👻 Hashrate – New Record! What it means: Bitcoin’s record-high hashrate shows that the network is becoming more secure, more decentralized, and potentially more valuable.
1️⃣ Increased security: A higher hash rate means that the network is protected by more computing power. This makes it difficult for any one organization to capture and control more than 50% of the network, thus preventing attacks.
2️⃣ Network Health: Reflects miners' trust in Bitcoin and their investment in the future, indicating the reliability and growth of the network.
3️⃣ Energy consumption. Higher hashrate means higher energy consumption, and this is at the center of the environmental debate.
4️⃣ Mining Difficulty: As the hash rate increases, Bitcoin mining becomes more difficult. Therefore, miners have to use more efficient equipment or incur higher operating costs.
5️⃣ Market sentiment: Generally seen as a positive sign. Miners expect Bitcoin to increase in value, especially before events such as halving.
6️⃣ Cost of attack. The cost of taking over a network increases, which discourages potential attackers due to the large amount of resources required.
