25 Jan '16, 6pm
#Bitcoin hash rate exceeds 1 eh/s for the 1st time #crypto #cryptocurrency
This unprecedented amount of hashing power also makes Bitcoin the largest distributed computing effort by far, dwarfing altcoins, [email protected] and BOINC in scale. The network seems to be modeling exponential growth since it’s inception, in contrast to mainstream media coverage suggestion that “the death of bitcoin” is at hand. The network metrics behind the blockchain are a much more important indicator of the health of a distributed currency than media coverage or value speculation because it represents real, physical investment. The number of people mining and using Bitcoin is increasing massively in the long term, regardless of any short-term issues with the specification or development that arise. The cost-prohibitive equipment requi red for mining can be repurposed with little effort, but Bitcoin mining is and will likely remain the optimal use case.