Bitcoin mining difficulty hasn't dropped by more than 1% all year!

NewBet

hero member

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Quote from: undertheradar47 on September 27, 2019, 03:49:57 PM

Since 2019 began, mining difficulty has basically been going straight up. No difficulty drop has been larger than 1% this year!

https://www.instagram.com/p/B27UN3eJeu0/

This is a great sign. It's also expected, because we are in a market downturn... And also, Bitcoin dominance has been growing constantly since 2017, and is currently at basically 70%. Considering how many cryptos there are these days, bitcoin's dominance is pretty amazing.

hugeblack

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Bitcoin mining difficulty is a measure of how it difficult to find a hash that will be less than that specified by the system/network. Consequently, fewer miners join the network.
The 1% decline makes no difference and may be due to the current decline in prices. In fact, the mining algorithm seems fairly fair and therefore will not be affected by the small number of miners mining these currencies.

The charts mentioned do not appear correct or compatible with blockchain.com. Huh

goto22

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Quote from: undertheradar47 on September 27, 2019, 03:49:57 PM

Since 2019 began, mining difficulty has basically been going straight up. No difficulty drop has been larger than 1% this year!

https://www.instagram.com/p/B27UN3eJeu0/

And people were worried about a few price drops. There's the proof right there, BTC isn't going anywhere. Although, this was only to be expected considering that halving is coming in, like, 7-8 months, and we ARE talking about Bitcoin, after all.

th3nolo

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Quote from: undertheradar47 on September 27, 2019, 03:49:57 PM

Since 2019 began, mining difficulty has basically been going straight up. No difficulty drop has been larger than 1% this year!

https://www.instagram.com/p/B27UN3eJeu0/

That reminds me of something I have read a long time ago.

Is someone is accumulating bitcoin with bad money AKA as fiat, the price will drive up in terms of fiat.

Is someone is accumulating bitcoin with electricity, the difficulty and the hast rate of the network will rise.

undertheradar47

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Since 2019 began, mining difficulty has basically been going straight up. No difficulty drop has been larger than 1% this year!

https://www.instagram.com/p/B27UN3eJeu0/

Topic: Bitcoin mining difficulty hasn't dropped by more than 1% all year! (Read 145 times)