BTC Network about to hit 1 exahash for the first time over a 24 hour period!!! - page 2.

QuintLeo

legendary

Activity: 1498

Merit: 1030

Quote from: johnyj on December 11, 2015, 03:05:34 AM

Mining has become a business with very large barrier of entry, this is really not good for decentralization. Chinese government only need to take down those large Chinese mining pools to heavily disrupt the bitcoin network

It would take a lot more than that, there are quite a few major farms outside of China.
It would probably do some major hit to Bitcoin price if that happened, though.

QuintLeo

legendary

Activity: 1498

Merit: 1030

Quote from: d57heinz on December 10, 2015, 05:43:40 PM

as per the wallet
963,731.06 TH/s

Best Regards
d57heinz

And again, you're looking at an INSTANTANIOUS estimate that has very little to no meaning.

We MIGHT hit 963xxx sustained TH in a couple weeks though, at the current rate of REAL hashrate increase.

Quote

I suspect the large miners are busy replacing their 0.25 Joule/Gigahash and upwards miners with sub 0.1 J/Gh 16nm miners. KNC have had sub 0.1 chips since July and it is months since Bitfury announced their 16nm tapeout. I have no doubt others are very rapidly moving to sub 0.1 J/Gh chips.

I'm starting to wonder about that KnC announcement. Would not be the first time they made claims they later had to retract.
I find it interesting that the only definitive "full custom 14nm" announcement (Innosilicon A3/A4) doesn't claim sub-0.1 just close to that level (with final specs not absolutely announced).
I also find it interesting that KnC's pool hasn't shown any significant hashrate increase for a long time now.

I would NOT be supprised if BitFury finally got it's next-gen chip into production, and gear based on that being part of the reason for the current hashrate climb.

Part of it COULD be BW.com/Lketc getting the B-Eleven into production a bit earlier than most of us expected.

skuser

sr. member

Activity: 291

Merit: 250

Quote from: d57heinz on December 10, 2015, 05:43:40 PM

Price   417.10 USD/฿
Hashrate   963.73 PH/s
Activity   116 TX/min
Unconfirmed Txs   1,126
Fee Rate   0.00014723 BTC
Fee paid by unconfirmed transactions for every 1,000 bytes of size.

https://chain.so/BTC

as per the wallet
963,731.06 TH/s

Excited that the network is growing along with the price but as a miner im being pushed out Sad

.. So I think my plan now is to buy coins.. With the price seeming to follow diff.. and the halving coming faster and faster.. i feel like a push in price is inevitable. I think at the rate of network hash increase you could profit much better buying coins now than any mining machine can do.. most orders are preorders and i think that is for a good reason.. It will increase 10 - 20 % in diff by time you get miner thus allowing manufactures to bank.. Just my thoughts anyway..

Best Regards
d57heinz

~~The wallet and that chain.so website are using extremely low number of blocks for calculations, 24 hour hashrate looks like this:~~
https://blockchain.info/charts/hash-rate

Still the growth is jawdropping...

Edit: You are probably right with that 24hrs hashrate, my own site nextdifficulty.com shows the same but I didn't notice before because I had to readjust axis intervals on my chart

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

Mining has become a business with very large barrier of entry, this is really not good for decentralization. Chinese government only need to take down those large Chinese mining pools to heavily disrupt the bitcoin network

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: epichaberdasher on December 11, 2015, 02:08:26 AM

The bitcoin network is pretty much controlled by corporations now, Chinese corporations with no interest in the health of the bitcoin network. Power consumption for them is not even a concern, i mean just look at their air pollution crisis and how little they care.

I think Satoshi would have been very disappointed with how things turned out and how much a couple big businesses control the network.

well as long as they do not 51%ed the network who really care, and they will not do it, because it will go against their nice profit

also no miners are interested in supporting bitcoin, this is a well know things, they are there only for the profit, otherwise one should remove the reward if you want to be less hypocrite

epichaberdasher

member

Activity: 66

Merit: 10

The bitcoin network is pretty much controlled by corporations now, Chinese corporations with no interest in the health of the bitcoin network. Power consumption for them is not even a concern, i mean just look at their air pollution crisis and how little they care.

I think Satoshi would have been very disappointed with how things turned out and how much a couple big businesses control the network.

mwizard

full member

Activity: 203

Merit: 100

Quote from: philipma1957 on December 10, 2015, 06:24:17 PM

all that 407ph is now very close to under water if it is at 10 cents or higher. yeah say half of the sept 4 gear was .51 watt and the rest averaged a .75 watt that would be 200ph of gear that will stop making money at the end of this adjustment.

So we have a very interesting dynamic setting up here... will price rise to allow that gear to mine or will a lot of gear drop off next jump.

I suspect the large miners are busy replacing their 0.25 Joule/Gigahash and upwards miners with sub 0.1 J/Gh 16nm miners. KNC have had sub 0.1 chips since July and it is months since Bitfury announced their 16nm tapeout. I have no doubt others are very rapidly moving to sub 0.1 J/Gh chips.

So just think of it as racks of older miners being pulled out and replaced with sub 0.1 J/Gh miners.

HerbPean

legendary

Activity: 1638

Merit: 1005

Indeed, this wall of diff will be interesting to follow

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

Quote from: d57heinz on December 10, 2015, 05:43:40 PM

Price   417.10 USD/฿
Hashrate   963.73 PH/s
Activity   116 TX/min
Unconfirmed Txs   1,126
Fee Rate   0.00014723 BTC
Fee paid by unconfirmed transactions for every 1,000 bytes of size.

https://chain.so/BTC

as per the wallet
963,731.06 TH/s

Excited that the network is growing along with the price but as a miner im being pushed out Sad

.. So I think my plan now is to buy coins.. With the price seeming to follow diff.. and the halving coming faster and faster.. i feel like a push in price is inevitable. I think at the rate of network hash increase you could profit much better buying coins now than any mining machine can do.. most orders are preorders and i think that is for a good reason.. It will increase 10 - 20 % in diff by time you get miner thus allowing manufactures to bank.. Just my thoughts anyway..

Best Regards
d57heinz

this type of growth has a big ripple effect.

Sep 04 2015 56,957,648,455 407,718,729 GH/s price 230

Dec 10 2015 93,879,816,253 735,060,070 GH/s price 415 current coinbase

Dec 10 2015 119,000,000,000 963,731,060 GH/s price 415 d57's predictive peak number

I gave you a catch phrase ppn or predictive peak number.

That sep 04 number was mostly all pre s-7 or .51watt at best gear

So the monster surge has happen or your ppn has come in. this tidal wave if accurate means

407ph of .51watt or worse gear
556 ph of .29 watt or better gear

all that 407ph is now very close to under water if it is at 10 cents or higher. yeah say half of the sept 4 gear was .51 watt and the rest averaged a .75 watt that would be 200ph of gear that will stop making money at the end of this adjustment.

So we have a very interesting dynamic setting up here... will price rise to allow that gear to mine or will a lot of gear drop off next jump.

craslovell

legendary

Activity: 1470

Merit: 1021

That is ridiculous. I've already been pushed out. When you have limited electrical power to expand your mining setup and have enough cash to only run at about 4TH/s with your power consumption you don't have a lot of options.

I'd agree on the purchasing aspect. Unless you have a couple thousand dollars to throw away and it wouldn't hurt you if you never got it back, mining is virtually pointless. It's incredible the small guys can even hang on at all at this point. It's still a great feeling though to know you have machines "busting their balls" for you to make some bitcoin at all hours of the day..

d57heinz

legendary

Activity: 1453

Merit: 1011

Bitcoin Talks Bullshit Walks

Price   417.10 USD/฿
Hashrate   963.73 PH/s
Activity   116 TX/min
Unconfirmed Txs   1,126
Fee Rate   0.00014723 BTC
Fee paid by unconfirmed transactions for every 1,000 bytes of size.

https://chain.so/BTC

as per the wallet
963,731.06 TH/s

Excited that the network is growing along with the price but as a miner im being pushed out Sad

.. So I think my plan now is to buy coins.. With the price seeming to follow diff.. and the halving coming faster and faster.. i feel like a push in price is inevitable. I think at the rate of network hash increase you could profit much better buying coins now than any mining machine can do.. most orders are preorders and i think that is for a good reason.. It will increase 10 - 20 % in diff by time you get miner thus allowing manufactures to bank.. Just my thoughts anyway..

Best Regards
d57heinz

Topic: BTC Network about to hit 1 exahash for the first time over a 24 hour period!!! - page 2. (Read 1987 times)