Topic: Bitcoin Hash Rate Continue to Surge! - page 2. (Read 340 times)
If this is a good sign then it definitely keep us encourage. Its really good to see chart like this to serve as reference. Seeing it in an image or chart is something more interesting in the eyes and somehow more understandable. Bitcoin halving is coming so most likely if this increase continues it may somehow increase the value of halving period.
Wow, now I'm wondering whether the price boost from $7k to $8k is related to that. I know that mining is not directly related to price growth or anything but at the same time, it usually correlates. Oh, and does it have anything to do with the upcoming halving? Like, for instance, since halving is getting closer, more miners experience FOMO and do their best to mine some coins when the rewards are not too small yet... Would it boost the price even more, though? What if the rate gets more and more difficult, but the price does not go along with it and mining gets unprofitable, could it even have a negative impact then?
as long as we dont see a 90exahash bottom again we should be in for some promising good new price supports
That’s what I like to read
We’ll see but the price SHOULD naturally start to rise now as the halving is near.
Hopefully there could be the chance of a new ATH in 2020. Not sure how likely that is though.
I think having a consistent and a steady hashrate reflects a renewed interest in BTC mining and could complement its price as what is happening right now.
I just hope this scenario will continue over the next few weeks / months that I assume something good will happen with it.
I just hope this scenario will continue over the next few weeks / months that I assume something good will happen with it.
The hashrate increase we're seeing now is the result of The next halvening. I personally run 24 Antminer S17. I’ll run these bad boy until I start to break even. If this continues and the price moves up to around $12,000 you will see a fat rising in hash rate. that’s when many people will turn on their Mining operation until prices go down again. Hashrate follows price, but It's a lagging because it's impossible to instantaneously produce mining hardware. Put another way, the chip fabrication process is relatively slow when compared to price movements in this space.
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Also, hashrate is growing due to hardware becoming more efficient, perhaps a better metric would be the amount of electricity consumed by mining if we want to measure security of the network.
Also, hashrate is growing due to hardware becoming more efficient, perhaps a better metric would be the amount of electricity consumed by mining if we want to measure security of the network.
True, always a new miner with more power or more efficient will bring a bump in the hashing power, and as we know antminer have these new s17 miners with really big power. I think the hash bump comes more from the new miners than from the bitcoin price and markets.
Last few weeks, we experienced breaking everytime the all-time high of Bitcoin Hash rate, which is extemely important for Bitcoin, although we still not on new all-time high price but achieving it first on the Hash rate, is something a good sign.
Hashrate can't grow as fast as the price, it takes time to manufacture new hardware, and hardware producers won't necessarily start making more asics just because the price is growing - it can be risky to them if the price falls before they can sell them, it's easier to just raise their prices, which they did.
Also, hashrate is growing due to hardware becoming more efficient, perhaps a better metric would be the amount of electricity consumed by mining if we want to measure security of the network.
It looks like people are getting ready for the halving and another bull market that will surely follow. You can see youtuber miners also upgrade their systems like https://www.youtube.com/watch?v=SmCVxj_Mslw
I'm very happy that the predicted miner capitulation did not happen. People were predicting BTC to go below 6k level which is the point where some miners are barely making money and 5k is sustainable only by the cheapest Chinese power. Miners defended this level and managed to exhaust sellers enough for the price to return to normal levels. I'm looking forward to 10k in a few months.
I'm very happy that the predicted miner capitulation did not happen. People were predicting BTC to go below 6k level which is the point where some miners are barely making money and 5k is sustainable only by the cheapest Chinese power. Miners defended this level and managed to exhaust sellers enough for the price to return to normal levels. I'm looking forward to 10k in a few months.
I believe the larger mining farms are retiring some of the older Antminers and replacing them with much more powerful S17's
This will take some time and likely we'll continue to see increased hash as they come online.
This will take some time and likely we'll continue to see increased hash as they come online.
as long as we dont see a 90exahash bottom again we should be in for some promising good new price supports
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