Bitcoin network hashrate is surging 20%+ by pfunk

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crypto-news · @pfunk · May 23 '16 (edited)

$36.11

Bitcoin network hashrate is surging 20%+

[![Bitcoin difficulty](https://i.imgsafe.org/69e7343.png)](https://i.imgsafe.org/69e7343.png)

The Bitcoin network's estimated hashrate has gone through the roof the last few days. Looks like a big batch of next gen 16nm ASICs has come online. Guess we get slightly quicker transaction confirmations until the difficulty adjusts itself.

https://bitcoinwisdom.com/bitcoin/difficulty

#cryptocurrency #bitcoin #mining

👍 dantheman, boatymcboatface, pfunk, clains, pfunk10, mich-richardson, teatree, murch, proggr, avarice, limitless, kylonius, walkingmage, animus, chappers, alex.chien, murh, nanzo-scoop, bingo-1, mrs.agsexplorer, barrie
👎 hater

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@dantheman · May 23 '16

This is a good sign for the halving, these miners should still be profitable even at half the reward.  They may just take over the network though.

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@himalayanguru · May 26 '16

Are their other practical uses for ASIC other than just mining. It's such a waste of resources. I'm waiting for the Zero Knowledge proof algorithms to start becoming mainstream

👍 himalayanguru

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@pfunk · May 26 '16

It makes sense to mine during Winter if for some reason your only option for heat is electric. Might as well have your heaters be bits of silicon doing proof-of-work for Bitcoin.

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@proggr · May 23 '16

No man should have all that powah...

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@teatree · May 25 '16

Does this mean the halving will happen earlier than expected?

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