769,8 Exahash
Bitcoin’s halving event in May of this year was the start of a rise of the hashrate of Bitcoin, but at the same time prices have also risen. Yesterday we hit a new record hashrate of 769,8 Exahash, a number almost impossible to explain.
With the halving miners have invested in more energy efficient miners and smaller miners were pushed outside of the market because of lower profitability. But there was a fear that lots of miners would sell a huge chunk of their mined coins to invest in newer, more efficient hardware. But that number is surprisingly low. Just shy of 3000 BTC was sold by the miners. Which had very little effect on the price.
Smaller miners profitable again?
The rising price of Bitcoin has also reinstated smaller miners again, because it became profitable again. Which had an immediate effect on the difficulty and the hashrate. It seems like the hashrate will rise a lot more in the coming months which will in turn make prices also rise more.
It seems like the bullrun has begun!
Sincerely,
Pele23
Posted Using InLeo Alpha
Hash rate on ATH only means more and more people/companies/institutions are mining Bitcoin since they believe in its value. Bullish! 💪🏻
That is so true dude! I was explaining to this idiot the other day that the internet uses around 10% of the world's power so it is clearly more outdated than smoke signals and those birds we can use to carry paper notes. Who needs fucking email when birds can do it? Combine that 10% internet energy waste with the less than 1% that the filthy bitcoin uses and we can see that getting rid of the internet and bitcoin would save 11% of the world's power.
Damn 11 is a huge number! I have to take off a shoe to count to 11.
You heard it hear first
/Lassie Errors
UFO (Aliens) > DPOS (Titan X) > POW (Bitcoin), a child can understand it
You heard it hear first
/Lasse Errors
A child can start this video with a mouse click and understand what they were watching. What's your excuse for not being able to do it Lasse?