Topic: ETH network hashrate at unseen numbers. (Read 338 times)

Perhaps Bitmain or another Chinese manufacturer has figured out how to make real ETH ASIC miners, and not the ones that are pumping out only 180 mh/s.  Looking at the chart, I don't see the 10GH increase that you speak of. It seems to bounce around, up and down, as usual. The trend is UP for network hashrate, as it's been for months. My guess is that we are just continuing to see more GPUs added to the network every day.

Network hashrate on March 26 was 271000 GH, today it was 273000 GH. Not much increase.

This quote is exactly the thinking of someone not seeing a bubble.

Prices DO NOT ALWAYS GO UP..... I invite you to  look at 2008 housing bubble in the US if you need to study any economics.

It had the same doubling effect in June '17 - September '17. Doubled within that few month period. This is not unheard of or unprecedented. In fact this happens fairly regularly, and we are not even in a time of particular acceleration at the moment. January through March saw some pretty large increases, but then it actually decreased and has remained pretty consistent since then. Of course the hashrate is at "unseen numbers", because almost always there is new equipment being developed and hardware being added to the network. So the hashrate will be consistently increasing, even without an increase in adoption or a growth in the amount of miners there are.

In fact, it seems like every few months since January '17 the hashrate has been doubling, so I have no clue which part of this is surprising to you.

Nothing per say, if you like mining a coin that is not in the top 5 profitable coins.

None of which you say are true, except the block reward for ETH at a later point. Not anytime soon. ROI for GPUs is at 8 months at current prices. You are a fool to think prices will stay the same. Prices always go up over time. The 8 month ROI will eventually become a month month ROI as the investments go up in price.  I don't think many GPU miners mine ETH since January - ETH was taken over 50% by Bitmain in December. Its all about RavenCoin now a days anyways.

Proof?

I'm mining ETH, what's wrong with it? 

This place is chaos lately.

Dude, bitmain adds ~25 ASICS per day to ETH hashrate. They already own at least 35% of all ETH hashrate. Can't believe people still mining eth.

I do not agree, many large currencies are being centralized. But many others are revealing themselves against this tendency reviving the rebellious spirit of satoshi nakamoto

Many of these anti-asic centralist currencies like montero and bitcoin gold are fluctuating in their own way.

When the ethereum is unviable for the gpu's you will begin to mine these coins, making their prices excessively high

And if for some reason the developers of monero or bitcoin gold sell themselves to Antminer (which I doubt very much) then some new anti-asic currency will come out

Because that is the goal of satoshi nakamoto. That each person can create their own currency and that groups of people decide by their criteria whether to trust them or not

It is all but guaranteed to be Bitmain bringing their ASICS online. They received the GDDR5 shipments awhile ago at this point.

Mine your ETH while you can and quit complaining. There are many events now in motion that will make mining ETH all but impossible a year from now.

Public release of ASICs coming at the end of July, quite a few were sold at $800, all of these will come online basically all at once. This does not even include all the secret ASICs running currently.

Fools continue to buy and build GPU based rigs, not realizing they will never ROI, at least not with Ethereum, Zcash, or any of the other algos that Bitmain has developed an ASIC  for.

With the upcoming transition to POS, the mining reward for ETH will be reduced once again, this time going from 3 ETH per block down to .6 ETH per block. Eventually mining reward will go away completely.

Once this finally does phase out, the remaining coins and algos that can still be GPU mined without ASIC competition will be very few and all those GPUs will need to point somewhere. The days of easy gains and paying off your hardware investment in a few months are over and will not be returning anytime soon, if ever.

Just be glad you got to participate while you could, but from here on out only the big boys with multi-million dollar plus farms consisting of the latest hardware coupled with private mining software and cheap electric contracts of a few cents per KWh will be able to make a go of it. You may have another year to play around with ETH and a few other profitable coins, but I really do not foresee profitable home mining continuing much past that.

It’s not gpu that are mining at these insane increases. This is FPGA always from the get go. This is how it works.  Trick us into buying sub par gpu all the while mining with high end FPGA/ASICS.  If you think the coin has a future just buy it instead.  Otherwise don’t waste your time trying to compete with people that have more money than brains

Hello.

the difficulty, due to hashrate increase is at unseen numbers. Never ever ETH had such difficulty as now. From 1 week ago to today, i've lost arround 0,05 ETH per month with the same hashrate.

More over, i still remember when in December 2017, the network hashrate was about 130.000Gh/s. Now it's at 247.000€. Has almost doubled in 5 months. WTF........ Even having an astonishing increase in GPU prices, people still bought them with no problem. 

Now, we are facing another issue. Yesterday, arround 10.000Gh entered ETH in a 10 minutes period. That's about impossible. Or.....is it?? Bitmain is still farming ETH with ASICs, almost sure they have machines capable of far more than the announced one.

And some more things.

There is a huge automated stop loss in the 680$ range. 700$ is a barrier between bears and bulls.