Bitcoin Mining Difficulty Set To Drop

Largest Bitcoin mining difficulty drop Of 2023 crypto miners are pivoting to AI Neoxa adding masternodes and Restructuring block rewards and finally New releases of both SRB minor and rygel Miner have dropped all of that and more In today's episode of blocks where I Cover cryptocurrency news as quickly as Possible from the perspective of a Cryptocurrency miner let's get into it Foreign [Music] Let's kick things off with a quick price Action update Bitcoin enters the last Full week of July on an uncertain Footing struggling to break through the Thirty thousand dollar resistance level Over the weekend Bitcoin experienced a Classic volatility burst hinting at Potential support around thirty thousand Dollars however this was short-lived and The price retraced to around twenty nine Thousand dollars at this crucial moment Traders are anxiously awaiting a Breakout from the ongoing sideways Movement one of the most significant Macro events this week is the United States Federal reserve's decision on Interest rates the Federal Open Market Committee will meet on July 26th to Discuss whether to raise Benchmark Interest rates which many expected to Happen by a 0.25 percent increase this Decision not only affects the

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Traditional markets but also plays a Vital role in the crypto world now let's Talk about the highlight of the week for Crypto miners the mining difficulty drop According to s estimates from btc.com Bitcoin's mining difficulty is set to Decrease by around four percent at its Next automated Readjustment on July 26th This could be the most substantial drop In 2023 so far the mining difficulty Drop indicates a cooling of competition Among Miners and it's crucial for us to Understand its implications analyzing The hash ribbons metric we can see a new Capitulation phase in the hash rate Growth while this might sound worrisome It's not necessarily A sell signal the Explosive growth in hash rate in the Last seven months is deemed Unsustainable and a Slowdown is a Natural correction we need to manage our Risks until growth resumes the network Value to transaction ratio has hit Four-year highs indicating that bitcoin Price conditions may be overheated However we must consider that nvt spikes Can occur during both bull markets and Unsustainable price bubbles the metric Suggests that bitcoin's Network Valuation might be outstripping the Value being transmitted on its payment Network but experts argue that it Currently remains at normal levels in Some positive news bitcoin's available

Supply continues to shrink demonstrating Enduring conviction among its long-term Holders approximately 55 percent of the Supply has remained dormant for at least Two years and 29 percent for five years Or more this Strong hoddling Behavior Indicates the preferred Market Dynamic Amongst mature investors making it a Silver lining in the overall market Trends now let's address the big Question are crypto miners pivoting to AI the short answer is that most Bitcoin Only miners are not mainly because they Use specialized A6 chips designed solely For mining Bitcoin these chips cannot be Repurposed for AI or other tasks Limiting their flexibility and potential To explore new Ventures however this Story is different for larger mining Operations while their A6 chips cannot Be converted to AI that infrastructure They've built including cooling systems Security and access to cheap energy can Be leveraged to explore new Opportunities some companies are already Making moves in this direction and it's Catching the attention of investors on Wall Street the shift towards AI is not Just a trendy move for these companies It's a strategic decision to reduce Systemic Risk by diversifying their Revenue streams they become less reliant On bitcoin's price fluctuations this Means that if bitcoin price dips they

Can still operate strategically and Maintain a stronger position compared to Their peers one example is Hot 8 which Began its pivot early by investing in Data centers in Cloud regions devoted to High-powered Computing back in 2022 These data centers equipped with Versatile Nvidia gpus can perform a wide Range of workloads including AI machine Learning and gaming this Forward-thinking approach has allowed HUD 8 to combine Mining and AI Services Effectively another interesting case is The the pivot from ethereum mining to AI When ethereum switched from proof of Work to proof of stake the eth mining Equipment became idle however the Nvidia A40 chips used for ethereum mining Proved to be more versatile and are now Being redeployed for AI and other Computationally intensive tasks so how Does this pivot to AI work mining Companies like hot 8 are offering their Computing power and infrastructure to AI Startups and companies that require Extensive processing for training their AI models this approach allows these AI Focused entities to access the required Computing power without having to Purchase scarce chips for themselves the Key takeaway here is diversification the Shift towards AI is not about abandoning Bitcoin mining entirely but creating a Diversified portfolio that can weather

Bear markets having multiple revenue Streams makes these companies more Efficient and adaptable ensuring they Can stay competitive even when Bitcoin Prices experience downturns New York's And masternodes are quickly approaching In the next 4 500 blocks or so this move Has been controversial as it Strays from The original road map by reallocating The block reward distribution in favor Of proof-of-work Miners And masternode Stakers in the original white paper the Roadmap stated proof of game would Account for 60 percent of the block Reward in its final form currently proof Of game is 10 of the block reward with 85 percent going to proof of work Miners And five percent to the development team After the fork adding masternodes the Distribution will be 45 percent to proof Of work miners 45 to masternode stakers A reduction to 5 for proof of game and The remaining five percent to the Development team this is a drastic Difference in the block reward structure Personally I have been of the opinion That proof of game would encounter lots Of issues with licensing in the future If it became popular enough this move Signals to me that nioxa may be shifting Further away from its original intent Let me know what you think in the Comment section below we got some Exciting updates to share with you from

SRB multi minor version 2.3.1 the latest Version brings some significant Improvements and optimizations for your Mining experience so let's dive in and See what's new the SRB minor Multi-version 0.2.3.1 now supports the latest Dynex Solve 2.3.0 with new job types and fp64 Support making it even more efficient And Powerful however there have been Some changes as well firstly support for Intel gpus on algorithm Dynex has been Removed due to lack of fp64 support in These gpus which affects their mining Performance the problem with the Intel GPU specifically is that they only Support emulation of FP 64 and so they Probably will not be that useful on Dynex moving forward secondly support For NVIDIA gpus on algorithm Dynex has Been temporarily removed until July 22 Seventh the team faced some time Constraints but don't worry it will be Back in the next update the SRB minor Multi version 2.3.1 addresses some Issues with dual mining ERG ethereum Classic eth and Shaw 256d T kernels on Certain gpus which were broken since the Previous version 2.2.6 the team worked Hard to fix this problem and ensure Smooth mining operations we've also got Some exciting updates from the latest Version of ride gel 1.6.4 that you don't want to miss the

Team has been hard at work bringing in Some new mining support and addressing a Few bugs to enhance your mining Experience so let's dive into the new Rygel version 1.6.4 the highlight of This update is the addition of the ERG Plus Elysium and ERG Elysium zil dual Mining and triple mining support for Ergo miners this means you can now mine Ergo and Elysium or Ergo Elysium and Silica simultaneously maximizing your Finding potential and earning more Rewards to get started with dual mining Check out the Dual ERG Alf batch file or Script for easy configuration the Rydel Team has also been hard at working on Fixes for some pesky bugs to improve the Overall stability of the miner one of The bugs addressed in this update was Related to iron fish mining to nice hash Previously The Miner would frequently Reconnect during mining causing Disruptions with the new update this Issue has been resolved ensuring Smoother mining to nice hash another bug Fix in rygel 1.6.4 was related to the Miners log files previously if log files Were moved or deleted while the miner Was running it would stop logging Altogether however the team has fixed This ensuring that the miner continues To log data correctly even if the log Files are manipulated that's going to Wrap up today's episode of blocks where

I cover cryptocurrency news as quickly As possible from the perspective of a Cryptocurrency miner I encourage you to Check check out son of a tech.com for my Crypto mining e-course which also Includes a month free of membership at Son of a tech.locals.com where I post my Daily moves and additional information And strategies that I may be Implementing in my own mining operation Thanks for watching and I'll see you Next Tuesday

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