Hashrate going down!

[420]

Hashrate going down, QUICK someone turn on a fleet of 4x5970's!

Bitcoin difficulty

Block   Time   Difficulty   Ratio
Last change   209664   26/11/2012 11:10   3'438'908.96   x0.98
Last 120   211486-211606   09/12/2012 07:17   3'030'061.13   x0.88
Last 10   211596-211606   10/12/2012 03:33   2'355'417.10   x0.68
Next   211680   10/12/2012 19:59   3'351'022.42   x0.97

[live627]

Didn't you sell yours?

[420]

Didn't you sell yours?

I had but 3, alas, I could have kept it but my electricity was charged at a high rate. I wouldn't mind the heat now though

[pazor]

may be the asic supplier end their testphase and now packing the items to send them to the customers...

so the hashrate is going down.

[420]

may be the asic supplier end their testphase and now packing the items to send them to the customers...

so the hashrate is going down.

NOPE

[greyhawk]

may be the asic supplier end their testphase and now packing the items to send them to the customers...

so the hashrate is going down.

That's pretty unlikely considering that no one even has any chips yet to build asic rigs with.

[Endgame]

Hashrate is going down a little, but not as much as most people (including myself) would have predicted. 50% drop in profitability, and only a 2-3% drop in difficulty?

[Korbman]

Hashrate is going down a little, but not as much as most people (including myself) would have predicted. 50% drop in profitability, and only a 2-3% drop in difficulty?

There's been some speculation around this already, but it could be that either a) people haven't realized the profitability impact of the reward split on top of their current energy costs, or b) they're still profitable, so might as well keep mining until ASICs come out.

It also helps that the USD/BTC price has increased, and difficulty is still decreasing a bit at a time.

[finkleshnorts]

My number one fear of bitcoin's future is that the hashrate decays relative to the minting rate. The market value of bitcoins must ultimately be high (how high?) in the long-term if bitcoin is to succeed.

[HDSolar]

I would think this is kind of expected with the halving.  The question is if the rate continues to drop with or without ASIC.  Without ASICs and it continues then we have a problem of people leaving bitcoin to game or do something else.  With ASIC (and I would expect the rate to be jumping up and down) we will have wild flux's in value, people mining and volume of coins on the market.  I hope this rate drop is minimal and then with ASIC's shoots right back up and higher.

[finkleshnorts]

One argument is that business (and governments?) with a stake in bitcoins success will buttress the network out of obligation. I think it's plausible... Paypal runs servers too. Then again, in the face of profit it must be tempting to defer the responsibility to someone else. We see that dynamic in the industrial sector all the time with regards to environmental hazards.

[Fcx35x10]

hmmm still waiting for the big increase in the rates

[HDSolar]

One argument is that business (and governments?) with a stake in bitcoins success will buttress the network out of obligation. I think it's plausible... Paypal runs servers too. Then again, in the face of profit it must be tempting to defer the responsibility to someone else. We see that dynamic in the industrial sector all the time with regards to environmental hazards.

I don't think this will happen and here is why, I think those who know about bitcoin hopes it works.  If you look at the current fiscal systems around the world it is really built on trust and nothing tangible like gold or other past solutions.  Trust is really in short supply and can't be controlled using current methods (LIBOR is the best recent example).  Technology is moving way to fast for governments and even businesses to keep up (.dot come boom really knocked a bunch of biz people are their rears as an example) in developing ways to manage.  I would say that if I were a government or major business looking to the future something needs to come along to change the game that works better with the digital world we are creating.  Bitcoin or any crypto coin looks to be that next "thing" just like paypal was. 

Who's to say that the U.S. was not the ones to start this to support continued its future as a world economic leader?  Keep in mind SHA-256 was by the U.S. and they have been keeping tabs on its development.  It really would not surprise me if some economic think tank back in Virginia did not offer this up as a solution to combat projected declines or other issues. 

If you really want to know what the government is freaking out about check out seven revolutions from the CSIC:  http://www.youtube.com/watch?v=pccKiOVJ6Mw

[420]

Hashrate is going down a little, but not as much as most people (including myself) would have predicted. 50% drop in profitability, and only a 2-3% drop in difficulty?

remember price has gone up about 30% for last 3 months or something of the sort

for miners that predicted low profitability they sold staggeringly (staggered) so they wouldn't be stuck at the last minute selling in a market flooded with supply and get less $ for their rigs

so, in that time people got out, others got in (new people) and now only a few still needed to get out due to profitability; some switch to LTC, etc.

[NEO2012]

Hashrate going down, QUICK someone turn on a fleet of 4x5970's!

Bitcoin difficulty

Block   Time   Difficulty   Ratio
Last change   209664   26/11/2012 11:10   3'438'908.96   x0.98
Last 120   211486-211606   09/12/2012 07:17   3'030'061.13   x0.88
Last 10   211596-211606   10/12/2012 03:33   2'355'417.10   x0.68
Next   211680   10/12/2012 19:59   3'351'022.42   x0.97

avalon units  ariving


gpu starting to quit

[420]

Hashrate going down, QUICK someone turn on a fleet of 4x5970's!

Bitcoin difficulty

Block   Time   Difficulty   Ratio
Last change   209664   26/11/2012 11:10   3'438'908.96   x0.98
Last 120   211486-211606   09/12/2012 07:17   3'030'061.13   x0.88
Last 10   211596-211606   10/12/2012 03:33   2'355'417.10   x0.68
Next   211680   10/12/2012 19:59   3'351'022.42   x0.97

avalon units  ariving


gpu starting to quit

BTCGuild is taking over

26%:
http://blockchain.info/pools