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Author Topic: major jump in network hash rate  (Read 671 times)
gdman361
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June 16, 2011, 01:06:59 AM
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anyone care to explain how the hash rate nearly doubled in the past 5 days?
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MoonShadow
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June 16, 2011, 01:52:15 AM
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5 days?  That was just in the past 18 hours.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
gdman361
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June 16, 2011, 11:18:28 PM
 #3

5 days?  That was just in the past 18 hours.

okay and now it fell by 4 terahash in the las 12 hrs, something weird is going on here.  with the latest 500k heist, im question the practical use of bitcoin, ill stick to the sidelines for now.
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June 16, 2011, 11:24:01 PM
 #4

Some graphs fail when the difficulty change, and take a little while to drop back to normal..

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June 17, 2011, 12:34:58 AM
 #5

Normally, that would be the answer.  But this time some major miner turned on his cluster just after the difficulty change and ran it about 8 hours and shut it down.  If you look at the timestamps at blockexplorer.com it's pretty obvious that blocks were coming in at 12 per hour for about 8 hours then suddenly dropped back to six per hour.

EDIT:  It's also obvious that, whoever it was, couldn't manage to quite break 50% of the total network hashing power.  It might have been a test (by govco? Who else has that kind of power?) to see if they could still break bitcoin.  If so, bitcoin just barely survived.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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