Why Bitcoin Hash Rate is dropped

[BullRunBit 2773]

Before few days Bitcoin Hash Rate dropped for 40%, and that is a lot.

Nobody dont know what is the reason for that, till some video come out where some Bitcoin mining farm is on fire.

And that Bitcoin farm is worth 10M, you can imagine how large is that farm.

And that is not all, I read about one more farm that is affected (maybe not on fire) but I dont have more info about that.

This is video that I'm talking about

Link to original news: https://cointelegraph.com/news/10m-mining-farm-fire-takes-blame-as-bitcoin-hash-rate-wobbles

Edited October 1, 2019 by BullRunBit
forgot link to original news

[hexwin 4931]

 

 

In reality hashrate went back up almost to previous hight,

and it has been rising for long time, if you go from start it looks even better.

 

[xBDT Script 4371]

@OP, it's an old new 😊

The drop hash happened on the day when BAKKT launched if I am not wrong. But like the user above me said, it went back to the normal again.

Talking about the reason? No one really no sure about it.

[BullRunBit 2773]

Just now, xBDT Script said:

@OP, it's an old new 😊

The drop hash happened on the day when BAKKT launched if I am not wrong. But like the user above me said, it went back to the normal again.

Talking about the reason? No one really no sure about it.

I dont thing that Bakkt affect on drop of hash rate at all, how could? 😀

One thing I can accept, that some Bitcoin mining machines is turn off and because of that hash rate drop.

But I dont tell that is for sure because of this video above, but have sense if some (big one) machines is turn off I think it's because of that.

But this is just speculation, who knows what really happen.

If someone have some information free share here with us. 

[1millionClub 494]

It didn't drop. Did you see the hashrate chart? There are ups and down everywhere. It is called variance. It varies. Look at the average number. It is going up

[BullRunBit 2773]

Just now, 1millionClub said:

It didn't drop. Did you see the hashrate chart? There are ups and down everywhere. It is called variance. It varies. Look at the average number. It is going up

First, I dont tell that I read that it's big different.

Read first post, and look where I read that what they write about all that.

All media write about that and you tell me "it didn't drop", please tell to all media that they are wrong and that is only variance. 😉

Of course it's going up, who will turn down mining machines when they invest that much.

Right question is "why" happened that drop.

[xBDT Script 4371]

26 minutes ago, BullRunBit said:

I dont thing that Bakkt affect on drop of hash rate at all, how could? 😀

Did I blame Bakkt? no 🤭

I said the day BAKKT launched that day we have witnessed the deep in hashpower.

8 minutes ago, BullRunBit said:

Right question is "why" happened that drop.

No idea. May be a manipulation. If a big firm stops there mining for that day for maintenance then we can experience it.  Just a guess though.

[dentolas 551]

10M in mining hardware is a considerable amount of ASICs... Innosilicon is just one of the chinese mining giants that is producing more ASICs for themselves than for export... wonder why? 😁

And people say BTC is banned in China.... 😂

anyway, a huge farm like that being suddenly disconnected will surely make a down spike on the hashrate... not that it will affect averages, but I think it will show

[Mohs3n71 0]

the drop can happen because of maintenance on a very big pool like ANTPOOL, it can really cause this kind of drops in hashrate

[Emma 611]

1 minute ago, Sujon33 said:

Bitcoin price up and down depends on crypto traders and investors.When bitcoin buy sell increase then bitcoin price is go down.This is the main reason to price down bitcoin

I think you have some misunderstanding my friend😍

he was asking for the reason why the price of hash rate decreasing, not the price of bitcoin.

[harsh 248]

Theory that has been floating around is that a group of powerful mining pools may have gone offline due to power outages. If it is just one mining pool, then that will be pretty ridiculous because one single mining pool shouldn’t have that must power.

[mani982 286]

Hash rate of bitcoin mining is drooping with the passive of time .it is due to the reason that bitcoin remaining supply is low so that time by time hash rate decreases and mining difficulty will be increased.

[Afrizal rahman 2636]

The video depicts some of the burning Bitcoin fields. Maybe this is the cause of the decline but we can not say it is also the cause. But clearly this loss is quite large.

[Romaan1987 601]

due to increase in load of bitcoin network and limited supply also. hash rate is being increased. also bitcoin halving is major part of decreasing hash rate.

[Benjamin 84]

This will be a huge amount of bitcoin will be wasted because this mining site for bitcoin is now burned, i think this mining site get some big amount of bitcoin so that the bitcoin hash rate is affected, before we enter this mining, we need to have some full equipment and also we need to have a cool place so that we can avoid some overheating.

[Roomi 1119]

We can not surely tell the original story behind dropped hash rate of bitcoin. There could be lot of reasona behind it. Burning of a big mining farm could be the major reason but there could be another

[bliznec 22267]

Bitcoin Hash doesn’t look very good when farms are burning to mine Bitcoin Hash. This does not affect the Bitcoin Hash hash very well. It’s best to switch to another coin.  

[pakjobhelp 1585]

Now the price of all crypto currency goes up and due to environment warm up and more crypto trader work for this. This is good news for all crypto currency user that the price of all crypto currency goes up and they invest in crypto currency for long term benefit.

[rajonmia 181]

I have no idea why Bitcoin price going down. But I know that is not future for Bitcoin. Because Bitcoin just like a dream. This coin price must be increase. So you can trade.

[SuperCrypto 7193]

The segmentation rate is the measure of processing power dedicated to blockchain, the higher segmentation rate means that more mining operations are running on the Bitcoin network, which indicates that they are increasingly economically viable in both the current Bitcoin price and the level of difficulty

[mani982 286]

Every coin have its own specific feature for mining coin and when the Mining supply decrees then with the passage of time its mining difficulty increased and hash rate decreases and the result is that mining profit will decrease.