The halving is here, are you ready?
I was checking some random things, when suddenly...
OMG, I'M not ready yet, I still need to accumulate some more! It's unbelievable that today is ''the day''.
Many months waiting for this event, and wondering wondering about the price, Hive (formerly Steem),and the overall industry as a whole...
I also checked some other technical things, like the last difficulty adjustments & the current hashrate levels.
This chart represents the hashrate levels since December 2017, the last price peak at ~20K/BTC. Incredible to think that we've been crushing it in terms of 'securing the network' regarding new computational power joining the network.
The hashrate increased a ~300% since and we're beating ATH's every other week.
It's also very interesting to observe the latest difficulty adjustments:
In case that you don't know what that means; the Bitcoin network automatically adjusts the difficulty of their 'puzzle' every 2016 blocks to keep the block time always close to ~10 min/block.
If new miners join the network the difficulty increases. In the other hand, if the price decreases very fast & existing miners shut down their machines because they can't handle the price decrease in ROI terms, the algorythm reduces the difficulty in order to keep 'survivors' mining the blocks at the well-known ~10min timeframe.
We're now witnessing a dump, but as I stated at this post, I believe that one (the dump) will be short lived.
Hope you enjoyed your Sunday.
Thanks for reading, as always :)
Posted Using LeoFinance
