HUGE jump in global hash rate today! 222.000.000+ GH/s

joust

sr. member

Activity: 350

Merit: 250

I posted this on the other thread, but "one jump does a trend not make".

Graphing BCW's raw data and adding a '5ht poly' trend line shows how little this jump really has changed things.

On a 5th polynomial trend line (the blue dahsed line) it's still downwards, and that's hardly surprising as the last 4 changes have averaged at 9.33% compared to the previous 4 before that at 17.5%, the previous 4 to that at 15.39%

And of course we are in a far better place than late 2013 (just look at the relative difference between the blue line then and now!)

But then it depends if you are looking at this long term, or 'quick buck'.

J
www.megamine.com

xstr8guy

hero member

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Glow Stick Dance!

Just wait. The chart will dip back down when the lucky streak is over. Maybe a fraction of that is a new DC but we'll probably never know for sure.

But I do think we are in for an extended period of +20% difficulty adjustments. Most home miners are breathing their last gasp. I have cheap natural gas heating so I won't even be running miners for heat this winter. Sad

cisahasa

legendary

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that was me just warming new miners

taipo

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Kia ora!

Miners make the worst traders. Too emotional.

bbxx

hero member

Activity: 728

Merit: 500

cryptoshark

Quote from: DrG on August 20, 2014, 01:52:11 AM

Miners spent the entire last 1/2 of 2013 and first 1/2 of 2014 throwing money at ASIC vendors. Those vendors are now putting up their own farms with those resources. Not just Bitmain. Not just KNC. Not just Cointerra. The whole lot of them (sans maybe the black sheep BFL).

and they are dumping btc at exchanges every day.
they are killing bitcoin

DrG

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Miners spent the entire last 1/2 of 2013 and first 1/2 of 2014 throwing money at ASIC vendors. Those vendors are now putting up their own farms with those resources. Not just Bitmain. Not just KNC. Not just Cointerra. The whole lot of them (sans maybe the black sheep BFL).

davejh

full member

Activity: 136

Merit: 100

Quote from: bozo333 on August 19, 2014, 07:16:57 PM

This does not forebode well my friends.... Cry

https://blockchain.info/charts/hash-rate?timespan=60days&showDataPoints=true&daysAverageString=1&show_header=true&scale=0&address=

The better way to look at these stats is on a log plot rather than linear:

https://blockchain.info/charts/hash-rate?timespan=2year&daysAverageString=1&scale=1&address=

On the log plot things show up as being within observed variances for 24 hours in the last 12 months. During the past 2 years there have been many similarly large day-to-day spikes. I ran some statistical analysis a couple of months ago that showed 3 days in the previous 12 months where the hash rate spiked up by 25% or more for 24 hours. This isn't to say that this might not be a much larger spike, but that a single day's data isn't enough to really cause concern

jonnybravo0311

legendary

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Mine at Jonny's Pool

Quote from: bozo333 on August 19, 2014, 07:16:57 PM

This does not forebode well my friends.... Cry

https://blockchain.info/charts/hash-rate?timespan=60days&showDataPoints=true&daysAverageString=1&show_header=true&scale=0&address=

I'm not sure how much I believe that the network suddenly spiked 50PH/s in the past 36 hours. The network hash rate showing on other places is currently at or around 185PH/s.

Quote from: philipma1957 on August 19, 2014, 09:26:06 PM

Well could be a lucky streak. Or bitmaintech has developed s-4's that are 2th at 1200 watts. They choose to mine them until sept. 20 or so before the sell them.

Maybe bfl finally made the monarchs in large amounts and is self mining them. Back to back 20% jumps will be hard. I did not think it could happen but what do I know.

Even if Bitmain has secretly developed the S4, do you think they have the capability of deploying 15000 of them at once? They just happen to have a 20MW facility sitting around idly waiting for them to throw hardware into it? BFL? Please... they couldn't hit the ground by falling, let alone suddenly throw that kind of hash rate out there.

Let's all relax and see how things are evolving after 1000 blocks or so.

philipma1957

legendary

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'The right to privacy matters'

Quote from: cloverme on August 19, 2014, 08:01:20 PM

Quote from: bozo333 on August 19, 2014, 07:16:57 PM

This does not forebode well my friends.... Cry

https://blockchain.info/charts/hash-rate?timespan=60days&showDataPoints=true&daysAverageString=1&show_header=true&scale=0&address=

What on earth caused that? There was a jump earlier last week, but not sure if these two events are related or not. Ah man, you're right, this does not look good for the difficulty rate and the decline of BTC/USD at the same time.

Well could be a lucky streak. Or bitmaintech has developed s-4's that are 2th at 1200 watts. They choose to mine them until sept. 20 or so before the sell them.

Maybe bfl finally made the monarchs in large amounts and is self mining them. Back to back 20% jumps will be hard. I did not think it could happen but what do I know.

cloverme

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SpacePirate.io

Quote from: bozo333 on August 19, 2014, 07:16:57 PM

This does not forebode well my friends.... Cry

https://blockchain.info/charts/hash-rate?timespan=60days&showDataPoints=true&daysAverageString=1&show_header=true&scale=0&address=

What on earth caused that? There was a jump earlier last week, but not sure if these two events are related or not. Ah man, you're right, this does not look good for the difficulty rate and the decline of BTC/USD at the same time.

philipma1957

legendary

Activity: 4256

Merit: 8551

'The right to privacy matters'

well comes done to this. BTC to USD must jump for smaller miners or they will go buy buy.

I say USD only because I pay my power in USD.

If you pay your power in Euros then BTC to EUR must jump

bozo333

sr. member

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