The halving is here, are you ready?

in hive-167922 •  2 months ago 

I was checking some random things, when suddenly...

halvingcountdown.png

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OMG, I'M not ready yet, I still need to accumulate some more! It's unbelievable that today is ''the day''.

Many months waiting for this event, and wondering wondering about the price, Hive (formerly Steem),and the overall industry as a whole...

I also checked some other technical things, like the last difficulty adjustments & the current hashrate levels.

difficulty.png

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This chart represents the hashrate levels since December 2017, the last price peak at ~20K/BTC. Incredible to think that we've been crushing it in terms of 'securing the network' regarding new computational power joining the network.

The hashrate increased a ~300% since and we're beating ATH's every other week.

It's also very interesting to observe the latest difficulty adjustments:

adjustments.png

In case that you don't know what that means; the Bitcoin network automatically adjusts the difficulty of their 'puzzle' every 2016 blocks to keep the block time always close to ~10 min/block.

If new miners join the network the difficulty increases. In the other hand, if the price decreases very fast & existing miners shut down their machines because they can't handle the price decrease in ROI terms, the algorythm reduces the difficulty in order to keep 'survivors' mining the blocks at the well-known ~10min timeframe.

We're now witnessing a dump, but as I stated at this post, I believe that one (the dump) will be short lived.

Hope you enjoyed your Sunday.

Thanks for reading, as always :)

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What a dump one could say... about 15% or so, and I'm afraid that after the halving more will come. I somehow intuitively know that one year from now, or so, the price will be much more than now but, on the other hand so tired of this wait. My first halving...

15% is nothing IMO... And that type of fear is what the big whales want/expect from us.

If you have a trading stack you can try some luck, but be very careful about tethering now. I'm very cautious right now, not selling anything, but for whatever reason I have the gut that the dump will not be as hard as many would say.

In addition, we had a very big hack the last time (Bitfinex hack 1 month after the last halving or so).

https://www.coindesk.com/bitfinex-bitcoin-hack-know-dont-know

Take care mate. It's my second halving but I missed the chance on the first one. Was still falling the rabbit hole.