The price of electricity as the key to success

With a lower price, only those who purchase their electricity at a competitive price level can continue to participate in mining. It is likely that difficulty will fall again or the price will rise, so that all cloud mining users with a cheap power supply can expect an even more positive development. Thus, the mining ecosystem regulates itself. The basis for guaranteeing successful mining in the long term is therefore low electricity prices.

7Cloud Mining AG can supply the cheap electricity, including the corresponding hardware and the necessary infrastructure. However, the crypto currency can only be secured through the participation of the individual participants. In the crypto market, there must be a balanced distribution of computing power worldwide in the long term. The Bitcoin thus secures its own success, its existence and a sustained rise in prices through a fair and transparent distribution of computing power.

Long-term returns instead of speculative Bitcoin revolution

Preparation that is geared to these scenarios in the long term can accordingly lead to a considerable Bitcoin revolution. He continues about the Bitcoin revolution: “Every miner and every cloud mining company is enormously important for the success and existence of Bitcoin. Some crypto mentors and supposed experts, who claim it is wiser to buy Bitcoin than to mine it, have not understood the principle of crypto currencies. It is a selfish and short-term way of thinking which is counterproductive for crypto currencies.

Based on a thorough analysis of the available facts, 7Cloud Mining AG has been able to make a clear positive forecast for 2018. In addition, mining has potentiating advantages, e.g. by timing the right time for buying or selling activities. In this case, cloud mining users benefit from the possibilities offered by their high-performance computers. The motto is to mine as much Bitcoin as possible and ultimately own it, because many experts and 7Cloud Mining AG are convinced that prices will rise in the coming years.

Furthermore, the high-tech hardware that the customer purchases directly is always the equivalent of his investment. At 7Cloud Mining AG, mining takes place without a limited term according to the “24/7 principle”. The income can therefore be secured for years.

Seriousness is the key to choosing the right Bitcoin revolution

There are still many cloud mining providers who have unsettled mining users with incomprehensible technical terms and impermissible gag contracts. 7Cloud Mining AG makes direct contact with the Bitcoin revolution miners. Read more about it: http://www.onlinebetrug.de/en/bitcoin-revolution-scam Miners in Europe can communicate with each other in a personal way, and the fixed and low fees currently offered on the market make it possible to ensure long-term mining.

7Cloud Mining AG can offer these conditions and advantages; the respective requirements of the hardware can be fulfilled by the technically sound know-how and the competence of the employees. The opportunity to achieve profitable capital growth through the mining method has been put on a serious and solid process basis and has been stabilised and structured.

Top Bitcoin News of the Week: Blockchain Banking, Gold and Growing Interest

Bitcoin: A week under the sign of cards. Bitwala begins with its blockchain bank, TenX begins with KYC checks. We’ll explain why Bitcoin is better than gold. Top Bitcoin news of the week.

Once again a week moved into the country, in which all kinds of things happened in the world of crypto currencies and blockchain technology. For all of you who spent the last week behind the moon, forgot everything or just want to know what happened in the field of crypto: the BTC-ECHO-Newsflash. The most important at a glance.

Bitwala: Blockchain Banking begins the news spy

On 12 December, Bitwala gave the go-ahead for its Blockchain Bank. In cooperation with the news spy solarisBank, the FinTech company now offers crypto and traditional banking services from a single source – including crypto debit cards.

Breaking: TenX launches credit card
Number two of our article of the week goes to TenX. The crypto company around Dr. Julian Hosp gave the starting signal on the same day as Bitwala – for the start of the Know-Your-Customer checks of their customers. However, the two crypto card companies should (for the time being) not get in each other’s way. TenX initially focuses its card on Singapore and the Asian region. It will take some time before the TenX cards reach us.

5 reasons why Bitcoin secret is better than gold

Bitcoin secret: Better than gold? You can already hear Warren Buffett and his friends snorting angrily through their permabar nostrils. But we don’t really care. Because here are 5 reasons why Bitcoin secret is better than gold.

Bitcoin falls? Interest is rising – a silver lining on the horizon
Apropos Perma: The crypto market and the flourishing industry around it are probably quite indifferent to the current frosty weather on the Bitcoin market. Blockchain developers are in demand like never before, the Google search volume for Bitcoin & Co. is constantly increasing. In short: Interest in Bitcoin is rising – despite falling prices.

Gemini: Exchange opts for Bitcoin ABC (BCH)
The Winklevoss brothers don’t seem to mind the current prices either – especially with regard to Bitcoin Cash. The crypto currency, which should now be called Bitcoin ABC but which somehow remains the old one, is listed on the Gemini stock exchange of twins for the time being. However, they’re not quite sure about “Vision Satoshi” yet.

The situation on Wednesday: Bitcoin à la carte
Our middle of the week was also dominated by the cards: Bitcoin à la carte was a hot topic last week. Why was that so? Read it yourself.

Bitcoin mining: Up to 800,000 devices switched off

Between 600,000 and 800,000 Bitcoin Miners have been temporarily shut down since the beginning of the price turbulence in November. What sounds like a Bitcoin exodus is the natural reaction to falling prices and rising electricity costs.

For the Bitcoin secret miners who remain on the market, the lower hash rate also means decreasing competitive pressure

We already reported on the Bitcoin secret difficulties of the mining industry to operate profitably in these stormy times on 22 November: https://www.geldplus.net/en/bitcoin-secret-review/ The vague term “difficulties” now seems to be taking on concrete form. According to F2pool founder Mao Shixing in an interview with CoinDesk, an estimated 600,000 to 800,000 miners have been taken off the grid since mid-November.

As a result, the hash rate, which rose steadily until the beginning of November despite the bear market, has shown a downward trend in the course of the crash of the last two weeks. This is shown by the data from blockchain.com:

Judging by the chart, the hash rate has fallen from its 30-day high on 4th November from around 54 million terahashs per second (TH/s) to 41 million TH/s on 24th November. This represents a loss of about 15 percent of the hash rate in just 20 days.

According to Mao, the loss of hashing power in the network is primarily due to the fact that a large number of miners can no longer operate profitably and are therefore forced to take their devices off the grid. This is especially true for Bitcoin miners that still rely on older and therefore less efficient ASIC miners such as the Bitmain Antminer T9+. According to the report, these provide only a hashing power of 10 TH/second. Too little to operate profitably on the market in view of the price turbulence.

Mining Pool F2pool alone has broken away more than ten percent of the miners in recent weeks. Although the exact figure is difficult to estimate, according to Mao the mining pool would have seen “tens of thousands of miners shut down” after talks with individual mining farms.

Various cryptosoft factors responsible

However, the cryptosoft crash cannot be identified as the sole cause. There is also the increase in electricity costs: https://www.forexaktuell.com/en/cryptosoft-scam/ Due to water shortages, these tend to be higher in winter than in summer. In the summer, Miner calculate the equivalent of 0.029 US dollars per kilowatt hour (KWh) of electricity, while the price per KWh can rise to 0.043 US dollars per KWh in the cold months.

Mao emphasizes, however, that Bitcoin mining is a dynamic process. Switching off the equipment is often a temporary reaction to the market situation. Should prices rise again, the break-even point could be attainable again for a large number of competitors. Then, according to Mao, the hash rate will rise again.

Difficulty also on the downswing
For those who have been around a bit longer, the direct connection between hash rate and difficulty is intuitively clear. For all others it should be pointed out that a lower hash rate also results in a decreasing difficulty. The difficulty is the dynamic indicator for the “difficulty”, i.e. the amount of computing power that the miners have to muster in order to propagate a new block.