Network Hashrate Growing at .05% per day!!! 5k s9's

[Raymond_B]

I'm new here so take it for what it's worth, but my December batch S9 was as clean as a whistle and looked brand new. My January batch will be here tomorrow (go figure) so I'll report on that one. But I would offer up that the theory of Bitmain selling used units is pure conjecture. Just my observation and opinion

[Druiz287]

Imo, CNBC,bloomberg,etc are screwing things up with too much crypto news to the point it pumps btc up too much quickly and is gonna over-saturate the mining market. It is no good for anyone at this rate.

Agreed.  Plus the volatility this also produces on the trading side of things is madness.  Hopefully that will scare some of them off!

[dlezama]

I'm new here so take it for what it's worth, but my December batch S9 was as clean as a whistle and looked brand new. My January batch will be here tomorrow (go figure) so I'll report on that one. But I would offer up that the theory of Bitmain selling used units is pure conjecture. Just my observation and opinion

What do you think they do when they retire their miners? Throw them away? Maybe the cases and fans, but used boards and chips I'm sure they sell them. I actually wish mine was used, one board died pretty quickly and that's how I know it was new. People think used miners will last less, but the opposite happens with electronic stuff with no moving parts. Well tested is better

[d57heinz]

With bitmain, avalon and ebit all selling good miners next year....that cant be good for difficulty level. And miner prices are higher.

May not be great for the True decentralized miners. I’ve said it in another post. Let the manufacturers fight amongst themselves. Either they fall to side completely like spondoolies did. Or they drive diff so damn high we all reap rewards from price increase. .  That’s why I say buy and hodl coins.  The jump in hash will be followed by more price jncrease. They aren’t adding 5k worth of s9 hash to network because they see an end is near that’s for damn sure.  

Also I don’t feel the used miner bit is so much more an issue nowadays. Plus who would know they run them in clean data centers now.  It looks as good as new with exception of having to replace a fan or two.  Honestly I don’t want another thing used or new from bitmain.  I’m already looking to have their junk repaired. Not by them of course. I won’t give them another damn cent.  At least knowingly anyway.

BR

[stelee68]

Yes, with the current jump in difficulty at exponential rate, those spending USD $5000 to get a miner is outta their freaking mind.

It would take them probably 1 year to ROI, or more.

I think it is better to sign-up for cloud mining (like Genesis, maybe?) is more rewarding than to pay $5k for a miner right now.

[Crypto Rock]

I'm new here so take it for what it's worth, but my December batch S9 was as clean as a whistle and looked brand new. My January batch will be here tomorrow (go figure) so I'll report on that one. But I would offer up that the theory of Bitmain selling used units is pure conjecture. Just my observation and opinion

Unless somebody comes up with a proof that Bitmain is indeed selling used units, I would assume otherwise. Common sense and industrial practice would point otherwise. Complexity of moving used units back to factory, packing them, updating shipping inventory, SKU's, employees doing this versus something else. etc .... would cost more versus the potential profit.

[CarrollFilms]

Can I short this chart?

[dlezama]

Sorry, we diverged... Sticking to the thread, hashrate grow is unbelievable, aliens may be chiming in Who can be deploying this massive hashrate and using what hardware?

[WhyFhy]

Sorry, we diverged... Sticking to the thread, hashrate grow is unbelievable, aliens may be chiming in Who can be deploying this massive hashrate and using what hardware?

Its manufactures testing next gen hardware.

[Druiz287]

Sorry, we diverged... Sticking to the thread, hashrate grow is unbelievable, aliens may be chiming in Who can be deploying this massive hashrate and using what hardware?

Its manufactures testing next gen hardware.

The plot thickens... I am looking forward to the next generation and what continuous re-engineering brings us.  At this point I don't know if it would be better to have more efficient miners to maximize return on electricity put consumed (like the S9) or less efficiency with more economical miners to have a faster ROI (like the M3).  I mine Ethereum as well, and I prefer the 1070s over the 1080s because of lower power consumption.  That's probably why I decided to mine with the S9 as well, just saying.  But maybe with this exponential curve in hashrate efficiency, the game changes priorities from owning the most efficient miners long term to recovering investment quickly in preparation for the next generation models before the current ones become obsolete due to rising difficulty.  The strategic implications for those investors with several thousand at stake merit some consideration.

[d57heinz]

Sorry, we diverged... Sticking to the thread, hashrate grow is unbelievable, aliens may be chiming in Who can be deploying this massive hashrate and using what hardware?

definitely next gen in the testing .  those of us that been around a while have seen this before.  Just had another huge jump up in the chart.  Going to see a nice price jump very soon.     NEW ATH folks.

BR
Doug

edit at 2% growth a day were talking some serious hash being thrown at the network. (20k s9's per day!)

[WhyFhy]

Sorry, we diverged... Sticking to the thread, hashrate grow is unbelievable, aliens may be chiming in Who can be deploying this massive hashrate and using what hardware?

definitely next gen in the testing .  those of us that been around a while have seen this before.  Just had another huge jump up in the chart.  Going to see a nice price jump very soon.     NEW ATH folks.

BR
Doug

edit at 2% growth a day were talking some serious hash being thrown at the network. (20k s9's per day!)

or 10k s11's 

[casparthefriendly]

So for fun i did the math today.  At 14 exahash if we add .05% each day that equates to over 5000  s9 added to network per day ?. Correct me if i am wrong.   This is amazing and explains the crazy increase in price along with the upswing in this graph.  http://bitcoin.sipa.be/    Even with the backup in transactions it looks like security will continue to increase as more continue to mine.. I have no doubts that scaling will be addressed this year.   Better to get it right the first time.  Look at what the alts do right as the test bed and implement the best features into btc.  Thats how i see it going down some time in the future. BTC will always remain the OG of crypto.   Anyway for those wondering why bitmain raise price.. well supply and demand.. also they expect another crazy jump in price soon.  Going to be a great 2018  .

also look at correlation to this graph set at 1 wk time frame.  https://bitcoinwisdom.com/markets/bitstamp/btcusd
Merry Christmas Everyone  And Happy New Year!

Best Regards
Doug

Here's my response:

https://mobile.twitter.com/cnLedger/status/949468263800479744

China is GOING to shutdown bitcoin mining in their country, one way or another.  This Tweet was from the OFFICIAL Chinese government press.  Here is the website:

http://www.yicai.com/news/5389628.html

Soon to see a MAJOR drop in hashnet

and Happy New Years to you to Doug.  Its GOING to be a GREAT ONE!

[stompix]

So for fun i did the math today.  At 14 exahash if we add .05% each day that equates to over 5000  s9 added to network per day ?. Correct me if i am wrong.   This is amazing and explains the crazy increase in price along with the upswing in this graph.  http://bitcoin.sipa.be/  

There is one small thing that should be considered also..
And I must emphasize on "small".

There is also the BCH chain that is getting mined by sha256 miners and hashrate that has also grown a bit hovering around 10%.
Taking into account their current hahsrate there are around 80k s9 that are missing from the chart above that have produced and set online in the last 5 months.

https://fork.lol/pow/hashrate
was showing 19 exahash yesterday......

[d57heinz]

So for fun i did the math today.  At 14 exahash if we add .05% each day that equates to over 5000  s9 added to network per day ?. Correct me if i am wrong.   This is amazing and explains the crazy increase in price along with the upswing in this graph.  http://bitcoin.sipa.be/  

There is one small thing that should be considered also..
And I must emphasize on "small".

There is also the BCH chain that is getting mined by sha256 miners and hashrate that has also grown a bit hovering around 10%.
Taking into account their current hahsrate there are around 80k s9 that are missing from the chart above that have produced and set online in the last 5 months.

https://fork.lol/pow/hashrate
was showing 19 exahash yesterday......

yea and now we are pushing 2% growth per day and we are over 18 exa(do the math  New tech is coming online now).  This is absolutely mind boggling the amount of hash coming online.  CHina isnt banning shit . Only trying to buy cheaper before this things blows up BIG TIME.    

For those that say there is no reason to create new tech since s9 is still profitable.. Well they are wrong.  100% wrong.  Why would a company stop developing and let the competition get ahead.  Hell look at bitmain and obelisk with sia.  Heheh.   What a great time to be alive  

BR

edit  ohh im sorry its 21 Exa now

Price   12,521.32 USD/฿
Hashrate   21379.74 PH/s
Activity   152 TX/min
Unconfirmed Txs   108,763
Fee Rate   0.00042367 BTC

https://chain.so/btc

[vk985]

I too was making similar observation some days ago. What hit me is if currently 1000-5000 new S9 or equivalent are turned on every day, where they come from? Obviously its nearly impossible to buy new miners, at least on short term, if you are lucky and are able to order you have to wait months. some of these numbers could be from old miner models being turned back on again, others from some s9 getting delivered from old batches. but anyway numbers seems huge! Can it be that the miner factories (avalon, bitmain etc) put most of their production into their own farms? or can it be someone made a more effective miner (like n10 chip) but does not offer it to public and just use it for own farming? Ideas?

It is know that if you have enough money for 300 S9s, you can go to China with that money and skip the whole waiting time.

[Thetaj]

My guess is, they're pushing the diff of BTC up like crazy, then they pull a shit ton of Hash offline.........BTC becomes stuck, China pumps Bcash........??profit

easiest game to ever play. I'll see you guys in Feb

[stompix]

My guess is, they're pushing the diff of BTC up like crazy, then they pull a shit ton of Hash offline.........BTC becomes stuck, China pumps Bcash........??profit

easiest game to ever play. I'll see you guys in Feb

That easy game of your would end up costing them 12k$*12.5*6*24 a day.
Besides, to make BTC really stuck you would have to cut more than 50% of the hashpower.
Do they have that kind of hashpower?

And besides, they probably have learned a tough lesson last week.
If BTC has problems, the whole altcoin world is bleeding.
Pumping BCH right now and cutting off revenues from BTC would be suicide.