For #bitcoin miners, we’re about to see the largest difficulty drop EVER this upcoming week (Over 20%)!

Here’s a quick thread to get everyone up to speed!

👇👇 1) For every 2016 #Bitcoin blocks that are solved, the difficulty is adjusted based on the time it took to find the previous 2016 blocks.

The #btc network is designed to recalibrate difficulty so that blocks are solved at an avg of 10 minutes (exactly 2 weeks for 2016 blocks)

Updates from calls with #bitcoin mining colleagues in China and what we’re seeing at @FoundryServices

👇👇 1) Sentiment is obviously quite dreary and the reality is setting in that it’s GG for mining in China. Some mining friends have stuck around Sichuan since the Bitmain conference to drink their sorrows away. Now… 酒都不想喝了 - “not even in the mood to drink anymore”

👇👇

Last night @BITMAINtech hosted a VIP invite-only event, in Chengdu, for their largest customers to discuss migrating hashrate from China. A key focus was sending hashrate to the US. The event featured prominent players (@McNamaraMT , @Marco_Streng , etc), celebs (@kevinolearytv ), the governor of Texas ( @GregAbbott_TX ), and this random dude: