hashrate is dropping below prediction

[EuroTrash]

Last time it happened was in January 2013 after block reward halving.
That event more or less coincided with the start of an exponential rise in price.

I'm not saying "buy buy buy" just noticing the event has happened.

[BitPirate]

Sellers wising up? After all, why sell something at a loss?

[zoinky]

I think AM turned off some devices to let difficulty cool down.

[dnaleor]

People just turning of their GPU's because the new ASICs take all the profit.
If you don't own an ASICminer, you will buy bitcoin

=> price goes up

[coinnewb]

Last time it happened was in January 2013 after block reward halving.
That event more or less coincided with the start of an exponential rise in price.

I'm not saying "buy buy buy" just noticing the event has happened.

Where is that image/data from?  Thanks.

[pand70]

Where is that image/data from?  Thanks.

http://bitcoincharts.com/bitcoin/

[naphto]

If you don't own an ASICminer, you will buy bitcoin

Why?!
Does not make sense.

[SGExodus]

Last time it happened was in January 2013 after block reward halving.
That event more or less coincided with the start of an exponential rise in price.

I'm not saying "buy buy buy" just noticing the event has happened.

Did some mining facility suffer some disaster and taken offline?

[ivanb]

Yes, that doesnt make any sence, except somedy or a group of miners turned their asics off in agreemnt to ccol the hasrate down. Or maybe some big asic miners have issues with the sunny weather (acually about 35 C) in germany right now :-)

Do you have any ideas whats going on?

Here s another grapg from blockchaininfo:
https://blockchain.info/charts/hash-rate?showDataPoints=true&timespan=30days&daysAverageString=1&scale=0&address=

http://s22.postimg.org/6tumrr8sx/blockchaininfo_hashrate_drop_2013_06_19.jpg

---------------------

Asics turned on again. Everything back to normal :-)

http://blockchain.info/de/charts/hash-rate?timespan=30days&showDataPoints=true&daysAverageString=1&show_header=true&scale=0&address=

http://postimg.org/image/vwn9tsi1p/

[jeannie]

It is only for two days I dont see the problem.  It may go up all over again

[Miz4r]

I think many GPU miners stopped mining since it's not profitable anymore with the current difficulty. Hashrate will go up again when more and more ASIC miners start hashing.

[playtin]

BFL stopped mining on their own and starts shipping? j/k

[Cluster2k]

Maybe difficulty is dropping right after the last increase due to GPU miners giving up in higher electricity cost areas?  Right now most miners in Australia are priced out (US$0.24 to US$0.32 per kWh).  Some European miners would be struggling too.  As BFL continues to ship units we should see most GPU miners give up.  Only those left on some hydro and nuclear power will stay, or those with 'free' electricity.

[SGExodus]

BFL stopped mining on their own and starts shipping? j/k

Could be Avalon stop mining with customer machine too..

[JimboToronto]

Maybe it's just that many GPU miners in the northern hemisphere have shut down (myself included) due to not being able to offset electricity costs by using them for winter heat.

[runam0k]

No, GPU miners did not all turn off their rigs at the same time.

It was ASICMiner's hash rate that dropped. Probably swapping out its 2nd gen blades for 3rd gen. Or something.

[mgio]

ASICMiner shut off roughly 15 TH/s worth of mining equipment in the past 3 days. That is more than 10% of the world's hash power. That definitely had a big impact on it. I'm not sure why they did it by the way. It could be network or hardware problems, or maybe they don't want the difficulty to rise too much higher yet.

Anyways, it makes sense that we hit a plateau. ASICMiner blades are sold out. Avalon batch 2 still isn't shipping and BFL Jalapeno shipments have slowed compared to what they were 2 weeks ago. They also claim to have started shipping singles but no one seems to have one yet. In the meantime, with the last difficulty adjustment a few days ago many GPU miners suddenly became unprofitable and shut off their machines.


This plateau won't last though. Avalon should finish up shipping batch 2 in the fews weeks to a month or so. BFL looks like they will actually begin shipping singles finally, and ASICMiner will add more hashrate again. I think we won't see much change in difficulty at the next readjustment, but then it will gradually start to rise again, and we may go back to seeing 20%+ increases in difficulty a month from now. It all depends on when BFL and Avalon get their act together and ship their preorders.

[bitcoinbear]

The sky is falling!

There was a massive EMP set off by nefarious government agents designed to destroy the bitcoin network. Clearly they have failed.

Buy, Buy, Buy!

[cypherdoc]

BFL stopped mining on their own and starts shipping? j/k

Could be Avalon stop mining with customer machine too..

this is my bet. 

finally stopping the "burn ins".

[atcsecure]

BFL stopped mining on their own and starts shipping? j/k

^^^ THIS ^^^

seriously all of sudden a 500GHash unit shows up???