Bitcoin Network Hashrate Tops 400PH/s [edit: WAS THE INCREASE UNTRUE?]

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Quote from: Amph on July 27, 2015, 02:40:31 AM

the growth of the network from now will be very slow, don't expect the same thing happened with peta, with exa there is a new order of magnitude, exa will be probably the final stage of bitcoin network

whether we passed 450 or not: i disagree with you.

what we see in mining is only "kindergarden" compared to what will happen in the future. Cool

Samsung Mining Chips? Intel Chips? What about a mining chip in 200 million devices? What will happen when banks start mining or states?

NorrisK

legendary

Activity: 1946

Merit: 1007

Quote from: Nexious on July 27, 2015, 06:02:43 PM

Quote from: yeponlyone on July 27, 2015, 05:24:02 PM

Quote from: Karartma1 on July 27, 2015, 05:02:43 PM

It's quite normal. Bitcoin's price was too low to mine for most of miners, When the price went up home miners etc started their rigs.
It wasn't the first time we've seen 400+ Phs (according to blockchain.info's graph).

Thanks unamis76 and Karartma1, I will keep looking into it, especially since they reported 465ph with no indication of stopping rising.

We have reached it before, but that sudden increase and then it disappeared makes me think it could be next generation hardware testing. That's just speculation of course Tongue

Why would they turn it off so fast? They could be harvesting 10-20% of all blocks according to the size of the spike.. No reason to shut that down?

fryarminer

hero member

Activity: 686

Merit: 500

When in doubt, blame China! Tongue

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Nexious on July 27, 2015, 06:02:43 PM

Quote from: yeponlyone on July 27, 2015, 05:24:02 PM

Quote from: Karartma1 on July 27, 2015, 05:02:43 PM

It's quite normal. Bitcoin's price was too low to mine for most of miners, When the price went up home miners etc started their rigs.
It wasn't the first time we've seen 400+ Phs (according to blockchain.info's graph).

Thanks unamis76 and Karartma1, I will keep looking into it, especially since they reported 465ph with no indication of stopping rising.

We have reached it before, but that sudden increase and then it disappeared makes me think it could be next generation hardware testing. That's just speculation of course Tongue

no it's simple the fact that the price increased and the hashrate usually increase in later than the price about, it was always like that in the past

so i would assume that there isn't any new chip, but just everyone from any big farm adding new equipment, there are almost 20 pools out there, if every one of those adds 3-4 p you have your 70+ peta...

Nexious

full member

Activity: 140

Merit: 100

Nexious.com Admin

Quote from: unamis76 on July 27, 2015, 06:09:31 PM

Quote from: Nexious on July 27, 2015, 06:02:43 PM

We have reached it before, but that sudden increase and then it disappeared makes me think it could be next generation hardware testing. That's just speculation of course Tongue

My thoughts also Wink

But I don't have any numbers or proof about that... Maybe KnC and their 16nm chips?

Well it's either that, or the price increase has the home miners turning their machines back on?

unamis76

legendary

Activity: 1512

Merit: 1012

Quote from: Karartma1 on July 27, 2015, 05:02:43 PM

It's quite normal. Bitcoin's price was too low to mine for most of miners, When the price went up home miners etc started their rigs.
It wasn't the first time we've seen 400+ Phs (according to blockchain.info's graph).

I was about to say that, but I didn't confirm on the graphs... also though so

And yeah, it's just basically people turning on their miners because of the price increase. The wrong time to turn them on, IMO

Quote from: Nexious on July 27, 2015, 06:02:43 PM

We have reached it before, but that sudden increase and then it disappeared makes me think it could be next generation hardware testing. That's just speculation of course Tongue

My thoughts also Wink

But I don't have any numbers or proof about that... Maybe KnC and their 16nm chips?

Nexious

full member

Activity: 140

Merit: 100

Nexious.com Admin

Quote from: yeponlyone on July 27, 2015, 05:24:02 PM

Quote from: Karartma1 on July 27, 2015, 05:02:43 PM

It's quite normal. Bitcoin's price was too low to mine for most of miners, When the price went up home miners etc started their rigs.
It wasn't the first time we've seen 400+ Phs (according to blockchain.info's graph).

Thanks unamis76 and Karartma1, I will keep looking into it, especially since they reported 465ph with no indication of stopping rising.

We have reached it before, but that sudden increase and then it disappeared makes me think it could be next generation hardware testing. That's just speculation of course Tongue

yeponlyone

hero member

Activity: 504

Merit: 500

Quote from: Karartma1 on July 27, 2015, 05:02:43 PM

It's quite normal. Bitcoin's price was too low to mine for most of miners, When the price went up home miners etc started their rigs.
It wasn't the first time we've seen 400+ Phs (according to blockchain.info's graph).

Thanks unamis76 and Karartma1, I will keep looking into it, especially since they reported 465ph with no indication of stopping rising.

Karartma1

legendary

Activity: 2310

Merit: 1422

It's quite normal. Bitcoin's price was too low to mine for most of miners, When the price went up home miners etc started their rigs.
It wasn't the first time we've seen 400+ Phs (according to blockchain.info's graph).

unamis76

legendary

Activity: 1512

Merit: 1012

Quote from: yeponlyone on July 27, 2015, 04:19:40 PM

Was it a glitch that showed the strong spike? Or was it manipulated in some way?

What other tools do we have to see network size, to control if it ever was at 465pb?

I don't know if the news article was manipulated or not in any way, but one thing is for sure, we passed 400 PH. That could be seen on any website that display global hashrate.

What other tools? getmininginfo on Bitcoin Core console Cheesy

yeponlyone

hero member

Activity: 504

Merit: 500

Again:

Has anyone been able to reproduce the increase in hash as seen in the bitcoinagile.com article?

They have used this site: http://data.bitcoinity.org]http://data.bitcoinity.org/bitcoin/hashrate/30d?c=m&t=a]http://data.bitcoinity.org to create the chart. No matter which settings I use I can't get the same spike; The closest I got is probably this shown above:

However, these ones are from today:

Was it a glitch that showed the strong spike? Or was it manipulated in some way?

What other tools do we have to see network size, to control if it ever was at 465pb?

HCLivess

legendary

Activity: 2114

Merit: 1090

=== NODE IS OK! ==

Thanks for this, it looks crazy

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: yeponlyone on July 27, 2015, 03:26:35 AM

Quote from: Amph on July 27, 2015, 03:00:35 AM

Quote from: yeponlyone on July 27, 2015, 02:49:32 AM

Slow...? Did you look at the picture? The spike seems to still be rising... It's by far the biggest increase in network size in years.

How big is the rise in percent of the whole network?

exactly since years, that's what i mean, don't expect the same rise from tera to peta, i believe the price have the possibility to overcome the network hashrate's increase, by a long shot

Sure, but if that spike continues as it seems to, 500peta is not far away - or 0,5tera. But of course it will stop eventually.

I'm just very curious what is - not what can be - the explanation behind this. Perhaps it's etablished hardware, but besides KnC's 16nm there have been rumours of an S7.

it's obvious that it has to do with a new productive process 16nm or 14nm, knc miners where saying that they were wokring on it since weeks or months, so it must be ready, their efficient isn't that great compared to the old HW

in the past the efficiency would have doubled from generation to generation now it's like 0.4..

DarkHyudrA

legendary

Activity: 1386

Merit: 1000

English <-> Portuguese translations

I want to see if there will be any spike like this one when the next halving occurs.

notlist3d

legendary

Activity: 1456

Merit: 1000

Quote from: okae on July 27, 2015, 05:58:27 AM

this could happend becasue maybe new hw is going to be released soon, as always... for those who sayd that dont expect the same rise on the next months/years i would say: never say never Wink

Also if things are going like i expected, thats nothing compare to the next years Wink

Likely someone is plugging in some gear. It's hard to say who or what specs are. But yea some new gear, this diffiulty jump has not went crazy.

But hitting 400 PH is huge milestone. I am still hoping difficulty rises slow we do not need any double digit's anymore. Will be interesting once a few have next gen what happens.

acquafredda

legendary

Activity: 1316

Merit: 1481

Quote from: Elwar on July 27, 2015, 04:51:45 AM

In the early days there would be threads about how easily the banks could just buy enough hardware to do a 51% attack, or some government or the Federal Reserve.

Not so many threads along those lines anymore...

Maybe because so far it's not necessary: the establishment has other means to say no to BTC.
And let's be realistic: if they want they will find a way to control this. And, I think, given a certain amount of money this will be very easy.

Why it is not like that? why do they do not control some PHS? that it is not clear at the moment.

okae

legendary

Activity: 1401

Merit: 1008

northern exposure

this could happend becasue maybe new hw is going to be released soon, as always... for those who sayd that dont expect the same rise on the next months/years i would say: never say never Wink

Also if things are going like i expected, thats nothing compare to the next years Wink

Bitcoinpro

legendary

Activity: 1358

Merit: 1000

the spike at the end

aakashsangwan

hero member

Activity: 994

Merit: 1000

PUGG.io

By watching this I also think that some new mining hardware is in action.
Or maybe a new mining company with huge bankroll to buy much miners.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

In the early days there would be threads about how easily the banks could just buy enough hardware to do a 51% attack, or some government or the Federal Reserve.

Not so many threads along those lines anymore...

Topic: Bitcoin Network Hashrate Tops 400PH/s [edit: WAS THE INCREASE UNTRUE?] (Read 1348 times)