The Daily Chain
No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
No Result
View All Result
The Daily Chain
No Result
View All Result
Home All News

Bitcoin Hashrate Still Falling — How Will a Difficulty Adjustment Help?

Darryn Pollock by Darryn Pollock
19th May 2020
2 min read
0
Bitcoin Hashrate Still Falling — How Will a Difficulty Adjustment Help?
0
SHARES
0
VIEWS
FacebookTwitterLinkedinTelegramEmailWhatsapp

The mining ecosystem is still dealing with the major cut in profitability that came from the Bitcoin Halving event earlier in May. As it stands, the mining hashrate is in freefall, but the fall is not too drastic or dangerous as it stands, but the question is how will this continue to impact the mining ecosystem.

The cryptocurrency industry saw earlier than the Bitcoin halving what happens when a big cut in rewards come as both Bitcoin Cash and Bitcoin SV went through their halvings before and saw drops as much as 80 percent in hashrate. This was quite damaging for the forks, but the fall in Bitcoin’s algorithm has not been as big yet. 

In fact, the fall seen thus far is still less than what was seen when the price of Bitcoin fell dramatically in the middle of March which caused a bit of a capitulation of miners. But, many feel that that event helped sure up the mining space for Bitcoin in anticipation of the halving. 

The question is will this hashrate bounce right back as the difficulty gets set to readjust in the next week or so? Bitcoin’s hashrate is self correcting and the difficulty adjusts depending on how much power there is in the network. If the hashrate stays down, or drops more, the difficulty could drop right down and entice miners to come streaming back with higher profitability. 

Fears of a major fall

With events like a rewards halving there can be a major impact on the affected coins, and with Bitocin being such a major crypt currency, it would be highly concerning if something did unfixable damage. 

However, it appears that even with the uncertainty of the event, there is nothing really to fear in the system. Bitcoin Investor and Analyst Tuur Demeester explained how thighs have been a lot uncertain before Bitcoin was this big. He looked back about the first halving:

“There was quite a lot of fear that maybe something might go wrong, who knows. We might have to fix a bug. ” He continued, “It was like a Y2K movement like what if the computers go from 1999 to 2000 like something good and nothing happened.”

However, with the third halving, the concerns, such as a debit spiral, is not as big of a fear according to Demeester. He stated:

“The debt spiral is not going to happen. I mean it is self-correcting when all of a sudden all the miners plug out their machines, which they have done, the hashrate goes down, and then two weeks later, it gets adjusted automatically.”

Tags: BitcoinBitcoin Halving
ShareTweetShareShareSendSend
Darryn Pollock

Darryn Pollock

Darryn has been interested in the blockchain and cryptocurrency space since he heard about Bitcoin in 2015. He then decided to use his journalism degree to report on this fascinating fintech space in 2016, and has not looked back since.

Related Posts

Capital Manager: ETH Price Will Double Once Bulls Takes Out $1,400
All News

Capital Manager: ETH Price Will Double Once Bulls Takes Out $1,400

15th January 2021
Scam-Elon musk-Crypto
All News

Scammers Make upwards of $580,000 From Elon Musk Scheme

15th January 2021
Indian Hacker Steals $1.2M in BTC and Accesses the Government Website
All News

Indian Hacker Steals $1.2M in BTC and Accesses the Government Website

15th January 2021
Over $2bln of ETH is now staked in Ethereum 2.0
All News

Reports suggests some exchanges are running low on ETH

15th January 2021
Paxos Adopts Chainlink Oracles to Expand Their DeFi Market
All News

Paxos Adopts Chainlink Oracles to Expand Their DeFi Market

15th January 2021
Ledger-Data breach
All News

Ledger Customer receive Threatening Emails after information of 20,000 more Leaked

15th January 2021
Next Post
Cryptojacking

Cryptojackers just used multiple Supercomputers to mine Monero

User’s PINs of Crypto Hardware Wallets Could be Hacked, New Research Shows

User’s PINs of Crypto Hardware Wallets Could be Hacked, New Research Shows

Please login to join discussion
  • All News
  • Editor's Picks

Capital Manager: ETH Price Will Double Once Bulls Takes Out $1,400

Scammers Make upwards of $580,000 From Elon Musk Scheme

Indian Hacker Steals $1.2M in BTC and Accesses the Government Website

Polkastarter Primed for 2021

Reports suggests some exchanges are running low on ETH

Join our newsletter!

Enter your email to receive our newsletter.


Don’t worry, we don’t spam
ADVERTISEMENT

Popular Posts

  • Ripple Targets 10 Million Customers With New Strategic Partnership

    Ripple Targets 10 Million Customers With New Strategic Partnership

    0 shares
    Share 0 Tweet 0
  • First Signs of Bitcoin Panic Shows as Whales Profit from Correction

    0 shares
    Share 0 Tweet 0
  • Genitals for bitcoin – Hackers take control of Smart Chastity Cages and demand Bitcoin Ransom

    0 shares
    Share 0 Tweet 0
  • Capital Manager: ETH Price Will Double Once Bulls Takes Out $1,400

    0 shares
    Share 0 Tweet 0
  • Bitcoin Makes Swift 20 Percent Recovery as Banks Prepare to Post Major Losses

    0 shares
    Share 0 Tweet 0

Market Updates

Capital Manager: ETH Price Will Double Once Bulls Takes Out $1,400

Capital Manager: ETH Price Will Double Once Bulls Takes Out $1,400

15th January 2021
The Current BTC Uptrend is the Second Most Powerful in History

The Current BTC Uptrend is the Second Most Powerful in History

8th January 2021
Breaking: Bitcoin Bulls Finally Breach $40k As Parabolic Rally Gains Pace

Breaking: Bitcoin Bulls Finally Breach $40k As Parabolic Rally Gains Pace

7th January 2021

Media

hashoshi-alts (2)

Altcoin Season Picks / Projects with Huge Potential

9th September 2020
cardano-ADA

Hashoshi: Cardano Shelley is live… but what’s next is WAY BIGGER

19th August 2020
hashoshi-alts

Hashoshi: Low Cap Alts you need to be watching in 2020

5th August 2020
fomohunt-podcast

FomoHunt Podcast – Joe Vezz & Jon Farjo: Tracking Social Sentiment Waves with Lunar Crush

30th July 2020
ethereum-hashoshi

Hashoshi: Ethereum 2.0, Chainlink, Bitcoin Price, and more!

27th July 2020
fomohunt-podcast

FomoHunt Podcast – Joe Roets: Behind the scenes of “Open source money”

24th July 2020
The Daily Chain

The Daily Chain is a news platform and educational hub founded in January 2019. We are dedicated to providing unique and informative daily content across all facets of the blockchain and cryptocurrency industry whether it be news, opinion pieces, technical analysis, reviews, interviews, podcasts and more.

LEARN MORE »

Recent Posts

  • Capital Manager: ETH Price Will Double Once Bulls Takes Out $1,400
  • Scammers Make upwards of $580,000 From Elon Musk Scheme
  • Indian Hacker Steals $1.2M in BTC and Accesses the Government Website
  • Polkastarter Primed for 2021

Information

  • About
  • Contact
  • Site notice
  • Risk Warning
  • Privacy Policy

Categories

  • News
  • Markets
  • Features
  • Education
  • Media
  • Reviews

TheDailyChain © 2020. The Home of Digital Assets

No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List

TheDailyChain © 2020. The Home of Digital Assets

At The Daily Chain, we are committed to protecting the personal data of our audience.
In light of the General Data Protection Regulation, we are asking our audience in Europe to consent to the use of cookies by The Daily Chain and its partners to continue to our site. These cookies are used to personalize your user experience (content and ads) and support and improve the site. Please click “I Agree, Continue to Site” below to consent to the use of this technology and continue to TheDailyChain.com. Visit our Privacy Statement to learn more. Cookie settingsAgree, continue to site
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

bitcoin
Bitcoin (BTC) $ 36,721.00 4.02%
ethereum
Ethereum (ETH) $ 1,183.99 4.23%
tether
Tether (USDT) $ 1.00 0.30%
polkadot
Polkadot (DOT) $ 15.15 6.16%
ripple
XRP (XRP) $ 0.281524 3.55%
cardano
Cardano (ADA) $ 0.317140 1.14%
litecoin
Litecoin (LTC) $ 143.45 4.20%
bitcoin-cash
Bitcoin Cash (BCH) $ 487.85 4.03%
chainlink
Chainlink (LINK) $ 22.31 21.04%
stellar
Stellar (XLM) $ 0.285230 3.64%
Newsletter

Join our newsletter!

Enter your email to receive our newsletter.

Don't worry, we don't spam