Hashrate is falling down

[amaclin1]

550084 0000000000000000001e20a14ca3e261abb57dc9c433bb108cbebeb38362b5a6 20:32:04 poolin.com
550085 000000000000000000174f65f0f7e261b79816b220d88f29c5d9f67ce2c804f9 21:30:19 slush
550086 00000000000000000009af5665f97e21c86028f8fad443ecc78792c88a4a496b 21:54:41 slush
550087 00000000000000000018e5b2cda475d948fc26015c0215ac5f95b62bd87c6348 22:19:31 BTC.COM
550088 0000000000000000000437547c2c5fd76b37436c5b5e28d174d2d5a3bbf10078 22:22:27 BTC.COM
550089 00000000000000000002ddeeaa53581b37dd4599651184aa4e8fa925ea520181 22:27:57 BTC.COM
550090 00000000000000000001e8a6e3c6acfbbecaa5a20c0b2807bc29aa4ffdd619cf 23:11:06 BTC.TOP


Are we under attack-51? Does someone mine private chain for reorganizing? 

[Zin-Zang]

Rumors are

Bitcoin mining is not profitable for many miners due to electricity prices of their region, so they are turning their rigs off.

Many Miners are switching to Bcash in order to fight the coming battle from their Nov 15th Fork.

[kompromiss]

the ethereum miners don't get income. need to come up with something new)

[PreethaLewis]

hash rate for BCHSV is higher than BCHABC

[Diced90]

Rumors are

Bitcoin mining is not profitable for many miners due to electricity prices of their region, so they are turning their rigs off.

Many Miners are switching to Bcash in order to fight the coming battle from their Nov 15th Fork.

I wonder if the mining inefficiency is what caused the price drop of Bitcoin today or whether there is another matter at play here, any thoughts?

[mocacinno]

the ethereum miners don't get income. need to come up with something new)

that's a completely different pow algorithm... In this discussion, it doesn't matter what ETH miners think or do, their gear can't influence BTC network's hashrate one way or another...

That being said: I have only looked at the hashrate graph very briefly, but it seems the hashrate has dropped <20% recently. This drop wouldn't be sufficient for a 51% attack, unless the attacker already had loads of asic's that weren't hashing on the bitcoin network to begin with...

I wonder if the mining inefficiency is what caused the price drop of Bitcoin today or whether there is another matter at play here, any thoughts?

Maybe it's the other way around? Because of the price drop, mining became unprofitable for some of the mining farms, so they switched off their gear (or switched to an altcoin that has a better profit ratio)

[amaclin1]

550713 0000000000000000001c8661918a05385dcd5cbd07ea26947b716e685f0e9bbf 15:38:14 BTC.TOP
550714 000000000000000000146b13196e32710a1c07a6293f4535e45596645f02d258 16:39:17 AntPool
550715 000000000000000000100a8208f1a5ab3a4afed7809c2a14a46df026150f5fc0 17:38:05 slush


Blocks come 1 per hour 

[RocketSingh]

550713 0000000000000000001c8661918a05385dcd5cbd07ea26947b716e685f0e9bbf 15:38:14 BTC.TOP
550714 000000000000000000146b13196e32710a1c07a6293f4535e45596645f02d258 16:39:17 AntPool
550715 000000000000000000100a8208f1a5ab3a4afed7809c2a14a46df026150f5fc0 17:38:05 slush


Blocks come 1 per hour 

Instead of just 3 blocks, let's look at last 10 blocks @ https://www.blocktrail.com/BTC

Code:

550715	Slush	8 minutes ago			963.4 kB
550714	AntPool	1 hour 7 minutes ago		970.2 kB
550713	BTC.TOP	2 hours 8 minutes ago		978.3 kB
550712	Slush	2 hours 9 minutes ago		930.0 kB
550711	ViaBTC	2 hours 16 minutes ago		934.9 kB
550710	BTC.com	2 hours 17 minutes ago		945.1 kB
550709	Unknown	2 hours 41 minutes ago		966.2 kB
550708	BTC.com	2 hours 47 minutes ago		923.3 kB
550707	Unknown	2 hours 49 minutes ago		930.3 kB
550706	Slush	3 hours 15 minutes ago		934.1 kB

[bellamente]

Bcash brought a lot of trouble to the whole market. This ABC and SV war will not lead to anything good.

I think the community should choose and support 1 Bcash coin

[amaclin1]

1) Hashrate fallen down in BitcoinABC. https://cash.coin.dance/
2) There are no blocks by BTC(dot)COM for past several hours https://blockdozer.com/blocks
3) The Bitcoin (mainnet) price is falling down

I am not 100% sure but it looks like attack-51 against the Bitcoin network

[franky1]

pools selling their old s9's ready to grab new T15's.

just wait for the rise
and more importantly

enjoy the discounted coins while they last.

2019 gonna be a bumper year

[PsylockReborn]

550084 0000000000000000001e20a14ca3e261abb57dc9c433bb108cbebeb38362b5a6 20:32:04 poolin.com
550085 000000000000000000174f65f0f7e261b79816b220d88f29c5d9f67ce2c804f9 21:30:19 slush
550086 00000000000000000009af5665f97e21c86028f8fad443ecc78792c88a4a496b 21:54:41 slush
550087 00000000000000000018e5b2cda475d948fc26015c0215ac5f95b62bd87c6348 22:19:31 BTC.COM
550088 0000000000000000000437547c2c5fd76b37436c5b5e28d174d2d5a3bbf10078 22:22:27 BTC.COM
550089 00000000000000000002ddeeaa53581b37dd4599651184aa4e8fa925ea520181 22:27:57 BTC.COM
550090 00000000000000000001e8a6e3c6acfbbecaa5a20c0b2807bc29aa4ffdd619cf 23:11:06 BTC.TOP


Are we under attack-51? Does someone mine private chain for reorganizing? 

I guess there's a halt for major mining pools. It's not profitable while bitcoin's value is experiencing bloodbath. We'll just keep calm and relax. This will surely pass and bitcoin will surely recover.

pools selling their old s9's ready to grab new T15's.
enjoy the discounted coins while they last.

When people are panic selling, whales are busy taking advantage of the sale. We should grab this opportunity to accumulate more coins as possible for us to get so much profit by next year.

[levvv]

550084 0000000000000000001e20a14ca3e261abb57dc9c433bb108cbebeb38362b5a6 20:32:04 poolin.com
550085 000000000000000000174f65f0f7e261b79816b220d88f29c5d9f67ce2c804f9 21:30:19 slush
550086 00000000000000000009af5665f97e21c86028f8fad443ecc78792c88a4a496b 21:54:41 slush
550087 00000000000000000018e5b2cda475d948fc26015c0215ac5f95b62bd87c6348 22:19:31 BTC.COM
550088 0000000000000000000437547c2c5fd76b37436c5b5e28d174d2d5a3bbf10078 22:22:27 BTC.COM
550089 00000000000000000002ddeeaa53581b37dd4599651184aa4e8fa925ea520181 22:27:57 BTC.COM
550090 00000000000000000001e8a6e3c6acfbbecaa5a20c0b2807bc29aa4ffdd619cf 23:11:06 BTC.TOP


Are we under attack-51? Does someone mine private chain for reorganizing?  

I think this is a normal phenomenon. When the btc price decreased much, the miners won't get break even point profit so they stop mining for a while,
and this will causing the hashrate to decrease. The electricity bill will bigger than the profit of mining if the price of btc continue to dropping.
I believe the hash rate will be back to normal, if the price of btc rising again in the market.

[strangeu]

The electricity bill will bigger than the profit of mining if the price of btc continue to dropping.

Fortunately, if that's the case and people are switching off, the mining difficulty will drop too.

[Ciscopro2000]

I have turned my mining rig off.  It’s a losing battle at the moment for miners. 

[Herbert2020]

I have turned my mining rig off.  It’s a losing battle at the moment for miners. 

did you have multiple ASICs mining bitcoin?

i am asking this because i am curious since the small time miners i know that have 1 ASIC for example at home mining bitcoin never turn it off because of a price drop. in fact they are happier because they now have a higher chance of making more bitcoin and they are not forced to sell to pay the bills like the bigger miners are. they can still pay their bill without selling bitcoin so it is a big profit for them.

[mocacinno]

--snip--
did you have multiple ASICs mining bitcoin?

i am asking this because i am curious since the small time miners i know that have 1 ASIC for example at home mining bitcoin never turn it off because of a price drop. in fact they are happier because they now have a higher chance of making more bitcoin and they are not forced to sell to pay the bills like the bigger miners are. they can still pay their bill without selling bitcoin so it is a big profit for them.

I'm not sure if i agree with this statement...

I'm living in a country where power costs $0.3/kwu.
Let's do a hypothetical excercise: I have $70 in my pocket, and let's assume the diff and BTC price stays status quo over the next week

Scenario 1: I run my antminer S9 for 1 week
It draws 1375 Watt at the wall and hashes @ 14 Th/s
mining for a full week will result in ~0.00375 BTC
Since i pay about $0.3 for a Kwu, my power bill will be ~$70

Scenario 3: I buy $70 at an exchange
Let's assume i buy in bulk, so the deposit fee, withdrawal fee and exchange fee are neglectible
My $70 buys me 0.0174 BTC

Conclusion
If i invested my money into buying BTC directly, i'd have ~4.5 times more BTC than when i'd invested the same amount of money into mining. Offcourse, if i'd exchanged $70 for BTC from an exchange, i'd probably receive less BTC because they'd charge me all kinds of outrageous fees, but you can always buy from localbitcoins, OTC, or in bulk...

[btyco]

It's a combination of miners fleeing because of the low prices and the sell off for new equipment. Hopefully they will all give up on bitcoin cash and let it burn to the ground

[Kakmakr]

This is how things are supposed to work.  

Miners globally, mine bitcoins at different electricity cost and each miner will have to downscale or switch off their mining rigs, once it becomes less profitable for them to continue mining. When miners exit the scene, the hash rate drop and the difficulty gets adjusted.

The lowering of the difficulty will then encourage miners to enter the scene again, when it becomes more profitable for them to mine the coin.

We also know that some Bitcoin <BTC> miners has been switched to mine Bitcoin Cash to achieve dominance in the Bitcoin Cash fork, so that also attributed to the decrease in the total hash rate.  

Luckily for us the transaction volume also declined, so it's not a big issue now.  

[r1s2g3]

Even with falling hashrate, the current hashrate is comparable to the hashrate at July-2018/Aug 2018.  If we did not experiencedany 51% attack till july 2018( when price is higher than current price) than  we do not need to worry about current hashrate.