Bitcoin lost >50% of hashrate, what happened ?

roslinpl

legendary

Activity: 2212

Merit: 1199

Quote from: ujka on March 31, 2014, 03:24:20 AM

Bug in Blockchain.info.
I checked 'stats' page on blockchain.info at that time, and there was number 86 for 'blocks mined last 24 hours'.
I then checked mined blocks myself, and counted 156.

I though so!

it was not possible to lost 50% just like that!
Sometimes some bugs over all times charts are making ticks that are not easy to understand.

ujka

hero member

Activity: 630

Merit: 500

Bug in Blockchain.info.
I checked 'stats' page on blockchain.info at that time, and there was number 86 for 'blocks mined last 24 hours'.
I then checked mined blocks myself, and counted 156.

DubFX

sr. member

Activity: 434

Merit: 250

Quote from: ?? on ??

Tell me why the bitcoin rates is moving down

Cuz of next FUD that china is going to ban bitcoin i think.

counter

hero member

Activity: 798

Merit: 500

Time is on our side, yes it is!

Good I'm glad to learn it was a bug as I couldn't for the life of me understand why something like that would happen. I've not been aware of this so thanks very much for bringing it to my attention.

seriouscoin

hero member

Activity: 658

Merit: 500

Quote from: mysidia on March 30, 2014, 10:34:12 PM

Quote from: 5thStreetResearch on March 30, 2014, 01:39:19 PM

If the price keeps falling perhaps we'll see a drop but it's not going to be cut in half just like that

If the price keeps falling and stays down: we may see a flattening out of the hash rate in 6 to 12 months, possibly a dip, but doubtful; it would most likely mean the end of exponential increase in difficulty ---- stretched out in time, due to miners having committed capital for mining operations beginning months in the future.

I do not necessarily expect much of the network hash capacity to just up and quit any currently mining operations, as they already spent the investment on the expensive gear, and there are very likely many miners with pre-orders of mining equipment as well, some which have committed and can't just cancel or back out.

Would most likely serve to raise the bar on minimum hashes per unit of investment expense,
for new mining operations.

which also mean higher price support.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: TTM on March 30, 2014, 11:16:40 AM

https://blockchain.info/charts/hash-rate

Update: Hash rate returned to normal now, it seem there was an error at Blockchain.info

Stunning graph even without the bad data.
FYI: The big rise is starting ~Oct 2013.

mysidia

member

Activity: 93

Merit: 10

Quote from: 5thStreetResearch on March 30, 2014, 01:39:19 PM

If the price keeps falling perhaps we'll see a drop but it's not going to be cut in half just like that

If the price keeps falling and stays down: we may see a flattening out of the hash rate in 6 to 12 months, possibly a dip, but doubtful; it would most likely mean the end of exponential increase in difficulty ---- stretched out in time, due to miners having committed capital for mining operations beginning months in the future.

I do not necessarily expect much of the network hash capacity to just up and quit any currently mining operations, as they already spent the investment on the expensive gear, and there are very likely many miners with pre-orders of mining equipment as well, some which have committed and can't just cancel or back out.

Would most likely serve to raise the bar on minimum hashes per unit of investment expense,
for new mining operations.

crazynoggin

full member

Activity: 176

Merit: 100

Never get your sources of information from one place, otherwise you may end up with the wrong information.

5thStreetResearch

full member

Activity: 126

Merit: 100

If the price keeps falling perhaps we'll see a drop but it's not going to be cut in half just like that

lppeu

newbie

Activity: 28

Merit: 0

Quote from: sbabe on March 30, 2014, 11:22:57 AM

Because of price drop. At this current price mining is not profitable.

Said is reasonable, I will stop mining BTC.

DubFX

sr. member

Activity: 434

Merit: 250

Quote from: roslinpl on March 30, 2014, 01:09:06 PM

well this is interesting, maybe some China miners are switching off their rigs?

or just some bug ...

It has been classified as a bug already...

roslinpl

legendary

Activity: 2212

Merit: 1199

well this is interesting, maybe some China miners are switching off their rigs?

or just some bug ...

Zimbabwecoin

member

Activity: 87

Merit: 10

I only wish the hash rate dropped in half. Mining is so much slower than it was not too long ago..

Singlebyte

hero member

Activity: 854

Merit: 1000

Quote from: vpitcher07 on March 30, 2014, 12:26:12 PM

I've seen this exact thing before with the market cap graph. It's a glitch from blockchain.info...We will definitely see a decrease in hashrate due to this price drop but not that severe.

Mining rate is still holding strong so far. It's up almost 20% since last adjustment.

https://bitcoinwisdom.com/bitcoin/difficulty

vpitcher07

sr. member

Activity: 342

Merit: 250

I've seen this exact thing before with the market cap graph. It's a glitch from blockchain.info...We will definitely see a decrease in hashrate due to this price drop but not that severe.

DubFX

sr. member

Activity: 434

Merit: 250

Quote from: TTM on March 30, 2014, 12:04:17 PM

Quote from: DubFX on March 30, 2014, 11:55:59 AM

There isn't any drop in hashrate...stop panicking people!

blockchain.info chart 30 minutes ago:

it seems there was an error, everything back to normal now.

"it seems there was an error, everything back to normal now." You mean blockchain.info error so it just seemed like drop.

Rannasha

hero member

Activity: 728

Merit: 500

Quote from: irrational on March 30, 2014, 11:25:23 AM

I noticed that the ZeroBlock app is reporting a block time of 17 minutes, but being on my phone I haven't been able to verify how they've come to this conclusion.

It seems reasonable that they could be estimate block time based on network hash rate as reporting by blockchain. In which case, this is explained by DeathAndTaxes. I'm just not sure where they're (ZeroBlock) is pulling their info from.

ZeroBlock is owned by Blockchain.info, so it would make sense that they pull their data from there.

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: gmaxwell on March 30, 2014, 11:37:26 AM

BC.i is just broken, yet again.

Yep. People are putting way too much scrutiny on a very new piece of software that is in development as we speak.

Most bitcoin-related applications are still 0.X state.

TTM

full member

Activity: 140

Merit: 100

Quote from: DubFX on March 30, 2014, 11:55:59 AM

There isn't any drop in hashrate...stop panicking people!

blockchain.info chart 30 minutes ago:

it seems there was an error, everything back to normal now.

DubFX

sr. member

Activity: 434

Merit: 250

There isn't any drop in hashrate...stop panicking people!

Topic: Bitcoin lost >50% of hashrate, what happened ? (Read 3806 times)