Eighteen blocks left until 1/2 ing.
I have been catching up on my readings in the forum and several miners have called it quits & selling their gear... citing rewards halving mainly, expensive & un-ROI-able S9 and couldn't justify power bill etc.
I couldn't see the rationale here because they can upgrade to S9 which basically gives 2-5 to 3 times more hash for lower power than S7, Avalons etc.
Yes, block rewards is less now but TX amount should increase since its more difficult to find a block.
I think the most important variable that we can depend on is Kano's track record reporting on average we will see 100 blocks every 23 plus days.
My question now is ... will the increased (or lower) difficulty change the 100 block mark to 46 days (23 x 2)?
Any insights from experts?
I am thinking that people are scared of the unknown. The S7s are still and will still be profitable, just not as much. I have 43 S7s for sale right now. If they sell great, if they do not, great.
I do not think that there will a big difference in the difficulty level from historical averages. The ones getting out of mining are small. The biggest difference will be in the supply and demand; furthermore, drastic changes in the price of Bitcoin. The next 2 weeks will be a settling in period. I think that Bitcoin will have a dramatic increase by September and by the end of the year! My thoughts.
