Bitcoin Forum
November 18, 2018, 05:00:11 AM
 News: Latest Bitcoin Core release: 0.17.0 [Torrent].
 Home Help Search Login Register More
 Pages: 1 [2]  All
 Author Topic: Comparison of GPU's  (Read 17111 times)
dbc
Newbie

Offline

Activity: 3
Merit: 0

 December 18, 2010, 11:49:04 PM

It will (for a while, at least). ArtForz will have 65% of the network.

I've not spotted how to figure out what hash speed the entire network is searching at? Can anyone link me?

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1542517211
Hero Member

Offline

Posts: 1542517211

Ignore
 1542517211

1542517211
 Report to moderator
1542517211
Hero Member

Offline

Posts: 1542517211

Ignore
 1542517211

1542517211
 Report to moderator
1542517211
Hero Member

Offline

Posts: 1542517211

Ignore
 1542517211

1542517211
 Report to moderator
Essjay
Newbie

Offline

Activity: 14
Merit: 0

 December 19, 2010, 12:31:55 AM

I've not spotted how to figure out what hash speed the entire network is searching at? Can anyone link me?

Maybe there's a web page out there that says "the current hash speed of the entire network is..." In the absence of this, we can calculate it.

Assume that the network calculates 6 blocks per hour (i.e. 2016 blocks every 2 weeks).

If we go to http://www.alloscomp.com/bitcoin/calculator.php and play around with it, we discover that 80000000 khash (or 80,000 million hashes) per second equals an average of 10 minutes. Therefore that's my current wild estimate!

(It's probably slightly higher than this, because we're generating more than 6 blocks per hour. Add a bit more.)
theymos
Legendary

Offline

Activity: 3206
Merit: 3949

 December 19, 2010, 12:38:36 AM

I've not spotted how to figure out what hash speed the entire network is searching at? Can anyone link me?
Take the average number of hashes required to solve a block:
http://blockexplorer.com/q/hashestowin
And divide that by the average interval between the last 1000 blocks or whatever:
http://blockexplorer.com/q/interval/1000

Right now it's ~102 ghash/s.

lfm
Full Member

Offline

Activity: 196
Merit: 100

 December 19, 2010, 11:02:03 AM

It will (for a while, at least). ArtForz will have 65% of the network.

I've not spotted how to figure out what hash speed the entire network is searching at? Can anyone link me?

You can simply estimate for each block at the specified difficulty results in the estimated total net hashing rate and you get a graph like this:

http://www3.telus.net/millerlf/hashes.png

Hal
VIP
Sr. Member

Offline

Activity: 314
Merit: 479

 December 20, 2010, 03:31:18 AM

I'd predict that difficulty will stop rising once it becomes impossible to mine at a profit. Based on ribuck's figures, we're pretty much there if you account for GPU prices, and maybe a factor of 4 away even for people who only count electricity (because they use their cards for gaming etc). So unless the price of bitcoins rises, I expect difficulty to start leveling off soon.

Hal Finney
ribuck
Donator
Hero Member

Offline

Activity: 826
Merit: 1004

 December 20, 2010, 12:34:07 PM

... unless the price of bitcoins rises, I expect difficulty to start leveling off soon.

I think that should say "unless people think that the price of bitcoins is going to rise..."
Cdecker
Hero Member

Offline

Activity: 490
Merit: 503

 December 20, 2010, 01:15:52 PM

Well investing now in the generation of Bitcoins is a two-way bet: you are betting that the increase in generation difficulty  is not going to outrun the value increase at exchanges, both when the difficulty leaps to an incredible high, or the exchange price drops, you're screwed.

Want to see what developers are chatting about? http://bitcoinstats.com/irc/bitcoin-dev/logs/
Bitcoin-OTC Rating
ribuck
Donator
Hero Member

Offline

Activity: 826
Merit: 1004

 December 20, 2010, 01:44:12 PM

... when the difficulty leaps to an incredible high, or the exchange price drops, you're screwed.

...unless you can make money from transaction fees, or bitcoin-based DNS, or whatever else the future may hold. For sure though, buying hardware is a speculative gamble. GPU mining would have been very profitable for ArtForz because he started early when the difficulty was low. For the same reason, mining with custom hardware will work for him if he's first-off-the-block. But for most of us, the economics of generating is marginal.

Of course there are other reasons to generate apart from monetary reward. It's quite satisfying just to be part of the movement helping to get Bitcoin established.

PS: Anyone who is buying hardware for generation, why not click through the affiliate links at bitcointo.com and claim your bitcoin reward. I got 35 bitcoins back on my purchase of a 5870 card. Thanks to noagendamarket, the operator of that service.
mimarob
Full Member

Offline

Activity: 370
Merit: 100

IDEALCOIN.IO

 December 26, 2010, 11:04:22 AM

hehe now I know why I like this so much, its like the original gold-rush, few of the miners got rich, but many of the providers of the pots an' pans did :-)

 Pages: 1 [2]  All
 « previous topic next topic »