Topic: Bitcoin price falls more people mine?? (Read 409 times)
Though mining is an important part of supply, the new arrivals are only a small proportion of the coins being sold and traded every day. The price action happens on the exchanges and I'm sure some of the people 'in charge' of the price have never gone anywhere near mining.
So i noticed something odd..
The pool hash rate for bitcoin.cz has dramatically increased over the past few days, since the price dropped by almost 30% the pool mining hash rate has increased buy over 3 ph/s which i found about odd.
I then check this https://blockchain.info/charts/hash-rate and saw the the whole network hashing rate has infact sharply increased over the past few days, despite the price falling...
i though that was weird since as bitcoin price drops, so does mining profitability, and a drop in price by 30% is not a small one.
Any ideas?
The pool hash rate for bitcoin.cz has dramatically increased over the past few days, since the price dropped by almost 30% the pool mining hash rate has increased buy over 3 ph/s which i found about odd.
I then check this https://blockchain.info/charts/hash-rate and saw the the whole network hashing rate has infact sharply increased over the past few days, despite the price falling...
i though that was weird since as bitcoin price drops, so does mining profitability, and a drop in price by 30% is not a small one.
Any ideas?
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