> Mining pool operators are in a position to manipulate the markets.
I don't know what this fixation is on hashrate. As long as it doesn't drop to low enough a level for someone who wants to attack it to be successful, it doesn't make any difference to the coin's functionality.
Anyone with the ability to buy or sell a large amount of crypt can manipulate the markets. This holds doubly true in the middle of the night on a weekend.
It makes a giant difference in the amount of time it takes to mine blocks, especially during hashrate fluctuations, where a currency without a responsive difficulty adjustment algorithm (e.g., Bitcoin) can be 'stranded' with a too-hard difficulty, which means transactions don't get processed, which means there's a giant lag in money movement and fee escalation, etc. etc.
The interplay between hashrate, difficulty, txs, fees, price, and sentiment is pretty complicated and definitely important. See http://www.fork.lol to see this illustrated.
I don't know what this fixation is on hashrate. As long as it doesn't drop to low enough a level for someone who wants to attack it to be successful, it doesn't make any difference to the coin's functionality.
Anyone with the ability to buy or sell a large amount of crypt can manipulate the markets. This holds doubly true in the middle of the night on a weekend.