The Hash Rate in the Bitcoin network reached a new all-time high. Due to the upcoming Halvings, as well as higher courses, more and more miners flock to the market and buy Mining Equipment. Good for Bitcoin: Because that’s the way to win the network, increasing security. A look at bitcoin’s incentive structure.
David-separator
26. June 2019BTC$12.811,00 to throw 12.25%part Facebook Twitter LinkedIn xing mail
anyone Who still has doubts about bitcoin incentive structure, which was recommended, these days, a look at the Hash Rate. Such exorbitant price increases, such as were seen in the last few weeks, have had in the past, the entry of new miners to the result. So it is not surprising that the so-called Hash Rate, so the accumulated computing capacity of the Bitcoin network has reached a new all-time high.
On Tuesday, the 25. In June, the total Hash Rate, therefore, 66 million TH/s. For comparison: During the all-time highs in December 2017, the Hash Rate of the Bitcoin network is “only” about 55 million TH/s. Thus, the computing power in the network is almost 20 percent higher than during the all-time highs – and with a 35 percent lower rate.
For comparison: The development of the Hash Rate in the Bitcoin network in January, 2016.
Difficulty Adjustment as a price driver
The Difficulty Adjustment, you can’t emphasize it often enough, it’s probably the best Dodge in the Design of the crypto-currency no 1. Because higher rates Miner motivate, to bring new devices to the network, in order to participate on possible gains. This is a common market mechanism: Higher demand (i.e., higher rates) triggers a supply-side response. In the case of commodities such as Gold the is similar; increasing the price of gold, boost gold mines in their efforts to mine the precious metal from the earth’s crust, to the increased demand.
This, in turn, increases then the Supply. One speaks of the so-called price elasticity of supply, i.e. the percentage Change of the offer, if the price of a particular Good changes by one percent. This price elasticity of supply is Bitcoin so low as nowhere else. Because of the Difficulty Adjustment in demand can affect changes only on the course. Even, if suddenly ten times more miners would participate in the market, mine never more than 12.5 BTC per ten minutes.
the Hash Rate increases, bitcoin security
With every Bull Run more miners come from the above-mentioned reasons, into the network. But instead of the money supply in Bitcoin-renal network to price inflation, ensure that you only for more security. With each Terahash of computing capacity, the food, the Miner into the network increases, i.e., the immutability of the consensus on transactions. It is, accordingly, a kind of positive feedback loop is artificial, but functional incentives that Bitcoins continue to exist, always more likely to make.
Mining Equipment sold out
So does it also not surprising that the reports of increased demand for Mining Rigs, piling. According to information available to the scene, medium, Coindesk, have great hardware manufacturers, such as Canaan Creative great difficulty, to the ordering volume of Mr.
“is the current Situation of The industry that the stocks have declined and demand is high,” is Steven Mosher of Caanan Creative, one of the largest manufacturer for Mining Equipment quotes.
It looks like a return to the States from 2017, in which the demand was three times the offer.
Steven Mosher
to keep up with the ever-growing need for better products, bring companies like Bitmain or Canaan Creative is always more efficient ASICs on the market. So the new avalon miner of Canaan brings it to the 37 TH/s, with a power consumption of 2.361 watts per hour.
Until October is out of print, the new avalon miner completely.
Now on crypto-currencies to invest: , crypto currencies, buy, sell, or trade – we have selected the best Broker, stock exchanges and certificates: buy Bitcoin | Ether buy | Ripple buy | IOTA buy | Broker comparison
More on the topic:
Bitcoin-Mining-prohibition in Iran: power consumption strong Helium and the IoT: Mining high increased with the own Hotspot Bitcoin Mining Difficulty to all time highs: What you should know must
