"Price Follows Hashrate": Max Keiser Believes Bitcoin is On the Way Up
- “New hardware is consistently being added to the #bitcoin network," the Wall Street veteran tweeted.

Although the price of Bitcoin has been sliding for months, BTC’s Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain ledgers that run on Proof-of-Work (PoW) algorithms.Hash Rate and Crypto MiningPoW algorithms require the computers that uphold the network and process transactions (called nodes) to solve complex equations in order to reach consensus, or agreement on whether or not a transaction. This process is called mining. Miners are chosen based on which one of them has the most powerful equipment--in other words, the highest hash rate. A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain ledgers that run on Proof-of-Work (PoW) algorithms.Hash Rate and Crypto MiningPoW algorithms require the computers that uphold the network and process transactions (called nodes) to solve complex equations in order to reach consensus, or agreement on whether or not a transaction. This process is called mining. Miners are chosen based on which one of them has the most powerful equipment--in other words, the highest hash rate. Read this Term (the total computing power that a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term network uses to send and confirm transactions) is reaching astronomical rates. After increasing 15 percent in June, BTC’s hashrate rose higher than it has ever been.
What could this mean? Some industry experts claim that a rise in hashrate indicates that a growing number of entities are choosing to invest in Bitcoin, despite the fact that its price remains low.
“Price follows hashrate,” tweeted Max Keiser, journalist, and former Wall Street trader, adding that these words have been his mantra ever since the days that a single Bitcoin cost just $3. “New hardware is consistently being added to the #bitcoin network.” It's not clear exactly when Keiser believes BTC's price will catch up to its hashrate.
Price follows hashrate. https://t.co/p73ovdZarC
— Max Keiser (@maxkeiser) June 19, 2018
Bitcoin’s hash rate isn’t the only aspect of the network that seems to indicate a bright future. According to a report from Bitcoinist, transaction fees and mempool size have improved, partially due to increasing adoption of SegWit (‘Segrated Witness’: a software upgrade for the BTC network that makes fees lower and transactions faster). In fact, Bitcoinist reported in May that nearly half of all Bitcoin transactions were made using SegWit.
The price of Bitcoin could also stand to benefit from the increasing adoption of the Lightning Network, a second-layer solution that makes transactions instantaneous and far less expensive. Since its implementation, its number of active nodes has surpassed that of the Bitcoin Cash network.
Many prominent voices in the cryptocurrency industry have publicly shown their support for both SegWit and the Lightning Network, including Charlie Lee, who tweeted that “Bitcoin is a great store of value. I'm fine spending ~$1 fee per transaction, but I can't stand waiting 40+ minutes for a confirmation!...Lightning Network solves both these problems for Bitcoin and SegWit solves a few more!”
In other words, both of these solutions address some long-standing problems on the Bitcoin network: scalability and high network fees. If these issues can be tackled successfully, BTC could actually function as the ‘digital cash’ that its creator intended it to be.
Lightning Network solves both these problems for Bitcoin and SegWit solves a few more!
i hope Litecoin can help Bitcoin get SegWit soon. — Charlie Lee [LTC⚡] (@SatoshiLite) April 16, 2017
Although the price of Bitcoin has been sliding for months, BTC’s Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain ledgers that run on Proof-of-Work (PoW) algorithms.Hash Rate and Crypto MiningPoW algorithms require the computers that uphold the network and process transactions (called nodes) to solve complex equations in order to reach consensus, or agreement on whether or not a transaction. This process is called mining. Miners are chosen based on which one of them has the most powerful equipment--in other words, the highest hash rate. A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain ledgers that run on Proof-of-Work (PoW) algorithms.Hash Rate and Crypto MiningPoW algorithms require the computers that uphold the network and process transactions (called nodes) to solve complex equations in order to reach consensus, or agreement on whether or not a transaction. This process is called mining. Miners are chosen based on which one of them has the most powerful equipment--in other words, the highest hash rate. Read this Term (the total computing power that a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term network uses to send and confirm transactions) is reaching astronomical rates. After increasing 15 percent in June, BTC’s hashrate rose higher than it has ever been.
What could this mean? Some industry experts claim that a rise in hashrate indicates that a growing number of entities are choosing to invest in Bitcoin, despite the fact that its price remains low.
“Price follows hashrate,” tweeted Max Keiser, journalist, and former Wall Street trader, adding that these words have been his mantra ever since the days that a single Bitcoin cost just $3. “New hardware is consistently being added to the #bitcoin network.” It's not clear exactly when Keiser believes BTC's price will catch up to its hashrate.
Price follows hashrate. https://t.co/p73ovdZarC
— Max Keiser (@maxkeiser) June 19, 2018
Bitcoin’s hash rate isn’t the only aspect of the network that seems to indicate a bright future. According to a report from Bitcoinist, transaction fees and mempool size have improved, partially due to increasing adoption of SegWit (‘Segrated Witness’: a software upgrade for the BTC network that makes fees lower and transactions faster). In fact, Bitcoinist reported in May that nearly half of all Bitcoin transactions were made using SegWit.
The price of Bitcoin could also stand to benefit from the increasing adoption of the Lightning Network, a second-layer solution that makes transactions instantaneous and far less expensive. Since its implementation, its number of active nodes has surpassed that of the Bitcoin Cash network.
Many prominent voices in the cryptocurrency industry have publicly shown their support for both SegWit and the Lightning Network, including Charlie Lee, who tweeted that “Bitcoin is a great store of value. I'm fine spending ~$1 fee per transaction, but I can't stand waiting 40+ minutes for a confirmation!...Lightning Network solves both these problems for Bitcoin and SegWit solves a few more!”
In other words, both of these solutions address some long-standing problems on the Bitcoin network: scalability and high network fees. If these issues can be tackled successfully, BTC could actually function as the ‘digital cash’ that its creator intended it to be.
Lightning Network solves both these problems for Bitcoin and SegWit solves a few more!
i hope Litecoin can help Bitcoin get SegWit soon. — Charlie Lee [LTC⚡] (@SatoshiLite) April 16, 2017