Bitcoin’s hash rate maintained a stronghold throughout the year as it compliments the new ATH for BTC network difficulty.
Network difficulty increased by 300% in recent years indicating that the system is doing exactly what it's designed to do. As inflation decreases and rewards get split in half, the demand on the other hand gets to increase, thus affecting the miner's difficulty. Why? Well, as the price goes up and the value gets captured, more and more people want to participate in the economy.
If it wasn't obvious by now, #BTC is the absolute store of value. Not only because it's not dependent on centralized rigs and works on predetermined rules, but rather because it's a more convenient and secure way of transacting as opposed to any other physical asset. Imagine having to send a ton of gold to Somalia. That would be tricky because you'd have to pay an army of people to guard it, and even then the risks are not completely mitigated.
Just when the Bitcoin (BTC) miners helped release the 19th millionth BTC in circulation on Friday, the BTC network’s mining difficulty reciprocated by reaching an all-time high of 28.587 trillion.
We are 90% there, and there are only 2 million left to be mined.
I guess 2022 will quite a crucial year for #BTC to finally prove its worth!
It's kinda obvious what's about to happen, don't you think so?
I'm calling the shot, by the end of 2022 #BTC will be traded above $100K.
Everything else is short term sight.
Fun times ahead!
Posted Using LeoFinance Beta
It’s outta here! Lol. Na but really, this is partially why I am moving all my inflationary rewards into BTC for the most part, or at least a wrapped version so I can use it in Defi… Once I am at my goal there, it’s on to moving some back to the ledger cold wallet
Definitely a smart thing to do, especially nowadays where you can't be certain in anything, lel.
The wrapped version is ok is you ask me, gotta yield something, right
Yep. Acts like my own personal credit line. I would say at least Binance Smart Chain isn’t going anywhere anytime soon, so I feel pretty safe with it there for now.