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Author Topic: Hash rate increased by 30% this week.  (Read 580 times)
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July 08, 2017, 03:08:24 PM
 #1

This author feels price rise is iminent. https://www.cryptocoinsnews.com/bitcoin-price-breakout-imminent-hashrate-jumps-30/
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July 08, 2017, 03:48:46 PM
 #2

I agree that Hash rate increase can lead to increased investor confidence in the currency which would increase price, but they can also drive miners on the edge of profitability out of mining and potentially even Bitcoin, decreasing the price. (less participants in a market generally leads to price decreases, though not always). So, I would say lets wait and see what happens.

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July 08, 2017, 04:59:30 PM
 #3

Price breakout is quite imminent right now, many rounds of correction after a huge 100% gain seems over with strong support level at $2500. I am expecting at-least $3500 before august and than price might go sideways.

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July 08, 2017, 05:05:17 PM
 #4

Price breakout is quite imminent right now, many rounds of correction after a huge 100% gain seems over with strong support level at $2500. I am expecting at-least $3500 before august and than price might go sideways.

Yes.. the next major movement will be in August. Until then, the scene will be very dull without much volatility. But there is always a possibility of a split occurring. If that happens, then the support level at $2,500 may not hold.

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July 08, 2017, 05:30:07 PM
 #5

Historically substantive increases in hash rate predicted rises in price by a few months. But right now this could also be due to the UASF/segwit2x drama and specific parties getting ready for "war".

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July 08, 2017, 05:43:52 PM
 #6

Historically substantive increases in hash rate predicted rises in price by a few months. But right now this could also be due to the UASF/segwit2x drama and specific parties getting ready for "war".
There won't be any war. Every major mining pool agreed that SegWit2x is the only viable scaling strategy among proposed upgrades.
SegWit2x is not signalled by 87% of miners, fighting with consensus at this point would be a totally idiotic idea.
Why would someone want to do this, the price of Bitcoin after the upgrade will high enough to compensate for lowered tx fees.


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July 08, 2017, 05:52:51 PM
 #7

There won't be any war. Every major mining pool agreed that SegWit2x is the only viable scaling strategy among proposed upgrades.

Why would someone want to do this, the price of Bitcoin after the upgrade will high enough to compensate for lowered tx fees.
I think there is still small group of people against segwit2x and they have announced that they will start mining bitcoin clone with all their hashpower to threaten bitcoin network. However I don't think they will do so in reality when segwit2x will be activated.

Mining bitcoin is always profitable if miners are not from country where electricity cost is really high. Price of bitcoin have increased significantly recently so it is even more profitable than before.

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July 08, 2017, 07:11:40 PM
 #8

There won't be any war. Every major mining pool agreed that SegWit2x is the only viable scaling strategy among proposed upgrades.

Why would someone want to do this, the price of Bitcoin after the upgrade will high enough to compensate for lowered tx fees.
I think there is still small group of people against segwit2x and they have announced that they will start mining bitcoin clone with all their hashpower to threaten bitcoin network. However I don't think they will do so in reality when segwit2x will be activated.

Mining bitcoin is always profitable if miners are not from country where electricity cost is really high. Price of bitcoin have increased significantly recently so it is even more profitable than before.
So there will be two bitcoins more like ethereum and ethereum classic?
Although the other chain will be having pretty less power, but it would still be more than other crypto currencies and I believe that mining on both the chains would still remain profitable.

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July 08, 2017, 07:21:46 PM
 #9

Historically substantive increases in hash rate predicted rises in price by a few months. But right now this could also be due to the UASF/segwit2x drama and specific parties getting ready for "war".
There won't be any war. Every major mining pool agreed that SegWit2x is the only viable scaling strategy among proposed upgrades.
SegWit2x is not signalled by 87% of miners, fighting with consensus at this point would be a totally idiotic idea.
Why would someone want to do this, the price of Bitcoin after the upgrade will high enough to compensate for lowered tx fees.

No War ? Be ready then... Segwit2x code is a joke. Who will runs it at this point is stupid.
Shouldn't we listen to Bitcoin developers to see what they think ? https://en.bitcoin.it/wiki/Segwit_support

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July 08, 2017, 07:28:14 PM
 #10

So there will be two bitcoins more like ethereum and ethereum classic?
Although the other chain will be having pretty less power, but it would still be more than other crypto currencies and I believe that mining on both the chains would still remain profitable.
Yes if there will be hard fork

No one can predict what will be the price of other chain but it will have some value for sure if there will be few miners mining them.

Both chains will remain profitable  Roll Eyes

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July 08, 2017, 07:31:36 PM
 #11





Out of the range ... for the last graph.



They really don't want SegWit ...
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July 08, 2017, 07:35:52 PM
 #12

Why would someone want to do this, the price of Bitcoin after the upgrade will high enough to compensate for lowered tx fees.

Because Asicboost is used to boost transactions of exchange by contract.
Compact block have already decrease the chance of win block ... but SegWit shutdown this definitly.
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July 08, 2017, 07:39:05 PM
 #13

There won't be any war.

We in a war since the day Bitcoin Unlimited existed.

It is a war between the bitcoin users and bitmain corp. Segwit2x don't have %87 support at all. Not from the actual bitcoin users at least. That's fake news. Soon those "supporters" will also realize their mistake and that pseudo-support will decrease to nothing.

#UASF
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July 08, 2017, 07:47:01 PM
 #14

Like with XT and Classic episode.
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July 09, 2017, 04:33:08 PM
 #15

Price breakout is quite imminent right now, many rounds of correction after a huge 100% gain seems over with strong support level at $2500. I am expecting at-least $3500 before august and than price might go sideways.

Yes.. the next major movement will be in August. Until then, the scene will be very dull without much volatility. But there is always a possibility of a split occurring. If that happens, then the support level at $2,500 may not hold.
I agree, everyone right now is waiting for what it may happen at august first, so don not expect too much movement before that, but I think after that day we are going to see very wild swings in price, the ones we have not seen in a long time, since it seems the scaling debate is now going to scale into a full war.



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