Bitcoin Mining Industry Remains on Strong Footing

When the crypto winter struck the market in 2018, analysts predicted that crypto mining would also see a downturn. Some miners did hang their boots in the aftermath of the Bitcoin crash. However, one year down the line, Bitcoin mining is growing stronger than ever

Bitcoin mining- the industry most ignore

Bitcoin mining is becoming more profitable, thanks to the recent rise in prices and the rise of Bitcoin mining pools. In the early days of the coin, mining could be done by an individual using their CPU, but now, large Bitcoin mining pools are using advanced ASICs designed for mining to maximize profits. Back in December 2009, Satoshi Nakamoto commented that he would want the community members to stop the GPU arms race and said, “It’s nice how anyone with just a CPU can compete fairly equally right now.” Fast forward 10 years and the Bitcoin hashrate is now dominated by large mining pools.

Currently, the biggest chunk of Bitcoin mining is attributed to BTC.com, which controls over 20.1% of the mining power. F2Pool controls 14% hashrate, Antpool controls 11.1% and Poolin controls 10.9%. SlushPool is another dominant pool with 8.7% hashrate with ViaBTC, BTC.TOP, BitFury, etc. contributing the rest.

In the case of Bitcoin Cash, the hashrate is distributed much less evenly with BTC.com dominating 26.7%, Pooling and AntPool controlling 8.5% each and Bitcoin.com controlling 6.6%.

How do miners stay profitable?

In December 2018, after Bitcoin prices suffered constant downturns, only five mining rigs were profitable. The reason behind their success could be lower electricity costs (the biggest expense for miners), at 13 cents per kWh. As of August 2019, over 40 mining devices were profitable at the same electricity prices. The top performer was Microbt Whatsminer, followed by three models by the largest Bitcoin mining company Bitmain. The Whatsminer is profiting by $10.49, and Bitmain’s three new Antminer S17 series miners can easily go to $9 per day.

However, Bitmain still remains the top mining firm followed by Canaan, Ebang, Innosilicon, Strongu, and Microbt. Bitmain is now considering a public listing on a US stock exchange owing to the massive profits that its business generates. Thanks to mining, the semiconductor industry is also getting a heads up. The International Technology Roadmap for Semiconductors and the 7 nanometers (7nm) node design is now a reality. Taiwan Semiconductor Manufacturing Company (TSMC) recently received an order for 30,000 7nm chipsets from Bitmain which further confirms that Bitcoin mining isn’t slowing anytime soon.

Viraj Shah by Viraj Shah August 12, 2019

David

BTC/USD fails to extend bounce from 11,100/115 rest-area

BTC/USD remains below 1-month old resistance-line.
11,100/115 offers immediate support ahead of 21-DMA level around 10,650.

Despite bouncing off three-week-old horizontal-support, the BTC/USD pair fails to clear near-term trend-line resistance as it makes the rounds to 11,425 during early Monday.

The leading crypto pair has been under pressure recently as price rally in other altcoins joins speculations of increased Bitcoin mining. Adding to the market fears is the on-going US-China trade war and the global ire against Facebook’s Libra that has weighed on the cryptocurrencies alike.

Though, not all market participants have the same view as far as the negative impact of the trade war is concerned. Nigel Green, Chief Executive and Founder of deVere Group, says that the devaluation of China’s currency, currently rattling global financial markets, shows that Bitcoin is now becoming a safe haven asset.

Further to note is the Cointelegraph news that quotes People’s Bank of China (PBoC) Deputy Director Mu Changchun while saying that a prototype that adopts blockchain architecture has been successfully developed after five years of research.

Technical Analysis

The quote needs to overcome a month-old falling trend-line, at 12,170 now, in order to aim for month’s high near 12,345 and July month top close to 13,200. On the downside break of 14,100, 21-day moving average (DMA) near 10,650 can lure sellers.

Anil Panchal

FXStreet

David

Bitcoin Price Drops on the Day as Altcoins Send Mixed Messages

Saturday, Aug. 10 — the top 20 cryptocurrencies are reporting largely reddish movement on the day, as Bitcoin (BTC) price saw a sudden dip earlier today.

Bitcoin’s price is currently down 4.62% on the day, trading at around $11,370 at press time, according to Coin360 after slipping from around $11,800 to $11,400 in a matter of minutes between 7:30 AM and 7:45 AM Coordinated Universal Time. Looking at its weekly chart, BTC is up by about 5.5%.

Bitcoin 7-day price chart. Source: Coin360

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $21.9 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $12.45 billion at press time.

Coin360 data shows that ETH has seen itEther 7-day price chart. Source: Coin360

XRP is down by 2.18% over the last 24 hours and is currently trading at around $0.296. On the week, the coin is down by roughly 5.62% as of press time.s value decrease by about 2.63% over the last 24 hours. At press time, ETH is trading at around $206. On the week, the coin has dropped about 6.82% of its value.

Among the top 20 cryptocurrencies, Cardano (ADA) and Chainlink (LINK) are reporting the most notable gains on the day, at 10.46% and 5.46%, respectively.

While Tezos (XTZ) experienced a price surge earlier this week following Coinbase’s announcement of support for the coin, XTZ is down by just over 5% on the day as of press time, the largest loss among top 20 cryptocurrencies.

The current total market capitalization of all cryptocurrencies stands at $294.2 billion, about 1.2% higher than reported a week ago.

By Kollen Post

David

Bitcoin Price Analysis 8/10/2019

Bitcoin’s recent sideways action has given us some time to reflect upon the movements of the past few days and project where we might go from here. What we’re seeing on a macro scale is a continuation of the positive trend that we have been seeing for Bitcoin all year. Bitcoin was able to close a few different daily candles above our drawn resistance, as you can see below:

On this daily chart, we can see that Bitcoin appears to have been forming a bull flag to continue its upward trend. At this moment in time, we would project that Bitcoin rides the support that it has currently established above the upper resistance of the bull flag while altcoins recover from brutal stretches.

While Bitcoin has been enjoying relative success over the past few months, altcoins have not been experiencing the same thing at all. This week many altcoins marched once again to new all-time lows and the altcoin market as a whole remains very unhealthy. Luckily, we think that Bitcoin’s progress and subsequent sideways movement provides for the perfect opportunity for many altcoins to gain some ground back and restore some of their former value.

At the moment, all eyes are on altcoins. But if BTC beings to move again, we’ll be looking for it to hold that support in the top line of the bull flag that we depict above.

August 10, 2019 Caleb Lombardo

David

Writing well – What is the secret?

What is the secret to writing well?

I think it is really one word, practice, practice, practice.

You can have a vast vocabulary. You can have near perfect command of your prose, perfect grammar, and syntax, but if you don't write often, you will not develop into a good writer.

That is one reason why blogging is such a great activity.

Content creation for a blog is simple. You can write about whatever you like. You can be serious, ironic, whimsical, humorous, or anything that suits your mood or personality. As long as you write and are true to yourself, there is someone out there who will take interest. Having stated this, there are a few things you should pay close attention to when you write that will save you either headaches or embarrasment.

1) Write sincerely. Do not pretend to be someone you are not. It is amzaing how quickly a phony writer can be spotted.

2) Use a grammar checker. I prefer Grammarly. It checks not only grammar but other writing faux pas as well, such as overuse of commas, (my personal weakness), syntax, spelling, wordiness, style, punctuation, and even plagiarism.

3) Remember most writing mistakes are due to carelessness, so don't be offended by grammar checkers, they are there to help you express yourself more effectively and keep you from looking foolish due to careless mistakes.

4) Take a break from writing and come back later to review what you have written. It is surprising how a fresh look can make a big difference in how you write. Remember there are many ways to express the same thought. You are just looking for the most effective way to accomplish this.

5) Don't try to impress with big words. Use vocabulary that you understand well that falls within your comfort zone. (Notice I did not say vocabulary you are comfortable with. – so I did not end the sentence with a proposition).

6) Use synonyms. Try not to repeat the same word twice. Google is always available to help you with this.

7) If you are writing professionally, or for clients, you may want to hire a writing coach to review your work. This can be a great learning experience. I recommend editors at https://www.editorr.com/ The price is not the cheapest out there, but the quality of their editorial work is outstanding. If you want to hire a writer, I recommend https://www.textbroker.com/

Remember that anyone can write, but it takes a great deal of practice and some effort to write well.

Best of success in all your endeavors.

John Lombaerde

David

How easy is it to make friends here in Markethive?

Fact or fiction, most members in Markethive do not post to the newsfeed? I think we can agree that most members join Markethive and aside from loading a picture and adding brief information to their profile page, may rarely if ever post to the Newsfeed.

What does this mean for the Marekthive members who are active? It means when an announcement appears in the Newsfeed, it may be your one unique chance to request a friend from that person, and you may not get another chance.

Of course, you get paid a small amount of Markethive coin for each friend that you invite. You need to login to Markethive every day in order to make friends on a regular basis. This activity alone will probably keep you at least as a DO BEE. If you add commenting on a regular basis, you my easily achive the level of WORKER BEE. If you write posts on a regular basis, you may achieve the BUSINESS BEE level. Depending on the frequency of all of these activities you may actually propel yourself into the ROYAL BEE catagory where there will likely be some substantial rewards.

I know well the value of the size of any social network. With effort over a 3 year period, I have managed to accumulate over 13,000 1st level connections on LinkedIn. Most of the members I have brought to Markethive have come from my LinkedIn connections. These new members in Markethive has brought me several hundred thousand Markethive coins. Remember, every new member you bring into Markethive rewards you with 500 Markethive coins as an entrepreneur.

I am not very active on LinkedIn anymore. My activities have taken me in another direction, but I am still gaining 1st level connections on a daily basis due to the size of my LinkedIn netowork alone. I state the number of connections I have on my profile title, and many people want to connect to me for that reason. My LinkedIn network is expanding now on it's own. I only have to accept connection requests with a click of the mouse on a weekly basis which only takes minutes.

LinkedIn limits the size of your network to 30,000 1st level connections, so I am less than halfway to maxing out my number of connections on LinkedIn.

Facebook limits you to 5,000 friends. I am close to that limit now.

Twitter limits your followers depending on number of people who follow you. There is a certain ratio there. I do not know exactly what that ratio is.

Instagram will not allow any account to follow more than 7500 users. Once you reach that limit, you will not be able to follow anyone else.

Tumblr will not let you follow more than 5,000 blogs. After that you will have to delete a blog if you want to follow another.

Most social networks impose restrictions on the number of people you can connect with. I do not understand this at all.

How about Markethive? There are no system restrictions to the number of friends or associates you can have. That fact alone should be enough to make you want to participate here in Markethive

This is one more example of how Markethive is the social network for entrepreneurs.

I hope this fact inspires you to be active here on Markethive. Remember, in addition, Markethive is the only social network that pays you for every one of your efforts on the network. In time, these small accumulated efforts alone will be worth a small fortune.

Best of success to you in all your endeavors!

John Lombaerde

Founding member of Markethive

http://markethive.com/jonlomb/page/jonlomb

David