Topic: BTC Price drop, huge cut in Pool Hash Rate - page 2. (Read 6235 times)
It is stupid to extrapolate about the whole bitcoin hashrate from one pool. There are a few sites that will give you current total hash rate. Use them and know your facts.
Looking at Bitcoins.lc they have dropped almost by half their normal hash rate, usually in the 500 Ghash/s range, this morning it's 279.93 Ghash/s.
Is the round after 43%...?
Your suggesting Pool hopping and not rigs shutting down? Could be, I myself moved elsewhere after the round that took 24 hours.
It's $4.70 right now. Couldn't believe my eyes this morning!
at <5 USD most of the EU and some parts of US are out. You believe it's going up? Buy the damn things 
It's sure is stupid to mine at higher cost than you can buy from the market (if you believe the price will go up)
It's sure is stupid to mine at higher cost than you can buy from the market (if you believe the price will go up) Looking at Bitcoins.lc they have dropped almost by half their normal hash rate, usually in the 500 Ghash/s range, this morning it's 279.93 Ghash/s.
Is the round after 43%...?
The overall hash rate and difficulty hasn't really dropped that much over the last few weeks compared percentage-wise to the drop in bitcoin price. In spite of all the talk on this board about shutting down rigs, it would appear that so far most miners aren't actually doing this. Or, for those who are shutting off rigs, this is offset to some extent by new/expanding miners coming online. I'd love to see the difficulty drop to half of what it is now, but it looks like that won't happen anytime soon, if ever.
I feel like it will take a month of unprofitability for miners to quit.
I don't know about you guys but I find it very telling and interesting to see the huge cut in overall pool hash rates when we get these price drops. Looking at Bitcoins.lc they have dropped almost by half their normal hash rate, usually in the 500 Ghash/s range, this morning it's 279.93 Ghash/s. I don't follow Deep as I only use them as a backup but there's been a drop there as well. For the most part I don't think the single or small miners look at these price moves and go turn off their miner however a miner with 10 cards or more who is slowly selling into the market to cover cost would. If true just goes to show how much of the hashing power is from some fairly large rigs.
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