Every single move higher, beaten back down.
Until not...
That data ONLY goes to February 2021... and February 2021, it looks as if the mining share of China may well have been estimated to have been ONLY a bit above 40% at that time.
So seems that a lot of that mining power that had been in China in 2020 and even into early 2021, seems to have already been migrating out of China, and is not there as much by February 2021 (of course, 40% is still a decent amount).. but sure, we might have to see how the data evolves in terms of how the mining share numbers look when we get reports from the last 3-4 months.. and sure it would be interesting to fill in the gap of data including March 2021 and thereafter - even though we really had seen the largest of mining hashrate drops in June 2021 with hashrate drops of -16%, -5.3% and -27% in the past three respective difficulty periods..
Can see those historical difficulty drops,
here on btc.com, and the current hash rate of about an estimated
-4.5% drop approximately, here.. even though in the past several days the hashrate seems to be going back up quite a bit.. so that difficulty drop might not be so great this particular 2-week period, which is about to end and due to retarget in about 17.5 hours or so, as I type.. this post.
Edited: Added the links to specify a bit more on the numbers that I had initially outlined in this post. Good catch Mr. JJG!
Yeah.. thanks Homer... now there are ONLY 7 hours left in the difficulty period adjustment (as I type this post) and is looking like about -4.4% - ish... so makes it seem that bitcoin is doing its job in terms of the passage of time and the ongoing difficulty adjustments to seem to make it a bit more difficult for an attack to be going on.. but surely, we cannot really rest assured to completely negate such possibility of some kind of attack on the hashing power... but if mining is able to pick up in other areas (outside of China), it would be more difficult to be able to successfully pull off an attack on bitcoin or to sustain it from a Chinese angle - if such a thing were even part of any possible contemplated plan.....
Also, think about the matter of China's somewhat mystery coin (called a CBDC, right?). I wonder if their CBDC is going to run the same mining algorithm as bitcoin or some other similar mining algorithm that would make the bitcoin miners effective on their CBDC and/or provide an incentive for China to want to co-opt some of that mining capacity/equipment? That remains a part that we still need to see play out in the coming months and I am questioning if there might be some uncertainty in the bitcoin market regarding the possible direction of that - even though for sure bitcoin's price dynamics remains multi-causal, but if there is uncertainty in aspects of the market (including short-term price direction shenanigans.. even if not going to be successful), then sometimes it can take additional time for the uncertainty to reverse.. such as two more weeks
tm.
I agree with BoA on this one! Buying a single bitcoin most certainly will be worth about 60 cars one day!
It's worth about 60 of my car right now.
Whoaza......!!!!!!
You need an immediate and irreversible car upgrade Richie.. or change your name by putting a "NOT" in front of it.
By the way
(this is an after the fact edit), before I became richie.. I used to buy cars that were around 3-5 years old.. so most of the depreciation was out of them.. and then maybe drive them until they were 10 or more years old... I have a relative who likes to drive cars until they seem to be in the ground and then repair himself.. but I found it quite strange that he had wanted to upgrade to a brand new SUV.. and then he traded in his maybe around 10-year old car (that had no real problems with it - except he just wanted a BIGGER car - and probably 4-wheel drive, I think), but kept his stupid-ass beater car of about 25 years old.. so I thought it was a bit ridiculous that he would not have gotten rid of the 25-year old car and kept the 10-year old car.. but peeps gonna peep.. cannot really stop them from the sometimes seemingly weird logic of their own lil selfies.
Q. what's gonna come first?1. 40k
2. 20k
See above
(top of the page)------ there's already a poll on that topic... largely.