2019’s Bitcoin Miners Are 5x Faster Than Predecessors

Data Shows 2019's Bitcoin Miners 5x Faster Than Predecessors

High-powered bitcoin miners and next-generation semiconductors go hand in hand and as process node technology grows, SHA256 hashrate follows. Coinshares’ recent bi-annual mining report highlights that newly introduced mining rigs have “as much as 5x the hashrate per unit as their generational predecessors.” Advanced chip technology has grown relentlessly and it’s significantly bolstered ASIC device manufacturing. Moreover, news from the International Electron Devices Meeting (IEDM) held on December 7-11 shows that the semiconductor industry is moving beyond the 7nm, 5nm, and 3nm processes and expects to design 2nm, and 1.4 nm chips by 2029.

Also Read: Lightning Network Wiki Page Faces Removal for Lack of Notability

2019’s Bitcoin Mining Rigs Produce Far More Hashrate Than Last Year’s Models

As far as the bitcoin mining industry is concerned, the ASIC device manufacturing industry is growing fast. Today’s devices produce far more hashrate than the mining rigs produced years ago and a number of them produce far more hashpower than last year’s models. Coinshares Research published a report this week that highlights how today’s mining rigs have “5x the hashrate per unit” compared to the earlier-generation units produced. News.Bitcoin.com covered the rising hashrates per unit from devices sold in 2018 and the hashrate increase in 2019 has been exponential. For instance, in 2017-2018 many mining rigs shifted from the 16nm semiconductor standard to the lower 12nm, 10nm and 7nm processes. On December 27, 2018, top bitcoin mining machines produced an average of 44 terahash per second (TH/s). Top 2018 machines included the Ebang Ebit E11+ (44TH/s), Innosilicon’s Terminator 2 (25TH/s), Bitmain’s Antminer S15 (28TH/s) and the Microbt Whatsminer M10 (33TH/s).

2019's Bitcoin Miners Are 5x Faster Than Predecessors
Two of the top producing bitcoin miners manufactured in 2019.

In December 2019, a number of mining devices now produce 50TH/s to 73TH/s. There are high-powered mining rigs like Bitmain’s Antminer S17+ (73TH/s), and the S17 50TH/s-53TH/s models. Innosilicon has Terminator 3, which claims to produce 52TH/s and 2800W of power off the wall. Then there’s rigs like the Strongu STU-U8 Pro (60TH/s), Microbt Whatsminer M20S (68TH/s) and Bitmain’s Antminer T17+ (64TH/s). At today’s prices and an electrical cost of roughly $0.12 per kilowatt-hour (kWh), all of these high powered mining devices are profiting if they mine the SHA256 networks BTC or BCH. At the end of the Coinshares Research mining report, the study discusses many of the next-generation miners available, alongside older machines being sold on secondary markets or still being used today. The report covers machine logistics and prices from manufacturers like Bitfury, Bitmain, Canaan and Ebang. Each mining product is given an “Assumption Rating Strength from 0 – 10,” the report notes.

2019's Bitcoin Miners Are 5x Faster Than Predecessors
On December 27, 2018, top bitcoin mining machines produced an average of 44 terahash per second and today’s models produce upwards of 50-73TH/s.

While Bitcoin Miners Leverage 7nm to 12nm Chips, Semiconductor Manufacturers Have a Roadmap for 2nm and 1.4nm Processes

In addition to the notable performance increase with 2019 mining rigs compared to models produced last year, the semiconductor industry’s recent IEDM event shows ASIC miners will likely continue to improve as the years continue. The five-day conference underlined the growth of 7nm, 5nm, and 3nm processes within the industry, but more innovation is on the way. Slides from Intel, one of the top semiconductor manufacturers in the world, indicates the company plans to accelerate its 10nm and 7nm processes and expects to have a 1.4nm node by 2029. This week saw the first mention of the 1.4nm infrastructure in an Intel slide and anandtech.com says the node would “be the equivalent of 12 silicon atoms across.” The IEDM event slideshow from Intel also shows a 5nm node for 2023 and a 2nm node within the 2029 timeframe as well.

2019's Bitcoin Miners Are 5x Faster Than Predecessors
Participants at the International Electron Devices Meeting (IEDM) held on December 7-11 saw Intel’s first mention of the 1.4nm infrastructure.

Right now the ASIC mining rigs produced by manufacturers like Bitmain, Canaan, Ebang, and Microbt mostly leverage 12nm, 10nm, and 7nm chips. The 2019 units that utilize these chips are producing upwards of 50TH/s to 73TH/s per unit. This means as 5nm and 3nm processes fortify in the next two years, mining devices should improve a great deal as well. It’s hard to conceptualize how fast mining rigs packed with 2nm and 1.4 nm chips will perform, but they will likely be significantly faster than today’s machines.

2019's Bitcoin Miners Are 5x Faster Than Predecessors
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Moreover, the majority of mining companies are using chip processes by the Taiwan Semiconductor Manufacturing Company (TSMC). The Taiwan semiconductor foundry plans to accelerate processes just like Intel and it’s possible that TSMC might be ahead of the game in that regard. Despite which semiconductor firm creates better chips faster, the improvements within the chip industry as a whole will most definitely bolster bitcoin mining rigs being built over the next two decades.

What do you think about the growth of high powered bitcoin mining rigs between 2018 and 2019? What do you think about the improvement of 7nm, 5nm, 3nm processes and the possibility of 2nm, and 1.4nm chips by 2029? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Image credits: Shutterstock, Wiki Commons, Fair Use, Bitmain, Innosilicon, and Pixabay.

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The Country With Europe’s Highest Interest Rate Has Cut It 5 Times This Year

The Country With the Highest Interest Rate in Europe Has Cut It 5 Times This Year

Around half of European countries, over 20, now have 0% interest rates and a few are already in negative territory. Ukraine, which has the highest benchmark interest rate on the continent, has just reduced it again, for the fifth time this year. The race between central banks to cut rates, when there is inflation, has made it costly to keep fiat money in a bank account or under the mattress.

Also read: European Banks Struggle With Low Interest Rates and Strict Regulations

Ukraine Slashes Interest Rate by 2 Percentage Points

There are over 40 countries in Europe but only half of them nowadays have their interest rates above 0%, and just a few come close to Ukraine’s high rates. But the Eastern European nation, which has also been facing high inflation amid political turmoil, economic crisis and an unresolved military conflict, has reduced its benchmark rate five times this year.

The Country With Europe's Highest Interest Rate Has Cut It 5 Times This Year

This past Thursday, the National Bank of Ukraine (NBU) slashed its key interest rate again, from 15.5% to 13.5%, which is its lowest level in two years. As Reuters and local media noted, the decision has been motivated by Ukraine’s inflation that is slowing faster than expected, to 5.1% year-on-year last month, a strengthening hryvnia, and prospects of new loans.

Kiev reached a provisional agreement with the International Monetary Fund (IMF) on Saturday. But a new deal, expected in the first months of 2020, will depend on the progress of important reforms. For example, the IMF wants to make sure the government gets its money back from bailed out banks and ban the return of failed institutions that have been nationalized to their previous owners, as in the case with Ukraine’s largest lender, Privatbank.

Ukraine has maintained double-digit interest rates since 2014, when protests led to a change of the government administration in Kiev, followed by Crimea’s annexation by Russia, and the eruption of a bitter conflict with pro-Russian separatists in the country’s Eastern regions of Donetsk and Lugansk. Only a couple of countries in Europe come close to Ukraine’s interest rate figures, like Turkey with 12% and Belarus at 9%.

The Country With Europe's Highest Interest Rate Has Cut It 5 Times This Year

Europe’s Low Interest Rate Pandemic

Nations such as Sweden, Switzerland and Denmark are at the other end of the spectrum. Sweden’s key interest rate is currently at -0.25% but there have been reports of even lower rates imposed by Swedish banks on euro accounts, -0.40%. The other two countries have their interest rates set at -0.75%. Both Switzerland and Denmark have kept them below zero since early 2015 and they are currently at their record lows. None of the three countries belongs to Europe’s single currency area.

According to the Trading Economics website, 21 European countries currently have 0% policy rates and the majority of them, including the region’s largest economies, are members of the Eurozone. The benchmark refinancing rate in the monetary union reached its all-time low in March 2016 and has remained there. The main deposit rate, at which banks leave money at the ECB, was cut to a record low of -0.5% in September. During its Dec. 12 policy meeting, the European Central Bank (ECB) left its key rates and stimulus measures unchanged. They are likely to remain so or be slashed even further until inflation moves closer to the 2% target.

Most of these countries have a positive inflation rate, however, which averages 1% in the euro area and 1.1% for the whole European Union. In Sweden the annual inflation rate increased to 1.8% in November, from 1.6% the previous month and above market expectations of 1.7%. This means the citizens of the majority of European nations are losing on their savings every day, regardless of how they store their funds, in a bank account, in a safe deposit box, or at home.

The Country With Europe's Highest Interest Rate Has Cut It 5 Times This Year
BCH, 1-year inflation rate and price.

Inflation goes hand in hand with fiat money and attempts to stimulate the economy through quantitative easing and interest rate cutting is the recipe of choice for most governments nowadays. Decentralized cryptocurrencies, on the other hand, come with a limited supply. By design, bitcoin’s inflation rate follows a steady long-term downward trend.

A quick look at the Bitcoin.com Charts shows that the BCH inflation rate has been hovering around 3.74% in the last month and that of BTC has negligibly increased from 3.85% in early November to 3.89% now. At the same time, the growing crypto banking industry offers interest rates that are quite higher than what you’d get in the fiat world. For example, the global financial services platform Cred lets you earn up to 10% on your BTC and BCH holdings. And let’s not forget that the prices of cryptocurrencies can increase as well.

Do you think the interest rate cutting spiral is going to end in the foreseeable future? Share your expectations and thoughts on the subject in the comments section below.

Images courtesy of Shutterstock, Bitcoin.com.

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Searching for Synthetix: Which Token Will Be Next Year’s 50x Winner?

Searching for Synthetix: Which Token Will Be Next Year’s 50x Winner?

If you bought synthetix (SNX) this time last year, you don’t need to read these words. You’re already rich after your moon bag lived up to its billing and pulled a 50x. Despite the era of undiscovered gems tapering off in 2018, there’s still a handful of tokens that achieve the impossible each year, making their holders ridiculously rich. Seele, synthetix, and link were among this year’s biggest winners. Which tokens will be next to 50x in 2020?

Also read: Lightning Network Wiki Page Faces Removal for Lack of Notability

Digging for for Diamonds in the Dirt

Glancing at this year’s best performing coins, as recorded by Coincodex, you could be forgiven for thinking astute investors were all presently sunning themselves on tropical islands, purchased with the proceeds from their ETM, with its 700 million percent gains.

Searching for Synthetix: Which Token Will Be Next Year’s 50x Winner?
Most of the coins depicted here have no liquidity, and thus their percentage gains are meaningless.

The reality, of course, is less glamorous: there were few buy-and-hold winning trades this year, and the coins that proved profitable had actual tradable volume, unlike En-Tan-Mo and Dragonvein with their sick percentage gains but $0 market cap.

Filter Coincodex’s year-to-date (YTD) returns for the top 200 assets and the picture becomes clearer. Top of the heap, with an impressive 3,417% return, is seele, whose YTD chart looks like this:

Searching for Synthetix: Which Token Will Be Next Year’s 50x Winner?

Zoom out to when seele was issued the year before, however, and its chart looks like this:

Searching for Synthetix: Which Token Will Be Next Year’s 50x Winner?

As Bruce Wayne’s butler, Alfred, mused in The Dark Knight Rises: “There is a prison in a more ancient part of the world. A pit where men are thrown to suffer and die. But sometimes a man rises from the darkness. Sometimes the pit sends something back.” In 2019, the pit of dead ICO tokens threw something back in the form of seele, which got market made to the max on Huobi, resulting in the most impressive YTD gains of any top 200 asset. To misquote Vitalik Buterin, “Congrats on this Seele. Seriously.”

Searching for Synthetix: Which Token Will Be Next Year’s 50x Winner?
Alfred in “The Dark Knight Rises”

If You Bought ‘Molecular Future’ This Year, Take a Bow

Aside from seele’s rocket ride from ignominity to the moon, a handful of other tokens recorded triple or quadruple percentage gains in 2019 – and some were even achieved on the basis of fundamentals, rather than exchange-related jiggery pokery. Molecular future (MOF) is something of a mystery, but it was pumped hard on Okex, resulting in a price of $1.58 per token and a YTD gain of 3,280%. Impressive.

In third place comes defi favorite synthetix (SNX), perhaps this year’s overall winner given that its trajectory hasn’t been reliant on any single exchange. For a token that started the year at $0.03 and is currently trading for $1.27, SNX must down as one of this year’s best buys – and with the decentralized derivatives platform now the second largest defi protocol, with $170M locked into its ecosystem, Synthetix would appear to have a promising future. Just don’t count on it doing another 50x next year.

Searching for Synthetix: Which Token Will Be Next Year’s 50x Winner?

Other tokens that have had a very good 2019 include Constellation’s DAG, up 720%, and chainlink, up 600%. After that, the quality and gains of the top performing coins diminishes sharply. Whatever next year’s market brings, be it bull or bear, a handful of coins are likely to pull a seele and go 50x. But which? Picking 2-3 winners out of 3,500 tokens is a shot in the dark that’s almost certain to fail. That didn’t stop news.Bitcoin.com from polling a number of traders and industry insiders on next year’s likeliest to succeed coins. Here are their picks.

Arweave

If any project has a chance of emulating Seele and going from obscurity to mainstream awareness long after its token sale has concluded, it might just be Arweave. Its token sale ended in June 2018 and the AR token has yet to reach a major exchange – Bilaxy is as good as it gets. Despite this, the Arweave mainnet has been up and running since the start of the year, and its team intensively shipping code, organizing hackathons and raising awareness of its permaweb for archiving information, from websites to tweets.

Searching for Synthetix: Which Token Will Be Next Year’s 50x Winner?

In November, Arweave revealed it had secured funding from a16z crypto, Union Square Ventures, and Multicoin Capital, who have taken tokens as part of their stake in the project. Arweave appears to be that rare thing: a blockchain project solving a genuine problem – namely broken links and disappearing web content. It’s got the team, the VC backing, and the infrastructure in place. Now all Arweave needs is some liquidity for its AR token for beautiful things to happen.

Kleros

Justice as a Service project Kleros also had a busy year, rolling out useful products such as a generalized token curated registry (TCR). This enables anyone to create their own list of vetted vendors, merchants, products, services or places, with crowd wisdom used to gauge the validity of each entry. From rating restaurants to darknet marketplaces, the potential uses for Kleros’ TCR are vast.

Searching for Synthetix: Which Token Will Be Next Year’s 50x Winner?

That alone won’t cause the value of its PNK token to rocket, but other developments might. Kleros, which was singled out for praise by Vitalik Buterin this year, is currently building out Proof of Humanity with Democracy Earth, a process for establishing identity without relying on central authorities. Perhaps more importantly, from an investor perspective, Kleros is selling the second tranche of its tokens in January, setting PNK up nicely for a year of price discovery.

Elrond

As a Binance IEO, Elrond needs no introduction – even if most of those who’ve traded it have no idea what the project actually does. It’s a high speed interoperable blockchain basically – nothing new there, admittedly. However, Elrond does have a couple of things in its favor: for one thing, ERD is a low sat coin (currently trading for 28 sats), and for another its mainnet is about to launch. Coupled with the Binance factor, it seems reasonable to predict price appreciation for ERD next year. Not 50x, but 2x perhaps, and in the current climate, that’s a respectable return.

Pegnet and Nyzo

The final two tips for 2020 come courtesy of a professional 4chan shiller who, in keeping with the site’s ethos, would prefer to remain anonymous. His moon bags for 2020 include Nyzo, a collaborative verification project that uses a queueing system instead of PoW or PoS, and Pegnet (PEG), an open source, mineable stablecoin network which is currently only available on Citex exchange.

The odds of any of the tokens mentioned here pulling a 50x next year are vanishingly small, yet that won’t stop a small band of believers from trying their luck with these and hundreds of other mid- and microcap coins. One of them’s got to come in, right?

Which tokens do you expect to do well next year? Let us know in the comments section below.

Disclaimer: Price articles and market updates are intended for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

Images courtesy of Shutterstock.

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