Bitcoin has just halved for the third time! A snaphot of various metrics!

[mariah.sadio]

It will be intresting to see hashrate after this. Mining is unprofitable right now

[wingfield_crypto]

I think we need several months before we can see the impact of halving just like the last time I'm very positive that things will be better for us this year even though we are in the middle of the pandemic, it's hard to make a prediction because of the situation we are in, I just take it as it comes with the belief that things will be better.

Things would have improved if not half of the BTC, regardless of whether or not there is a pandemic. If we analyze a little the BTC charts, we will see sudden price increases of the currency. This is because whales invest when the price is lower, to sell when the price reaches a new target. Indeed, halving the BTC can contribute to the price increase, but the so-called "whales" are decisive.

[Casdinyard]

It will be intresting to see hashrate after this. Mining is unprofitable right now

Hash rate now is dropping down of course there are miners who are not willing to mine with their expenses is higher than what they are possible to gain with mining, but it is not that unprofitable for bigger mining farms stuffs are pretty just the same for them. Nothing is interesting with the hash rate every after halving, it is expected to go down at a certain level then go back after a while. As far as I remember from the past halving there is a 20% to 30% of decrease in hash rate after it takes place, nothing interesting looking natural to me.

[justdimin]

Honestly it is probably just a trolling attempt and nothing else, I do not think that there is anything major going on right now nor will be on third of October as far as we know at all. So, this is probably just a thing that someone wrote to make some jokes and that is about it.

If I had the chance to put a message in the block I would totally put one as well, wouldn't be this much tin foil hat or something, but would have been something that is quite the funny type of message as well, to make people who see it laugh at least (or at least fail to make them laugh). So this is just another thing in the ledger, you can put messages and there has been probably millions of messages so far in the blocks, this could be inside an important block but still doesn't mean anything.

[charlesmichel1]

Halving was expected to be unprecedented event. Now almost a week passed after it, price is still at ~9,8k. Will it rise in a short term?

[fillippone]

Bitcoin has just adjusted his difficulty reaching a new All Time High:

The 318th Bitcoin mining period has started with block 639,072. ⛏ New difficulty: 17,345,948,872,516 (+9.89%)

https://twitter.com/btcblockbot/status/1282644004681723905?s=21

💥Boom .. all time high bitcoin difficulty: 17345948872516.06

https://twitter.com/100trillionusd/status/1282644295586131968?s=21

Having an ATH in difficulty so close to the halving is a very bullish feature, as it allows us to get rid of “miner capitulation” or “difficultY death spiral” FUD we heard in the past months.

[fillippone]

Turns out that was a bullish signal: Bitcoin is now higher.
Well, good news keep coming: a new ATH in hashpower.



Miners started a weapon race right before the halving, and this is paying out now: only the most efficient miners are still in the race taking their slice of a very competitive market.

[fillippone]

A little update after three months.
A brief recognition on mining industry: it's has been an hell of a battle,, but at the end some winner is surfacing!

Difficulty exploded after the halving.



The difficulty went up 23% after the halving. This means an equal reduction in the profitability of all mining hardware in production at the date of the halving.
Yet the "arms race" has not stopped, miners are still upgrading their equipment , hence the difficulty has increased continuously (apart from the last decline due to the monsoon season in Sichuan).

Notwithstanding all this capital expenditures, bitcoin price rally  repaid the miners of their substantial investments in hardware and today their revenues are reversed to pre-halving levels.

#Bitcoin  miner revenue is back at pre-halving levels.

Chart: https://studio.glassnode.com/metrics?a=BTC&c=usd&m=mining.RevenueSum

https://twitter.com/glassnode/status/1329150613255573505?s=20


This just makes us imagine how competitive this industry has become. Long gone are the mining at home, not it is proper industrial operation and logistic.
And when someone complains about bitcoin's energy consumption, it can be argued that energy consumption is as low as possible, and if bitcoin didn't exist all that energy would be wasted in less productive ways, since any industry other than bitcoin mining is less energy efficient!

[usekevin]

A little update after three months.
A brief recognition on mining industry: it's has been an hell of a battle,, but at the end some winner is surfacing!

Difficulty exploded after the halving.



The difficulty went up 23% after the halving. This means an equal reduction in the profitability of all mining hardware in production at the date of the halving.
Yet the "arms race" has not stopped, miners are still upgrading their equipment , hence the difficulty has increased continuously (apart from the last decline due to the monsoon season in Sichuan).

Notwithstanding all this capital expenditures, bitcoin price rally  repaid the miners of their substantial investments in hardware and today their revenues are reversed to pre-halving levels.

#Bitcoin  miner revenue is back at pre-halving levels.

Chart: https://studio.glassnode.com/metrics?a=BTC&c=usd&m=mining.RevenueSum

https://twitter.com/glassnode/status/1329150613255573505?s=20


This just makes us imagine how competitive this industry has become. Long gone are the mining at home, not it is proper industrial operation and logistic.
And when someone complains about bitcoin's energy consumption, it can be argued that energy consumption is as low as possible, and if bitcoin didn't exist all that energy would be wasted in less productive ways, since any industry other than bitcoin mining is less energy efficient!

Now the price of bitcoin had reached a new high in the price.It had crossed a value of 18600$ and it was not expected by the people in a pandemic situation. As we know the price of bitcoin will increase only if the demand had increased in the market.So many had interested in buying bitcoin in this pandemic was a surprise one.

[CarnagexD]

A little update after three months.
A brief recognition on mining industry: it's has been an hell of a battle,, but at the end some winner is surfacing!

Difficulty exploded after the halving.



The difficulty went up 23% after the halving. This means an equal reduction in the profitability of all mining hardware in production at the date of the halving.
Yet the "arms race" has not stopped, miners are still upgrading their equipment , hence the difficulty has increased continuously (apart from the last decline due to the monsoon season in Sichuan).

Notwithstanding all this capital expenditures, bitcoin price rally  repaid the miners of their substantial investments in hardware and today their revenues are reversed to pre-halving levels.

#Bitcoin  miner revenue is back at pre-halving levels.

Chart: https://studio.glassnode.com/metrics?a=BTC&c=usd&m=mining.RevenueSum

https://twitter.com/glassnode/status/1329150613255573505?s=20


This just makes us imagine how competitive this industry has become. Long gone are the mining at home, not it is proper industrial operation and logistic.
And when someone complains about bitcoin's energy consumption, it can be argued that energy consumption is as low as possible, and if bitcoin didn't exist all that energy would be wasted in less productive ways, since any industry other than bitcoin mining is less energy efficient!

Now the price of bitcoin had reached a new high in the price.It had crossed a value of 18600$ and it was not expected by the people in a pandemic situation. As we know the price of bitcoin will increase only if the demand had increased in the market.So many had interested in buying bitcoin in this pandemic was a surprise one.

Quite scary if you ask me. If this continues, there will be more problems in the future acquiring bitcoins than it is today. What's more, corporations are also riding the bitciin wave and have owned a significant amount of it in a very small period of time. Quite saddening to find out that a coin meant to be made for the people is being abused by the 1% of the richest. Let's just hope for the best I guess.

[wiss19]

A little update after three months.
A brief recognition on mining industry: it's has been an hell of a battle,, but at the end some winner is surfacing!

Difficulty exploded after the halving.

As expected the difficulty in mining Bitcoin increased and the rewards halved. And also that means the level at which coins will be supplied will be reduced and demand will get passed the supply and the price will increase to fit in with that high level of demand. The miners are still going to be able to recover what they are investing in buying new equipment. Some of them complained at the start due to the earlier drop, now that price is up $18.9k they will be happy about it.

There are some that even quit from mining after Halving, because they thought it was going to be a waste of their time buying new miners, because their old miner couldn’t keep up.

[fillippone]

<...>
There are some that even quit from mining after Halving, because they thought it was going to be a waste of their time buying new miners, because their old miner couldn’t keep up.

This is the “arms race” I was referring to. Miners have to fight for the reduced supply. Biggest miners with lower marginal costs (due to scale economy and/or lower energy prices) kicked less efficient miners out of the market. And the race hasn’t stopped, apparently.

[jaysabi]

And when someone complains about bitcoin's energy consumption, it can be argued that energy consumption is as low as possible, and if bitcoin didn't exist all that energy would be wasted in less productive ways, since any industry other than bitcoin mining is less energy efficient!

I don't think this bit is true. If Bitcoin didn't exist, the energy wouldn't be used for something else, there would just be less energy consumed and less energy generated as a result of the decrease in demand. Whether or not you buy the argument that generating bitcoin is a waste of energy is one thing. But there would definitely be less energy consumed without bitcoin.

[SquallLeonhart]

The halving has always been the greatest thing to happen to bitcoin and will always stay that way. Think about it, we are talking about coins that didn't existed yesterday that gets mined and suddenly they exist today, 900 new bitcoins everyday that is put to market (or at least hold but calculated into the price) that is here that wasn't here yesterday. That is 17 million dollars worth of bitcoin printed everyday. And that is after the halving, before the halving it was 1800 bitcoins mined everyday, which is over 34 million dollars coming to market every single day.

In order to stay at the same price we either had to convince miners not to sell or we had to find 34 million dollars more buying than selling to even just break even. The more halving happens the better it will be for the price for sure.