it's literally dropping
BTC Hash Rate
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death spiral incoming
thats weird because i'm literally dumping a load of diarrhea on your fat ugly moms chest right now
This is worrying. If it drops too fast the difficulty adjustment may never happen
An actual good post on biz. This must be capitulation.
Shut the fuck up brainlet adults are talking
that would require a drop below $1000 in the next few days
You got a log scale of that chart? For scientific purposes.
Under 3000 and it's dead.
I read somewhere that miners that mine using peak renewable power (essentially free electricity) will shutdown below $900.
They only mine intermittently however
it doesn't have to shut down completely. If the hash power slips too far the time between blocks will grow too long and people will become impatient and panic sell.
Bitcoin has a built-in panic circuit, because few available blocks would be 100% full. With $100 fees not many people are going to be able to sell.
how will they sell if they can't get their btc to the exchanges?
price isn't the only variable as hash is be directed to the bch war at a loss
Kek, true. But it would be the final nail in the coffin for bitcoin. Fees that high will scare people away from it forever
kek
>Fees that high will scare people away from it forever
Fees were already that high in December.
Bitcoin's difficulty adjustment is a glaring security hole, but core is so afraid of hard forks they are never going to fix it. No other coin can die in such a way.
Explain to a brainlet why this is bad. Doesn't it mean miners are selling and quitting mining? Doesn't that mean lower supply?
>Fees were already that high in December.
Yeah and it precipitated a huge amount of criticism toward bitcoin. Lightning and liquid were supposed to fill in the gaps of the scaling problem. If the same problem arises it will cement that bitcoin cannot scale without increasing the blocksize
It really is a good thing nobody uses it to actually buy things
if there's no miners how are you going to send your btc to coinbase brainlet
That's how it works? The miners power the transfers? Wow didn't know that, and I bought at $9k and sold at bottom $4300 so go figure...
Of course the miners power the transfers, that's what allows users to have anonymous trades
>That's how it works? The miners power the transfers?
user...Why did you invest in something without understanding the basic fundamentals?
i know we're not in capitulation yet cause brainlets like this are still in crypto
Bitcoin isn't anonymous. In fact, the principle it operates on is the exact opposite of that.
>Bitcoin has a built-in panic circuit
No it doesn't. That's BCash.
I rent servers with btc.
oh fuck what does this mean now what is going to happen?
DEATH SPIRAL SELL EVERYTHING NOW
You're retarded, that will never happen
I'm a time traveller
>
you're a giant faggot
Of course it it. Blame the cashies.
It is completely anonymous if you buy & sell directly from & to someone or a bitcoin atm.
Find it here: blockchain.com
It publicly marks every single transfer and reconfirm with every other copy of the total network that it happened.
hashrate bubble popping
Wouldn't a Bitcoin mixer suffice?