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Title: Bitcoin lost >50% of hashrate, what happened ? Post by: TTM on March 30, 2014, 04:16:40 PM https://i.imgur.com/P6Bv9iY.png
https://blockchain.info/charts/hash-rate Update: Hash rate returned to normal now, it seem there was an error at Blockchain.info Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: DeathAndTaxes on March 30, 2014, 04:20:53 PM No it didn't.
http://bitcoin.sipa.be/speed-lin-10k.png I find it funny that blockchain.info has had numerous errors, glitches, and other problems over the last couple weeks and people treat it like the word of god on stone tablets. Lets see: blockchain.info says hashrate was instantly (as in a vertical downward line) cut in half nobody else is reporting that block times haven't suddenly doubled to 20 minutes on average what is the likely reason for that? Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: sbabe on March 30, 2014, 04:22:57 PM Because of price drop. At this current price mining is not profitable.
Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: NickPortland on March 30, 2014, 04:23:10 PM https://blockchain.info/charts/hash-rate Is this related to recent incident of Auroracoin ? What "incident of Auroracoin"? And how does it relate to BTC hash? Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: irrational on March 30, 2014, 04:25:23 PM I noticed that the ZeroBlock app is reporting a block time of 17 minutes, but being on my phone I haven't been able to verify how they've come to this conclusion.
It seems reasonable that they could be estimate block time based on network hash rate as reporting by blockchain. In which case, this is explained by DeathAndTaxes. I'm just not sure where they're (ZeroBlock) is pulling their info from. Be nice if it was true :D Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: 5thStreetResearch on March 30, 2014, 04:31:06 PM https://blockchain.info/charts/hash-rate Is this related to recent incident of Auroracoin ? What "incident of Auroracoin"? And how does it relate to BTC hash? I believe it was forked multiple times and its pretty much game over now. Also dont see how this relates to the BTC hash. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: khjghki44f on March 30, 2014, 04:35:07 PM Who know what is going on? Whether it is a rumor.
Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: TTM on March 30, 2014, 04:35:15 PM I believe it was forked multiple times and its pretty much game over now. Also dont see how this relates to the BTC hash. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: gmaxwell on March 30, 2014, 04:37:26 PM BC.i is just broken, yet again.
Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: Singlebyte on March 30, 2014, 04:38:08 PM I believe it was forked multiple times and its pretty much game over now. Also dont see how this relates to the BTC hash. Aurora is a scrypt coin.....has absolutely nothing to do with bitcoin hash rate. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: DubFX on March 30, 2014, 04:55:59 PM There isn't any drop in hashrate...stop panicking people!
Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: TTM on March 30, 2014, 05:04:17 PM There isn't any drop in hashrate...stop panicking people! blockchain.info chart 30 minutes ago: https://i.imgur.com/P6Bv9iY.png it seems there was an error, everything back to normal now. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: Beliathon on March 30, 2014, 05:08:31 PM BC.i is just broken, yet again. Yep. People are putting way too much scrutiny on a very new piece of software that is in development as we speak.Most bitcoin-related applications are still 0.X state. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: Rannasha on March 30, 2014, 05:10:02 PM I noticed that the ZeroBlock app is reporting a block time of 17 minutes, but being on my phone I haven't been able to verify how they've come to this conclusion. It seems reasonable that they could be estimate block time based on network hash rate as reporting by blockchain. In which case, this is explained by DeathAndTaxes. I'm just not sure where they're (ZeroBlock) is pulling their info from. ZeroBlock is owned by Blockchain.info, so it would make sense that they pull their data from there. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: DubFX on March 30, 2014, 05:11:47 PM There isn't any drop in hashrate...stop panicking people! blockchain.info chart 30 minutes ago: https://i.imgur.com/P6Bv9iY.png it seems there was an error, everything back to normal now. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: vpitcher07 on March 30, 2014, 05:26:12 PM I've seen this exact thing before with the market cap graph. It's a glitch from blockchain.info...We will definitely see a decrease in hashrate due to this price drop but not that severe.
Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: Singlebyte on March 30, 2014, 05:41:32 PM I've seen this exact thing before with the market cap graph. It's a glitch from blockchain.info...We will definitely see a decrease in hashrate due to this price drop but not that severe. Mining rate is still holding strong so far. It's up almost 20% since last adjustment. https://bitcoinwisdom.com/bitcoin/difficulty Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: Zimbabwecoin on March 30, 2014, 05:47:54 PM I only wish the hash rate dropped in half. Mining is so much slower than it was not too long ago..
Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: roslinpl on March 30, 2014, 06:09:06 PM well this is interesting, maybe some China miners are switching off their rigs? :)
or just some bug ... Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: DubFX on March 30, 2014, 06:10:22 PM well this is interesting, maybe some China miners are switching off their rigs? :) It has been classified as a bug already...or just some bug ... Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: lppeu on March 30, 2014, 06:37:09 PM Because of price drop. At this current price mining is not profitable. Said is reasonable, I will stop mining BTC.Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: 5thStreetResearch on March 30, 2014, 06:39:19 PM If the price keeps falling perhaps we'll see a drop but it's not going to be cut in half just like that
Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: crazynoggin on March 30, 2014, 06:47:50 PM Never get your sources of information from one place, otherwise you may end up with the wrong information.
Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: mysidia on March 31, 2014, 03:34:12 AM If the price keeps falling perhaps we'll see a drop but it's not going to be cut in half just like that If the price keeps falling and stays down: we may see a flattening out of the hash rate in 6 to 12 months, possibly a dip, but doubtful; it would most likely mean the end of exponential increase in difficulty ---- stretched out in time, due to miners having committed capital for mining operations beginning months in the future. I do not necessarily expect much of the network hash capacity to just up and quit any currently mining operations, as they already spent the investment on the expensive gear, and there are very likely many miners with pre-orders of mining equipment as well, some which have committed and can't just cancel or back out. Would most likely serve to raise the bar on minimum hashes per unit of investment expense, for new mining operations. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: Bit_Happy on March 31, 2014, 04:30:21 AM https://i.imgur.com/P6Bv9iY.png https://blockchain.info/charts/hash-rate Update: Hash rate returned to normal now, it seem there was an error at Blockchain.info Stunning graph even without the bad data. FYI: The big rise is starting ~Oct 2013. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: seriouscoin on March 31, 2014, 05:09:21 AM If the price keeps falling perhaps we'll see a drop but it's not going to be cut in half just like that If the price keeps falling and stays down: we may see a flattening out of the hash rate in 6 to 12 months, possibly a dip, but doubtful; it would most likely mean the end of exponential increase in difficulty ---- stretched out in time, due to miners having committed capital for mining operations beginning months in the future. I do not necessarily expect much of the network hash capacity to just up and quit any currently mining operations, as they already spent the investment on the expensive gear, and there are very likely many miners with pre-orders of mining equipment as well, some which have committed and can't just cancel or back out. Would most likely serve to raise the bar on minimum hashes per unit of investment expense, for new mining operations. which also mean higher price support. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: counter on March 31, 2014, 05:34:26 AM Good I'm glad to learn it was a bug as I couldn't for the life of me understand why something like that would happen. I've not been aware of this so thanks very much for bringing it to my attention.
Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: DubFX on March 31, 2014, 05:54:10 AM Tell me why the bitcoin rates is moving down Cuz of next FUD that china is going to ban bitcoin i think.Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: ujka on March 31, 2014, 08:24:20 AM Bug in Blockchain.info.
I checked 'stats' page on blockchain.info at that time, and there was number 86 for 'blocks mined last 24 hours'. I then checked mined blocks myself, and counted 156. Title: Re: Bitcoin lost >50% of hashrate, what happened ? Post by: roslinpl on March 31, 2014, 02:45:57 PM Bug in Blockchain.info. I checked 'stats' page on blockchain.info at that time, and there was number 86 for 'blocks mined last 24 hours'. I then checked mined blocks myself, and counted 156. I though so! :) it was not possible to lost 50% just like that! Sometimes some bugs over all times charts are making ticks that are not easy to understand. |
