Bitcoin Network Hash Rate Begins Massive Tank

[chewie]

The total network hashrate seems a little too high for a monday.  I was kind of expecting it to be in the high teens, or lower 20s.

[bcpokey]

The total network hashrate seems a little too high for a monday.  I was kind of expecting it to be in the high teens, or lower 20s.

Like a good girlfriend

[nobbynobbynoob]

The total network hashrate seems a little too high for a monday.  I was kind of expecting it to be in the high teens, or lower 20s.

Like a good girlfriend

LMAO!

Tip jar?

[meebs]

oh giggity.. all 3 difficulties are dropping off quite a bit.

btc    211718    0M    2016    213696    1978    1.88%    3370181.75000    3022227.88201    -10.32%    15d 7hr 37m 18s
nmc    86861    402M    2016    88704    1843    8.58%    963488.77507    796715.75148    -17.31%    15d 11hr 27m 52s
ltc    260605    680M    2016    262080    1475    26.84%    42.27702    26.72447    -36.79%    4d 1hr 13m 28s

[creativex]

Uh LTC difficulty recent went up from 26 to 42, not down...unfortunately. It was fun while it lasted after dropping from 48 to 26 though.

[meebs]

Uh LTC difficulty recent went up from 26 to 42, not down...unfortunately. It was fun while it lasted after dropping from 48 to 26 though.

LTC is on its way back down.... I posted the then current estimates from allchains.info

LTC is on a roller coaster ride.. when diff drops people jump on it like a free meal.. when diff shoots back up they run away like the plague..

so far it seems that the down cycle lasts 2 days and the up cycle (higher diff) lasts 4 1/2 days

[AngelusWebDesign]

Uh LTC difficulty recent went up from 26 to 42, not down...unfortunately. It was fun while it lasted after dropping from 48 to 26 though.

LTC is on its way back down.... I posted the then current estimates from allchains.info

LTC is on a roller coaster ride.. when diff drops people jump on it like a free meal.. when diff shoots back up they run away like the plague..

so far it seems that the down cycle lasts 2 days and the up cycle (higher diff) lasts 4 1/2 days

And people think a stable currency/economy can be built on a system like Litecoin?

Give me a break.

Bitcoin has a long, stable history compared to Litecoin -- and I still meet plenty of people that haven't heard of Bitcoin.

[tacotime]

Litecoin is being difficulty coastered right now by a large BTC miner who mines and dumps every other difficulty period.  It's inevitable with a 3.5 day retarget.

In other news it looks like I was right, we're looking at a -13% difficulty decrease right now which will put us below 3M.

[AngelusWebDesign]

Litecoin is being difficulty coastered right now by a large BTC miner who mines and dumps every other difficulty period.  It's inevitable with a 3.5 day retarget.

In other news it looks like I was right, we're looking at a -13% difficulty decrease right now which will put us below 3M.

I don't know -- since your OP it went up quite a bit, then down again (eventually).

Difficulty reset 2 days after the OP -- it was basically flat.

If I say the BTC price is tanking, am I "proven correct" if the price drops 10% up to 12 days later?

Isn't there a saying about a broken clock being right twice a day?

[tacotime]

That's true.  I mostly created this as a troll thread but then it turned into a big debate.