比特幣礦工在歷史性難度下降中面臨不確定性，為網路的未來蒙上陰影

5 月 10 日，比特幣挖礦難度暴跌 6%，創下 2021 年 7 月以來最大百分比跌幅。最初預計序數和符文將透過增加交易費用來增加礦工收入，但隨著活動的平淡，卻未能實現。由於符文和序數無法提供喘息的機會，礦工依賴標準交易費用，這可能會導致規模更大、效率更高的參與者進一步整合採礦權。

Bitcoin Miners Grapple with Unprecedented Difficulty Drop, Casting Doubt on Network's Future

比特幣礦工努力應對前所未有的難度下降，對網路的未來產生懷疑

In a seismic shift that has sent shockwaves through the Bitcoin mining community, the network's difficulty has plummeted by a staggering 6%, the largest percentage decline since July 2021. This dramatic adjustment, a direct consequence of the highly anticipated halving event on April 19, has fueled widespread speculation about the fate of Bitcoin miners, with many fearing an impending exodus.

比特幣挖礦社群發生了巨大的變化，網路難度驟降了6%，這是自2021 年7 月以來最大的百分比跌幅。直接後果，引發了人們對比特幣礦工命運的廣泛猜測，許多人擔心即將出現大批礦工外流。

The halving, a pre-programmed feature that occurs every four years, reduces the block reward for miners by half, from 6.25 BTC to 3.125 BTC. This drastic reduction in revenue has placed immense pressure on miners, already struggling to make ends meet. The post-halving period has witnessed a precipitous drop in daily mining revenue, from a peak of $107.8 million in the lead-up to the event to a meager $29.9 million on May 9, the lowest level in 29 weeks.

減半是每四年發生一次的預先編程功能，它將礦工的區塊獎勵減少一半，從 6.25 BTC 減少到 3.125 BTC。收入的大幅減少給已經入不敷出的礦工帶來了巨大的壓力。減半後的每日挖礦收入急劇下降，從減半前的最高 1.078 億美元降至 5 月 9 日的 2,990 萬美元，為 29 週以來的最低水準。

Compounding the miners' woes is the lackluster performance of Ordinals and Runes, two protocols that were touted as potential saviors post-halving. Ordinals, which allows for the inscription of images and other digital content on the Bitcoin blockchain, enjoyed a brief surge in activity upon its launch in January 2023. However, its popularity has since waned, with daily inscriptions plummeting from 480,000 at its peak to a mere 15,333 on May 8. Fees generated by Ordinals have also taken a nosedive, from a peak of $321,263 on April 26 to just $719 on May 9.

序號和符文的低迷表現加劇了礦工的困境，這兩種協議被吹捧為減半後的潛在救世主。 Ordinals 允許在比特幣區塊鏈上刻錄影像和其他數位內容，自2023 年1 月推出以來，其活躍度曾短暫激增。次直線下降至5 月 8 日僅為 15,333 美元。

Runes, another protocol designed to bring meme coins to the Bitcoin base layer, has also failed to live up to expectations. Despite initial optimism that it would drive up transaction fees and offset the impact of the halving, Runes activity has flatlined. The number of transactions has plummeted from a peak of 23,061 on April 26 to a mere 43 by May 9, and fees have dwindled to a negligible $719.

Runes 是另一個旨在將 meme 幣帶入比特幣基礎層的協議，也未能達到預期。儘管最初樂觀地認為這將推高交易費用並抵消減半的影響，但符文活動已趨於平緩。交易數量從 4 月 26 日的峰值 23,061 筆驟降到 5 月 9 日的僅 43 筆，費用也降至微不足道的 719 美元。

With both Ordinals and Runes failing to provide the anticipated boost in revenue, Bitcoin miners are left with little choice but to rely on standard transaction fees from users moving BTC. However, these fees have also been insufficient to offset the halving's impact, leaving miners grappling with razor-thin margins.

由於序數和符文都未能提供預期的收入成長，比特幣礦工別無選擇，只能依賴轉移 BTC 的用戶的標準交易費用。然而，這些費用也不足以抵銷減半的影響，導致礦商面臨微薄的利潤。

The declining difficulty, a cumulative metric, serves as a stark reminder of the challenges facing Bitcoin miners. As less profitable operations are forced to shut down, it paves the way for further consolidation of mining power among larger, more efficient players. This trend could ultimately lead to a more centralized Bitcoin network, raising concerns about its long-term security and decentralization.

難度的下降是一個累積指標，它清楚地提醒人們比特幣礦工面臨的挑戰。由於利潤較低的業務被迫關閉，這為規模更大、效率更高的參與者進一步整合採礦能力鋪平了道路。這種趨勢最終可能會導致比特幣網路更加中心化，引發人們對其長期安全性和去中心化的擔憂。

While it is premature to declare Runes a flop, given its nascent stage, the protocol's underwhelming performance has dampened hopes that it could provide a lifeline to struggling miners. The crypto community is closely monitoring the situation, with many expressing doubts about the future of Bitcoin mining in the face of such adversity.

雖然現在宣布 Runes 失敗還為時過早，但考慮到它還處於起步階段，但該協議平淡無奇的表現已經挫傷了人們對其為苦苦掙扎的礦工提供救生索的希望。加密社群正在密切關注事態發展，面對這種逆境，許多人對比特幣挖礦的未來表示懷疑。

As miners continue to face unprecedented pressure, the fate of the Bitcoin network hangs in the balance. The coming months will be crucial in determining whether the halving event will mark the beginning of a new era for Bitcoin mining or a slow and painful decline.

隨著礦工繼續面臨前所未有的壓力，比特幣網路的命運懸而未決。未來幾個月對於確定減半事件是否標誌著比特幣挖礦新時代的開始，還是緩慢而痛苦的衰退至關重要。