Total hashrate falls considerably

[vulgata]

From where are you getting your data?

I look at the top of
http://bitcoincharts.com/markets/
and
http://bitcoinwatch.com/

The same for me.

I like http://bitcoin.sipa.be/ better; the growth rate just dropped below 0% today.

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[GeniuSxBoY]

Total hashrate falls

goddamn it, i wanted to invest in corn beef, too  

[SgtSpike]

From where are you getting your data?

I look at the top of
http://bitcoincharts.com/markets/
and
http://bitcoinwatch.com/

The same for me.

I like http://bitcoin.sipa.be/ better; the growth rate just dropped below 0% today.

Excellent.

[deepceleron]

Look here: http://dot-bit.org/tools/nextDifficulty.php
You get to see over which blocks the 'instant' calculation of hashrate was done. Right now for blocks 139509-139629 block rate is 90% of difficulty, which is more than you can account to mere luck or variability.

[Nagle]

BUT.. if I had to pay for elect/cooling this quickly makes less and less sense to do. My state's elect cost
at home is higher on average, it is pretty darn hot out right now so cooling would be nonstop, and watching
over these 3 boxes takes more effort then 40+ freebsd servers (go figure).

Right. If you consider the cost of power, air conditioning, floor space, and labor, it's far worse. Most of the
people mining are probably losing money if they amortize all their costs.

[bitclown]

35 minutes since last block now. MINE/SELL/BUY/HOLD/WAIT!

[oakpacific]

whenever the difficulty changes, the total hashrate skyrockets because of how it's calculated. this same thing happens every time. you have to wait 24-36 hour for that total hasrate calculation to get back to normal. It's not people buying rigs the day difficulty changes, or getting rid of them 2 days after a difficulty change, its just that the calculation is too basic to calculate the total hashrates when there are 2 different difficulties worth of solved blocks.

I took track of the total hashrate change for quite sometime,  the current hashrate is about 1-1.5Thash/s lower when compared to the same time in the last 10-days period.(about 3.6 Thash/s lower than the number immediately after the most recent difficulty change), and combined with the fact that difficulty growth has also slowed down, I think my original conclusion makes sense.

[oakpacific]

Further drop of 0.3 Thash/s since last time I checked.

[shmadz]

Further drop of 0.3 Thash/s since last time I checked.

yeah, sorry about that, my internet connection went down for a bit... 









just kidding! lol

[ganalon]

I hesitate to mention the obvious.... 1)  Most miners live in the northern hemisphere. 2) That summer is HOT!

Thus it makes less sense to mine in the summer... mining has a double cost, power and heat.

However in winter heat is practically free for electrically-heated homes.  Would your rather burn $$ through a resistor (electric heater) or produce the SAME heat AND get a few BitCoins?   Duh!!

[defxor]

I hesitate to mention the obvious.... 1)  Most miners live in the northern hemisphere. 2) That summer is HOT!

Really?

/Europe

[pennytrader]

Consider this also:

24 hr lucK from the stats:
deepbit: -17.8%
btcguid: -44.5%
slush: you can calculate yourself but two rounds over 5 hours.

[Bigpiggy01]

If you have invested in a serious amount of hardware then the game has just changed slightly.

Back in May/June/July my mining was making good money with almost 0 work on my part, now to stay ahead I have to trade or "manage my investment", But overall my ROI is exactly what it was back when prices were sky high, you don't exactly have to be Einstein to know that the only certainty here is that the market can and will move in both directions.

Some people see an investment in anything as gaining a "treasure" and the second prices start moving they PANIC. They just never bothered to check exactly what it was they were getting into.

If prices start adjusting again in a upward direction (I think it will but I'm also 100% certain there will be a few bumps along the way) then the dweebs switching off their miners now will loose what they could have gained back over a fairly short period of time.

Ok so prices don't go back up but playing even a 0.20 dollar variance in price during the course of a day (in either direction) can make a heck of a difference to your bottom line and the lower we go the likelier of more percentile volatility. 

[Mistafreeze]

Consider this also:

24 hr lucK from the stats:
deepbit: -17.8%
btcguid: -44.5%
slush: you can calculate yourself but two rounds over 5 hours.

I was just going to say this. Luck appears to actually have been on our side. Maybe there really has been a large reduction in the size of the network in the past few days???

[fcmatt]

Consider this also:

24 hr lucK from the stats:
deepbit: -17.8%
btcguid: -44.5%
slush: you can calculate yourself but two rounds over 5 hours.

I was just going to say this. Luck appears to actually have been on our side. Maybe there really has been a large reduction in the size of the network in the past few days???

deepbit uses a negative percentage value to show good luck. btcguild does the opposite.

[pennytrader]

Consider this also:

24 hr lucK from the stats:
deepbit: -17.8%
btcguid: -44.5%
slush: you can calculate yourself but two rounds over 5 hours.

I was just going to say this. Luck appears to actually have been on our side. Maybe there really has been a large reduction in the size of the network in the past few days???

deepbit uses a negative percentage value to show good luck. btcguild does the opposite.

I already converted that for you at the time when I wrote the post (from +17.8% to -17.8%). Of course, 24 hr turned around and deepbit is lucky now

[Mistafreeze]

Consider this also:

24 hr lucK from the stats:
deepbit: -17.8%
btcguid: -44.5%
slush: you can calculate yourself but two rounds over 5 hours.

I was just going to say this. Luck appears to actually have been on our side. Maybe there really has been a large reduction in the size of the network in the past few days???

deepbit uses a negative percentage value to show good luck. btcguild does the opposite.

Details :p

[pennytrader]

Can't people go read the description in the pool websites and figure the number out themselves?

Luck considerably slowed down the network hashing rate (as shown in the luck numbers I posted earlier. And if you can't figure them out. I can't help.) Now deepbit is lucky (from unluck 17% to luck 17%, hopefully now you can understand!), and the instant difficulty is going back up http://dot-bit.org/tools/nextDifficulty.php

[ampirebus]

Unfortunately I know some people who invested in tens of new cards just in the past month.

Yea thats just insanity.

to be honest, i got in at the start of july and i bought 4 cards (2 6870s and 2 5830s) and ive already made all the initial startup capital back and then some.

but i only buy wahts on sale. i got the 6870s for ~130 each after selling the games that game with them and the rebates.

[fcmatt]

Unfortunately I know some people who invested in tens of new cards just in the past month.

Yea thats just insanity.

to be honest, i got in at the start of july and i bought 4 cards (2 6870s and 2 5830s) and ive already made all the initial startup capital back and then some.

but i only buy wahts on sale. i got the 6870s for ~130 each after selling the games that game with them and the rebates.

based on mh/s, difficulty, price of btc, gut feeling on how i have been doing, i do not feel that your comment
is valid. Unless you just mean the price of your video cards and forgetting all about the MB, PSU, RAM, CPU,
etc... to make them function. A MB that has 4 pcie slots is not exactly cheap and if it contains 1x slots you
now need extenders at approx 8-12 a pop...

are you also factoring in the cost of elect and cooling?

just curious is all. getting a ROI in less then a month or about 1 month just does not add up to me.