Kazakhstan internet shutdown sheds light on a big Bitcoin mining mystery (fortune.com) 28 points by joshbuddy 4y ago ↗ HN
[–] simmerup 4y ago ↗ So bitcoin isn’t ran on sunshine and rivers and volcanoes like so many would like you to believe. It’s ran on dirty coal and causes blackouts.What a waste of energy
[–] spiorf 4y ago ↗ A change of 12% over 24 hours is well within the fluctuation caused by the probabilistic nature of mining.Looking at the charts I can't see any clear drop: https://www.coinwarz.com/mining/bitcoin/hashrate-chartExtrapolating that bitcoin mining escaping from china is the cause of the protests seems a little too far-fetched. [–] BoiledCabbage 4y ago ↗ It's funny you say that, because after adjusting for timezones, the two prior largest drops on that chart you shared are:Dec 25th - Christmas (obs .worldwide) Dec 16th - Kazakhstan Independence DayMaybe not a robust analysis, but sure seems like events in Kazakhstan can have an impact on global hash rates. [–] spiorf 4y ago ↗ Zoom out. Drops of that magnitude are frequent. And why christmas should make it drop, while on the 1 jan was at all-time-high? Should holidays make it drop or grow?The drop in may-july 2021 is significant.
[–] BoiledCabbage 4y ago ↗ It's funny you say that, because after adjusting for timezones, the two prior largest drops on that chart you shared are:Dec 25th - Christmas (obs .worldwide) Dec 16th - Kazakhstan Independence DayMaybe not a robust analysis, but sure seems like events in Kazakhstan can have an impact on global hash rates. [–] spiorf 4y ago ↗ Zoom out. Drops of that magnitude are frequent. And why christmas should make it drop, while on the 1 jan was at all-time-high? Should holidays make it drop or grow?The drop in may-july 2021 is significant.
[–] spiorf 4y ago ↗ Zoom out. Drops of that magnitude are frequent. And why christmas should make it drop, while on the 1 jan was at all-time-high? Should holidays make it drop or grow?The drop in may-july 2021 is significant.
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[ 3.7 ms ] story [ 33.5 ms ] threadWhat a waste of energy
Looking at the charts I can't see any clear drop: https://www.coinwarz.com/mining/bitcoin/hashrate-chart
Extrapolating that bitcoin mining escaping from china is the cause of the protests seems a little too far-fetched.
Dec 25th - Christmas (obs .worldwide) Dec 16th - Kazakhstan Independence Day
Maybe not a robust analysis, but sure seems like events in Kazakhstan can have an impact on global hash rates.
The drop in may-july 2021 is significant.