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[SapphireSpire]

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[CryptoBry]

Miners, get your hashrate up and increase the price!

I am hoping it is as simple as that, just raising the hashrate can mean that the price of Bitcoin will also be adjusting itself. The thing is that no matter how high the hashrate if the market is still lukewarm to Bitcoin then the price will be under the influence of the bears. Market manipulators do not care about the hashrate, they are more concerned if they can pull off their magical wand and move the market the way they wanted to. This is all business here, nothing more nothing less. However, I really love your very simple computation.

[Fatunad]

It does really work that way?
If price depends on the hashrate then there should be a lot of people knows where the price is going and a lot of people do not lost their investments due to the unpredictable price movement. I really do hope its just that easy to predict the btc price.

[adaseb]

No it doesn't work that way. Usually it's the other way around. The hashrate is determined by the price and not the other way around. 

I think this poster has it confused with some other formula, and that formula takes into account the amount of transactions and active addresses if I recall. And from what I remember we are way above that figure, it was somewhere in the $4500-$5000 range.

[Kemarit]

I don't know, lately I have noticed threads about hashrate=bitcoin price? How about the most basic factors? Supply and Demand? I guess that's the simplest form as to why the price goes down and up. I'm not discounting the fact that hashrate might has a affect, but I doubt that we can simply divide numbers here and come up with the supposedly price of Bitcoin. And the OP is saying that is is over valued? LOL, it just blows my mind.

[Stargazer]

You are wrong here, bitcoin price is not dependent on miners hash rate. If it that easy then every miner would do that to push the Bitcoin price. This price dump can be a manipulation by the whales so that people can sell at low and they can fill their new bags! But it can be calm before the storm. In December, the crypto market may see a very good pump!

[Upgrade00]

During the bear period experienced early this year, the value of Bitcoin plummeted to below $4k. At this point many miners closed down their rigs as it was unprofitable to keep searching for and confirming blocks. And the drop in miners reduced the competition and hence the hash rate, this shows that has rate adjusts to the market value of Bitcoin rather than the reverse.

[marcbitcoins]

All market prices like the stocks and the crypto currency investment will always depend on supply and demand in which for now there are lot of people are preferred to sell their Bitcoin rather than holding it for the long term making the Bitcoin users to continue to diminish.

[wajik-tempe]

Because the real price is:

(current hash rate in EHS) / $0.01

Recent hashrate was 82 EHS, therefore:

82 / $0.01 = $8,200

So even at ~$8,780, it's still a little over-priced.

Miners, get your hashrate up and increase the price!

So, if this calculation is valid. It means the price after the halving will at least doubled from this current price and it's make sense. So, i'm sure it's the buts time to buy bitcoins because the hashrate will doubled right after the halving held. But it will only happen when the demands is still the same just right now. If people are leaving and no investors are interest with bitcoin the price maybe less.

[Juggy777]

Miners, get your hashrate up and increase the price!

How about the most basic factors? Supply and Demand?

Bitcoin prices have always been influenced by supply and demand, and you can check the historical records of bitcoin prices to understand why hashrate is not an important factor in the increase of prices. I believe this is some kind of fud that’s been spread around to confuse the investors, hence I would advise you’ll to do your research and not rely on all statements that are posted here.

[Wexnident]

So, if this calculation is valid. It means the price after the halving will at least doubled from this current price and it's make sense. So, i'm sure it's the buts time to buy bitcoins because the hashrate will doubled right after the halving held. But it will only happen when the demands is still the same just right now. If people are leaving and no investors are interest with bitcoin the price maybe less.

You're already putting your hand in the supply and demand factors of BTC so why are you still including hashrates in it? You've already stated a possible reason for BTC price dump, demand.
Hashrates have never been (or at least, as far as I know) a factor in judging possible market pumps and dumps. Market price fluctuates and changes because of the supply and demand of BTC, and how willing is the market to accept a certain supply for a certain price.

[danherbias07]

What?!! That's it?
Do you mean all those discussion about demands and usage is all bullshit?
Really? I doubt that.  

So what else are we doing here if we cannot even help with the increase in value of bitcoin? We are just puppets of the miners?  
The good thing though is that, you are completely incomplete with what you said.
It lacks the formula of how the price should really be seen.

[NeuroticFish]

What?!! That's it?
Do you mean all those discussion about demands and usage is all bullshit?
Really? I doubt that.  

So what else are we doing here if we cannot even help with the increase in value of bitcoin? We are just puppets of the miners?  
The good thing though is that, you are completely incomplete with what you said.
It lacks the formula of how the price should really be seen.

Of course it's wrong.

The price *should* not go lower than the price price to produce it (but it's not necessarily so).
But what's the price to produce Bitcoin?

Some miners may have already the ROI for equipment. Some miners may have electricity price nearly 0 or may produce their own electricity from renewable sources. What if they already have ROI for that equipment too?
Some miners may hold, some miners may sell at a loss. And some miners may go out of business (or relocate!) because their electricity is too expensive anymore and they have no profit.

And many traders are not miners. There are investors, there are speculators, and the bigger ones may have quite an effect on the price.

So no. OP's equation is oversimplified, hence it's wrong.

[sheenshane]

snip-
Miners, get your hashrate up and increase the price!

Because it has a correlation the when the hashrate goes down also bitcoin price will down. That was explained very well here [1].
It means that the higher the hashrate, the more mining activity and probably the more transactions made and that made Bitcoin price goes up. Of course, the basic factor has also connections or relatively about the demand and the supply.

If the demand will increase, of course, there will be more profit will come and hashing is also profitable for miners. But sometimes miners quitting in mining because it has a small ROI due to the high electricity cost they are going to pay.

[Wysi]

You are wrong here, bitcoin price is not dependent on miners hash rate. If it that easy then every miner would do that to push the Bitcoin price. This price dump can be a manipulation by the whales so that people can sell at low and they can fill their new bags! But it can be calm before the storm. In December, the crypto market may see a very good pump!

Yes there is no way that miners can manipulate the price and I am telling this because I had been mining in the past, even miners depends on whales for price fluctuations in order to sell at high. I really wish your predictions about December's pump comes true as it will change the market perception.

[blckhawk]

I'm not sure whether this is true or not, but I have also read a thread here stating or analysing the correlation between hashrate and Bitcoin's price. Although I think there is something that drives the other, I'm also sure that there are a lot other factors to consider that dictates where the price is going. Recent news, community stance, adoption, current market demand, etc. also affects the price somehow. Maybe it is true when demand isn't going down, but the market is unpredictable, mainly because of the existence of the whales and how fast the price trend changes on a volatile market.

[BitHodler]

The speculative nature of this market makes it pretty much irrelevant what the miners pay in electricity to mine one whole Bitcoin.... traders just follow the chart and trade it as it comes, bearish or bullish.

If miners generate their coins well below the trading rate of Bitcoin and dump them below critical support levels then they are ruining their own market.... traders couldn't care less as they can make money in both directions.

[fabiorem]

Miners are the biggest whales, because they create bitcoin from electrical power. They need to distribute it, hence why the price tanks between the crash and the halving.

[pooya87]

lol. funny post.
you basically took the current price then divided the hashrate by that price to get the ratio and then reversed it to use that ratio as if it is a known thing to compute the price.
i can do the same thing with any other variable you like. i'd say because on June 15, 2017 price reached bottom and it was 878 days ago then price must be $8780 today

[barota]

I am in my opinion ; miners influence prices somewhat, but supply and demand also remain an important factor in influencing prices ;some traders rely on wrong analysis and charts, so some are still selling but as soon they have finished selling and the effect of some whale who control the prices is reduced. We find the opposite. In other words, prices will rise and be stronger