Cryptocurrency

Bitcoin due to uncertainty before the From?

The Bitcoin Hashrate currently has one of the largest thefts in history. The BTC Hashrate has fallen, according to the data of blockchain.com a maximum of 136,2 EH/s to the current to 75.7 u/s. This is a drop of approx. 44,4% within a single month. Therefore, we ask ourselves the question:Must we make now to the safety of BTC to Worry about? How will react the Bitcoin exchange rate and why the Hashrate is broke so heavily?

Bitcoin Hashrate is based on estimates

The current world is in the midst of a financial crisis and Bitcoin was not left unscathed. A few weeks ago, Bitcoin has experienced one of the largest price drops in its history. But in the meantime was able to recover the distributed Asset of the turbulence and the panic in the markets. While the rate is rising again, slowly, seems to be the Bitcoin Hashrate to continue to suffer.In order to understand the data on the various Bitcoin Blockchain Explorers, let’s look at first how the Hashrate sits at all together. The Bitcoin Hashrate is only an estimate, which can be calculated on the Basis of the current difficulty, the theoretical average time of 10 minutes and the actual time required to find a Block. All these three components we can understand transparent. Variable is in this case only the actually required time. From these three components, the estimate of the underlying performance of the network and the Hashrate is calculated in turn.For this reason, the information from the Blockchain Explorer are different to the Blockchain Explorer. The Bitcoin Hashrate of blockchain.com shows comparatively a very low hash rate of 75.7 U/s on the daily chart.We jump in the Chart on the 7-day average, we can see that the hash rate has leveled off in the last few days at approx. 95 EH/s. According to the data of blockchain.com the maximum Hashrate that was ever achieved was 125 U/s. so it would be currently a slump of 24%.You are looking for a suitable Portfolio Tracker also makes your taxes? Then you should definitely take a look at Accointing. Portfolio Tracking, optimization, and taxation are made easy here. Get the Maximum in your tax Declaration. Sign up for free and 10% discount save!

Bitcoin Difficulty is keeping the Balance

At this point it is perhaps also interesting to note how the Difficulty adjusts. Reminder: the Difficulty is the difficulty of finding a Block. In the case of Bitcoin, the Difficulty that governs a Block in average is found every 10 minutes. This means that you could infinitely put a lot of energy in the Mining and yet on average only every 10 minutes a Block is found. This is a natural mechanism in the BTC network that adapts to the external conditions again and again. The adaptation itself takes place every 2016 blocks instead of (approx. every 2 weeks). The adjustment itself is done by an adjustment of the difficulty of the underlying mathematical problem, which needs to be solved.So, if the Bitcoin hash rate drops suddenly, then the rest of the miners to mines still of the same Difficulty more. Thus, be found up to the next Difficulty adjustment, the blocks will be slower. It deviates from the 10 minutes to the top. Today, the adaptation finally came. The Difficulty has been corrected to 16% down. This not only simplifies the Mining for the existing miners, but also motivates new Miner your Hardware to turn on.Now follow the Bitcoin price, the Hashrate of the break-in? No, because the Hashrate around, always follows the course and not otherwise. It is a Combination of the respective BTC price, the Hashrate and the Difficulty. The game theory behind it is awesome. The network adjusts itself and provides enough Motivation to protect the network is sufficient. The more Hashrate, the more secure the network is. Bitcoin is now uncertain due to the strong Hashrate-break-in?

Payment network still extremely safe

To get a sense of whether the network is safe or unsafe, we need only look back to December 2017. The current Bitcoin price all time high of 20,000 USD. The Hashrate was 14 U/s. So, in about 14% of the current value. The network was insecure? There were increasingly Attempts to take over the network? The Attempts were successful? All of these questions can be answered with a clear “no”.Much more logical would it be to say currently that the Bitcoin could increase its security since the end of 2017, nearly 7-fold. This means that we still have a lot of air down until you question about the safety at all just a thought. Also, the upcoming Bitcoin Halving will not change the basic safety of anything. Even if we have to expect a drop of another 50% of the Hashrate to. We still have a 3-4x as high security as the end of 2017.Bitcoin savings plan: there’s Always the question after a good Investment is made strategy for BTC. With the help of the Cost Average effect and minimize you to sleep your risk, can better and benefit long term from the long-term development of Bitcoin and co. – it’s that Simple! As a Bitcoin savings plan works.How is your opinion of the Bitcoin price in the next few days? Will drop the BTC Hashrate more? Come on in to our Telegram Chat and talk with the experts and the Community!
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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.