Quote from: Harlot on July 14, 2020, 08:26:21 PM

Quote from: JeromeTash on July 13, 2020, 11:17:13 PM

If you noticed, immediately after the halving, the mining fee was high and it still is during weekdays. So, even after halving of the block rewards, there is still enough incentive to keep the miners happy in form of transaction fees and if there are miners who closed their farms, I don't think they are many.

The mining fee was high due to users who are willing to pay more during that time, it might be because of P2P trades happening in anticipation of the halving. And based from the news I have seen a lot of miners have already closed down their operations that's why when we look at the charts you will see some temporary drops in Bitcoin's total hash rate but that thing quickly recovers as these old farms are quickly absorbed by bigger mining farms. But during this time when we see some drops in hashrate we can't really connect if there is a correlation between it and Bitcoin's price since Bitcoin was surprisingly doing good in terms of price movement even if there were higher fees and some minor drop in hash rate.

actually the short term changes in hashrate that are small like the one that we had recently during the weeks following the halving are a lot more complicated than just being affected by the price alone. for example it is possible that some miners had old equipment that they had to shut down but then they bought newer ASICs and came back hence the fall and then the rise of the same size.

this may also sound weird but i think it was possible that a mining farm was experimenting with difficulty manipulation. i posted the picture in the other topic in main board once, if you look at how hashrate dropped you can see it dropped very close to the adjustment and stayed low until difficulty dropped then went back up as difficulty went down.