Bitcoin Forum

Hey!

Just to tell you. in 1 day, difficulty and hashrate skyrocketed from 230.000Gh to 240.000Gh. 10.000Gh is the equivalent of 333.333 GPU's (30Mh/s capable). That's too much. Way too much. i don't think not even big farms can push that on the network.

But, the weirdest thing i've ever seen has happened just 10 minutes ago, When hashrate was reduced from 241.000Gh to 235.000Gh and then from 235.000 to 245.000Gh right now (10:01 AM in Spain). WTF is going on here???

It's obviously normal to see many people switching to ETH when the market goes down, but to see the market hashrate increase and decrease in 10.000Gh up or down without variation for me is a clear sign of alarm, becase that amount of hashrate can only be done by ASICS and probably Bitmain is behind that.

BTW in this forum, talks a lot of people, and it's difficult to make people aware of your predictions, but i clearly said sometime ago, that i had been told that when ETH touched the 700€ range, there were a huge amount of sell orders placed. a huge one. And FYI ETH price is going to go down a lot, because as price goes down, automated stop losses are being activated. The hardest hit will come when ETH goes below the 700$ range.

as prices go down, more people switching to ETH increases the Difficulty of the coin, so miners lose more than just the oversell of the coin.

I was under the impression that the current uncertainty surrounding Ethereum and hence the price tailing downwards is the interference of the US based SEC and whether they want to label it a security or not.

This is quite disturbing and such changes affect prices a lot. I mean looking at the market, prices dropped so much in a couple of hours and not it is picking up again and the issue with the hashrate is definitely alarming, I believe not that someone is definitely manipulating ethereum which means that the next dip is the prices will be nothing short of brutal. This is not good for ethereum holders.

when you give the miners the "choice" of making more profit they will take that choice anytime and as fast as they can. and when a pumped altcoin is getting dumped like this the miners will immediately switch to mine another coin which can give them more profit.

there are novice miners that don't know how things work so they stick around which is why the hashrate drop was not as big as it should have been.

You have observed the situation very well and yes it is really disturbing. This is having much effect on the price of etherum making the market more inconsistent. Someone is really manipulating the market and this might effect negetively for etherum investors.

Bitmain most likely owns a worrysomely large portion of mining for all currencies. So from that front I wouldn't be surprised.

What you should also takei nto account is that most ETH is locked up in smart contracts from ICOs and stuff. As time passes more and more of this ETH will become available. Take into account that EOS alone has raked in over 5 million ETH. They themselves have the ability to cause a massive price swing. Imagine if they sell that all off over a week to buy EOS tokens what the price of ETH would do?

You should not complain about it much, in crypto there is too much manipulation everywhere and for most coins, there are strong companies, people have the ability to manipulate coin, but at least we mostly know who they are  :)

As far as I can tell, Wall Street Journal was first to publish the fake news about the "SEC Etherium decision".  Article was published without citing any sources.

I also have found same scenario and it is disappointing. ETH market was being stable from last few weeks and this kind of situation will affect the market negatively.

I am not sure if it is completely true or you just got the observations from somewhere but the ETH difficulty is fluctuating all the time. Last month I had at least three observation like this when network difficulty was suddenly dropped a lot. But to be honest this not the case related to manipulation or something but it is all about the big farms of mining rig going down under maintenance or we can say that scheduled maintenance and thus making it move by that much hash rate which you depicted in your post.

In current situation ethereum is not good position in the market and their price also fall down. That’s why I think something is wrong with ethereum.

there are rumors that the market is ruled by large whales.  but I think there are these whales are banks that are silent about their investments in the crypto currency.  and they have very large teams that manipulate

I think Vitalik is also not a stupid person, and he just will not give his Ethereum offense to the USA authorities

The capital market will be operated. I don't think it should be very strange, but the market is moving in the right direction, isn't it?

no i don' think sow , this drop is due to the fud caused by the Sec and the scandale around the creator of ethereum

If it is true than it is very annoying because for this ETH price is going up and down. It is very frustrating for the user. I hope this type of problem will be solved very soon.

These games are stable. Every time they want to bother us, I do not even doubt if he falls below 700, everyone will think that he is already falling, and then he will grow to 1000

I do mining ethereum for 6 months. Whenever the slight bump started on ethereum. We use to see the hashrate fluctuations in the any mining pool then they mining efficiency will reduce to very cheap mate.
Personally I do not believe ethereum has been manipulate by anyone.
You may check the XRP price changes. That shit coin only manipulate and operate some certain people. Ethereum purely upon the marketplace movement.

I don't care whether someone is manipulating Ethereum besides it is an old issue even in Stock market. As long as you get a good profit and you are updated with the current situation, you don't have to worry about it. Besides this news is part of FUD and manipulation too.