20ph increase in btc mining network

[philipma1957]

@philipma1957

Your analysis are most of the time very well thought and good, but you forgot miners who can buy in bulk.
Up 50 Th in 1 go get a reasonable discount, but these whales that come into play now, build their own miners.
Which is incredible cheap to do in China.
They shipped them with pallets to their farm with low electricity costs.
The small guys who bought their gear expensive and have high electricity rates are pushed out of the mining game, which will decrease the difficulty a bit in favour of the big whales and the other small miners who have cheap electricity.

At the end these bastards take a big cut from the pie.
Even for miners with a few hundreds Terahash who don't have electricity costs below 10 cents are having tough times.

well can't disagree with you .   You can't mine in Europe unless you can steal power.


what makes things tough to calculate is not cheap miner availability.  lots available.

 cheap power  how much is there of it.

sake of argument sp30 .6 watts is God, Allah, Jesus , King ,Queen , 'Q' (for us trekies) or any other deity Zeus Odin Thor.

 but lots of .8 watt gear lots of it.  

 At .8 watts and 2 or 3 cents a k-watt making money is easy
Heck I have 2 S-3's at 3.5 cents a kwatt but that is my low cost limit.

What is the power limit for an iceland plant?

or for a washington/oregon power plant?

 we know they have cheap power but how much?

that availability number is not know to me…

for all I know cex.io can run 300ph at 2 cents a watt  and the hashing gear is built . along with the power plants.   they just add 20 or 30 ph when they think it is proper.

that bolded thought it what keeps me going.  the best case for the little guy is that above sentence  is true and the 3 or 4 biggest companies are doing just that.  If so they

want this to last and will not fuck it up.  only time will tell.  

Besides mining is more fun then looking up a btc address and a coinbase price.

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[Guy Corem]

Where did it come from? Sp30s?

No. It's BitFury.

[Bitsaurus]

Where did it come from? Sp30s?

No. It's BitFury.

Aha.  I said Bitfury was quiet lately and I was poopooed.  They have to be doing something instead of just sitting on their aging hardware.

[taipo]

Theres been about 50 TH coming online every couple of minutes, or, with every update at https://bitcoinwisdom.com/bitcoin/difficulty for the last 15 minutes, which puts the network hashrate at 180 PH.

http://www.coinwarz.com/network-hashrate-charts/bitcoin-network-hashrate-chart puts it at about 215 PH at the moment.

If this keeps up then its looking like it might head to about at least a 30% difficulty rise for the next jump.

[Hfleer]

While a sudden 20ph spike is likely variance, the constant increase is just sick. People are really going mad for mining hardwaré.

[Bitsaurus]

It's not variance if it's a sustained increase and it's going even higher, so it looks like indeed somewhere between 30 and 60PH/s has been added to the network.

[xstr8guy]

for all I know cex.io can run 300ph at 2 cents a watt  and the hashing gear is built . along with the power plants.   they just add 20 or 30 ph when they think it is proper.

that bolded thought it what keeps me going.  the best case for the little guy is that above sentence  is true and the 3 or 4 biggest companies are doing just that.  If so they

want this to last and will not fuck it up.  only time will tell.  

Besides mining is more fun then looking up a btc address and a coinbase price.

No one is sitting on 100s of PHs of mining equipment and waiting to deploy them, lol. They push them out onto the network as fast as they can build them.

And they're not waiting before the next difficulty adjustment to do so. That makes absolutely no sense. That's exactly the same as a home miner with 2 new S3s. "Hmm, I think I'll wait 6 days before running my new S3s. I don't want to add to the difficulty until the next adjustment." That just doesn't happen.

[Hfleer]

for all I know cex.io can run 300ph at 2 cents a watt  and the hashing gear is built . along with the power plants.   they just add 20 or 30 ph when they think it is proper.

that bolded thought it what keeps me going.  the best case for the little guy is that above sentence  is true and the 3 or 4 biggest companies are doing just that.  If so they

want this to last and will not fuck it up.  only time will tell. 

Besides mining is more fun then looking up a btc address and a coinbase price.

No one is sitting on 100s of PHs of mining equipment and waiting to deploy them, lol. They push them out onto the network as fast as they can build them.

And they're not waiting before the next difficulty adjustment to do so. That makes absolutely no sense. That's exactly the same as a home miner with 2 new S3s. "Hmm, I think I'll wait 6 days before running my new S3s. I don't want to add to the difficulty until the next adjustment." That just doesn't happen.

###

That is like saying: Hey we can print money, but lets wait until we can print less of it.

[JesseCoin]

Sucks for all the KNC Miners how you gonna ROI now

[dhenson]

Where did it come from? Sp30s?

No. It's BitFury.

Do you KNOW it's BitFury or speculating?

[xstr8guy]

Where did it come from? Sp30s?

No. It's BitFury.

Do you KNOW it's BitFury or speculating?

http://www.datacenterknowledge.com/archives/2014/08/01/bitfury-asic-maker-builds-20mw-bitcoin-mining-data-center/

http://venturebeat.com/2014/07/30/bitfury-announces-hosted-mining-services/

[dhenson]

Where did it come from? Sp30s?

No. It's BitFury.

Do you KNOW it's BitFury or speculating?

http://www.datacenterknowledge.com/archives/2014/08/01/bitfury-asic-maker-builds-20mw-bitcoin-mining-data-center/

http://venturebeat.com/2014/07/30/bitfury-announces-hosted-mining-services/

Thanks, I'd say that's sufficiently convincing.

[Hfleer]

I think it is always so funny, when right before a new type of chip is about to be launched (two weeksTM) the hashrate spikes

[xstr8guy]

I think it is always so funny, when right before a new type of chip is about to be launched (two weeksTM) the hashrate spikes

Except this spike seems to be coming from a year old 55nm chip. Go figure! Lol.

As much as I dislike BFL, I think they have very little (if anything) to do with the network hashrate rising. They've been relegated to being a washed-up has-been.

[philipma1957]

for all I know cex.io can run 300ph at 2 cents a watt  and the hashing gear is built . along with the power plants.   they just add 20 or 30 ph when they think it is proper.

that bolded thought it what keeps me going.  the best case for the little guy is that above sentence  is true and the 3 or 4 biggest companies are doing just that.  If so they

want this to last and will not fuck it up.  only time will tell.  

Besides mining is more fun then looking up a btc address and a coinbase price.

No one is sitting on 100s of PHs of mining equipment and waiting to deploy them, lol. They push them out onto the network as fast as they can build them.

And they're not waiting before the next difficulty adjustment to do so. That makes absolutely no sense. That's exactly the same as a home miner with 2 new S3s. "Hmm, I think I'll wait 6 days before running my new S3s. I don't want to add to the difficulty until the next adjustment." That just doesn't happen.

  if the network has 160ph and you have 300ph sitting in gear you would be a moron to drop the 300 ph into the network.
you do not need to bring on more then 20-35 percent in 1 diff jump. If you are going to be the miner. If you want to sell it that is a different story.

1)you would be competing against yourself.
2)you would also need to build a monster power plant more costly then building the gear.
3) you would also need to cool the gear

My point was building the gear  lets say 300ph may be far easier then deploying the gear. Making it may cost a lot less then we realize.

Big companies have larger scale capabilities then any of us realize.

Bitmain tech has sold more then 14,000 s-3's in a month.

Don't think they can't have made an order of 100,000 and sold it to a group.

 Well it is certain  someone has a very big center being put on line.

 

[Bitsaurus]

for all I know cex.io can run 300ph at 2 cents a watt  and the hashing gear is built . along with the power plants.   they just add 20 or 30 ph when they think it is proper.

that bolded thought it what keeps me going.  the best case for the little guy is that above sentence  is true and the 3 or 4 biggest companies are doing just that.  If so they

want this to last and will not fuck it up.  only time will tell.  

Besides mining is more fun then looking up a btc address and a coinbase price.

No one is sitting on 100s of PHs of mining equipment and waiting to deploy them, lol. They push them out onto the network as fast as they can build them.

And they're not waiting before the next difficulty adjustment to do so. That makes absolutely no sense. That's exactly the same as a home miner with 2 new S3s. "Hmm, I think I'll wait 6 days before running my new S3s. I don't want to add to the difficulty until the next adjustment." That just doesn't happen.

  if the network has 160ph and you have 300ph sitting in gear you would be a moron to drop the 300 ph into the network.
you do not need to bring on more then 20-35 percent in 1 diff jump. If you are going to be the miner. If you want to sell it that is a different story.

1)you would be competing against yourself.
2)you would also need to build a monster power plant more costly then building the gear.
3) you would also need to cool the gear

My point was building the gear  lets say 300ph may be far easier then deploying the gear. Making it may cost a lot less then we realize.

Big companies have larger scale capabilities then any of us realize.

Bitmain tech has sold more then 14,000 s-3's in a month.

Don't think they can't have made an order of 100,000 and sold it to a group.

 Well it is certain  someone has a very big center being put on line.

That is false.  If the network is 160PH and you have 300PH the only reason to not put it online is fear of a 51% attack.  The only person who ever really competed with himself unnecessarily was Satoshi.  The math has been done multiple times over by both Meni and I think OoC did it once.  It never makes sense to withhold hashing power - NEVER!

[Guy Corem]

Where did it come from? Sp30s?

No. It's BitFury.

Do you KNOW it's BitFury or speculating?

I know.

[horcoff]

And what about huge increase in Discus Fish system share https://blockchain.info/pools ? Maybe they are Bitfury clients?

[herebittybittybitty]

And what about huge increase in Discus Fish system share https://blockchain.info/pools ? Maybe they are Bitfury clients?

There's been a pretty large percentage increase over the past couple of days in ghash.io as well. I know BitFury does some of their mining in that pool.

[PBmining]

1)you would be competing against yourself.
 

You are always competing with yourself, whether you add 300 PH/s or 1 GH/s to the network.  That is something that won't change if you add the hash power at a slower rate.  There is no advantage to adding it slower from what I can see.