BTC mining difficulty is ATH.
Compared to 2021, the mining difficulty of Bitcoin(BTC) is more 2 times. In 2021, ATH(All Time High) is $69k. Even though the price is lower than before, why is the mining difficulty higher? What does it mean? 🤔
The mining profitability is getting lower than before. Nevertheless, BTC miners have been putting more computing power to mine BTC more, using advanced ASICs. I think miners think the future of BTC is promising. So, they put more capitals to invest mining facilities.
Well, small-size miners will give up the game or join mining pools. While It seems being centralized, it means being more capitalized.
Let's assume that you are a business owner, and your business profitability is getting lower. Then, what would you do if the future of your business area is bright? The answer is yours.
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That's ridiculous that bitcoin comes for decentralization.
I think BTC is more decentralized than USD, which means not totally decentralized.
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I think BTC mining is just for people with huge capital only. I have said this because the price of equipments needed to mine it are very expensive . As this is not enough, the mining process consume considerable power/energy at a time when the world is embracing green energy.
Bitcoin is the most decentralized on planet earth. The crypto environment is very promising and I believe that over time many more credible projects will appear with a fair distribution because everyone should get their true share of the pie