Bitcoin Hash Rate to Hit a Whopping 100 Quintillion for the First Time

Must Read

Bitcoin Bull Rally Incoming? Market Price Keeping Below the Production Cost Ahead of Halving

Bitcoin is staying above its crucial level $9,000 for sometime now while experiencing some...

Trader shares the “Very Reason All Investors Should Hold some Bitcoin”

In 2020, the price of the leading asset had one of its worst one-day drops...

Bitcoin Sees an Influx of Retail Interest with Investors Doubling Down on HODLing

After tumbling down to below $6,500 yet again, Bitcoin went back above $7,000 in...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

Bitcoin (BTC) is aiming for a new network record as its hash rate is just inches away from hitting three figures.

Bitcoin hash rate nearing 100 quintillion

Data from statistics and wallet provider Blockchain published on Sept. 8 shows that as of that date, Bitcoin’s hash rate has topped 94 quintillion hashes per second. 

Bitcoin network hash rate

A record in itself, the number is now set to reach 100 quintillion for the first time in Bitcoin’s history, commentators suggest. 

As  explained, hash rate refers to the overall computing power involved in processing Bitcoin transactions. The more power, the more secure and profitable the Bitcoin network is. 

Hash rate spent six months in recession during the second half of 2018, before staging a dramatic comeback in January. Three months later, Bitcoin price followed suit, rising from $3,500 to local highs of $13,800. 

Keiser: Bitcoin gains will come at fiat’s expense

According to RT host Max Keiser, price traditionally follows hash rate in bull runs. Now, he says, it is fiat currency which will start feeling the strain due to Bitcoin’s success.

“#Bitcoin hash set to break 100 Q. This will start to become a problem for fiat as data centers dedicated to maintaining fiat systems are pulled into the BTC black hole of true value,” he wrote on Twitter on Sunday.

The pace of change in Bitcoin likewise did not go unnoticed by Lightning Torch relay organizer Hodlonaut, who on Twitter noted the metric measured just 6 quintillion in September 2017. 

“Today, hashrate increases with that same amount every 2-3 weeks,” he added.

BTC/USD meanwhile has yet to capitalize on network strength again. At press time, the pair traded sideways just below $10,200, having lost almost 4% over the past 24 hours.

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

Its’ Finally Here A 100% Local Non-Custodial P2P Cryptocurrency Marketplace.

Finfreeotc is soon launching a one of a kind peer to peer cryptocurrency market place. Their marketplace is 100% non-custodial,...

WorldMarkets continues with the success of its trading artificial intelligence

Today we live in the information age, and access to information is unlimited. And that produces the paradox of misinformation. That's why...

MyTvchain.com Records Growth for The First Blockchain ​​Web Tv Platform Dedicated to Sport Clubs And Athletes

Sophia Antipolis (France) and Singapore: The first web TV platform dedicated to sports clubs and athletes opened in...

Crypto-Broker Instacoins Receives Operating License in Estonia

Instacoins Estonia OÜ, a cryptocurrency brokerage, is pleased to announce it has received an operating license from the Estonian Financial Intelligence Unit (FIU). The...