Bitcoin prices will not “kill” mining

A large encryption currency mining programme sponsored by the government of Paraguay, should be able to calm people because the current bitcoin price and had to shut down machine stop worrying.

The project has 15 years of power “”

In the 11 month 18 day news conference, South Korea blockchain start-up companies Commons Foundation confirmed that the authorities have for the Golden Goose project “guarantee” has sufficient power supply. The project will become the “crypto currency mines and the world’s largest stock exchange”.

The company also said: the government of Paraguay has provided 50 thousand square meters for the mine site (a total of 50 thousand square meters of land).

Bitcoin prices since December 2017 has been in decline over the past week and took a nosedive.

Sunday when bitcoin prices fell below $3500, the market continued to decline bitcoin expressed concern. In order to ensure the profit margins, some miners had shut down the machine, thereby reducing the cost.

Eliminate bitcoin mine closed concerns

Some of the “bitcoin mining machine sold by catty” photos posted online last week on our website to make the interpretation, but not all people believe.

Entrepreneur Matt Odell (Matt Odell) on Sunday to comment on Twitter, open to subvert the low price of bitcoin means the concept of miners reduced, and said bitcoin mine is in the “wave of failures”.

He said: the difficulty of adjustment is good. Under such circumstances, bitcoin mining will become easier.

The closure of a mine each, remaining miners will get improved profitability.

According to the blockchain browser to display data in bitcoin prices continued to fall in recent cases, bitcoin difficulty after peaking in October also began a rare downward adjustment.

This time, Paraguay’s initiative is focusing on the long term. The world’s hydropower station yitaipu hydroelectric power station generating capacity of the largest, currently have 80% power supply abroad.

Commons Foundation chairman Choi Yong-Kwan said: we will use the low cost and abundant clean energy in Paraguay to build the world’s largest mines.

Paraguay vice president Hugo Velazquez Moreno (Hugo Velazquez Moreno) further said that the project will also receive preferential tax policy.

He said: “the Paraguay government will actively support Commons Foundation’s’ Golden Goose ‘project, and provide preferential tax policy by.”

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