Hunting the Real Bitcoin Network Hashrate \ stacker news ~bitcoin

Hunting the Real Bitcoin Network Hashrate blog.lopp.net/hunting-the-real-bitcoin-network-hashrate/

1959 sats \ 4 comments \ @k00b 1 Oct 2023 bitcoin

442 sats \ 0 replies \ @WeAreAllSatoshi 1 Oct 2023

Interestingly, I see pretty wide discrepancies between what my pool reports I’m hashing, and what my machine itself reports. The average usually works out to be about the same, but it’s certainly odd to see the spikes on the pool side, while locally it’s much more consistent

21 sats \ 1 reply \ @fedelang 2 Oct 2023

I concluded my earlier essay with an area of potential future research: comparing realtime hashrate reported by mining pools against the hashrate estimates derived solely from trailing blockchain data.

There is no pool realtime hashrate metric unless you are miner and you know the exact hashrate at any given moment reported by ur machines. Pools in fact don't know the realtime hashrate they barely estimate it based on shares.

0 sats \ 0 replies \ @WeAreAllSatoshi 2 Oct 2023

This might explain my observations here #271807

0 sats \ 0 replies \ @k00b OP 1 Oct 2023

I had always assumed hash rate predictions were already very good, but I also hadn't depended on them directly so I had no reason to question them.

It's possible that large scale miners could be interested in an improved hashrate estimate for their own planning purposes

They'd be able to predict their bitcoin profit more accurately, but have we gotten to this stage yet? I'd guess the price of bitcoin is more volatile than hashrate and that price ends up playing a bigger role in ROI estimates.

Also: TIL lopp writes scripts in PHP like a dgaf chad