Topic: Hash Rate just hit 200 000 000 GH/s! - page 2. (Read 10847 times)
That's some hashin'
And price keeps crashing
even in summer this happens is really bad news
We need a price increase in winter or this will get difficult
even in summer this happens is really bad news
We need a price increase in winter or this will get difficult
You can bet on whether the hash rate will exceed 1 exahash/second by the end of 2014.
We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.
Difficulty will go to the MOON!
Difficulty going up is not necessarily good for the bitcoin economy, the price of bitcoin or even bitcoin itself. The main thing that rising difficult is good for is manufactures of miners (as rising difficulty will generally mean they have had higher sales). We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.
Difficulty will go to the MOON!
The danger of having difficulty too high is that if the cost of electricity to run a miner is close to the USD equivalent of BTC that a miner can produce then if the price of BTC were to fall and remain down for several months then miners might start to take their machines offline in mass. This would cause difficulty to sharply decrease, but before that would happen block confirmation times would slow substantially.
Though there is some validity to your statements - you are assuming Moore's law wont kick in, which is actually happening right now with hard ware and electricity consumption of the hash as well - and necessity is also the mother of all invention, difficulty goes down... BTC goes up... miners come back online.. Satoshi thought this thing through to levels we haven't even looked at
You can bet on whether the hash rate will exceed 1 exahash/second by the end of 2014.
We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.
Difficulty will go to the MOON!
Difficulty going up is not necessarily good for the bitcoin economy, the price of bitcoin or even bitcoin itself. The main thing that rising difficult is good for is manufactures of miners (as rising difficulty will generally mean they have had higher sales). We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.
Difficulty will go to the MOON!
The danger of having difficulty too high is that if the cost of electricity to run a miner is close to the USD equivalent of BTC that a miner can produce then if the price of BTC were to fall and remain down for several months then miners might start to take their machines offline in mass. This would cause difficulty to sharply decrease, but before that would happen block confirmation times would slow substantially.
You can bet on whether the hash rate will exceed 1 exahash/second by the end of 2014.
We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.
Difficulty will go to the MOON!
We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.
Difficulty will go to the MOON!
Greed makes people crazy.
When you look at the videos on youtube about the biggest mining farms, it's insane.
Something like this: https://www.youtube.com/watch?v=ELA91d_mx80
Whoa, 8 million USD of Bitcoin being mined per MONTH. Holy moly, that guy is gonna be RICH when btc hits the moon.Something like this: https://www.youtube.com/watch?v=ELA91d_mx80
No, that was from March 2014 and they filmed the segment in Feb. Difficulty was around 7 or 8 billion during that time. The "8 million a day" was during the 'gravy month' of december when it was over $1000 a bitcoin. March was a different story. Source: I worked there.
You can bet on whether the hash rate will exceed 1 exahash/second by the end of 2014.
We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.
Difficulty will go to the MOON!
We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.
Difficulty will go to the MOON!
All of this power! It's the highest I've ever seen in any sort of thing which used computer power.
All of this power! It's the highest I've ever seen in any sort of thing which used computer power.
We need to just make it go towards something I think, nothing wrong with PoW as an idea, I'd say we need more stuff like CureCoin and Primecoin
You should probably read this: http://trilema.com/2014/the-woes-of-altcoin-or-why-there-is-no-such-thing-as-cryptocurrencies/ The future is in PoS, there's too much energy wasted in PoW...
We need to just make it go towards something I think, nothing wrong with PoW as an idea, I'd say we need more stuff like CureCoin and Primecoin
Well, just hashing BTC does bring in BTC in trade of energy. I know there are some coins out here that actually use the hashrate. That makes the energy wasting quite less, as it actually brings some benefits with it. For example, use the hashrate somehow to calculate really hard math calculations, or to found out of really heard math calculations appear to be working (as there still are some math calculations that no one has solved yet / can explain yet). I'm sure there are more ways to spend the huge hashrate usefull.
200 000 000 Gh/s is really a lot. I'm afraid this will hit the difficulty hard to. However, maybe this is going to increase the price of BTC or does it work out somehow positive on the BTC.
When you look at the videos on youtube about the biggest mining farms, it's insane.
Something like this: https://www.youtube.com/watch?v=ELA91d_mx80
Whoa, 8 million USD of Bitcoin being mined per MONTH. Holy moly, that guy is gonna be RICH when btc hits the moon. Something like this: https://www.youtube.com/watch?v=ELA91d_mx80
I need to sharpen my pencil but I don't have time! These cheaters have no respect for those of us who are still using paper!
Very cool milestone. Hard to believe how much different the mining landscape was in year intervals going back from today.
What I don't understand is why would anyone would pay for cloud hashing? They don't control the miner so they aren't benefiting the network by decentralizing the hashing power and they would profit greater simply by buying Bitcoin directly.
a lot of them are ponzi schemes. PBmining has to be the most blatant ones out there. they claim to have close to 2ph but dont have one photo, but they magically keep climbing in hashing power, the more that is purchased the higher they go, its like they have an unlimted supply..
Gavin Anderson actually said that most of these types of miners are ponzis...I wish i had the link but i think its on his blog..
ASICMiner is rolling out a new farm with the purpose of pushing the competing farms into the red. It is a war of attrition now. Amateur miners are just collateral.
And, don't forget that KnC has three mega-Pharms in The Node Pole, each having ~7,000 fully-functional miners each.
Yeah it has become pretty gruesome - I had predicted mentally a hash speed of 400-500 Peta by December, all in the hands of 4-5 hardware giants.
What I don't understand is why would anyone would pay for cloud hashing? They don't control the miner so they aren't benefiting the network by decentralizing the hashing power and they would profit greater simply by buying Bitcoin directly.
ASICMiner is rolling out a new farm with the purpose of pushing the competing farms into the red. It is a war of attrition now. Amateur miners are just collateral.
And, don't forget that KnC has three mega-Pharms in The Node Pole, each having ~7,000 fully-functional miners each.
I thought it would be years and years before we hit exohash, but it looks like that could happen in the next year or so.. this is just incredible..
When I was just getting into purchasing asics, yes, I preordered and waited a year. I did worse and best case scenarios, I never thought we would get to 1k per coin, but i thought 1 petahash would be worse case scenario for the first year of asic mining..
If bitcoin hadn't hit 1k per coin and we were still 20 bucks or lower, Id still be in mining and most of early, lower budget guys would be making a nice living...
while I like the price being in the hundreds of dollars, I hate the fact that businesses with deep pockets seized the opportunity..
When I was just getting into purchasing asics, yes, I preordered and waited a year. I did worse and best case scenarios, I never thought we would get to 1k per coin, but i thought 1 petahash would be worse case scenario for the first year of asic mining..
If bitcoin hadn't hit 1k per coin and we were still 20 bucks or lower, Id still be in mining and most of early, lower budget guys would be making a nice living...
while I like the price being in the hundreds of dollars, I hate the fact that businesses with deep pockets seized the opportunity..
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