Bitcoin continues to fall and approaches 5000 MaJ dollars

collapse in value hurts miners' strategies

The bitcoin had its heyday in late 2013 and early 2014 with a value climbing to over $ 700, then $ 1,000, and fueling all speculation. It also had the merit of talking about virtual currencies, their strengths and weaknesses.

The warnings of financial institutions global and various cases of fraud or the disappearance of bitcoins among several players have put a brake on the further development of the value of bitcoin, causing it in a downward spiral since mid-2014.

Bitcoin Back a little above 200 dollars, it has just experienced a brutal decline of 21%, bringing it to 179.37 dollars, or a 44% decline compared to the beginning of the year and 85% since its record at 1165 dollars in December 2013, which would correspond to a value of $ 11.3 billion exit from the Bitcoin ecosystem since that date, underlines the Wall street journal.

This situation poses a problem not for speculators but for bitcoin miners which feed the system by providing the computing power to process transactions in exchange for the regular generation of new bitcoins.

As the extraction of new bitcoins is increasingly difficult, significant resources have been deployed by certain miners. With the collapse in value, the hope of making these investments profitable is fading, unless there is a reversal of the situation. But some can no longer wait for this hypothetical event.

The business newspaper cites the case of the CoinTerra company excluded from a datacenter dedicated to bitcoin mining because it cannot pay its bills. These withdrawals led for the first time to a reduction in the total computing power of the bitcoin network.

Even if regulatory mechanisms exist in the extraction algorithm, the brutality of the changes in value may not allow all the actors to hold the shock.