Bitcoin Forum
December 10, 2016, 11:14:52 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: hashrate = 14.5thash/sec, price = $4.22  (Read 1543 times)
eldentyrell
Donator
Legendary
*
Offline Offline

Activity: 966


felonious vagrancy, personified


View Profile WWW
February 18, 2012, 06:49:51 PM
 #1

Anybody got an explanation for this?

The last time the network hashrate broke 14thash/sec the price was up in the high $20's.

The printing press heralded the end of the Dark Ages and made the Enlightenment possible, but it took another three centuries before any country managed to put freedom of the press beyond the reach of legislators.  So it may take a while before cryptocurrencies are free of the AML-NSA-KYC surveillance plague.
1481368492
Hero Member
*
Offline Offline

Posts: 1481368492

View Profile Personal Message (Offline)

Ignore
1481368492
Reply with quote  #2

1481368492
Report to moderator
1481368492
Hero Member
*
Offline Offline

Posts: 1481368492

View Profile Personal Message (Offline)

Ignore
1481368492
Reply with quote  #2

1481368492
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
mcorlett
Donator
Sr. Member
*
Offline Offline

Activity: 308



View Profile
February 18, 2012, 06:53:22 PM
 #2

It's probably just the bump in mining investments resulting from the price bump in January.

notme
Legendary
*
Offline Offline

Activity: 1540


View Profile
February 18, 2012, 06:56:55 PM
 #3

Bitcoin never closed a week above $20, so price was never really "in the high $20s" for an amount of time that can effect mining power.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
gusti
Legendary
*
Offline Offline

Activity: 1102


View Profile
February 18, 2012, 07:00:07 PM
 #4

Network hashrate is calculated upon the number of blocks discovered, not measured.
Transient peaks may reflect variance regarding luck. 

If you don't own the private keys, you don't own the coins.
copumpkin
Donator
Sr. Member
*
Offline Offline

Activity: 266


I'm actually a pineapple


View Profile
February 18, 2012, 07:00:10 PM
 #5

Anybody got an explanation for this?

Sure: the numbers are mostly uncorrelated.
RyNinDaCleM
Legendary
*
Offline Offline

Activity: 2002


Legen -wait for it- dary


View Profile
February 18, 2012, 07:02:18 PM
 #6

I don't see it!  Undecided



Looks like 10TH to me. Difficulty just changed too. So there is a couple days of wild estimates on network hashrate.

It's probably just the bump in mining investments resulting from the price bump in January.

This too.
Look at the high in the end of August '11, It's nearly three full months after the $32 high.

notme
Legendary
*
Offline Offline

Activity: 1540


View Profile
February 18, 2012, 07:05:12 PM
 #7

I think he might have been misreading at the difficulty numbers.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
eldentyrell
Donator
Legendary
*
Offline Offline

Activity: 966


felonious vagrancy, personified


View Profile WWW
February 18, 2012, 07:07:56 PM
 #8

Looks like 10TH to me. Difficulty just changed too. So there is a couple days of wild estimates on network hashrate.

Best explanation yet.  I was just going by the number in the corner of the screen at bitcoincharts.com.

The printing press heralded the end of the Dark Ages and made the Enlightenment possible, but it took another three centuries before any country managed to put freedom of the press beyond the reach of legislators.  So it may take a while before cryptocurrencies are free of the AML-NSA-KYC surveillance plague.
the joint
Legendary
*
Offline Offline

Activity: 1792



View Profile
February 18, 2012, 07:16:13 PM
 #9

Interesting, I was just about to make a thread about this.

So, Bitcoinwatch  and Bitcoincharts simply reflect the "hashrate" according to how many blocks are actually solved, and not how much computational power is actually there?

That seems a little weird to me.  Definite patterns emerge on the graph at Bitcoinwatch, and it seems hard to believe that simple variance creates these patterns.

Mushoz
Hero Member
*****
Offline Offline

Activity: 686


Bitbuy


View Profile WWW
February 18, 2012, 07:18:01 PM
 #10

Interesting, I was just about to make a thread about this.

So, Bitcoinwatch  and Bitcoincharts simply reflect the "hashrate" according to how many blocks are actually solved, and not how much computational power is actually there?

That seems a little weird to me.  Definite patterns emerge on the graph at Bitcoinwatch, and it seems hard to believe that simple variance creates these patterns.

There is no direct way of measuring the hashrate of the network. The only thing possible is to guess the network's hashrate by looking at how fast blocks are getting solved, and what the current difficulty is.

www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
gusti
Legendary
*
Offline Offline

Activity: 1102


View Profile
February 18, 2012, 07:18:56 PM
 #11

Interesting, I was just about to make a thread about this.

So, Bitcoinwatch  and Bitcoincharts simply reflect the "hashrate" according to how many blocks are actually solved, and not how much computational power is actually there?

That seems a little weird to me.  Definite patterns emerge on the graph at Bitcoinwatch, and it seems hard to believe that simple variance creates these patterns.

For what I understand (I may be wrong) there is no way to measure hashrate.
Only reflect it as a calculation of difficulty and solved blocks in a certain period.


If you don't own the private keys, you don't own the coins.
the joint
Legendary
*
Offline Offline

Activity: 1792



View Profile
February 18, 2012, 07:24:21 PM
 #12

Ok, makes sense.  But there seriously have been very few slow blocks all day at Deepbit.  I'd say just by simply looking at the rate at which blocks are being solved its obvious that more hardware is being used today.

It was enough to make me change my Deepbit address for the first time in a while.

RyNinDaCleM
Legendary
*
Offline Offline

Activity: 2002


Legen -wait for it- dary


View Profile
February 18, 2012, 07:25:55 PM
 #13

Looks like 10TH to me. Difficulty just changed too. So there is a couple days of wild estimates on network hashrate.

Best explanation yet.  I was just going by the number in the corner of the screen at bitcoincharts.com.

I've always found their estimate to be quite a bit higher than the Bitcoinwatch.com one.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!