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Bitcoin Forum > Bitcoin > Mining > This chart doesn't make sense to me
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VolanicEruptor (OP)
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August 24, 2013, 06:26:28 PM
 #1


This doesn't really match up to the stats right now.  Can anyone make sense of this?
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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August 24, 2013, 07:41:29 PM
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Rather than looking at the tiny lil thumbnail, why not look at the whole thing?



Network hashrate is approaching 600TH/s, and the difficulty just jumped from 50.8Million to 65.8Million a few hours ago.
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August 24, 2013, 11:54:31 PM
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Quote from: VolanicEruptor on August 24, 2013, 06:26:28 PM


This doesn't really match up to the stats right now.  Can anyone make sense of this?

What doesn't make sense?  The blue line is the current target which is 65750060.15 difficulty or 470.66 TH/s.  Where are you getting your stats?
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August 28, 2013, 02:41:07 PM
 #4
Quote from: VolanicEruptor on August 24, 2013, 06:26:28 PM
http://bitcoin.sipa.be/speed-thumbnail.png

This doesn't really match up to the stats right now.  Can anyone make sense of this?

These charts tell us the price of Bitcoins are not correlated to difficulty.  Plain and simple.

Supply and Demand have taken over and are keeping each other in check for now.
jeffhuys
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August 28, 2013, 03:20:10 PM
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The network speed fluctuates a LOT. Any idea why?
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August 28, 2013, 03:25:33 PM
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Quote from: jeffhuys on August 28, 2013, 03:20:10 PM
The network speed fluctuates a LOT. Any idea why?

Ah, I misunderstood.

It varies because some people back out of mining, and other times they jump-in because they just made the dive into bitcoin.  Or they got delivery of an ASIC and want use it quickly before it's worthless.

If the price of BTC in their currency of choice is too low, they may give up.

If it's high enough, they start mining again.

There are many reasons for global hashrate fluctuations.
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August 28, 2013, 11:05:24 PM
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Also luck is a huge one. Hardware reports one hashrate, but the "true" rate is the estimate based on the time it takes to solve blocks. Just like your CGMiner hashrate probably varies somewhat from what your pool reports, just my 2c here.
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August 29, 2013, 01:55:14 AM
 #8
Quote from: jeffhuys on August 28, 2013, 03:20:10 PM
The network speed fluctuates a LOT. Any idea why?

The graphs show the "estimated" hash rate which is calculated with math using the time is takes to solve several blocks.  There is no direct measurement of hashing power.  It's just a calculation, so it shows the hash rate going up and down because math only matches reality over a longer term. There is "luck" involved in the short term. If they took the measurement over more blocks, it would be smoother.
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