Hash rate takes a hit

So, the global hash rate has dropped from 190 EH on May 9, 2021, down to 124 EH as of today, May 19, 2021. Looks like a bunch of power-hungry miners have turned off their rigs. source: https://www.blockchain.com/charts/hash-rate my old account Lowbander80 was legendary I've been mining since 2013 1JgddX4AWtLxn9G3hMFzR99CVcZk2U66mQ

I quote you to help secure this account. Yeah looks like the s9 is getting dumped. It earns about 3 dollars a day and burns 30 kwatts so it needs cheap power.

Looks link BTC price has dropped enough to make people / farms with higher power costs and less efficient miners shut down. Also it's been warmer here in the US and other locations in North America so places that could deal with marginal cooling might have also dropped off a bit. Add that with some normal variance and some Musk fanboys and girls who switched off their miners because they were not green and you have your drop. Not going to worry about it. Mine on. -Dave

Yes I totally agree with you. I reckon that the global hashrate will increase in the early september

It's called random variance. There is a drop, but it isn't to 124eh That site does not understand statistics, which is mandatory for anyone trying to estimate the global Bitcoin hashrate. As is typical of many sites who really don't know what they are doing, there is no error range shown on their graph, which since it's daily, that error range will be high. Firstly, as explained here, https://bitcointalk.org/index.php?topic=5307087.msg56342703#msg56342703 if you use 250 blocks to estimate the Bitcoin network hash rate, you have a 42.9% chance of being more than 5% wrong. With only a smaller sample of 1 day (expected 144 blocks) it a higher chance of being more than 5% wrong. Also, I can't find 124eh anywhere recently on that graph.

Yeah, power hungry ASIC farms are prob having to cut down a bit to save off power costs, plus with China announcing their crypto warning I'm sure that really put a massive dent in the hash rate.

Clearly the post of a noob who has no idea what is going on ...

in this graph on the lowerside has option 30days 60days etc. Check the 30days also in the right side has option raw value-7 day average-30 day average : check the raw values. there you will see the drop of 124eh. am not defending that site just mentioning the drop. also today saw in the news problems with the Sichuan distict with power. so the breaking news that china bans bitcoin for the 99th time this year is a fact   my stolen account Lowbander80 was Legentary Mining since 2013 1JgddX4AWtLxn9G3hMFzR99CVcZk2U66mQ

So the hashrate is directly dependent on current Bitcoin value? My RTX 3080s are currently doing 6-7 USD per day even though they are mining at around 92 MH/s.

If people stop mining when the BTC value falls yes, you could say that they are linked for sure. I guess that you use Nicehash with your RTX ? You mine ETH and you are paid in BTC if I'm not wrong ?

Since u r discussing hashrate price and it's correlation with Bitcoin price, can u comment on what Justin Drake discusses in mins 29-32 about the security of Bitcoin? https://t.co/Ee6B94w9XW?amp=1 I see u r talking about different hashrate prices than what he estimated?

Hello, I am mining in BTC and then transfer them to Binance (when enough has accumulated) for withdrawal in USD.

I guess the correct term is that you are mining something else other than bitcoin as bitcoin cant any more be mined with graphics cards. so because I also mine ethereum the prices are displayed also in BTC when you get paid you get paid in ETH not BTC but since BTC is the dominant crypto its displayed in this pluse the USD is dominant outside of EU this is why its also displayed in USD. my stolen account lowbander80 was legentary mining since 2013 1JgddX4AWtLxn9G3hMFzR99CVcZk2U66mQ

Oh yeah, sorry I didn't calculate it earlier, so Justin Drake rough estimate is not very far from the truth. Considering 92~100 then it costs ~ 60-70 $ for 10⁹ (which he estimated 50$) -Now next is really total Bitcoin current market volume is about 1 trillion USD???

really dont undertand what current market means is it the bitcoins that are in currency exchange platforms?? the rough figures is that now are mined nearly 16,000,000 btc with 40,000 usd each = 640.000.000.000 usd aprox. so even Elon cant manipulate BTC he can only accuse btc mining for being not eco friendly when his cars move with electricity and nearly 95 % of electricity is made from hydrocarbons.. my stolen account lowbander80 was legentary mining since 2013 1JgddX4AWtLxn9G3hMFzR99CVcZk2U66mQ

So, again he is almost right. 1 trillion=10⁹ so it's less with 40,000$ value, almost exact if his talk was recorded in the 60,000$ value. He says it a 10 billion $ to break Bitcoin which is in the power of any state nation like China or even USA.

Recently China has announced a Crackdown on crypto mining firms. Due to these temporary reasons and Due to fake Twitter influence, the price of Bitcoin has been fallen. On the other hand, most of the American miners are temporarily dormant as Bitcoin prices fall. Considering the cost of electricity in the USA, crypto mining is not profitable at all now. . That's why the total hash rate has suddenly decreased. Already China mining companies have decided to shift their mining firms to Central Asian countries. Maybe soon this situation will become normal.

a s17pro does 53th which is 53 x .23 = 12.19 it burns 2000 watts  or 50 k-watts a day that is 5 bucks at 10 cent power so 12.19-5 = 7.19 profit so everyone at 10cent power that is allowed to mine an s19 or any newer gear is mining it. what is happening is the following an s9 earns 13 x .23 = 3 a day it burns  35 kwatts or 3.50 at 10 cents so it is turned off and the second part is more important Bitmain is not providing psu's for s15 s17 S17+ s17e t15 t17 t17+ t17e s19 t19 https://shop.bitmain.com/product/parts and the psu's die making the gear turn off leaving bitmain hashing along with its cloud gear.

After paying all power costs they will get approx ~7 per day, though it is not profitable as the previous days but it's not bad for Individual miners or traders. If you thinking about large commercial miners they have to bear some additional cost to maintain/operate their firms. For BTC mining electricity costs are in the range in North American countries but much higher in Central America and South America. I don't know why the world is still relying upon Bitmain for PSU, If you know the Output Voltage and the accurate polarity then you can build your own custom PSU easily, What is the special about their PSU!

bitmain innosilcon cannon microbit  have bespoke psus' on all the newer gear say 2018 or 2019 on. you must match the correct psu to the correct gear or it will not work. the work around is not simple.  you need to talk to the psu from the controller. Now aftermarket firmware could possibly fix that issue but the psi's won't even fit into the miners, try to take this psu https://whatsminer.net/product/p21-psu/ get it to fit with this miner https://shop.bitmain.com/product/detail?pid=00020210224195530399kqcF32sc06B9 it physically does not fit btw note the microbit psu is not in stock the bitmain psus are not in stock https://shop.bitmain.com/product/parts the cannon psu are not in stock and the innosilicon psu are not in stock https://innosilicon.com/html/product/parts/index.html the four major builders are simply cloud mining while the coin price is high and shutting the rest of us out as our (sp) gear breaks down. why is that : simple they can not get lots of chips to sell lots of gear so while mining is still doing great they mine on and fuck the rest of us.