Express

PwC Analyst Says 98% Of Bitcoin Mining Machines Will Never Produce A Block

Ramsey Baker

Summary: Alex de Vries, the blockchain specialist for the consultancy firm PwC and founder of crypto analytics site Digiconomist, state that 98% of bitcoin mining machines will never produce a single block of transactions in their average lifetime of 1.5 years. According to a tweet from de Vries on Monday, out of the estimated 4 million ...

Alex de Vries, the blockchain specialist for the consultancy firm PwC and founder of crypto analytics site Digiconomist, state that 98% of bitcoin mining machines will never produce a single block of transactions in their average lifetime of 1.5 years.

According to a tweet from de Vries on Monday, out of the estimated 4 million machines that are currently and only 75,000 blocks are produced every 1.5 years, which means that less than 2% machines ever produce a block to verify bitcoin transactions.

By Ramsey Baker

Last Update:

Tags: ,,,,,
Link: PwC Analyst Says 98% Of Bitcoin Mining Machines Will Never Produce A Block   [Copy]
  • The GENIUS Act & Stablecoin Regulation: BRG's Dominic Zagara on Crypto's Defining ... 2 days ago
  • Bitcoin Weekly Analysis: Volume-Price Divergence and High-Level Consolidation Anticipat... 5 days ago
  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 6 days ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 9 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 10 days ago
  • You need to login to comment.