[2014-06-15] coinbrief: Unprecedented: Bitcoin Mining Network Exceeds 100 PH/s

[LiteCoinGuy]

Unprecedented: Bitcoin Mining Network Exceeds 100 PH/s

http://coinbrief.net/bitcoin-exceeds-100/

[epere]

At 100 PH/s , I think Bitcoins biggest downside is all the wasted electricity unfortunately most miners won't have access to cheap electricity like geothermal.

[LiteCoinGuy]

we already hit 130 PH/s some hours ago...thats 30% more in just 5-7 days...  

[bryant.coleman]

This means that individual mining using GPUs and ASICs is no longer profitable. Only the large institutional-sized mining firms will be able to mine Bitcoins, without incurring huge financial losses.

[TraderTimm]

At 100 PH/s , I think Bitcoins biggest downside is all the wasted electricity unfortunately most miners won't have access to cheap electricity like geothermal.

I think the real downside is how poorly people understand what mining does.

"Wasted", my ass.