Topic: I'm a little surprised the Network Hash Rate isn't Lower - page 2. (Read 814 times)
BTC at usd 1k pays the power costs at 5c/kWh and current difficulty [on an S9]. I wouldn't expect to see any significant slowdown in mining until we get near those levels.
There are a handful of theories floating around that the diff adj is being "attacked" ie: forced to keep rising to price out a lot of people from mining. Some of these theories have a little credibility, probably worth poking around some.
I kinda thought bandwagon, too. Crikey. 20% increase since this thread started 6 hours ago. That's something like 300,000 S9s. Anybody notice the lights flickering?
What is the 20% that you are referring to? It's important to understand that there isn't some kind of "global hash rate meter". Any website that provides an ESTIMATE of the current hash rate is doing that based on recent block solve rate. In other words how quickly are blocks being solved. From that, the estimated hash rate is calculated. How many blocks to you use in that calculation? One, Ten, One Hundred? The difficulty adjustment is based on how long it took to solve 2016 blocks. During that interval, there can be wild swings, even if the final adjustment after 2016 blocks is quite small (even zero).
Of course there is new gear being switched on all the time. Stuff that was sold and just arrived (from Bitmain, Ebay, Bitfury, where ever) is going to get turned on. Nobody buys a miner and then doesn't switch it on for at least a while. It takes quite a while for miners, large or small, to turn off mining gear they have already paid for based strictly on BTC price.
Well bitmains sales are going to drop off if the price BTC stays down long enough. It’s falling like a rock right now. I guess we will know when an S9 is no longer sold out. This might put a hurtin on Canaan’s 821 sales.
Maybe those idiots on eBay that paid 5-6k for an S9 back in December/January will be selling them for $1400?
That is **exactly** the equivalent to the plebs that bought at $19k and sold at $11k...
Maybe those idiots on eBay that paid 5-6k for an S9 back in December/January will be selling them for $1400?
There's a certain amount of inertia that will have to be overcome. Bitmain certainly is not slowing down shipping. They are clearing the shelves as fast as possible.
So I've heard. Well, maybe we'll see a bunch of low-priced S9s on eBay before long. I kinda thought bandwagon, too. Crikey. 20% increase since this thread started 6 hours ago. That's something like 300,000 S9s. Anybody notice the lights flickering?
There's a certain amount of inertia that will have to be overcome. Bitmain certainly is not slowing down shipping. They are clearing the shelves as fast as possible.
I kinda thought bandwagon, too. Crikey. 20% increase since this thread started 6 hours ago. That's something like 300,000 S9s. Anybody notice the lights flickering?
Just like the herd started buying BTC in November, everybody and their brother decided they were gonna mine to make magic free money. Well, just as the dip is shaking out the herd investors, it will shake out the people who thought they could park an S9 in their office...
Based on previous replies, I get why it's not going down. But it baffles me that it keeps going up. I just looked at the Bitcoin Stats site, and it shows 24-25 EH, time between blocks 6.9 minutes! Guaranteed difficulty increase again this week. Where is this coming from? 
Well, difficulty will be lower in a few months if this is the start of the bitcoin bubble bursting. if it's anything like the previous bubbles, it's going to last 1-2 years. So the big mining farms will start shutting down unless they have free electricity. Then the difficulty will start going down.
Everything was rosy in 2017 including the stock market. People thought they were geniuses trading stocks or cryptos and making money hand over fist. Well, the party's over and it's time to pay the piper.
Everything was rosy in 2017 including the stock market. People thought they were geniuses trading stocks or cryptos and making money hand over fist. Well, the party's over and it's time to pay the piper.
Give it six to nine months when companies go belly up due to cash flow issues. Most companies have 2-3 months of working capital then they would have to liquidate whatever they mine or to sell their equipment to pay the rent.
Most people dont think the sky is falling after 3-4 days of price drops and pull the plug on entire datacenters. You realize how many machines would have to be switched off to make a dent in the global rate right?
It actually came back up a little bit to over 20EH. Im sure most people consider this fall to be temporary. I do. I figured the people that were in it just to make the easy money would have pulled the plug by now. At this price its almost better to just buy btc than mine it for an investment.
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