create account

Bitcoin sees 3rd highest difficulty adjustment in last 2 years by jrcornel

View this thread on: hive.blogpeakd.comecency.com
· @jrcornel ·
$18.18
Bitcoin sees 3rd highest difficulty adjustment in last 2 years
# What death spiral?

Today bitcoin saw an adjustment to its mining difficulty levels, something that happens roughly every two weeks.

This time the adjustment was an 11.3% percent adjustment to the upside.

That number may or may not mean much to you on first glance, but this adjustment was the 3rd largest adjustment to the upside in the past two years...

Check it out:

![image.png](https://images.hive.blog/DQmTgLYnHVuQVNerovzvVv9WvZeFfj1semhqgeMfvqmaDMo/image.png)

(Source: https://twitter.com/glassnode/status/1307594854508232706/photo/1)

Oh, and this adjustment took the difficulty levels to new all time highs as well.

# Death spiral was all FUD...

Rewind the clock back to May of this year and there was a lot of fear uncertainty and doubt being spread around regarding what might happen after the halving.

There was one rather vocal camp that seemed to think that not only would the halving not be good for the price of bitcoin, but it would likely be the start of a miner death spiral.

Where we see hash rates declining, mining difficulty dropping, and the price falling.

They were dead wrong.

Not only did bitcoin see the 3rd highest difficulty adjustment in the last 2 years, but this also puts the difficulty levels significantly higher than where it was at the time of the halving.

The difficulty level is now 19.9% higher than it was at the time of the halving...

Check it out:

![image.png](https://images.hive.blog/DQmdQyjAQ2iBqrnYpKNF9rhgKF5X4XEArjxPEpC7b2gpAvL/image.png)

(Source: https://twitter.com/n3ocortex/status/1307659083592470528/photo/1)

Oops...

So much for a miner death spiral.

Not only did we not see one, but the network is more robust and more secure than at any point prior.

The bitcoin network just keeps getting stronger and more robust as time goes on, irregardless of the halving events.

It just keeps working exactly as it was designed to.

Stay informed my friends.

-Doc

Posted Using [LeoFinance](https://leofinance.io/@jrcornel/bitcoin-sees-3rd-highest-difficulty-adjustment-in-last-2-years)
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 261 others
properties (23)
authorjrcornel
permlinkbitcoin-sees-3rd-highest-difficulty-adjustment-in-last-2-years
categoryhive-167922
json_metadata{"tags":["bitcoin","crypto","news","neoxian","palnet","leo","finance","life","blog","investing","leofinance"],"image":["https://images.hive.blog/DQmTgLYnHVuQVNerovzvVv9WvZeFfj1semhqgeMfvqmaDMo/image.png","https://images.hive.blog/DQmdQyjAQ2iBqrnYpKNF9rhgKF5X4XEArjxPEpC7b2gpAvL/image.png"],"links":["https://twitter.com/glassnode/status/1307594854508232706/photo/1","https://twitter.com/n3ocortex/status/1307659083592470528/photo/1"],"app":"leofinance/0.1","format":"markdown","canonical_url":"https://leofinance.io/@jrcornel/bitcoin-sees-3rd-highest-difficulty-adjustment-in-last-2-years"}
created2020-09-21 03:02:42
last_update2020-09-21 03:02:42
depth0
children7
last_payout2020-09-28 03:02:42
cashout_time1969-12-31 23:59:59
total_payout_value10.368 HBD
curator_payout_value7.809 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length2,054
author_reputation2,133,450,396,741,846
root_title"Bitcoin sees 3rd highest difficulty adjustment in last 2 years"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id99,736,371
net_rshares73,245,451,903,943
author_curate_reward""
vote details (325)
@cryptographic ·
Pretty bullish stuff we're seeing. Think we may see some more [backfilling](https://hive.blog/hodl/@cryptographic/bitcoin-trading-an-update) first. Nothing bad about that though - good market structure is always welcomed.

Great coverage BTW. Thanks!
properties (22)
authorcryptographic
permlinkqh05ic
categoryhive-167922
json_metadata{"links":["https://hive.blog/hodl/@cryptographic/bitcoin-trading-an-update"],"app":"hiveblog/0.1"}
created2020-09-21 09:39:48
last_update2020-09-21 09:39:48
depth1
children3
last_payout2020-09-28 09:39:48
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length250
author_reputation111,198,190,831,086
root_title"Bitcoin sees 3rd highest difficulty adjustment in last 2 years"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id99,740,645
net_rshares0
@jrcornel ·
$0.31
Yep, though the backfilling is probably more related with what is going on in the equity markets. They are demanding more stimulus and every day that they don't get it, they go down. Risky assets across the board being pulled down.
👍  
properties (23)
authorjrcornel
permlinkqh0oyt
categoryhive-167922
json_metadata{"app":"hiveblog/0.1"}
created2020-09-21 16:39:57
last_update2020-09-21 16:39:57
depth2
children2
last_payout2020-09-28 16:39:57
cashout_time1969-12-31 23:59:59
total_payout_value0.154 HBD
curator_payout_value0.154 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length231
author_reputation2,133,450,396,741,846
root_title"Bitcoin sees 3rd highest difficulty adjustment in last 2 years"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id99,746,207
net_rshares1,729,383,067,112
author_curate_reward""
vote details (1)
@cryptographic ·
There's still a very strong correlation.
properties (22)
authorcryptographic
permlinkqh0vv3
categoryhive-167922
json_metadata{"app":"hiveblog/0.1"}
created2020-09-21 19:09:03
last_update2020-09-21 19:09:03
depth3
children1
last_payout2020-09-28 19:09:03
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length40
author_reputation111,198,190,831,086
root_title"Bitcoin sees 3rd highest difficulty adjustment in last 2 years"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id99,748,602
net_rshares0
@luca1777 ·
Sounds good...solid "little" BTC ;)
properties (22)
authorluca1777
permlinkqh031r
categoryhive-167922
json_metadata{"app":"hiveblog/0.1"}
created2020-09-21 08:46:42
last_update2020-09-21 08:46:42
depth1
children2
last_payout2020-09-28 08:46:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length35
author_reputation71,275,667,842,175
root_title"Bitcoin sees 3rd highest difficulty adjustment in last 2 years"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id99,740,064
net_rshares0
@jrcornel ·
Buy it, hodl it, check on the price in 12-18 months. Happy.
👍  
properties (23)
authorjrcornel
permlinkqh0ozi
categoryhive-167922
json_metadata{"app":"hiveblog/0.1"}
created2020-09-21 16:40:24
last_update2020-09-21 16:40:24
depth2
children1
last_payout2020-09-28 16:40:24
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length59
author_reputation2,133,450,396,741,846
root_title"Bitcoin sees 3rd highest difficulty adjustment in last 2 years"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id99,746,213
net_rshares129,008,919,916
author_curate_reward""
vote details (1)
@luca1777 ·
Yesir ;)
properties (22)
authorluca1777
permlinkqh0rcf
categoryhive-167922
json_metadata{"app":"hiveblog/0.1"}
created2020-09-21 17:31:30
last_update2020-09-21 17:31:30
depth3
children0
last_payout2020-09-28 17:31:30
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length8
author_reputation71,275,667,842,175
root_title"Bitcoin sees 3rd highest difficulty adjustment in last 2 years"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id99,747,071
net_rshares0