Published on November 13th, 2017 | by bitcoin0
One metric that is far more important to Bitcoin owners than its price
Bitcoin’s price fell over the weekend—while the price of an offshoot, bitcoin cash, soared.
Bitcoin showed signs of its potential for triggering this dynamic over the weekend, when its hash rate fell by 50%.
Bitcoin’s hash rate fell by 50% over two days as miners switched their machines from bitcoin to bitcoin cash, because it was more profitable to do so.
This in turn lowered the profitability of mining bitcoin cash, leading miners to switch their hash power back to bitcoin.
Bitcoin and bitcoin cash’s dueling hash rates.