopped importing from US so the cold war is going on and other countries are suffering for it.
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