I am curious about the large fluctuations in the total network hashrate. I mean 20,000 GH/s is the size of Slush's entire pool, how does that much compute power come and go so quickly? Its like someone with 40 BFL Mini Rigs is dropping in and out of the network.
Network hashrate is calculated from the count of blocks found, there's no other way to determine it. But block frequency varies according to the luck. As we can't determine current luck, we have to take it into account always being 100 %. Sure this is not true, and so we are observing variations in network hashrate that don't exist in fact.
Certainly I don't want to say there aren't any variations. They are. But I can't tell how big they really are. Can someone go further and calculate the probable contribution of this effect to the total variation?
Miners' workers can tell their hashrate exactly.
The pools calculate their hashrates from shares of difficulty 1 or more. With ASICs comming, there'll be more of "more", and the accuracy will go down. Well only absolutely, maybe, and the relative accuracy can be maintained, as the hashrate increases also.
The whole network has no means to determine its total hashrate other than from the blocks found, as stated above. [edit:] With increasing difficulty, variations will increase and the accuracy will continue going down.
Thanks for the "Oh yeah.... DUH" moment, gourmet. Haha!
That makes sense, I guess I thought the network as a whole was aware of every share submitted by miners regardless if they are solo or pool.
Learn something new every day. I guess I need to read whitepaper from satoshi again... and pay more attention this time.
Happy Friday to everyone, btw. And a shout out to all the Chicago Blackhawk fans on here (if any)! Lord Stanley's Cup has returned to its rightful place!