smoothie (OP)
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August 25, 2013, 12:51:50 AM |
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When will Bitcoin network reach 1 PH/s?
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theDF
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August 25, 2013, 12:56:10 AM |
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Few more months up to 1 years, after CoinTerra shipped their ASIC miner IMHO
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solex
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100 satoshis -> ISO code
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August 25, 2013, 12:59:29 AM |
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Smoothie, I think you mean 2014 after dec ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) November 2013 December 2013 January 2013 February 2013 After February 2013
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Bitalo_Martin
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August 25, 2013, 01:11:27 AM |
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Am I right that we now have already 0.5 phash? So doubling up will just take 2 months or so... we have exponential growth
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pedrog
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August 25, 2013, 01:18:36 AM |
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Definitely after February 2013, I'll bet money on that!
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smoothie (OP)
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LEALANA Bitcoin Grim Reaper
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August 25, 2013, 07:13:43 AM |
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Looks like we are already at 500 TH/s.
You guys really think it will take more than 6 months?
I disagree.
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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CoinHoarder
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In Cryptocoins I Trust
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August 25, 2013, 11:46:29 AM |
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Looks like we are already at 500 TH/s.
You guys really think it will take more than 6 months?
I disagree.
I agree with your disagreement. See what I did there? ![Cry](https://bitcointalk.org/Smileys/default/cry.gif)
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thef
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August 25, 2013, 05:21:46 PM |
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No option for October?
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nwfella
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Well hello there!
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August 26, 2013, 05:25:40 AM |
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Definitely after February 2013, I'll bet money on that!
LOL...I almost didn't catch the 2013 part!! Was just about to see if you wanted to wager a bit-nickle ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) *I'm guessing we hit 1 petahash by end of October (this year)
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¯¯̿̿¯̿̿'̿̿̿̿̿̿̿'̿̿'̿̿̿̿̿'̿̿̿)͇̿̿)̿̿̿̿ '̿̿̿̿̿̿\̵͇̿̿\=(•̪̀●́)=o/̵͇̿̿/'̿̿ ̿ ̿̿
Gimme the crypto!!
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smoothie (OP)
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August 26, 2013, 06:56:15 AM |
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Definitely after February 2013, I'll bet money on that!
LOL...I almost didn't catch the 2013 part!! Was just about to see if you wanted to wager a bit-nickle ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) *I'm guessing we hit 1 petahash by end of October (this year)lol good eyes. I didn't catch that either. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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███████████████████████████████████████
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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bcp19
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August 27, 2013, 02:07:12 AM |
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There's no September 2013 option, which is my vote.
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I do not suffer fools gladly... "Captain! We're surrounded!" I embrace my inner Kool-Aid.
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VolanicEruptor
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August 27, 2013, 02:09:37 AM |
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There's no September 2013 option, which is my vote.
There's not even an October option, wtf??? Network hash rate has been doubling every month, so by the end of September it will be 1PH/S. I would bet money on this.
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Miz4r
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August 27, 2013, 03:24:36 PM |
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First half of October this year we will reach 1 PH/s.
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Bitcoin = Gold on steroids
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gkm22d
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August 27, 2013, 08:08:24 PM |
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Do you think that a $500 million investment in mining hardware over the next year would equate to a $500 price of bitcoins, or miners mining at a loss bothin terms of dollars and bitcoins?
$500 million is arbitrary number for example.
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VolanicEruptor
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August 27, 2013, 08:18:22 PM |
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Do you think that a $500 million investment in mining hardware over the next year would equate to a $500 price of bitcoins, or miners mining at a loss bothin terms of dollars and bitcoins?
$500 million is arbitrary number for example.
most mining equipment is bought with fiat, from my understanding.. manufacturers at the very top want the green stuff, not bitcoins..
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GigaWave
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August 29, 2013, 02:28:39 PM |
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Do you think that a $500 million investment in mining hardware over the next year would equate to a $500 price of bitcoins, or miners mining at a loss bothin terms of dollars and bitcoins?
$500 million is arbitrary number for example.
Not at all. Mining hardware bought and hash rate DO NOT drive the price of BTC.
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Bitalo_Martin
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August 30, 2013, 12:20:48 PM |
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GigaWave, this is not true in my opinion. The difficulty HAS an impact on the price.
Scenario I: Just imagine you are a newcomer to bitcoin, you are fascinated by the concept etc.
Now you want to get some coins, so what do you do: You will analyse how could I get some coins a) with mining b) with buying
Assuming the difficulty is very high, there is no chance that he will go for possiblity a) and instead buy coins which will drive the price up.
Scenario II:
You are hardcore bitcoin hoarder and a big fan and you try to get as many coins as possible, be it because you think the monetary system will crash or simply for the pupose of speculation. Now you get more (FIAT) money to invest, for example from your monthly salary.
Now you want to invest into bitcoins, so what do you do: a) Buy more mining hardware b) Buy more coins
In case the difficulty is very high in comparison to the price you would also tend to buy which makes the price higher.
So bottom line: When difficulty goes up, price will go up and the other way round. This does not mean the price cannot drop or even crash, but the general psychology behind bitcoin always causes that difficulty will increase and price will increase over long term provided that more and more people enter the system.
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bbxx
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August 30, 2013, 12:24:07 PM |
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please smothie add september and october! bfl is shipping, bitfury is shipping, blades are cheap and avalon clones will flood the market! i forgot knc, but they dont have chips yet.
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Taras
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August 30, 2013, 02:59:35 PM |
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Looking at the scale of a week; http://bitcoindifficulty.com/http://bitbet.us/bet/490/btc-network-difficulty-to-top-69-million-by/I went all in on Yes. The difficulty is increasing exponentially. We're at .65 PH/s now, after the coming difficulty change; projected +20M; we could see a staggering correction in hashrate. A petahash per second next week? Could be. That however isn't something I'd be comfortable putting money on... At first I was thinking a petahash was out of reach, but... By the end of 2013, I bet we'll see it.
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