Hash Rate just hit 200 000 000 GH/s!

[Don007]

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

Well, just hashing BTC does bring in BTC in trade of energy.  I know there are some coins out here that actually use the hashrate. That makes the energy wasting quite less, as it actually brings some benefits with it.  For example, use the hashrate somehow to calculate really hard math calculations, or to found out of really heard math calculations appear to be working (as there still are some math calculations that no one has solved yet / can explain yet).  I'm sure there are more ways to spend the huge hashrate usefull.

200 000 000 Gh/s is really a lot. I'm afraid this will hit the difficulty hard to. However, maybe this is going to increase the price of BTC or does it work out somehow positive on the BTC.

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[Beliathon]

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

You should probably read this: http://trilema.com/2014/the-woes-of-altcoin-or-why-there-is-no-such-thing-as-cryptocurrencies/

[MarisaFea]

All of this power! It's the highest I've ever seen in any sort of thing which used computer power.

[X7]

All of this power! It's the highest I've ever seen in any sort of thing which used computer power.

[Nagle]

You can bet on whether the hash rate will exceed 1 exahash/second by the end of 2014.

We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.

Difficulty will go to the MOON!

[bobcaticus]

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.

No, that was from March 2014 and they filmed the segment in Feb.  Difficulty was around 7 or 8 billion during that time.  The "8 million a day" was during the 'gravy month' of december when it was over $1000 a bitcoin.   March was a different story.    Source: I worked there.

[fryarminer]

You can bet on whether the hash rate will exceed 1 exahash/second by the end of 2014.

We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.

Difficulty will go to the MOON!

Greed makes people crazy.

[zedicus]

You can bet on whether the hash rate will exceed 1 exahash/second by the end of 2014.

We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.

Difficulty will go to the MOON!

Difficulty going up is not necessarily good for the bitcoin economy, the price of bitcoin or even bitcoin itself. The main thing that rising difficult is good for is manufactures of miners (as rising difficulty will generally mean they have had higher sales).

The danger of having difficulty too high is that if the cost of electricity to run a miner is close to the USD equivalent of BTC that a miner can produce then if the price of BTC were to fall and remain down for several months then miners might start to take their machines offline in mass. This would cause difficulty to sharply decrease, but before that would happen block confirmation times would slow substantially. 

[X7]

You can bet on whether the hash rate will exceed 1 exahash/second by the end of 2014.

We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.

Difficulty will go to the MOON!

Difficulty going up is not necessarily good for the bitcoin economy, the price of bitcoin or even bitcoin itself. The main thing that rising difficult is good for is manufactures of miners (as rising difficulty will generally mean they have had higher sales).

The danger of having difficulty too high is that if the cost of electricity to run a miner is close to the USD equivalent of BTC that a miner can produce then if the price of BTC were to fall and remain down for several months then miners might start to take their machines offline in mass. This would cause difficulty to sharply decrease, but before that would happen block confirmation times would slow substantially.  

Though there is some validity to your statements - you are assuming Moore's law wont kick in, which is actually happening right now with hard ware and electricity consumption of the hash as well - and necessity is also the mother of all invention, difficulty goes down... BTC goes up... miners come back online.. Satoshi thought this thing through to levels we haven't even looked at

[LiteCoinGuy]

[cryptworld]

And price keeps crashing
even in summer this happens is really bad news
We need a price increase in winter or this will get difficult

[Abomb]

That's some hashin'

    

[bitllionaire]

Incredible
it looked that asics were all sold but they keep appearing
and hashrate goes to moon when price crash 

[fran2k]

Meh, just 0.2 EH/s.

[Mobius]

You can bet on whether the hash rate will exceed 1 exahash/second by the end of 2014.

We're at 0.2 exahash/second now. It took 5 months to get the last 5x increase in the hash rate. 1 exahash/second by the end of the year is possible, with 4.5 months to go.

Difficulty will go to the MOON!

Difficulty going up is not necessarily good for the bitcoin economy, the price of bitcoin or even bitcoin itself. The main thing that rising difficult is good for is manufactures of miners (as rising difficulty will generally mean they have had higher sales).

The danger of having difficulty too high is that if the cost of electricity to run a miner is close to the USD equivalent of BTC that a miner can produce then if the price of BTC were to fall and remain down for several months then miners might start to take their machines offline in mass. This would cause difficulty to sharply decrease, but before that would happen block confirmation times would slow substantially.  

Though there is some validity to your statements - you are assuming Moore's law wont kick in (which is actually happening right now with hard ware and electricity consumption of the hash as well - and necessity is also the mother of all invention, difficulty goes down... BTC goes up... miners come back online.. Satoshi thought this thing through to levels we haven't even looked at

In order for this to be true, difficulty would first need to decrease before old miners would be brought back online. Until that happens, the blockchain would suffer from slower confirmation (and block) times. The difficulty would also need to decrease enough to make up for the fact that the (hypothetical) price of bitcoin had decreased.

[Alley]

Not even 1 exahash? Wake me up next year.

[X7]

Meh, just 0.2 EH/s.

lol this comment made me spit out my coffee

[Nagle]

The danger of having difficulty too high is that if the cost of electricity to run a miner is close to the USD equivalent of BTC that a miner can produce then if the price of BTC were to fall and remain down for several months then miners might start to take their machines offline in mass. This would cause difficulty to sharply decrease, but before that would happen block confirmation times would slow substantially. 

Difficulty adjustment occurs about once every two weeks. There would have to be a huge drop in hashrate in a two week period for confirmation times to be affected much.

That might happen when the block reward halves in 2016. Everyone knows that's coming. Some will exit mining at that point.

[Trillium]

Meh, just 0.2 EH/s.

lol this comment made me spit out my coffee

Only 0.00000002 yottahash nothing to get excited about really.

[Chris_Sabian]

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???

Did you even check a ROI calculator before you bought a miner?  There are several and should be your first stop.