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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3897386 times)
gog1
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January 03, 2015, 06:45:14 AM
 #24941

mining is a tough game
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ensurance982
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January 03, 2015, 12:43:01 PM
 #24942

mining is a tough game

Speaking of mining: What is actually the most probable explanation for the hash rate skyrocketing (https://bitcoinwisdom.com/bitcoin/difficulty) again? Is it spondoolies, Bitfury, Bitmain?... Haven't followed the developments over Christmas and New Years...

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January 03, 2015, 03:34:58 PM
 #24943

mining is a tough game

Speaking of mining: What is actually the most probable explanation for the hash rate skyrocketing (https://bitcoinwisdom.com/bitcoin/difficulty) again? Is it spondoolies, Bitfury, Bitmain?... Haven't followed the developments over Christmas and New Years...

 It might be luck combined with Bitmain S5's coming online.  This is what they were claiming:

The Bitmain AntMiner S5 should offer 1155 GHS hashrate with 590 Watt power usage at the wall according to the specifications, though that value may vary based on the power supply that you may pair the miner with (power supply is not included). The first batch of the S5 ASIC miners costs $418 USD and should start shipping on December 27th, the second batch is slightly cheaper at $413 USD per unit and should start shipping on January 4th 2015 or a few days later

 The dates align with the network hashrate peaks but I have no idea of the number which constitutes a "batch" of Antminers.  Bitmain is reliable and have previously shipped earlier than promised.


The S5 has a hashrate of ~ 1.1 TH/s.  For the sake of this calculation, call it 1 Th/s.

In the last 10 days, ~ 30 Ph/s was added to the network.  That would require ~30,000 S5 turned on in the last 10 days.  Assuming 0.5 gh/w, that is 15 MW of power needed to power these machines.
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January 03, 2015, 03:45:28 PM
 #24944

The hashrate is jumping because after losing their butts mining the latest crapcoin scam they are pointing their rigs back to bitcoin.
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January 03, 2015, 06:56:40 PM
 #24945

Wherever it came from, it's happening!  (cue Ron Paul) ..and it's new hashing power.

Yeah, something is happening, and it's very interesting to see it happening at this point in time. But we can be pretty certain it is not AM with generation 4 hardware. Theoretically it could be the rest of gen 3 coming online, but I don't think that AM put any money in that anymore since they could deploy gen 4 massively in February/March!

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January 03, 2015, 07:00:43 PM
 #24946

New hash comes online every day via a variety of manufacturers and sales. Hence the track record of endless increases in the hashrate since ASICs were released. However, for a period of months a fairly large amount of hash was diverted to crapcoin.This led to two months of rather atypical stability in bitcoin hashrates. It was being pointed to crapcoin faster than new hash was coming on line and so the diff even dropped. Now that it is all being redirected back at btc we have over two months of growth showing up all at once. It makes it appear as if a bunch of new machines all just appeared out of nowhere, but like I said, it is just two months of growth showing up in just a few days. Of course it spikes the hashrate. You could easily end up with a 40% diff increase by the time the dust settles.
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January 03, 2015, 08:15:04 PM
 #24947

Antpool is at 15-16% of the network. Last month IIRC, they were around 5%.
Its safe to assume this spike (ignoring the more recent drop because of paycoin) is caused mainly by bitmain
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January 03, 2015, 08:43:14 PM
 #24948

Antpool is at 15-16% of the network. Last month IIRC, they were around 5%.
Its safe to assume this spike (ignoring the more recent drop because of paycoin) is caused mainly by bitmain

Man I'm glad I totally slept through that whole Paycoin thing. It seems like a lot of people got scammed there, right? It seems to be one of the most intricate pump and dumps yet, doesn't it? Don't the founders get like an exponential reward? Isn't the whole thing inflationary?

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January 05, 2015, 07:57:36 PM
 #24949

meanwhile, stamp going down because security compromise

Good things come to those who wait.
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January 06, 2015, 01:15:41 AM
 #24950

meanwhile, stamp going down because security compromise
19,000 BTC confirmed stolen from Hot Wallet!!

*Jeeez, the hits just keep on a comin!

Bibox Exchange
https://www.bibox.com/signPage?id=11907482

BTC: 1NPQP9Z4Ju6rTnH4uR6986kGVnEkpyYFJZ
LTC: M9Eo9tTiohSLwDMKyMeAFdsuVaFWCCxM3G
ETH/ERC20: 0x4360038b0f4b198b18458a1f0e468b3ebe483ee6
ETC: 0x4360038b0f4b198b18458a1f0e468b3ebe483ee6
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January 06, 2015, 05:32:59 AM
 #24951

meanwhile, stamp going down because security compromise
19,000 BTC confirmed stolen from Hot Wallet!!

*Jeeez, the hits just keep on a comin!

At this rate the market is going to be begging for mercy one way or another
Anyways the year is young and AM is Chinese so at least bitstamp getting hacked is not going to affect operations much here
(Except if they need to use funds to convert to USD)
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January 06, 2015, 06:15:56 AM
 #24952

Paycoin wakeup and Bitstamp hack is the news for the difficulty and the price.
I am happy to agree with Kipsy89 as I have learned about Paycoin just a few days ago and "missed the train" Smiley
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January 06, 2015, 11:02:04 AM
 #24953

It's 2015. Are we going to see some financials soon? This is ridiculous

There are only so many reasons you would delay a financials release.
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January 06, 2015, 12:01:26 PM
 #24954

Paycoin wakeup and Bitstamp hack is the news for the difficulty and the price.
I am happy to agree with Kipsy89 as I have learned about Paycoin just a few days ago and "missed the train" Smiley

You better educate yourself about clams then, so you dont miss the real alt coin train.
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January 06, 2015, 01:07:20 PM
 #24955

Yeah Paycoin seems to be rather scammy to me, as well. What Bitstamp is concerned, I believe they will pull through, though - don't you think? Gox was worse by orders of magnitude... Even if they couldn't cover the lost coins, getting back 85% is a lot better than 0%...

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January 06, 2015, 01:08:59 PM
 #24956

Yeah Paycoin seems to be rather scammy to me, as well. What Bitstamp is concerned, I believe they will pull through, though - don't you think? Gox was worse by orders of magnitude... Even if they couldn't cover the lost coins, getting back 85% is a lot better than 0%...

BitStamp said they have more than enough in cold storage to cover all the losses.
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January 06, 2015, 01:16:36 PM
 #24957

Yeah Paycoin seems to be rather scammy to me, as well. What Bitstamp is concerned, I believe they will pull through, though - don't you think? Gox was worse by orders of magnitude... Even if they couldn't cover the lost coins, getting back 85% is a lot better than 0%...

BitStamp said they have more than enough in cold storage to cover all the losses.

Yeah I know, I was just asking whether you guys believe that. I actually do. I think a loss of 15% can be managed. Gox on the other hand even lost more than they even had in the first place.

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January 06, 2015, 09:40:30 PM
 #24958

Yeah Paycoin seems to be rather scammy to me, as well. What Bitstamp is concerned, I believe they will pull through, though - don't you think? Gox was worse by orders of magnitude... Even if they couldn't cover the lost coins, getting back 85% is a lot better than 0%...

BitStamp said they have more than enough in cold storage to cover all the losses.

Yeah I know, I was just asking whether you guys believe that. I actually do. I think a loss of 15% can be managed. Gox on the other hand even lost more than they even had in the first place.

I'd like to see the audit that shows they do have that kind of bitcoin just laying around.  I guess their VCs will have to bail them out?  That's terrible news for them if that's the case! 
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January 06, 2015, 10:59:36 PM
 #24959

yes. wasnt the big news for them the fact that they secured 10 million in VC funding? Half of that gone. poof. that could be irreparable. I sure hope not. They are good guys but I wouldn't like to see them "finish last"
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January 06, 2015, 11:33:33 PM
 #24960

yes. wasnt the big news for them the fact that they secured 10 million in VC funding? Half of that gone. poof. that could be irreparable. I sure hope not. They are good guys but I wouldn't like to see them "finish last"

Well Venture capital is there for those unfortunate events...
Still I hope were not writing new pages a few months from now about how this was a secret Ryan Kennedy operation and to fund their operations gap they transfer ownership to a scammer like Moolah did.
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