Quote from: Harlot on September 16, 2019, 05:43:14 PM

One big factor why even if we aren't near the all time high and still the hash rate is up is because of the low network fees we have. Way back 2017 when the network fees are unbelievably you will see that the hash rates started to fall down. Now that we mitigated that cost for the miners this made Bitcoin mining much more appealing for them even if we are just at the 10,000$ level

Lol, what are you saying?
MIners profit from high fees as this adds to their reward mined per block, a clogged network with high fees would make mining more profitable and thus push them to add more gear and by doing so increase the hashrate .

Ignoring that we were at 60exa with 4000$ per btc so considering the spike in efficiency we could probably reach 150 by the end of the year even without a further increase in price, but this only if there is going to be enough gear produced and delivered by then which I'm starting to doubt.

LE:

Quote from: o_e_l_e_o on September 16, 2019, 03:42:16 PM

Whether or not this apparent correlation means anything is highly dubious though. You can manipulate scales and time frames for two sets of data like this to prove almost anything you want.

Comparing price and pure hashrate won't show anything, hashrate will grow even if the price will go down because of increased efficiency per kw consumed.
So the only way to create a meaningful graphic would be to take those two

a) Reward per block value in usd
b) Hashrate electricity costs (based on the most common miner at the time) at a 0.1 or 0.05 cents/kwh

But it's time-consuming research that would simply tell us what we all know already.