The State of Crypto Mining 2020
- survey & report.
Without crypto mining, there would be no Bitcoin, no blockchain — and especially no decentralization to the entire system.
One event may have a significant effect on how crypto is mined in the coming months: the block halving event, when Bitcoin rewards will be cut in half as a way to regulate the system and stop inflation. While halving events have seen Bitcoin prices soar in the past, it may cause individual miners to pull out of their mining efforts.
We wanted to know what Bitcoin owners knew about mining, and their expectations about the impact of the Halving. We conducted a survey on March 17, 2020 of 750 respondents who either own or have owned Bitcoin at some point in the past.
One of the key insights was that the majority of miners expect a price increase both in the short and the long term.
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