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Author Topic: Why is our hashing power declining?  (Read 2812 times)
MrGaSp
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May 12, 2011, 08:39:38 PM
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Why a bit after the difficulty increase, is our hashing power declining, did a significant amount of miners stop?  if so, and you are one, why?

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grue
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May 12, 2011, 08:42:31 PM
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because the difficulty increase made it unprofitable for those miners, so they stopped.

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MrGaSp
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May 12, 2011, 08:44:28 PM
 #3

when do you think it will stop(if before next difficulty change)

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May 12, 2011, 08:45:33 PM
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because the difficulty increase made it unprofitable for those miners, so they stopped.

Given the rise in BTC price, which is a greater percentage hike than the difficulty, that certainly isn't the cause.  

I'm inclined to say it's a portion of the OCN miners that came in as a result of the forum thread there losing interested.  Most the people on those boards are high school / college kids, and came here thinking Bitcoin was a way to make fast easy money with their gaming rigs.  Once the thread got locked, it stopped getting promoted as much and now the surge is dying out.  Just my personal theory for PART of the decline.

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vuce
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May 12, 2011, 08:46:15 PM
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because the difficulty increase made it unprofitable for those miners, so they stopped.
i don't think that's the case since bitcoin value also went up for ~40%. I think this is just a temporary drop and it'll be back to full speed shortly.
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May 12, 2011, 08:50:46 PM
 #6

Warm weather?  Summer electricity rates kick in soon also.

We are getting high enough difficulty to the point where the single gpu miner could have a few problems

1)  Very few coins
2)  Difficulty selling coins (establishing rating, gpg ident, not enough capital for mtgox, etc)
3)  Fan noise is getting old

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May 12, 2011, 08:53:51 PM
 #7

Don't forget slush's pool going down for a while, and many people may not have noticed right away.

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May 12, 2011, 08:55:23 PM
 #8

Don't forget slush's pool going down for a while, and many people may not have noticed right away.

This, regular DDoS attacks, and college ending so kids having to pack up and go home might account for a good bit of this.
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May 12, 2011, 08:55:43 PM
 #9

Why a bit after the difficulty increase, is our hashing power declining, did a significant amount of miners stop?  if so, and you are one, why?
I know more than one who has stopped completely or reduced their activity due to heat.  Summer is coming. And I think the high difficulty make many CPU miners give up.  Too hot and enough fan noise for almost no coins.

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MrGaSp
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May 12, 2011, 08:56:00 PM
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Yea, i noticed the other day my bedroom was really warm from a warm day here...its colder than it has been in past years, but it was a random, one day.  I stopped my miner that night to try and lower the temp in the apartment, but it was cold the next day.  it just seems sharp for people to switch off from noise though, but heat and difficulty increase probably payed a part in it.. I wonder what mid summer will do to the hash rates

Don't forget slush's pool going down for a while, and many people may not have noticed right away.

Good point, i noticed that about an hour ago that their hash rate share on bitcoin watch was low..

zoro
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May 12, 2011, 10:17:09 PM
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i don't know if and how the total hash rate is measured.
the only steady measurements are the difficulty and the blocks/hour.
perhaps this is how hashrate is measured, thus it is
not a real but an estimated value. It could be high due to good luck or lower when blocks/hour is lower!

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May 12, 2011, 10:37:12 PM
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Quote
Why is our hashing power declining?
Mammy and Daddy got an electric bill and confiscated the computer maybe?

If they got "electric" bill they might have been SHOCKED  Smiley Hope the Voltage wasn't too high  Grin

Bad joke  Grin
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May 13, 2011, 12:25:01 AM
 #13

nahh it was a good joke  Grin

I thought it was hilarious, and I think there's definitely some truth to it.
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May 13, 2011, 12:40:20 AM
 #14

As the difficulty rises, I expect to see a bigger dip in hash rate (obviously) as single GPU miners and low hash rate miners start to drop out due to ROI.  Only the larger mining operations are going to remain at some point and I think the dip in hash rate is first small indications of that, to a small point.  There are many factors to the dip, I'm sure, but I think part of it is exactly that - it's not as profitable so the smaller miners are dropping out.  I expect that trend to increase dramatically in the near future.

If you're searching these lines for a point, you've probably missed it.  There was never anything there in the first place.
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May 13, 2011, 01:10:01 AM
 #15

Well I suppose that's not such a bad thing. Us more persistent miner will be there quietly mining and minding our own biz. I found a solution to the coming summer heat problem Smiley (no, not AC - that would lower profitability) so I'm still going to mine even in the summer. The thing is that sooner or later the difficulty is going to push the majority of "non-professional" miners out of the market and we'll have a hodgepodge of large and dedicated miners doing most of the work.

steelhouse
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May 13, 2011, 02:00:41 AM
 #16

Why it has never been more profitable to mine.
Kluge
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May 13, 2011, 02:13:44 AM
 #17

Why it has never been more profitable to mine.

No kidding. I don't understand these "it's becoming unprofitable to mine" arguments. Couldn't be further from the truth. Before the last difficulty increase, BTC was $4-5. Now we're well upward of $7. The market is adjusting for difficulty increases.

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May 13, 2011, 02:14:54 AM
 #18

Mammy and Daddy got an electric bill and confiscated the computer maybe?

I've been counting on this to happen, but the real A/C bills won't start arriving for a couple of months so it has to be something else.

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SgtSpike
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May 13, 2011, 03:09:45 AM
 #19

Quote
Why is our hashing power declining?
Mammy and Daddy got an electric bill and confiscated the computer maybe?

If they got "electric" bill they might have been SHOCKED  Smiley Hope the Voltage wasn't too high  Grin

Bad joke  Grin
You mean they might have resistance to the idea of spending so much more money on their electric bill?
If they want to stay current on the bills, they better use their power to lighten the load on their local grid.
rezin777
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May 13, 2011, 03:15:16 AM
 #20

Why did it go up in the first place?
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