https://bitcoinwisdom.com/bitcoin/difficulty
16% drop expected in roughly 11 days. That’s using the programmed algorithm designed to maintain block mining to an average of 10 minutes. Of which has slowed to more than 13.
But if you have something to disprove the programming, then please share. There are valid reasons for the difficulty change would go up so of you have anything that would disprove my belief, please share.
And on the front of centralisation, I would argue nodes have just as much power as miners. Nodes have in the past blocked blocks doing things that less than 51% support. In reality, we have a decentralised mining with distributed nodes. There are a number of pools that take the opinion of their distributed miners to set their support accordingly.
Bitcoin has better distribution compared to say Bitcoin cash which primarily is mined by one company that has a patent on the algorithm to mine.
Early 2013 would have been a good time to build a bit coin mining rig. I was going to do that. But did not really wanna have to move a ton of stuff and have a huge dedicated area just for bit coin. And not to mention the cooling and power up keep. Not talking about cost. Just surge and fire protection in general. I did not want the headache.
But if you have mineral rights to your own land. And a river just so happens to run along it. Then mine what ever you want.
I’ve been messing with crypto for a couple years now.
Couple things here:
First, the idea that its somehow too late to invest is kind of laughable. My buddy isn’t a techie, and made 7k$ this year on like a 2k$ investment on ethereum. The idea that you can’t make good money is a joke. There are plenty of coins to invest in, I disagree with the statement that all crypto relies on bitcoin. While the underlying technology bases may be the same, the application and use of each can be different in many ways.
Second, do your own research before buying/spending money on anything. You should understand the fundamentals of the crypto you want to get into. While you won’t be able to predict when prices will rise/fall, it will give you a better idea of uses, applications, and surrounding events that will change the price. I remember when specialized hardware for mining started hitting the market, and prices dropped- everyone thought this would devalue bitcoin and it was essentially ‘over’ for bigger investments.
Then, a few years later, we see 10k$ and 20k$ valuations. So, even if someone ‘knows’ they might not know what the future will entail.
I’ve read predictions that value coins hitting as much as 50-100k$ in the next 5-10 years- but I think that is a bit outlandish. I still think, though, that these currencies will definitely increase in value. I myself have made a fair amount of money just sitting on them. For me, I follow the general trends, and pay attention to the news on the subject. Right now its downward but that doesn’t mean it won’t turn around eventually.
Buy XRP/Ripple. They are going to overtake BTC for the simple fact that they have worked with banks from their inception. Way more banks and businesses have adopted XRP than BTC and that is going to drive it’s growth through the roof without the same volitility of BTC.