I've been watching the total hashing speed daily and i've noticed it fluctuating between 8.9-14.7 th/s, and looking on the forums for an answer to what's causing it. Does anyone have any ideas other than botnets? Almost a 40% drop seems a bit much to chalk up to pools and/or personal miners losing connectivity.
I think it's important to remember that the hash rate is an estimate based on production rate and there's randomness in rate of production
. Sometimes the network is really lucky and produces several blocks in a very short span, even as quickly as seconds between blocks. Sometimes the network is really unlucky and it takes a lot longer than 10 minutes to produce a new block. Those variations are reflected in the estimates. That, of course, isn't all there is to it, but it does play a noticeable role.
This accounts for ~90% of the fluctuation. If you think about it, in the WHOLE world, only one BitCoin block is solved every 10 minutes. Sometimes, the block takes 15 minutes, and others, 5 minutes. This where the wild fluctuation occur, and why you need to look at a longer data set to get a more general look at the network.
Either that or it's BFL cycling their farm of MiniRigs before they ship