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Title: Hash rate might be down but don't worry ! Post by: fiulpro on May 11, 2020, 06:15:02 PM Hello
I do think it is very important to share for the newcomers in the Crypto community. The Halving is approaching and therefore it would be harder for some miners . Small miners usually have to pay very high electricity bills plus there is always a problem with the government . Now Halving is approaching and some small miners who have already calculated that they won't be able to keep with with everything have started shutting down their machines . They already account for 15-30% of the total hash rate and therefore with the approaching Halving this hash rate will decrease and some people might be alarmed. But soon enough the big miners would pick up and therefore after a while it will bounce back . https://cointelegraph.com/news/unprofitable-miners-already-leaving-bitcoin-network-ahead-of-btc-halving/amp (https://cointelegraph.com/news/unprofitable-miners-already-leaving-bitcoin-network-ahead-of-btc-halving/amp) For the people who wants to know more about hash rate: https://www.hashgains.com/wiki/h/what-is-hash-rate (https://www.hashgains.com/wiki/h/what-is-hash-rate) For the people who want to know what is Halving :- https://www.marketwatch.com/story/what-is-the-bitcoin-halving-and-which-day-does-it-happen-2020-05-11 (https://www.marketwatch.com/story/what-is-the-bitcoin-halving-and-which-day-does-it-happen-2020-05-11) People who wants to know the importance of hash rate :- https://thenextweb.com/hardfork/2019/08/05/ugh-this-is-what-bitcoins-hash-rate-means-and-why-it-matters/ (https://thenextweb.com/hardfork/2019/08/05/ugh-this-is-what-bitcoins-hash-rate-means-and-why-it-matters/) I do think if someone is doing transactions that are VERY important one can always wait for 2-3 days if they can , it will bounce back pretty quickly. More or so hash rate does indicate how secure the network is . We are soon going to experience this event therefore let's pray that it is a positive one for the community as a whole. Plus I would like to thank all the small miners for their efforts in keeping the network alive ,I do hope you guys are able to tackle all the hardships and find a way , because it might be hard especially during a pandemic . |