As the first week of 2024 concluded, Bitcoin’s hashrate shattered another lifetime high on Jan. 6, achieving an unprecedented 549 exahash per second (EH/s). Though the hashrate dipped post-Dec. 25, 2023, falling from 546 EH/s to a low of 510 EH/s, it rebounded amidst a declining hash price and an intervening hike in difficulty.
Hashrate growling one day and going down the other has nothing to do with any economics, it's just about luck.
That difference of 36 exahash is the equivalent of 300 000 S19 or 600 million in gear or 900MW (a nuclear reactor) of energy being turned on and off.
The daily hashrate is calculated from the blocktime and with this being random you get random results:
https://bitinfocharts.com/comparison/bitcoin-confirmationtime.html#3mWhat matters is what we have after an epoch, and the last difficulty adjustment on the 6th said 73,197,634,206,448 that's 523.83 EH/s!
Thinking that miners could switch on and off 40-50 exahahs of hash every day is just...
Do you think they will start shutting down their mega-mining farms like before? I remember how it was last time and the transfer of bitcoin could take a very long time,
When did that happen?
Even if 90% of the mining farms will shut down once the adjustment kicks in the normal blocktime of a block 10 minutes will kick in again.
For a constant loss of transactions capacity you will have to have constant loss of mining power every two week, so 10 of miens to quit this week, then again 10% then again and so on, and the moment you have a two week interval nobody quit the transaction capacity is the same.