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Author Topic: Network Hashrate vs. Mining Pool Network hashrate  (Read 48 times)
freddy2020
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March 26, 2020, 10:10:27 AM
 #1

Hi,

So the statistical websites are right now saying that the total hashrate of BTC network is 74-78 EH

The miningpools are displaying 95-98 EH.

What is going on? A 20% difference. Who is right and who is wrong? Is the mining pools making the extra 20% in cash and are delaying the adjustment?

The difficulty have just dropped a lot. Ive noticed that the pooöls are much quicker to adjust when hashrate go the other way, eg when they loose. ?!?

Someone care to explain what is really going on?
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mocacinno
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March 26, 2020, 10:13:42 AM
Merited by philipma1957 (1)
 #2

Hi,

So the statistical websites are right now saying that the total hashrate of BTC network is 74-78 EH

The miningpools are displaying 95-98 EH.

What is going on? A 20% difference. Who is right and who is wrong? Is the mining pools making the extra 20% in cash and are delaying the adjustment?

The difficulty have just dropped a lot. Ive noticed that the pooöls are much quicker to adjust when hashrate go the other way, eg when they loose. ?!?

Someone care to explain what is really going on?

A pool would lose cash if they delayed the difficulty adjustment. Difficulty is adjusted every 2016 blocks, so the only way the can "delay" the difficulty adjustment is if they wouldn't relay blocks they solved. By not relaying these blocks, they'd lose out on 12,5 BTC + sum of all fees of all transactions in the block they solved EVERY time they failed to relay the block...

A pool only makes money when they succesfully solve a block, relay it, and it becomes part of the chain with the most work... They can report whatever they want, only blocks that end up in the longest (most work) chain gives them income.

There is no way to actually know exactly what the network's hashrate is, there are formulas to estimate the hashrate tough: Difficulty * 2**32 / 600
source: https://en.bitcoinwiki.org/wiki/Difficulty_in_Mining

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March 26, 2020, 07:14:31 PM
Merited by philipma1957 (1), mocacinno (1)
 #3

The Network hash rate is a guess - most sites are also really bad at guessing it.

It is based on the block find rate - and is in no way based on the reported hash rate of the pools.

Blocks are found randomly, so there is no way to know exactly what the current network hash rate is.

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Help keep Bitcoin secure by mining on pools with full block verification on all blocks - and NO empty blocks!
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