Post
Topic
Board Development & Technical Discussion
Re: Why are transactions much faster now?
by
Kakmakr
on 25/01/2018, 06:24:16 UTC
Thanks for your explanations, it looks pretty clear to me now. It seems that I have also been a tiny part of the solution, as I’ve been using a Segwit address already for 6 weeks.

I would like to ask one question more: why has the hashing power increased in the past weeks? I’ve googled about it and it seems that the power can be increased by new miners starting to mine bitcoin or switching to bitcoin but that seems unlikely to me because the price is lower now, so it’s not that profitable, right? Also, because of better hardware (more efficient) but I don’t think there has been a significant hardware upgrade recently.


There were talks about Chinese miners moving their operations from China to other countries and I wonder if these mining farms has contributed to the increase in hashing power, if they have done this and are possibly operational again? Most of these things will be hush hush, until the whole operation has relocated.  Huh

There are also talks about massive Canadian / American mining farms being funded, so this might have an impact too. I am just glad that Bitcoin mining is moving to other countries now. The Chinese monopoly over Bitcoin mining was never a good idea.