Hash Rate just hit 200 000 000 GH/s!

[w4ssop]

The future is in PoS, there's too much energy wasted in PoW...

[1715036570]

1715036570

[X7]

200 freaking petahashes! Goodness gracious.

This was me when I saw the network speeds


(I have a mining operation which im relocating in two locations due to over heads)

[Rigon]

God damn it! I quit! I'm pulling the plug. I am done.

I knew this day was coming soon, but I didn't expect it to arrive until 2015. Yuck!
In a few hours, the difficulty will be ~24 billion.
Did a huge farm just open up recently or something???

Im sure that the guys who are in ROI with there rigs, are just investing and investing so then double to triple there ROI, the ones who started mining in the beginning are the ones who are gonna be left mining bitcoins

[X7]

God damn it! I quit! I'm pulling the plug. I am done.

I knew this day was coming soon, but I didn't expect it to arrive until 2015. Yuck!
In a few hours, the difficulty will be ~24 billion.
Did a huge farm just open up recently or something???

Im sure that the guys who are in ROI with there rigs, are just investing and investing so then double to triple there ROI, the ones who started mining in the beginning are the ones who are gonna be left mining bitcoins

It is no longer a race of who can get the most hard ware... it is now... Who has access to the most cheap power... the hard ware will come.

[Rigon]

God damn it! I quit! I'm pulling the plug. I am done.

I knew this day was coming soon, but I didn't expect it to arrive until 2015. Yuck!
In a few hours, the difficulty will be ~24 billion.
Did a huge farm just open up recently or something???

Im sure that the guys who are in ROI with there rigs, are just investing and investing so then double to triple there ROI, the ones who started mining in the beginning are the ones who are gonna be left mining bitcoins

It is no longer a race of who can get the most hard ware... it is now... Who has access to the most cheap power... the hard ware will come.

Actually that is also true, thats why I been doing research on free energy,  was looking into a invention by skimmer who was able to use gravity power machine to output 10000 times the amount it gets.  Now imagine that, you power 10 th miners with this machine or alot more

[Soccruo]

The hashrate rising is a great healthy sign for bitcoins, maybe the value will rise soon.

[inBitweTrust]

The competition will eventually drive mining operations to use cheap renewable power sources and monetize on all that wasted heat by combing hashing with any other business that require heat. I wouldn't be surprised to see mining operations head towards cooler parts of the world because of this.

POS is vulnerable to additional attacks and unfairly benefits large stake holders so I don't see it as a viable competition against Bitcoin outside a possible sidechain/treechain performing certain tasks. POW greatest weaknesses are also its greatest strength. The "wasted electricity" is an additional security protection to deter an attack on the network. The "wasting of electricity" will drive greener and more innovative forms of conservation. The "wasted electricity" could be recovered as a heat byproduct.(  ASIC's are 99% efficient at converting electricity into heat). The capital investment of Asic's and electricity removes the high degree of capital re-distribution towards the wealthy as miners have narrow margins with POW and in POS forgers have high profit margins with their investments.

[X7]

God damn it! I quit! I'm pulling the plug. I am done.

I knew this day was coming soon, but I didn't expect it to arrive until 2015. Yuck!
In a few hours, the difficulty will be ~24 billion.
Did a huge farm just open up recently or something???

Im sure that the guys who are in ROI with there rigs, are just investing and investing so then double to triple there ROI, the ones who started mining in the beginning are the ones who are gonna be left mining bitcoins

It is no longer a race of who can get the most hard ware... it is now... Who has access to the most cheap power... the hard ware will come.

Actually that is also true, thats why I been doing research on free energy,  was looking into a invention by skimmer who was able to use gravity power machine to output 10000 times the amount it gets.  Now imagine that, you power 10 th miners with this machine or alot more

If you figure it out pm me for a reward lol  

[inBitweTrust]

Actually that is also true, thats why I been doing research on free energy,  was looking into a invention by skimmer who was able to use gravity power machine to output 10000 times the amount it gets.  Now imagine that, you power 10 th miners with this machine or alot more

There is a high possibility that this "Free energy" machine is a scam or the inventor is highly deluded. The laws of energy conservation must be observed. Before wasting any time talk to some skeptics or physicists who aren't associated with this invention or project to save yourself some grief.

[kutaka]

Ok network seems to be secure, I can finally turn off my cpu miner.

[X7]

Ok network seems to be secure, I can finally turn off my cpu miner.

lol - thanks for the laugh loved it - turn off the miner and leave it as a node

[Lethn]

The future is in PoS, there's too much energy wasted in PoW...

We need to just make it go towards something I think, nothing wrong with PoW as an idea, I'd say we need more stuff like CureCoin and Primecoin

[bigasic]

I thought it would be years and years before we hit exohash, but it looks like that could happen in the next year or so.. this is just incredible..

When I was just getting into purchasing asics, yes, I preordered and waited a year. I did worse and best case scenarios, I never thought we would get to 1k per coin, but  i thought 1 petahash would be worse case scenario for the first year of asic mining..

If bitcoin hadn't hit 1k per coin and we were still 20 bucks or lower, Id still be in mining and most of early, lower budget guys would be making a nice living...

while I like the price being in the hundreds of dollars, I hate the fact that businesses with deep pockets seized the opportunity..

[Gleb Gamow]

ASICMiner is rolling out a new farm with the purpose of pushing the competing farms into the red. It is a war of attrition now. Amateur miners are just collateral.

And, don't forget that KnC has three mega-Pharms in The Node Pole, each having ~7,000 fully-functional miners each.

[inBitweTrust]

What I don't understand is why would anyone would pay for cloud hashing? They don't control the miner so they aren't benefiting the network by decentralizing the hashing power and they would profit greater simply by buying Bitcoin directly.

[X7]

ASICMiner is rolling out a new farm with the purpose of pushing the competing farms into the red. It is a war of attrition now. Amateur miners are just collateral.

And, don't forget that KnC has three mega-Pharms in The Node Pole, each having ~7,000 fully-functional miners each.

Yeah it has become pretty gruesome - I had predicted mentally a hash speed of 400-500 Peta by December, all in the hands of 4-5 hardware giants.

[bigasic]

What I don't understand is why would anyone would pay for cloud hashing? They don't control the miner so they aren't benefiting the network by decentralizing the hashing power and they would profit greater simply by buying Bitcoin directly.

a lot of them are ponzi schemes. PBmining has to be the most blatant ones out there. they claim to have close to 2ph but dont have one photo, but they magically keep climbing in hashing power, the more that is purchased the higher they go, its like they have an unlimted supply..

Gavin Anderson actually said that most of these types of miners are ponzis...I wish i had the link but i think its on his  blog..

[ThatDGuy]

Very cool milestone.  Hard to believe how much different the mining landscape was in year intervals going back from today.

[fryarminer]

I need to sharpen my pencil but I don't have time! These cheaters have no respect for those of us who are still using paper!

[Beliathon]

When you look at the videos on youtube about the biggest mining farms, it's insane.
Something like this: https://www.youtube.com/watch?v=ELA91d_mx80

Whoa, 8 million USD of Bitcoin being mined per MONTH. Holy moly, that guy is gonna be RICH when btc hits the moon.