The Crypto Con 2018 to be Held in Mumbai

The Cryptocurrency Event held on March 23 of 2018 will bring leading experts to share knowledge and discuss the opportunities in a best professional environment
01 March 2018   1040

The Crypto Con will take place on March 23, 2018 in Mumbai hosting a large number of digital currency enthusiasts, investors and traders, who want to know more about the world of blockchain and cryptocurrency.

The conference will host attendees from more than 10 countries including United States, Russia and the United Kingdom, and will give the participants a unique opportunity to discuss and showcase the recent and upcoming cryptocurrency mining trends while networking with some of the biggest players in the market.

the crypto con 2018 mumbai logoThe Crypto Con 2018 Mumbai logo

The headline speakers include José Alejandro Regojo Barrón (Bitcoin Gold core team member), Francisco “ArticMine” Cabañas (Monero), Michael Gord (Founder & CEO at MLG Blockchain Consulting), Michael Yuan (Chief Scientist and Co-founder at CyberMiles), Matej Michalko (Founder & President at Decent), and many more.

The agenda of the conference covers Digital Currency and Indian Economy-An insider’s insight, Innovations in the cryptocurrency market, Evolution and challenges with an ever-increasing database, Challenges of increased taxation of profits and Barriers in adoption and more.

Bear Market to Hit Mining Hard

BitMEX research division presented an analysis of the impact of market decline on the mining industry
11 December 2018   63

The cryptocurrency market has experienced a marked decline over the past weeks. The BitMEX research division presented an analysis of the impact of these events on the mining industry. Bitcoin hash rate has fallen by 31% since the beginning of November, which is equivalent to the capacity of 1.3 million Bitmain S9 devices. From this, BitMEX concludes that miners as a class are in a difficult situation, however, they may have different conditions, and those who pay more for electricity, are forced to turn off their equipment first, while others may still be quite viable.

The decrease in the price of Bitcoin by 45% since the beginning of November has already caused two recalculations of the complexity of mining to the lower side - by 7.4% and 15.1% on November 16 and December 3, respectively. The first recalculation turned out to be the largest since January 2013, the second - since October 2011.

Bitcoin mining revenue fell from $ 13 million per day in early November to $ 6 million per day in early December. The fall in the size of the miner's encouragement turned out to be even more rapid than the fall in the price of cryptocurrency. This is due to the delay in recalculating the complexity of mining. For the six-day period ending December 3, 21.8% fewer blocks were mined than expected, since the miners left the network before recalculating the difficulty. As a result, in addition to reducing the size of the miners' encouragement in dollar terms, due to lower asset prices, they received 21.8% less bitcoin awards.

One of the popular reasons for the recent decline in the cryptocurrency market is that miners sold bitcoins to cover their costs of hash warsin the Bitcoin Cash network. The monitoring platform Boltzmann recorded an unusually large sale of Bitcoin by the miner on November 12, that is, 3 days before the hard fork of Bitcoin Cash.

BitMEX assumes that the actions of miners over the past weeks could have played a significant role in reducing the market, however, recommends not overestimating their value and reminds that in a bearish trend, prices continue to fall regardless of asset movements and news.