Bitcoin Hashrate Chart CoinWarz

Mining Bitcoin

Bitcoin mining is analogous to the mining of gold, but its digital form. The process involves specialized computers solving algorithmic equations or hash functions. These problems help miners to confirm blocks of transactions held within the network. Bitcoin mining provides a reward for miners by paying out in Bitcoin in turn the miners confirm transactions on the blockchain. Miners introduce new Bitcoin into the network and also secure the system with transaction confirmation.
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Primecoin

Discussion about Primecoin and its infra. Primecoin is a very innovative cryptocurrency, being the 1st non Hash-Cash PoW crypto, naturally scarce (not artificially), with very fast confirmations (1min), elastic readjusting reward & a useful mining (byproducts are primes). Primecoin is sustainable (miners are guaranteed to have revenues), and decentralized (ASIC/FPGA are not particularly advantaged). Sidechain for decentralized data applications (e.g. Storj) currently in development.
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ETH Insider - Ethereum Forums, News, Trading & ICO's

ETH discussion board with a focus on ETH and ETH tokens. Alt-talk only if it is highly relevant for the current price. No FUD, No Hype, No Spamming. Thank you!
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Is it mathematically correct to assert "The Bitcoin network hash number target started at (2^256 - 1) and is now (2^192)"?

From the title:
Is it mathematically correct to assert "The Bitcoin network hash number target started at (2256 - 1) and is now (2192)"?
submitted by sheldonth to Bitcoin [link] [comments]

Why Ethereum Mining?

1. High market capitalization, second to bitcoin only
Ethereum is the most dynamic blockchain platform in the world, and Ether is the second largest cryptocurrency in the world by market capitalization. There are around 1,200,000 transactions processed per day on this platform. Numbers explain everything.
https://preview.redd.it/w57fpy6njvp51.png?width=398&format=png&auto=webp&s=dbac1c20eaa78a503b71c8f667b12293f9079208
2. Dapps on Ethereum outnumbers any other blockchain platform
Not only just a digital currency or commodity, ethereum also keeps its original motivation to be a global computing platform that allows users to deploy smart contract on it. As a kind of smart contract programmed for a specific use, there are about 2 ,000 decentralized applications, or dapps, deployed on ethereum by this June, which is more than the total numbers of dapps deployed on any other general purpose blockchain platform in the world combined.
https://preview.redd.it/vau9ezssjvp51.png?width=461&format=png&auto=webp&s=02f121dce31a405802721a878a74a7b3e16cde14
3. Considerable payback
ETH mining profit basically consists of two parts: the value of the coins and the transaction commission. Once you mined a block, you will not only get the coins, but also the commission to prove the transactions that will be processed in the network. Because of the network congestion brought up by DeFi application ‘s popularity, transaction commission contributes much to the mining profit recently.
(Averages on 17th September,2020:
Ether Price: $389.49
Gas Price: 538 Gwei
Gas Limit:12,472,107
*Commission=538*12472107=6,709,993,566Gwei≈6.71ETH)
https://preview.redd.it/exsbhw4ujvp51.png?width=399&format=png&auto=webp&s=b781f5ab2bac90304fd3be021def54501ba7252b
https://preview.redd.it/teo1s1rujvp51.png?width=409&format=png&auto=webp&s=f77a33453688168a976c7313d0887a0a01b19534
Below is a profitability ranking of ASIC miners for some mainstream crypto coins when Gas price is around 60~70Gwei and coin price is about $360. I couldn’t find a ranking that could include all AISIC miners and GPU miners, but it’s enough to show that ETH mining is much more profitable than others. Even though when Gas price and coin price is not very high, the revenue of ETH mining still beats other mainstream cryptocurrencies.
https://preview.redd.it/ht2j1evvjvp51.png?width=557&format=png&auto=webp&s=9b415f227b9c0a00cf7af9682eea85ef9b85e6d8
4. Lower Network Difficulty
Compare to bitcoin network hash rate, Ethereum network hash rate is only 244.14TH/s; Less network hash rate means less difficulty, furtherly means that there will be more chance to mine a block and get coins. Nowadays, for bitcoin mining, the possibility to mine a block solo is almost zero, but for ETH mining it is still possible. In my opinion it is the golden time for ETH mining.
https://preview.redd.it/vsl0b2swjvp51.png?width=533&format=png&auto=webp&s=e8c335c4476c27cfe3872433acf08f3747ce7d05
Whether you are a new bird or an experienced senior in this field, ETH mining is the best choice in 2020.
submitted by Gravityfreeyo to EtherMining [link] [comments]

Riot Blockchain compra 5.100 Antminers y busca controlar el 1,66% de la tasa de hash de Bitcoin Network

Riot Blockchain compra 5.100 Antminers y busca controlar el 1,66% de la tasa de hash de Bitcoin Network submitted by raaner12 to CryptoMonedas [link] [comments]

Bitcoin hashrate remains strong during monsoon season

This post was originally published on this siteThis post was originally published on this siteThe Bitcoin network hash rate has remained strong and been largely unaffected by the rainy season and power outages in China, according to a Sept. 10 report by Stack Funds. Coin Metrics data supports the assertion, and the 7-day average Bitcoin (BTC) hash rate has remained above 120 […]
submitted by FuzzyOneAdmin to fuzzyone [link] [comments]

Bitcoin Network Hash Rate Breaks New Record - Will Price Follow?

https://www.cryptozink.io/bitcoin-network-hash-rate-hits-new-record-highs/
submitted by cryptozink to Bitcoin [link] [comments]

What Makes Bitcoin Special?

Is Bitcoin special because on 1st January , the Bitcoin network hash rate reached a record high at 119 trillions of hashes per second?
Is it the fact that Bitcoin is highly liquid, with a current 24 hour trading volume of $26,000,000,000?
Is it the fact that many cryptos trade against Bitcoin on majority of exchanges, and their price is often displayed relative to the price of Bitcoin as well as relative to FIAT?
What do you think makes Bitcoin special?
submitted by FluidAttitude to btc [link] [comments]

Why centralization of mining is not a threat BTC

According to a research by TokenAnalyst, it can be that 50% of the bitcoin hash rate is controlled by one company. Analysts found that five large mining pools have teamed up to launch a single cloud mining service.
“Any centralisation of bitcoin network hash power should be of concern,” the TokenAnalyst summarizes.
Indeed, the owner of 51% of the capacity can try double-spending or even cancelling transactions. But how beneficial is it? The very bitcoin creator Satoshi Nakamoto wrote in bitcoin’s White Paper:
“If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins. He ought to find it more profitable to play by the rules, such rules that favour him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth.”
Thus, it is more beneficial for the owner of a large number of capacities to continue to mine cryptocurrency rather than to manipulate the blockchain. This is confirmed by other cryptocurrencies (for example, BCH and BCV), whose centralization is much more pronounced. However, their networks are still functioning, and no one is engaged in “51% attacks”.
submitted by bestchange_pr to bestchange [link] [comments]

On October 18, 2019 (Friday), the 18 millionth bitcoin will be mined, halving

On October 18, 2019 (Friday), the 18 millionth bitcoin will be mined, halving

https://preview.redd.it/d0td737bh7t31.jpg?width=740&format=pjpg&auto=webp&s=7e9d72d5a65da5e2b698cc2ce3b00d9c7aed01e8
Anthony Pompliano, co-founder of Morgan Creek Digital Assets, a US investor and investment company, posted a tweet on October 15. It is expected that the 18 million bitcoin (BTC) will be mined this Friday.
Only three million BTC left
Pompliano also pointed out that currently only 3 million BTCs are available for mining. The tweet calls for raising awareness of the world's best-known cryptocurrencies:
"The 18 million bitcoins will be mined this Friday. There are only 3 million. Let us be the trend of topic tags so that the world can understand Bitcoin."
This move is not surprising, as he said that in the CNBC forum, more than half of his net worth is in Bitcoin in August. He hinted that according to the BitcoinBlockHalf data of the Bitcoin data website, 17,997,150 BTCs have been mined so far, and the system has set a BTC limit of 21 million.
Bitcoin block rewards will be reduced
As the number of tokens earned by protecting the Bitcoin blockchain continues to decrease, the halving of BTC is also close. The move will see a halving of the number of bitcoins created in each new block.
BitcoinBlockHalf estimates that due to the irregularity of Bitcoin block time, the halving date is tentatively scheduled for May 14, 2020 - the block reward will be reduced from 12.5 coins to 6.25 coins. The website also pointed out that 85.7% of all BTCs have been mined.
As the number of BTCs mined decreases, competition for these bitcoins seems to increase. Bitcoin's network hash rate surpassed a record 10.2 billion hashes for the first time in token history.
📷
submitted by Moustache_Group to Bitcoin [link] [comments]

Roger Ver 2017: "Today approximately 40% of the network hash power is signaling that they wish to begin producing larger blocks." Roger, do you see how today you are the negative of yourself from 1 year ago? That Roger saved Bitcoin, today's Roger is killing it.

Roger Ver 2017: submitted by heuristicpunch to btc [link] [comments]

TestGains

Crypto News Summary- September 24
🔹 General News: ⚖️ Bitfinex and Tether win appeal from New York Supreme Court In $900 million case 🕧 SEC has delayed making a decision on the Wilshire Phoenix bitcoin ETF ♎️ EU and Libra: Facebook’s project gets challenged as ‘EuroCoin’ looms 🤝 Cisco partners with SingularityNET on decentralized artificial intelligence ⬇️ Bitcoin Network hash rate mysteriously flash crashes by 40%. BTC price also went down $1,500 in less than a day 🇫🇷 France: 25,000 major retail stores to accept Bitcoin in 2020 ➕ Ripple adds UAE banking giant National Bank of Fujairah to RippleNet
🔹 Coin Specific News: 🔥 Binance adds margin trading for MATIC 💥 Kraken has announced that Chainlink (LINK) and Dai (DAI) will be listed starting September 25
🔹 Exchanges: ✅ Binance exchange receives ISO accreditation 🏦 OKEx official denies BTI’s allegations of wash trading
🔹 Cool tech fact: Spam mail got its name from the canned meat after a Monty Python skit that made fun of Spam as tasting “horrible and being ubiquitous and inescapable.”
💬 Quote of the day: "Always try to learn from other people's mistakes, not your own- it is much cheaper that way!"— Donald Trump
🔹 Brought to you by @GainsANN
submitted by gainsTest to CryptoNews [link] [comments]

Bitcoin Hash Rate Hits 102 Quintillion in Historic Network Milestone

Bitcoin Hash Rate Hits 102 Quintillion in Historic Network Milestone


Article by Cointelegraph: William Suberg
Bitcoin’s (BTC) network hash rate has passed a record 102 quintillion hashes for the first time in history in a historic milestone for the cryptocurrency.

Bitcoin adds another zero to hash rate

As data from monitoring resource Blockchain confirmed on Sept. 18, hash rate, ultimately a function of how secure the Bitcoin network is, has reached a high of 102.8 quintillion hashes.


Bitcoin network hash rate. Source: Blockchain
The achievement follows a string of records for the metric this year, Cointelegraph reporting on various stages of its expansion over the past few months.
Hash rate refers to the amount of computing power involved in processing Bitcoin transactions. The higher the number of hashes, the more implied competition there is among miners to obtain the block reward.
Since December 2018, the hash rate has progressed from its recent low of 31 quintillion hashes per second, equating to the progress of 230%.

Bitcoin proponents eye price implications

Current growth has excited commentators, despite coming in tandem with a moderate decline in Bitcoin price.
As many noted, new upward action for hash rate tends may hint at future price growth. Hash rate began growing in January after several months of decline, with price then following in April.
Commenting on the current rate of growth, Lightning Torch organizer Hodlonaut said the figures spoke to underlying confidence among miners.
“Last readjustment period (2016 blocks, or around 2 weeks) increased 10.38%. We are about half way through the current readjustment period, and on track for another 11.85% increase,” he forecast.
Others have already given more bullish predictions. Max Keiser, a firm believer in Bitcoin’s prowess over altcoins, has frequently doubled down on his depiction of giant surges in both hash rate and price in the near future.
submitted by GTE_IO to u/GTE_IO [link] [comments]

bitcoin(BTC) added hash rate equivalent to 1.5 BCH("bitcoin cash") networks in the last 24 hours.

bitcoin(BTC) added hash rate equivalent to 1.5 BCH( submitted by Hernzzzz to btc [link] [comments]

08-02 11:33 - 'This prediction states the Bitcoin network hash rate will reach 100 EH/s this year. Possible?' (twitter.com) by /u/artur97 removed from /r/Bitcoin within 22-32min

This prediction states the Bitcoin network hash rate will reach 100 EH/s this year. Possible?
Go1dfish undelete link
unreddit undelete link
Author: artur97
submitted by removalbot to removalbot [link] [comments]

Bitcoin Costs $1.4 Billion to 51% Attack

Calculations and Math (Nov 29, 2018)
Fixed Costs:
The 7 day average of the Bitcoin network hash rate, as of November 23rd 16:00 UTC, is 41,483,931 terahashes. https://www.blockchain.com/en/charts/hash-rate
To acquire more than 50 percent of the Bitcoin network, an attacker would need at minimum the same number of ASICs that are already in circulation.
Network hash rate / terahashes per ASIC = number of ASICs necessary to acquire 50 percent * 41,483,931 network terahashes / 14 terahashes = 2,963,138 S9is * 41,483,931 network terahashes / 23 terahashes = 1,803,649 T15s
Calculations for total current ASIC usage: 2,963,138 * 1.75 (crude estimate accounting for older models) = 5,185,492
Including bulk discount of 10 percent for the size of the purchase and economies of scale.
Infrastructure costs such as housing are a multiple of hardware costs from anywhere between an additional 22 percent to 40 percent, according to the CEO of a large-scale mining operation based in Canada. We will use the low figure to again account for economies of scale.
Variable Costs:
Costs of daily electricity consumption for S9i: * 2,963,138 ASICs * 1320W = 3,911,342,160 Watts * 3,911,342,160 Watts / 1000 = 3,911,342 kWh * 3,911,342 kWh * 24 hours = 93,872,212 kWh per day * 93,872,212 * $0.03 per kWh = $2,816,166 per day in electricity Electricity costs based the low-end of the electricity rates in Washington State, the state with the average lowest electricity costs in the United States: https://www.electricitylocal.com/states/washington/
Costs of daily electricity consumption for T15: * 1,803,649 T15s * 1541 Watts = 2,779,423,109 Watts * 2,779,423,109 Watts / 1000 = 2,779,423 kW * 2,779,424 kW * 24 hours = 66,706,155 kWh * 66,706,155 kWh * $0.03 per kWh = $2,001,185 per day in electricity
Cost of labor and maintenance above electric costs: 10%. This is an estimate based on an interview with two different large-scale miners in Canada and Georgia who chose to remain anonymous.
Average kWh: ((((3,911,342,160 Watts + 2,779,423,109 Watts) / 2) * 24 hours) * 365 days) / 1E12 watt hrs per terawatt hrs = 29.3 TWh
This estimate is short of Denmark’s oft-cited annual energy consumption of 32 TWh, closer to Morocco's consumption of 29 TWh.
Total Costs:
51% attack may require at least 10 days of sustained mining, at a minimum, based on the recent Bitcoin Cash hash wars:
Total cost of S9i attack: $971,814,740 + $30,977,820 = $1,002,792,560 Total cost of T15 attack: $1,808,111,227 + $22,013,740 = $1,830,124,967
Average cost of an attack: ($1,002,792,560 + $1,830,124,967) / 2 = $1,416,458,764
SOURCE: https://cryptoslate.com/analysis-bitcoin-costs-1-4-billion-to-51-attack-consumes-as-much-electricity-as-morocco/
submitted by jaumenuez to Bitcoin [link] [comments]

Roger Ver 2017: "Today approximately 40% of the network hash power is signaling that they wish to begin producing larger blocks." Roger, do you see how today you are the negative of yourself from 1 year ago? That Roger saved Bitcoin, today's Roger is killing it.

Roger Ver 2017: submitted by cryptoanalyticabot to cryptoall [link] [comments]

Roger Ver 2017: "Today approximately 40% of the network hash power is signaling that they wish to begin producing larger blocks." Roger, do you see how today you are the negative of yourself from 1 year ago? That Roger saved Bitcoin, today's Roger is killing it.

Roger Ver 2017: submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

bitcoin(BTC) added hash rate equivalent to 1.5 BCH("bitcoin cash") networks in the last 24 hours.

bitcoin(BTC) added hash rate equivalent to 1.5 BCH( submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Hash Rate Hits All-Time High

According to data retrieved from Blockchain.com, the Bitcoin network hash rate topped 62 quintillion hashes per second last Friday. The term ‘hash rate’ refers to the amount of hashes – a function that converts an input of letters and numbers into an encrypted output of a fixed length – a miner finds, typically on a per-second basis.
Friday’s hash rate marked the highest-ever recorded on the Bitcoin network. The previous highest came almost a year ago on August 27, 2018.

https://www.cryptoglobe.com/latest/2019/06/bitcoin-hash-rate-hits-all-time-high-100-million-in-tether-usdt-minted/
submitted by FastSellerService to BitcoinInfo [link] [comments]

bitcoin(BTC) added hash rate equivalent to 1.5 BCH("bitcoin cash") networks in the last 24 hours.

bitcoin(BTC) added hash rate equivalent to 1.5 BCH( submitted by cryptoanalyticabot to cryptoall [link] [comments]

MaxiMine Forms Strategic Partnership With Jinse Finance as Salon Series Hits Chengdu

MaxiMine Forms Strategic Partnership With Jinse Finance as Salon Series Hits Chengdu

https://preview.redd.it/yc08sl4febz21.png?width=949&format=png&auto=webp&s=df276174e470dd9393f5f4ce45eda99af958ae5f

Distributed cloud-based pool mining platform, MaxiMine, is honoured to announce that it will be joining the incoming Jinse Salon Series as a strategic partner this May. MaxiMine’s CTO and Operations Executive (China), Mr. Yao Kunhua, has been invited to be a guest speaker at this event and will be speaking on the ecosystem of MaxiMine’s mining farm that promises to invigorate the crypto mining scene.
MaxiMine's CTO and Operations Executive (China) Mr Yao Kunhua
Mr. Yao is an early investor of Bitcoin and has always believed in its innate potential. As an expert on blockchain technology and its technical infrastructure, Mr. Yao is well-versed with fintech and has had seven years of experience in the blockchain field. Mr. Yao was also one of the earliest business partners of the mining pool, antpool.com, that was reported to be the largest Bitcoin mining pool in 2018 based on its Bitcoin network hash rate.

Following the successful launch of the Avalon Mining Rig 1st Generation in 2013, Mr. Yao started his own mining farm that has since expanded quickly in both scale and capacity. With multiple branches across the region such as in Inner Mongolia and Sichuan, its unrivalled growth has broadened the scope of its services and strengthened its research and development sector. Presently, the farm claims ownership of over 20 patents with many new proprietary technologies under its belt.
A common saying circulating in the crypto mining circle goes like this: “Success hinges entirely on the riding of the tide.”

To those familiar with the crypto mining industry, a rise in tidal waters is a cause for celebration as it signifies a greater electricity output with lowered utility costs and wider margins of profits.

During the wet season each year, it is a race among miners to scour the land for the lowest cost of electricity to ensure a smooth sailing ride into monetary victory. As the wet season is just right around the corner, what can people expect the outlook for miners to be this year?

The theme of the upcoming salon in Chengdu — Mining: Riding the Wave of the Market into the Future — seeks to address the above question and will delve deeper into the infrastructure and ecosystem behind a successful mining farm. The event is set to begin on 23rd May 2019 at 1 pm and will be graced with the presence of several industry representatives from renowned blockchain corporations.

In addition to MaxiMine CTO, Mr. Yao, who will be speaking at the event, a few other illustrious names in the industry are also been added to the list of guest speakers.

Some of these speakers include BTC.com CTO, Zhuang Zhong, Blockin co-founder and Operations Executive, Zhu Fa, Antpool.com co-founder, Tian Xin, Tomorrow co-founder and Vice President, Weng Ziyao, Head of Chouge Mining, He Kan, Canaan Blockchain Business Unit general manager, Shao Jianliang and F2pool Marketing Executive, Liu Chao.

Participating Brands at Jinse's 28th Salon Series
A panel discussion themed “Pushing Boundaries During the Wet Season and Seeking Where the Future Lies” will also be held, and will be helmed in with invaluable insights and contributions from the distinguished guest speakers.

With such an exciting line-up, one cannot help but stay tuned for more.

About MaxiMine
MaxiMine is a highly efficient and transparent cloud-based pool mining platform. Its headquarters is located in Singapore and has a strong international presence in the industry. Since its launch, MaxiMine has been garnering positive attention for its innovative business model and operational capabilities, paving the way for unfaltering growth ahead.

To find out more about MaxiMine, visit their socials at:
Website: https://maximine.io/ Telegram: https://t.me/maximine Reddit: https://www.reddit.com/maximine/ Twitter: https://twitter.com/maximinecoin Medium: https://medium.com/@maximinecoin Bitcointalk: https://bitcointalk.org/index.php?topic=3247389.0
submitted by maximineadmin to maximine [link] [comments]

Has the Bitcoin Hash Rate Peaked? Comparisons with Oil Show Interesting Findings

Has the Bitcoin Hash Rate Peaked? Comparisons with Oil Show Interesting Findings

https://preview.redd.it/85lpl2md4e221.png?width=690&format=png&auto=webp&s=2d3bab69f0570a96f55d790d25f1b1ab08c0a49b
https://cryptoiq.co/the-bitcoin-mining-hash-rate-has-similarities-to-peak-oil/
The Bitcoin mining hash rate had been exponentially increasing on average since the genesis block in 2009, from MH/s, to GH/s, to TH/s, to PH/s, to EH/s, and it reached an all-time record high of 62 EH/s on 26 August 2018. Since this peak was reached, the Bitcoin mining hash rate gradually plateaued and has now decreased. The chart of Bitcoin mining hash rate actually looks quite similar to a peak oil chart except on a much faster time-scale, as can be seen in the comparison between Bitcoin’s hash rate over the course of 2 years from Blockchain.com and North Sea oil production from an article in The Oil Drum: Europe by Euan Mearns. As explained below, the dynamics between peak oil and peak Bitcoin mining are similar, with the key difference that Bitcoin mining is decentralized and oil is not.

https://preview.redd.it/op5ept1g4e221.png?width=512&format=png&auto=webp&s=2b3b35eb631f31a64ed7beb01f283832bd231e4c

https://preview.redd.it/nfyhlf4h4e221.png?width=678&format=png&auto=webp&s=46a0ca7e11f274c5678f6421b1eebb788eab5197
Geologist M. King Hubbert is the founder of the peak oil theory, which states that there is a point when the maximum extraction rate of petroleum is reached, after which a terminal decline in production ensues. The peak rate of extraction of Bitcoin of course occurred during the period after the genesis block and before the first block halving, when the block reward was at its maximum of 50 Bitcoins. However, this is not the peak rate of mining profitability, since Bitcoin increased in price by orders of magnitude through the year 2017. The peak rate of Bitcoin mining profits undoubtedly was simultaneous with Bitcoin’s all-time record high of USD 20,000 in December 2017.
The reason the peak hash rate did not coincide with the peak rate of Bitcoin mining profits is because the rally happened so quickly that mining operations were not able to add rigs fast enough, so there was a lag effect. Even for mining operations with large amounts of capital it can take months to obtain the amount of mining equipment that they want, and for other mining operations it took even longer because they had to obtain investors, buy land, build infrastructure, and only then could they install the rigs and begin hashing.
The Bitcoin mining hash rate chart implicitly indicates that 30 EH/s of Bitcoin mining equipment has been taken offline due to lack of profitability, which represents tens of billions of USD of wasted rigs. This suggests that Bitcoin miners were caught by surprise by the decline in Bitcoin’s price from USD 20,000 to less than USD 4,000 as of 4 December 2018.
Coming back to the peak oil comparison, the current Bitcoin mining scene is like a rapid version of peak oil, combined with lack of coordination. Oil mining is a centralized and coordinated activity, where the oil is prospected, land is leased out and then an appropriate number of wells are drilled. With oil mining, companies cannot drill as many wells as they want, or drill wells on someone else’s lease, since this is all closely controlled by contractual agreements. Bitcoin mining is decentralized, and no one has a lease or contract to only mine with a certain amount of hash rate. Anyone in the world can run as much Bitcoin mining rigs as they can afford. The effect is that people all around the world are sticking their straws into the Bitcoin mining network all at the same time, and they sucked it dry. Essentially, so many people started up new mining operations at once without coordination, that the Bitcoin mining hash rate went way past its equilibrium, which hurt everyone involved. This is akin to if oil drilling was a decentralized process, and anyone who wanted to drill for oil could drill in the same field. The oil field would be sucked dry really quick, and then most of the drills would be shut down due to lack of profits.
There is hope for Bitcoin miners however. The price of Bitcoin simply has to rally, and all of the disenfranchised miners could restart their rigs, and then it would be back to the races and new rigs could begin being added. However, due to the decentralization of Bitcoin mining, the network hash rate will likely periodically rise past its equilibrium point, leading to catastrophic conditions for miners like we are experiencing today at points in the future. The only thing that could prevent the scenario we are experiencing today is a Bitcoin rally that lasts forever, which is obviously not possible.
James McAvity tweeted that Bitcoin mining is still profitable in the current environment, and does some simple linear calculations to prove this point. He also argues that miners are forced to keep mining due to business agreements, choose to HODL in expectation of a rally, and continue mining in expectation of a downward difficulty adjustment as other miners go offline.
https://twitter.com/jamesmcavity/status/1069669073552736256
Some of what McAvity says is true, but the reality is that Bitcoin mining is a highly non-linear system, and calculating the support level for mining is somewhat pointless, since it is different for every miner. Bitcoin mining profitability depends on Bitcoin’s price, the Bitcoin network hash rate which is directly correlated to mining difficulty, and the technological efficiency of Bitcoin mining rigs. These 3 factors are related in a non-linear and ever-changing way.
Instead of trudging away at trying to develop a set of equations that determine mining hash rate behavior, one could simply look at the Bitcoin mining hash rate chart at the beginning of this article to understand what is going on. Bitcoin mining profitability is different for each individual miner, and the hash rate has trended downwards as individual miners have made the decision to shut down rigs. Clearly there was a fundamental mining profitability support level in the USD 6,000-7,000 range, since that is where Bitcoin’s price was when mining peaked and plateaued. There are clearly numerous miners who became unprofitable on the descent from that level to less than USD 4,000 today, and now approximately 50% of the Bitcoin mining equipment that exists cannot profitably mine. The decrease in Bitcoin’s mining difficulty of 15% on 3 December 2018 could help bring some of those miners back online, at least if the price stays at current levels around USD 4,000, but this will not change the overall trend.
When it comes down to it, Bitcoin’s price is in control of Bitcoin mining profitability, and if the price goes up we could see a reversal of the hash rate downtrend and eventually a 2nd peak in Bitcoin’s network hash rate. However, if price continues to go down, the Bitcoin mining hash rate chart will follow a similar pattern to peak oil charts. The reality will likely be a combination of both. Bitcoin bear markets tend to last years, and get more severe, but eventually the rally comes and then Bitcoin exceeds its all-time record high. This would lead to a steady decrease in Bitcoin’s mining hash rate like the peak oil chart, followed by a rapid re-engagement of old mining rigs that have been taken offline, and then the addition of new generation Bitcoin mining rigs once the equilibrium hash rate exceeds 60 EH/s.
submitted by turtlecane to Bitcoin [link] [comments]

SUQA - Profitability of mining, Investment potential, Roadmap 2.0

SUQA - Profitability of mining, Investment potential, Roadmap 2.0
https://preview.redd.it/n1lxwyl3bx421.png?width=947&format=png&auto=webp&s=fb345eb3716e74cf8398798147bcca52c869cbac

Hello, guys!
Today I want to talk about a serious topic - the profitability of mining because of the long bear market. It is no secret that today all cryptocurrencies that include PoS, PoW and masternodes are experiencing serious problems. Many users do not understand what is happening in the cryptocurrency mining market now, as prices have dropped very much and people have practically abandoned mining. By the way, recently watched a video on twitter about how chinese throw away ASIC miners to the dump.

https://preview.redd.it/4ejh3ek98x421.png?width=785&format=png&auto=webp&s=b0168fd87d14f9d05a955048683f13d2feb336bc
Bitcoin Network Hash Rate Down 25 Percent from Peak
Of course, the situation is really sad, but do not despair, because recently there was a new coin on the GPU and CPU mining market called SUQA. The developers of this coin were able to launch a new POW mining algorithm called X22i, which revives the profitability of mining for many users. I was immediately interested in this algorithm.
X22i is an unique PoW algorithm developed by the SUQA team. It is worth noting that at the moment X22i is the most energy efficient of all the algorithms on the market, as it works steeper and does not consume a lot of energy. The algorithm has super stability to ASIC miners and quantum computers.By the way, guys, CPU mining is very easy and available from the desktop wallet. GPU mining is available from open source GPU miners just by adding the server and wallet address.The best hashing miner software for 1080ti is Cryptodredge because it's currently fastest miner for x22i. Here download links https://github.com/technobyl/CryptoDredge/releases/tag/v0.11.0
What makes SUQA special?
It's no secret that today there are many cryptocurrencies, some of which are pacifiers. Undoubtedly this is a sad statistics. SUQA developers plan to become a leader in the cryptocurrency market by creating a decentralized ecosystem for various charitable organizations and blockchain startups.
Developers reward miners with SUQA tokens for the speedy implementation of their plans. They take a 10% сommission that will be used to fund developers and their various purposes, such as marketing companies, exchanges listing, website development, legal fees and bounties campaigns.
SUQA coin has a high transaction speed - 533 per second. This is 75 times higher than bitcoin! Today, this fact is a serious advantage over the main competitors.I am sure that this is not the limit of possible speed for developers and it will be even more in the future. There are practically no transaction fees in the SUQA ecosystem. It's really great, guys!
It is important to note that SUQA Foundation is only 2 months old, but it already has a large multilingual community in social networks. The project has an open team for all users that unites them from all over the world. SUQA is a global ecosystem that attracts not only experienced miners, but also more newcomers.

https://preview.redd.it/yuo77n7j8x421.png?width=777&format=png&auto=webp&s=61aa0c754041de27fd2080cf2420f67026ac8cc9

Investment potential.
Now the market situation makes us look for new options for investment. There are very few really promising projects on the market that have so many prominent features, one of which is time locked interest. It provides all users with a guaranteed opportunity to earn from their term deposits up to 5% per annum when time locked up to 4 weeks. But there's more! The developers provide an opportunity for early investors to receive an interest rate of 25% during the first 3 months! Looks attractive, doesn't it?I am sure that you should not worry about your deposit, because the developers of SUQA already have serious partnership agreements with a very fast, secure, private and automated deposit escrow service. The SUQA wallet also has a time-lock interest that can be used for all business or private transactions.
In short, the developers of the project have all the prerequisites to become one of the leaders in the mining market, so SUQA is an ideal project for investment. Going forward, I have no doubt that SUQA Team will continue to follow through on roadmap plans as they have done so far.
Roadmap 2.0
Btw, the devs introduced new and updated version of SUQA roadmap 2.0. The changes they’ve implemented will ensure that SUQA will run smoothly and will have increased use cases and benefits to the community and the ecosystem as a whole.

https://preview.redd.it/fmghlbjiax421.jpg?width=533&format=pjpg&auto=webp&s=f22b7839a1dcbedb70abdf941401fe3fcbea22a8

SUQA White Paper Version 2 will be released on the hard fork date with the latest implementations.

I think It's time to buy more SUQA coins! xD
More info
To learn more about all the latest information about SUQA, you can join the discord channel or telegram channel
Website / ANN thread
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Author - artur2403 / Uniqueness - 100%
submitted by artkld39 to CryptoMangust [link] [comments]

What You Need to Know About Bitcoin Hashrate Blockchain/Bitcoin for beginners 2: Hashing, blockchain networks, blockchain browser HOW TO MINE 1 BITCOIN EVERYDAY IN 2020-2021  NITROHASH ... SKY HASH How to earn 1 bitcoin for 1,5 month? Following Bitcoin’s Hash Rate Network Difficulty Is About to Set a New

Hashrate (Hash per second, h/s) is an SI-derived unit representing the number of double SHA-256 computations performed in one second in the bitcoin network for cryptocurrency mining. Hashrate is also called as hashing power. It is usually symbolized as h/s (with an appropriate SI prefix). Bitcoin Network: #1 educational website worldwide, established 2010. Explore our complimentary and comprehensive guide to Bitcoin Network, Bitcoin, and BTC. BitcoinNetwork.com. what is the bitcoin network; watch the top 100 bitcoin videos ; learn more about bitcoin; collaborate with us; thank you satoshi; Bitcoin Network Your comprehensive resource to Bitcoin. On October 31, 2008 a nine page ... hashes per bitcoin = (network hash rate) / (25 BTC per 10 minutes) = (180 * Th / s) / (25 * BTC / (600 * s) ) = 180 * 600 / 25 * Th / s / BTC * s = 2,700 Th / BTC = 2,700,000,000,000,000 h/BTC share improve this answer follow answered Jul 7 '13 at 9:41. Anonymous Anonymous. 166 2 2 bronze badges. What does the 180 stand for? – powtac Jul 7 '13 at 9:58. That is read from the charts I ... 1 TH/s sind 1.000.000.000.000.000.000 Hashes pro Sekunde u.s.w. Im Bitcoin-Netzwerk liegt die durchschnittliche Hash Rate bei 9,9 TH/s und sie wächst mit jedem neuen Miner, der sich dem Netzwerk anschließt, weiter an. Während des Mining-Vorgangs wird durch eine Reihe mathematischer Operationen versucht, den kryptischen Header eines Blockes zu entschlüsseln. Bitcoin Average hashrate (hash/s) per day Chart. Transactions Block Size Sent from addresses Difficulty Hashrate Price in USD Mining Profitability Sent in USD Avg. Transaction Fee Median Transaction Fee Block Time Market Capitalization Avg. Transaction Value Median Transaction Value Tweets GTrends Active Addresses Top100ToTotal Fee in Reward

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What You Need to Know About Bitcoin Hashrate

Episode two of my series on Blockchain/Bitcoin. I build on the physical analogy in the first episode and explain the basic concepts behind a real blockchain network. Then go on to talk about ... For context, that’s double what the hash rate was at one year ago and 1,000% higher than the hash rate at Bitcoin’s $20,000 high. Bitcoin’s network difficulty, which regulates how fast ... SCAM ! SCAM ! SCAM ! SCAM ! —producing most profitable cryptocurrency —instant order processing —daily payments —ROI 4-5 months —realtime earnings and statistics buy bitcoin price of ... Analysts at Glassnode reported that Bitcoins hash rate has surged to a new record high. Meanwhile, the price of Bitcoin (BTC) again came close to support at ... Support the Channel via BTC Lightning Network: https ... Bitcoin Cash(BCH) hash rate drops 90% after halving. Time to abandon ship? - Duration: 5:52. Cryptocurrency News 2,944 views. 5:52. How to ...

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