2-4 hours to solve a BTC block CEX:IO??

tspacepilot

legendary

Activity: 1456

Merit: 1081

I may write code in exchange for bitcoins.

Quote from: lphelps on April 28, 2014, 11:05:07 AM

I'm starting to believe that BitCoin is going to be shitcanned for something better and with a larger supply. 21 million coins is a fucking joke if you plan on getting it widely accepted by several hundred million people or even over a billion. It would have to increase in value to where each BTC was worth tens of thousands of dollars..

Well ok, but I think it's important to remember that we have 21million bitcoins but 2100000000000000 Satoshis. To my mind, I don't see the problem if the Satoshi ends up valued at something near to a US cent. Perhaps you should think more about all the satoshis you just mined rather than counting in bitcoins.

JamesSchofield

newbie

Activity: 21

Merit: 0

This is what minings all about, Inevitably the difficulty will rise.
The only way to combat this is to get more hashing power.

wayneyoyo

hero member

Activity: 606

Merit: 500

Quote from: Buziss on April 28, 2014, 11:55:11 AM

Quote from: lphelps on April 28, 2014, 11:05:07 AM

I'm starting to believe that BitCoin is going to be shitcanned for something better and with a larger supply. 21 million coins is a fucking joke if you plan on getting it widely accepted by several hundred million people or even over a billion. It would have to increase in value to where each BTC was worth tens of thousands of dollars...

Will you feel better when there are a total 21 billion mBTC, 21 trillion μBTC and 2100 trillion satoshi

The total number of coin is not really related IMHO, as you can also split it and switch to a smaller unit.

Bitcoin price have to raise to apply that ...

lowbander80

legendary

Activity: 1036

Merit: 1000

Its not only the difficulty that changes its the hardware added all the time
feb 2014 Ghash had total hash power if I can recall about 12ph now its nearly 18
With 700gh I was taking about 150,000 shares per round...now with the same hardware
I get 89,000 .I am waiting to receive 2 S1 antminers that when added barely will make 130,000
All this time I have only but invested the BTC earned and paid the electricity and I am in the same situation.
Hard to realised this has no end as new machines new hardware new asics we cant just follow all the time
unless free electricity is present.Thinking of adding some panels to my roof at least at that time I will only care if the miners are just turned ON
Even selling the equipment will make the same initial.
As a foot note I am an ebay seller.
For nearly 2 months I accept bitcoin
I never never had so far a request to be paid in bitcoins dispite the 99,7% feedback with 700 transactions annually.
This show me that confidence in Bitcoin is still non existant
Will see

kickbit

sr. member

Activity: 276

Merit: 250

In Blockchain We Trust!

Hm,
I can't understand why are you so angry.

http://mining-profit.com/bitcoin-difficulty-history - difficulty is growing almost constantly.

And you can predict your miner's profit pretty accurate: http://mining-profit.com/advanced-calculator

Buziss

hero member

Activity: 896

Merit: 1000

Quote from: lphelps on April 28, 2014, 11:05:07 AM

I'm starting to believe that BitCoin is going to be shitcanned for something better and with a larger supply. 21 million coins is a fucking joke if you plan on getting it widely accepted by several hundred million people or even over a billion. It would have to increase in value to where each BTC was worth tens of thousands of dollars...

Will you feel better when there are a total 21 billion mBTC, 21 trillion μBTC and 2100 trillion satoshi

The total number of coin is not really related IMHO, as you can also split it and switch to a smaller unit.

Buziss

hero member

Activity: 896

Merit: 1000

Quote from: lphelps on April 28, 2014, 11:05:07 AM

this shit isn't making any sense to me. I've got 1.1THS at CEX:IO and I'm looking at the GHASH.IO stats and I'm seeing it take 2-4 hours to solve a block.. God damnit!!!

And now Cex found 3 blocks in a row (298162, 298163, 298164) in 20 minutes

lphelps

member

Activity: 92

Merit: 10

this shit isn't making any sense to me. I've got 1.1THS at CEX:IO and I'm looking at the GHASH.IO stats and I'm seeing it take 2-4 hours to solve a block.. God damnit!!!

I made a whole whopping 82 cents in 6 hours of mining... Angry

4 months ago 1THS could make someone nearly $100 a day. Now it ain't doing shit!!

the fucking difficulty increases are going up tooooo high and tooooo fast!! Even if there is more hardware coming online, it shouldn't go up so fucking high that unless you are mining at 10+ THS, you won't see any profitability.

I'm starting to believe that BitCoin is going to be shitcanned for something better and with a larger supply. 21 million coins is a fucking joke if you plan on getting it widely accepted by several hundred million people or even over a billion. It would have to increase in value to where each BTC was worth tens of thousands of dollars..

Topic: 2-4 hours to solve a BTC block CEX:IO?? (Read 1318 times)