About hash power!!

[Dorjoy12 8962]

Today i am going to make a topic about hash power of mining... If you read my previous topic about block then this topic will be easy for you all to understand..       

Usually  to do mining we need lot of equipment .. Also  needed high power electricity .. Suppose  i want to do bitcoin mining..   For this i need CPU, GPU and ASIC..  All this have different  power..  Such GPU power is more than CPU and ASIC power  is more than GPU.. Now imagine  i take some equipment  and electricity  while start mining..  Again you all know that only me dont doing mining but million  minor also doing mining..  But only me start mining with some equipment .. But big company start mining also by waste more money than  me..  So its basically  those big company  equipment  is more strong than  mine.. And this mining machines  power called  hashing power... 

Now subject  is those who have more hashing power can create more blocks.. 
But now i am waste my electricity  to do mining while get no Opportunity  to do mining then will i keep  like this??  
Now suppose  i get more ten minors who has low quality  equipment  like i have..  For this reason we ten minors  take decision  to mining together .. And we made a mining poll then.. Also we keep the opportunity  to join other minor like us so that we  10 or 20 minors can bulid a strong hash  power.. For this reason we will get the chance to create  blocks .. 
We all ofcourse  know about poolin, Antpool, btc..com, F2pool and so on.. If you dont know just  look into this picture  

 

Here you can see different  kind of mining pool with Which  pool has how much mining hash..  You can see that BTC..com  has 23.5% hash power and Antpool has 12.9% hash power .. .. Now imagine  new transaction  comes and every  minors start to mining but those minors has strong hash power can do blocks  earlier ..  From the mining pool pic we can see that BTC..com has 23.3% mining hash power then unknown  hash power 13.9% and F2pool 13.1% hash power...  So that BTC..com  can make the block first..   

 

Hope you understand  all what is hash power and how it works...

[Raqeebzy 6456]

Good topic and a nice pie chart to follow.

I really don't know the source of the presented chart but having an unknown as the largest mining company is weird. Antpool/Bitmain is still considered the largest mining pool in the world - I might be wrong or outdated, educate me.

And seeing the above pools, I think we seriously need more decentralisation as far as mining is concerned. One thing wrong with China and we might be doomed.

[Maaz sultan 265]

Mining crypto currency need high energy to mine crypto currencies but we knows that its profitable and one time investment and then only mining machines work for us to mine any of crypto currency these like robots who mine but it need cool environment and a free room .

[Dorjoy12 8962]

On 11/14/2020 at 1:41 AM, Raqeebzy said:

I really don't know the source of the presented chart but having an unknown as the largest mining company is weird.

@Raqeebzy this is just a picture of mining participants pool from different country or organisations.. By the way, do you know what is 51% attack in crypto world??  Actually 51% attack made by those unknown pool and they locked up all the transaction for a moments..  Soon i will create a topic about 51% attack where you will be able to know how this unknown pool occurred..               

[Raqeebzy 6456]

1 hour ago, Dorjoy12 said:

@Raqeebzy this is just a picture of mining participants pool from different country or organisations.. By the way, do you know what is 51% attack in crypto world??  Actually 51% attack made by those unknown pool and they locked up all the transaction for a moments..  Soon i will create a topic about 51% attack where you will be able to know how this unknown pool occurred..               

Not exactly, what I am more concerned about is the so much concentration of mining activities in the country. It is not good for BTC in my opinion.

51% attack means a situation where a group of miners controls more than 50% of the total BTC (or other cryptocurrency as the case may be) blockchain network hash rate. If you look, China might launch this attack.

[duncun007 3577]

18 hours ago, Maaz sultan said:

Mining crypto currency need high energy to mine crypto currencies but we knows that its profitable and one time investment and then only mining machines work for us to mine any of crypto currency these like robots who mine but it need cool environment and a free room .

those miners used to cost a lot less than what they cost now, but also the price of bitcoin was around 1200$ when i was interested in mining, but also the country i live in have lower electricity prices so that comes for my advantage.

[Ridam 7455]

Mining difficult of Bitcoin has increased significantly, and for mining a single Btc , 2.7 Quadrillion hashes are required so for solo miner these days it's impossible to earn from btc mining.

If we compare in mining perspective then yes Asic miners are more powerful than GPU. But in overall performance, GPU are very powerful these days with 2nd gen Ray tracing, 3rd Gen Tensor cores. 

3 hours ago, Dorjoy12 said:

@Raqeebzy    Soon i will create a topic about 51% attack where you will be able to know how this unknown pool occurred..               

There is detailed information about 51% attack by our hero member @Whited35, I think you have missed it @Dorjoy12. Please check it out Here.

Edited November 15, 2020 by Ridam
I write 52% instead of 51%. But corrected it

[Whited35 15285]

1 hour ago, Ridam said:

There is detailed information about 52% attack by our hero member @Whited35, I think you have missed it @Dorjoy12. Please check it out Here.

@Ridam Thanks for showing direction to the topic but actually it is 51% not 52%😜 . Maybe, guy has forgotten to check that topic so you have alerted so nicely to avoid post duplication 😉 51% attack is the most discussed attack to the blockchain as the attackers can control more than 50% of computing power.

[Ridam 7455]

8 minutes ago, Whited35 said:

@Ridam Thanks for showing direction to the topic but actually it is 51% not 52%😜 . Maybe, guy has forgotten to check that topic so you have alerted so nicely to avoid post duplication 😉 51% attack is the most discussed attack to the blockchain as the attackers can control more than 50% of computing power.

@Whited35 That was typing mistake 🤣. I didn't double check sorry for that and I corrected it😊. Yes it seems @Dorjoy12 have missed that great topic about the Blockchain hacks and I believe he will visit and grab full explained details about 51% attack.

 

[Dorjoy12 8962]

36 minutes ago, Ridam said:

@Whited35 That was typing mistake 🤣. I didn't double check sorry for that and I corrected it😊. Yes it seems @Dorjoy12 have missed that great topic about the Blockchain hacks and I believe he will visit and grab full explained details about 51% attack.

 

@Ridam yah man i have missed the topic about 51% attack that @Whited35 created already.. Though i follow him every time but i dont know how i get missed his useful topic every time😆..  By the way its pretty good to remind me about it or i will face my waste time by write that topic 😆😆           

[magd 5231]

The fragmentation power in mining is made up of several factors that affect the speed of the process, but I noticed that the graphics card is the biggest influence in this area, especially the type Nvidia that needs more electrical energy, but better mining speed

[Whited35 15285]

20 minutes ago, Dorjoy12 said:

@Ridam yah man i have missed the topic about 51% attack that @Whited35 created already.. Though i follow him every time but i dont know how i get missed his useful topic every time😆..  By the way its pretty good to remind me about it or i will face my waste time by write that topic 😆😆           

@Dorjoy12 Enable notification to get updated. Whenever I create the new topic, you will get notified. Duplicate posts will be removed by the moderators so guys be aware before spending much time to create the same topic again, search unique issues to create the posts. 

[Ridam 7455]

10 hours ago, Dorjoy12 said:

@Ridam yah man i have missed the topic about 51% attack that @Whited35 created already.. Though i follow him every time but i dont know how i get missed his useful topic every time😆..  By the way its pretty good to remind me about it or i will face my waste time by write that topic 😆😆           

Well Continue to create topic you can choose other topics than 51% attack. You are doing great.

 

On 11/15/2020 at 1:36 AM, Maaz sultan said:

Mining crypto currency need high energy to mine crypto currencies but we knows that its profitable and one time investment and then only mining machines work for us to mine any of crypto currency these like robots who mine but it need cool environment and a free room .

@Maaz sultan No mining isn't completely passive earning. You need Proper maintenance of the mining equipment. Cooling is huge task while mining in a rig and It needs money and never forget about the electricity cost. If we see GPU 3090, it's 390 Watt.

Edited November 16, 2020 by Ridam
Typing mistake, corrected

[Dorjoy12 8962]

13 hours ago, Whited35 said:

@Dorjoy12 Enable notification to get updated. Whenever I create the new topic, you will get notified. Duplicate posts will be removed by the moderators so guys be aware before spending much time to create the same topic again, search unique issues to create the posts. 

Nice idea about enable notification but its look some how boring   because every time whenever you and another member will create a topic i get the update in my email address.. 

 

4 hours ago, Ridam said:

Continue to create topic you can choose other topics than 51% attack. You are doing great

Yah why not. Because writings a topic about crypto world help me lot to know about     new thing..  Also i can remember my old knowledge about the topic clearly..           

[Whited35 15285]

2 hours ago, Dorjoy12 said:

Nice idea about enable notification but its look some how boring   because every time whenever you and another member will create a topic i get the update in my email address.. 

In that case, you might update notification preferences accordingly. If you do not wish to get notification , you might manually keep visiting targeted members for their new posts or topics. It can still help in your cases. Thanks. 

[glory50 1259]

I will nver try mining pools again , the last time I did so , I did not get my money back it was really painful for me and the truth is the toughest thing that has to happen to me work with it , there is a lot of work to be done then there is a lot of ideas to which we need to follow, the money I invested, at the blink of getting it back, I was told there are service fees for it

[Masterrex 559]

11 hours ago, Ridam said:

Well Continue to create topic you can choose other topics than 51% attack. You are doing great.

 

@Maaz sultan No mining isn't completely passive earning. You need Proper maintenance of the mining equipment. Cooling is huge task while mining in a rig and It needs money and never forget about the electricity cost. If we see GPU 3090, it's 390 Watt.

You hit it right mate, In mining there was also ups and down, because it has many inputs and while the difficulty is increasing your profitability also is decreasing, many factors can affect the mining profitability, the most common problem is price volatility of the coin you mine, particularly Bitcoin during 2018 the Bitcoin price was dip so much that many mining operations were halted because its not profitable anymore. 

[annayks 2314]

On 11/13/2020 at 9:41 PM, Raqeebzy said:

Good topic and a nice pie chart to follow.

I really don't know the source of the presented chart but having an unknown as the largest mining company is weird. Antpool/Bitmain is still considered the largest mining pool in the world - I might be wrong or outdated, educate me.

Hi @Raqeebzy. Bitmain operates these two pools BTC.com and Antpool. Bitmain used to have close to 50% of the total hash rate of Bitcoin but this changed starting from previous year. 

The uknown miners rise is something that was happening in the past too. It is not one pool but it is all the rest miners that hide their pool or can be solo miners. But they are not untraceable miners. Most just don't declare who they are. There are a few probably that use Tor and are completely anonymous and maybe included in this category of uknown miners but they will make a very smaller percentage of the uknown miners.

[Mwangi 5611]

Am sorry bro I think I have also been in the same predicament because I lost my investment to a company that was selling harsh power, the company took everything when they told me that all my money had gone to repair the mining machines and that destroyed me instantly , so to me @glory50 its true am never trying mining with this companies

[Raqeebzy 6456]

1 hour ago, annayks said:

Hi @Raqeebzy. Bitmain operates these two pools BTC.com and Antpool. Bitmain used to have close to 50% of the total hash rate of Bitcoin but this changed starting from previous year. 

The uknown miners rise is something that was happening in the past too. It is not one pool but it is all the rest miners that hide their pool or can be solo miners. But they are not untraceable miners. Most just don't declare who they are. There are a few probably that use Tor and are completely anonymous and maybe included in this category of uknown miners but they will make a very smaller percentage of the uknown miners.

Wow. A +5 from me to you. You provided just an excellent answer to my curiousity.

Now, this means Bitmain still possess the highest percentage of BTC hash rate. Unknown miners might just be some pool that can't be accounted for (probably anonymous) all summed up together as 13%+ of total BTC hash rate.

Thanks.

[Oxygen99 1930]

This is a very good interesting topic I have to confess especially the chart and for this reason i think we need decentralization as long as mining is concerned and China dominating most part of the mining is not too safe which is why i am hoping we have many countries to rival China so that there will be more popularity around the world.

[Dorjoy12 8962]

On 11/16/2020 at 10:13 PM, Raqeebzy said:

Unknown miners might just be some pool that can't be accounted for (probably anonymous) all summed up together as 13%+ of total BTC hash rate

@Raqeebzy i feel like  unknown pool owner is those minors who mining separately at past and didnt get any benefit so those kind of minors become together and create a unique pool Which is known to us unknown pool..  By the way,  i will take enough research about this matter and update news about it..                  

[Raqeebzy 6456]

10 minutes ago, Dorjoy12 said:

@Raqeebzy i feel like  unknown pool owner is those minors who mining separately at past and didnt get any benefit so those kind of minors become together and create a unique pool Which is known to us unknown pool..  By the way,  i will take enough research about this matter and update news about it..                  

Miners who mine incognito, some who mine with very small mining farm and low percentage total hash rate and devices with low GPU and CPU are summed up together to account for the unknown. I think it is so, that is the best collective name they can be given.

[Dorjoy12 8962]

18 hours ago, Raqeebzy said:

I think it is so, that is the best collective name they can be given.

From a research i come to know that those unknown mining pool is created by small number of minor from different site who keep their privacy in Secure place every time..  So i think this unknown pool rate always up and down as it not like a mining company..         

[Raqeebzy 6456]

1 hour ago, Dorjoy12 said:

From a research i come to know that those unknown mining pool is created by small number of minor from different site who keep their privacy in Secure place every time..  So i think this unknown pool rate always up and down as it not like a mining company..         

Definitely it will.

Not only will the unknown miners' percentage change, the others are susceptible to changes as well from time to time. Hash rate in different farms increases and some reduces. Keep track on records to see yourself.