How do you explain bitcoin hashrate going up while price goes down?

[Anonymous No.10019210]

What do you make of this? I am confused as to why the bitcoin hashrate is growing so high as price has been crashing. Can this tell us something about price predictions in the future or not?

[Anonymous No.10019241]

>who is jihan

[Anonymous No.10019256]

Because average market cap in 2-4 years will be insane regardless of day traders

[Anonymous No.10019257]

>>10019210
Moore's Law

[Anonymous No.10019269]

>>10019256
What do you mean by average market cap exactly?

[Anonymous No.10019278]

>>10019210
As mining becomes more unprofitable for small miners, one can expect that some will use btc assets to either grow, or keep at a black 0 hoping for the price to grow. Both puts pressure on the price. Should normalize as soon as either the small miners are out of the business or have grown to be able to compete

[Anonymous No.10019297]

jihan tries to make as much money as he can before this goes to 0

[Anonymous No.10019298]

>>10019210
it means someone is producing new more efficient miners.

[Anonymous No.10019301]

>>10019210
Because people want to mine more Bitcoin when they know the price can only go up??

[Anonymous No.10019308]

>>10019257
Also, let's assume you're a miner and the price is dropping. If you need the same amount of money in order to run your server farm then you need MORE SERVERS.

It's sort of a mirror universe version of what happens to actual farmers when prices drop. They produce more, flooding the market and (quite by accident) dropping prices further. In this case, the bitcoin farmers flood the market, increasing the hash rate, and (quite by accident) decreasing their own rewards per watt.

[Anonymous No.10019311]

>>10019301
Except the price has been plummeting, not going up. Are you suggesting that it's a forgone conclusion the BTC price will go way up in the future and the miners know this somehow?

[Anonymous No.10019314]

Gold fever

[Anonymous No.10019332]

>>10019314
This

[Anonymous No.10019333]

>>10019311
>Are you suggesting that it's a forgone conclusion the BTC price will go way up in the future and the miners know this somehow?

Yes.

[Anonymous No.10019336]

>>10019269
average market cap in time

[Anonymous No.10019342]

>>10019241
Son of allah, brother of Hercules

[Anonymous No.10019364]

>>10019210
It's a Bitmain strategy, they are preparing for the killshot on BTC and complete transfer to BCH. Pretty simple, keep the Antminer S11s private for now, skyrocket the BTC difficulty as price continues to drop. Soon both BTC and BCH price are substantially lower and books are thin, pump the shit out of BCH and watch as all the miners have no other choice if they want to profit than to swap to BCH. Then they'll release the S11 to the public.

[Anonymous No.10019400]

>>10019210
12.5 bitcoins is still more than $75,000 every ten minutes.

[Anonymous No.10019605]

>>10019333
Checked. So what do you think will be the price of BTC after the next bull run, and when do you think that will be?

[Anonymous No.10019643]

>>10019364
BCH & ELA
Half of Jihans hash power is being dedicated to mining ELA once it starts in December. Merged mining, however.

[Anonymous No.10019657]

>>10019333

lol, absolute delusion. Crypto is so fucking dead it's not funny. We've had all our money squeezed out of us and sucked back into fiat, there is no long term value in muh bitcoin.

[Anonymous No.10019669]

>>10019657
HOW CAN YOU POSSIBLY REFUTE WHAT IS REAL, AND WHAT IS REALLY HAPPENING. HOW ARE YOU GONNA DO IT. FUCKING DO IT. GO AHEAD AND TELL ME THAT ONCE IT STOPS BECOMING PROFITABLE (WHICH IT ALREADY IS UNLESS YOU'RE MINING NEXT TO A FUCKING NATURAL GAS PLANT), THE HASH RATE WILL TANK. TELL ME ABOUT HOW MINERS DON'T CONTROL MOST BITCOIN, AND HAVE PLENTY OF RESERVE FIAT THAT THEY ARE CONTROLLING THE MARKETS WITH. TELL ME ABOUT HOW IT'S GONNA GO TO $3K JUST BECAUSE YOU PANIC SOLD AT THE BOTTOM OF THE LAST DIP, BOUGHT THE TOP, AND SOLD THE BOTTOM AGAIN. TELL ME. TELL ME ABOUT HOW MINERS ARE GONNA CAVE AND GIVE AWAY MONEY, AND HOW THEY AREN'T GOING TO TAKE ADVANTAGE OF THE FACT THAT THEY ARE THE EXCEPTION IN ELECTRICITY COSTS, AND NOT THE ORDINARY. TELL ME ALL ABOUT HOW THEY'RE GOING TO GIVE AWAY MONEY AND PUT THEMSELVES IN A VULNERABLE POSITION, YOU DUMB FUCK. TELL ME THAT WHAT I AM SEEING ON THAT CHART IS A FUCKING ILLUSION. TELL ME THAT I AM JUST FUCKING DAYDREAMING.

[Anonymous No.10019684]

>>10019210

if you have been tracking this, you will learn that a lot of BIG mining operations have been switching on in the past 4 months especially.

[Anonymous No.10019707]

>>10019669
I like this guy.

[Anonymous No.10019717]

>>10019669
All commodities go through this cycle. Take a look, for example, at the current fracking market. These companies are losing money on every well they drill, taking out bigger loans and bilking new investors, under the promise that the oil price is going to go up and save them all.

Except all these new wells DRIVES THE PRICE DOWN.

It's the best decision for each individual farmer, or oil company, or coin miner... and terrible for the market as a whole.

[Anonymous No.10019752]

>>10019717
BITCOIN IS NOT A COMMODITY. GET THAT THROUGH YOUR SKULL , THE COINS APPEAR SOMEWHERE ON PLANET EVERY 10 MINUTES NO MATTER WHO MINES OR NOT MINES.

[Anonymous No.10019753]

>>10019669
>69
Checked

[Anonymous No.10019772]

>>10019669
BTFO

[Anonymous No.10019776]

>>10019308
It is the Tragedy of the Commons, a famous problem in economics. The common good being reflected in the hash rate.
>https://en.wikipedia.org/wiki/Tragedy_of_the_commons
Long run we don't need to worry about this as this isn't a common good that can collapse totally from over-production like a fishery or a common green (for grazing animals).

Just got to buy the dip.

[Anonymous No.10019843]

Some of you guys should really go read the fucking headlines..