Not to sound too negative here, but it is such a waste of money and energy!
I read through Satoshi's posts in the last week or 2, and he didn't want people racing into GPU mining, because CPU mining is much fairer and everyone can do it.
Now we have these super-farms that cost millions of dollars to set up and run, when they peform the same task as my home PC could do, i.e. confirm the transactions.
The increase is obviously price dependent too, maybe when the price rocketed the miners saw an opportunity to buy new equipment and still make a profit. They are on razor thin margins otherwise, it isn't a job I would fancy doing!
I read through Satoshi's posts in the last week or 2, and he didn't want people racing into GPU mining, because CPU mining is much fairer and everyone can do it.
Now we have these super-farms that cost millions of dollars to set up and run, when they peform the same task as my home PC could do, i.e. confirm the transactions.
The increase is obviously price dependent too, maybe when the price rocketed the miners saw an opportunity to buy new equipment and still make a profit. They are on razor thin margins otherwise, it isn't a job I would fancy doing!
Part of the jump is older gear that gets fired up.
The s-7 makes good money if you have 6 cent power.
If btc price dropped to 700 I would think a big drop in hash would happen.
