Topic: What the heck just happened to the hashrate? (Read 5510 times)

Or tigercoin ( )
188% vs btc

if it drops, its because people jumped over to unobtanium with the price spike there.

let it go doooooown

Its all a big scam. All the manufacturers and big money people are mining weeks and months before the equipment is even released to the public, if ever.   And dont even speak about the pre orders. 

  At bitcoin.sipa.be, 'computation speed growth' chart just got a new y label: -0.5% per day!

difficulty will rise more, newcomers buying "for fun", big guys are either "testing" their own asics or buying more.

no the difficulty it still scheduled to be 100 billion by Christmas.

I guess you didn't read this part of my post: "I do believe it is still possible to profit mining new coins".

Poor man here, low life noob n all. Bought 4 5970s from ebay @ $280 each, bought 4 Pcie motherboards from OP shop for $15 each, paralleling my 2 800W psu's with 2 400w psu's
Total cost= $1400nz
Mining clever, VTC KDC UTC MAX & bit of DOGE inbetween gaps
Converting to LTC then BTC if current price suits .
 Averaging 0.394BTC per WEEK! from $1400nz investment
Hahaha, I is the noob ?   And if it goes tits up, Im pretty sure of getting minimum $600 back from the GPU's
Risk $700nz, Earning $250 p/wk currently (no risk) Need more GPU's

Which is when "everyone" got into Bitcoin mining. It's interesting to contemplate.

C

Today this rule is definitely working... only half-year ago you would've been wrong

Well i think it's just you   just look at the chart by yourself here

Give it a few days more, and we'll see 

That looks more like a variance spike.

Just happening now, about 3 Petahashes added within 3 days...

So he had investors sink a lot of money into a purpose built datacenter that will make it all back once "new chips" come in "March".

Oh yes, that's going to work out well. :-)

cool new lol how long till these are ancient? 18 months? not having a go, just dumbfazzled by the speed of change

The immersion cooling doesn't stop the chips from being ancient power-guzzling 128nm lol. Just to repeat, for the last time, the cool new immersion-technology is for the mega new AM chips coming online in March.

Umm..that's almost 2 months old.

ancient technology lol like metal coins, horsedrawn carts

Those cubes were funny. Trying to get the last bit of hashing "power" out of ancient technology.

Sold my AM Cubes (they were using 430 watts OC) at 38GH  for an antminer (380 watts stock) at 180 GH     besides it would take 6 cubes to equal one ANT!

*looks over at his Single/25 hashing at 50gh
*looks over at his 8 chip jalapenos hashing at 30gh each.

Really? News to me.

C

I should have posted a link to the article when I posted that picture. I didn't think it would need explanation here.

Anyway, that's what happened to the hash rate - industrial sized Bitcoin mining plants. Profitable mining in your parents' basement is over.

Yep, the guys should dunk GPUs in the tanks and mine CATCOIN!

C

That's why you mine betacoin trust me

Cool thanks.

Just to point out though, AM built these things for their next-gen chips coming out in March:

https://bitcointalksearch.org/topic/annasicminer-publicly-looking-for-potential-customerspartners-for-new-chips-438359

Their current blades etc. are terribly power inefficient.

Agreed. 

You are right.  For example to overclock a Asicminer Cube 27% needs 50-55% more power.  To OC Antminer s1 10% needs 20% more juice.

I guess because the lifespan of ASIC chips are so short 3-6 months it becomes old design and not as efficient trying to power the crap out of them in the short term is cheaper than Capital outlay for another chip which becomes a depreciated asset quickly.  

Technically speaking, the guy should start under-clocking his chips as difficulty grows. Power use skyrockets at a certain point on the hash/space timeline, I'm fully intending on slowing my super-clocked jalapenos and singles down in the spring (reduce heat) and in the summer (so I can run them on solar arrays).

AT which point his cooling rigs become a liability. Whatever, investors need places to waste money.

Here ya go:  http://money.cnn.com/gallery/technology/2013/12/17/bitcoin-mine/5.html

Will try to look.

Do you think tens of thousands of liquid cooled asic chips probably running OC'd should have a lower monthly electricity bill?     Not so if they can mine 20-30 BTC a day.

Dumbest. Idea. Ever. Like taking a Porsche and encasing it in concrete.

As for the jump? That's just me adding chips to Jalapenos. Sorry for the confusion :-)

Which article is that where he quotes the electric bill? Love to see it. I follow FC very closely and have not seen this interview.

The owner said it in an interview. Not in this article, another one.  Thats not even alot,  500 Gen 1 Avalons would pull an electricity bill like that.

And you know that how? Or just plucking figures out of the air?

This the one using the 3m liquid emersion cooling?  Electric bill is still like 50k a month

aka Avalon

And how much hashrate does that produce. Get real...... they only solve a few blocks a day at the moment.

its just you. Its about to explode after the Chinese new year.

Is it just me, or is the hashrate starting to stagnate a little bit?

They already deployed this using V2 Blades...

If only that were true. ASICMINER hasn't even done a tapeout of their new chips yet.

you're doing it wrong then

most of my equipment has paid for itself and funded growth. I went from 25GH on a bitfury starter kit to 1.65TH predominantly antminers

Rule #1 Don't get into Bitcoin mining to make a profit 

This happened.

That's a custom-built Bitcoin mining facility in Hong Kong, with tens of thousand of liquid-cooled ASIC chips.

Hashrate jumps up dramatically right after difficulty change. Watch first 2-4 hours after the difficulty adjustment. You'll see that sometimes rate rises higher then 50% for a short period of time.
Last time i saw 22PThashes. Sounds crazy.

What if you buy bitcoin with your $900 budget now, you can get ~1.2 bitcoin (~$750 on bitstamp atm).
And if BTC goes to $10,000 (your $10,00 was a typo it seems), you will get yourself $12,000 (much better than 6500 minus electricity fee).


No offense, but if your mining profitability comes from the expected uprising bitcoin price, then you should just buy btc directly and forget about mining.


And don't take me wrong, mining is fun and I really enjoy my experience with mining.


Yup, it is very profitable to sell (or scam ) pre-orders, and mining scrypt-based coins is still profitable now.

It is true.

I was considering buying about 75GH/s for about $900 off ebay. If I received them today and mined with them into May I would only be able to get about .74 BTC if difficulty continued to rise at ~23% each 9-10 days. By May 4th difficulty will be just over 20billion. If price stayed the same, I would earn  ~$625 in BTC. This means I would be $275 in the whole and that is not including pool fees exchange fees and most importantly, electricity.

But you say what if BTC goes to $10,00 by May? Well I will have accumulated $7400 minus the $900 on equip plus electricity and fees. Thus netting me just over ~$6300.

Now let's look at what would happen if I spent that $900 on BTC today. I could buy about 1.15 BTC today for $900. If BTC went up to $10,000, my BTC would be worth $11,500. I spent $900 so I would net over $10500 in profit.

Now let say I want to buy a 2TH/s miner from Black Arrow that I won't get until May. The price tag is $5900. At the expected difficulty over 20 billion I would be able to mine .049 BTC per day. It would take 10 days to mine 1/2 a BTC and then the difficulty would adjust against me.  I would lose money if the price stayed the same. If it went to $10k, I would make my money back after 2 weeks of mining. But if I bought $5900 in BTC today, ~7.5 BTC and it goes to $10k  I would profit $69,000 by May.

Mining is not profitable on BTC. Unless you are one of the ASIC mining developer. Then you can stay ahead of the curve by doing the preorder garbage they do.

I do believe it is still possible to profit mining new coins.

This is not true. You do not know what the difficulty or exchange rate will be at any given time in the future. You are guessing and presenting your guess as fact.

it can't double every 45 days forever.

All these preordered units will be worthless when they actually arrive. Unfortunate for the newbie miners, that ship has sailed.

Exactly.

We don't really know how much hashrate are there mining bitcoin at this moment.
What we can do, is to check the number of blocks found in a certain period (say, 8 hours or 3 days) and estimate the network hashrate.
The shorter the period, the more the variance.

After all, block finding is a random process. We can have 6 blocks in an hour, or no block in 2 hours, but the variance should cancel out (more or less) if we observe the situation over a longer period of time.

bitcoin difficulty  and hash rate will double every 45 days.
look at the bitcoin difficulty and hash rate predictions at this page .

http://www.vnbitcoin.org/bitcoincalculator.php

I was asking same question months ago, until some smart ppl explained not to look at hourly estimates. It's variance. Otherwise, you can right now ask 'what the heck just came offline' - as bitcoin.sipa.be 8-hour chart is showing 13ph/s.

The manufactures need to do "extensive" testing until the units are stable enough / until mining with those units is no longer profitable

Pre ordered miners that the buyers will not see for months are in 'testing' mode.

Brace yourself, this years ASIC shipments are rolling out.

todays shipment of Antminers

Would anyone care to speculate on how the hash rate suddenly jumped to 20PH? What the heck just came online?