Panic! Yesterday’s copts, many cryptonieuwswebsites that the bitcoin hash rate by up to thirty or forty per cent has gone down. Okay, so moving forward, as we wrote recently about this. But is it really? Well, the short answer is: no, you don’t have to.
The dates of the blockchain.com let it be a “flash crash” of the bitcoin hash rate
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The bitcoin hash rate
The hash rate-shows the number of calculations per second, all of the computers at the same time on the bitcoin network. This is a number that will give you an indication of how strong and secure network that is kept in place by so-called miners. The higher the hash rate, the more difficult it will be to have the blockchain of bitcoin is to hack it.
The hash rate has been since december of 2018, a growing trend. More and more miners join the bitcoin network. For a period of time, even for the highest hash rate ever recorded. But I was then all of a sudden, the news is that the hash rate is forty percent of the population was reduced.
The wildest theories were circulating. The Chinese government has taken measures in order to miners to stop it? It Is a large, well-known miningorganisatie will be killed. And knew of miners that there is a price drop was going to happen? There has been lots of speculation, but the reason is not known.
The hash rate is an estimate
It is important to know that the numbers are never an exact representation of the actual hash rate of the network. The charts that you see often, an estimate of the total computational power on the network. Christopher Bendiksen, senior researcher at the CoinShares, submit it on Twitter from:
“The bitcoin hash rate is not constant. This figure is estimated on the basis of the time interval between the transactieblokken. These times are based on a Poissonverdeling (like a probability). When the blocks are slow to be detected is an estimate of the hash rate considerably down
One of the other Tweeter shows that, indeed, there had been slow of the blocks:
I log in, the estimated network hash rate from my node at 5-minute intervals, and don’t see anything out of the ordinary.
Lowest estimated was ~66 UM/s, but it appears as though we just had a few slow blocks, and the (ex): 596213, 596250, 596267, etc.) and that snowballed in the estimate downward. pic.twitter.com/ae4EHExBNO
— Storms (@austorms September 24, 2019
The average chart will give you an idea
That is, the hash rate is an estimate and is also good to be back in the chart at the top of this article. The hash rate is bouncing up and down. Hence, you might want to take a closer look at the graph, that is, the seven-day average shows. This is a graph that is less sensitive to random fluctuations in:
Week-long average of the hash rate of the blockchain.com
You will notice that the hash rate since the peak year of something’s gone down, but it will be much less than forty percent of the time. In other words, there is nothing in his hand.