The Bitcoin network has experienced the largest decrease in complexity since 2011.
The complexity of bitcoin mining was adjusted by -16.05%. The largest decrease in complexity was recorded in 2011, i.e. even before the „era of ASIC majors“. The second largest anti-record was set on 26 March 2020 after a sharp fall in the cryptovoltaic market. The decrease in complexity occurred against the backdrop of a drop in computing capacity in the bitcoin network and the resulting slowdown in block output. At the end of October, Chinese miners began to shut down equipment to move it after the rainy season. Now that the complexity of the mining has been reduced, we can expect the unit release time to approach 10 minutes. This, in turn, will have a positive impact on the speed at which transactions can be added and reduced processing fees.
The yield of bitcoin milling increased by 8% in October
In October, Bitcoin mining generated revenues of $353 million, an increase of 8% over September. The increase in the profitability of the mining took place against the backdrop of a 30% appreciation of the first crypt currency and the seasonal migration of Chinese miners at the end of the month due to the end of the rainy season in Sichuan Province. The latter led to a drop in the hash rate, lower transaction processing rates and higher commissions, according to Coin Metrics. The estimate of the revenue of the miners suggests that they are instantly selling the bitcoins they have mined. In October, the minimers collected commissions of $42.9 million – an amount that exceeded 12% of total revenue. The last time the share was at this level was in January 2018. This is due to the largest overload of membrane in three years: it was filled as a result of a fall in the hash rate at the end of the month.
The SEC has simplified crowdfunding conditions for cryptovoltaic startups
The US Securities and Exchange Commission (SEC) has raised the limit for regulated crowdfunding campaigns from $1.07 million to $5 million. It is now expected that cryptovite startups will have more opportunities to raise investments other than venture capital in the legal environment. Adjustable crowdfunding allows startups to offer securities without registering with the SEC. It is sufficient to limit the investment amount for non-accredited investors. Under SEC rules, anyone can participate in such campaigns. New amendments will no longer apply restrictions to accredited investors, and the amount available for investment to non-accredited investors will be calculated based on their annual income, which will increase the limit within 12 months.
Hong Kong will extend regulatory requirements to all cryptocurrency exchanges.
The Hong Kong authorities have decided that all platforms for trading cryptov currencies should receive a regulated status. Previously, the requirement applied only to those platforms that trade in securities. According to Ashley Alder, head of the Hong Kong Securities and Futures Commission, in the past the regulator used a selective legal framework for cryptographic trading platforms, which allowed some of them to operate outside the eyes of the authorities. There are now several major crypt currency exchanges operating from within Hong Kong, including Huobi, OKEx and BitMEX.
The total capitalisation of the cryptovolta market at 17:00 is $395,241,901,686. The trading volume for 24 hours was $88,131,614,054.
- Bitcoin rose by 2.65% to $13,662.44 Ethereum rose by 0.26% to $383.41.
- Tether fell in price by 0% to $1.00
- XRP rose by 1.71% to $0.239.
- Bitcoin Cash fell by 5.74% to $244.4.
The Midas Touch Gold (+11.45%) showed the best growth among the top 100 cryptocurrencies.
Profitability of mining
- Bitcoin: $0.0953 per 1 TH/s
- Air: $0.0271 per 1 MH/s
- Bitcoin Cash: $0.105 for 1 TH/s
- Lightcoin: $2,416 for 1 GH/s
- Dash: $9,063 for 1 TH/s