A recap of mining profits.... | Bitcointalksearch.org

cloverme

legendary

Activity: 1512

Merit: 1057

SpacePirate.io

Quote from: spooderman on February 21, 2014, 11:04:45 AM

What used to take me 1 day to mine now takes me four months. That is the difference of one year.

This time next year will it be the same difference? What has the trend been year on year?

Difficulty is going to continue to rise as more miners mine and more miners replace/add faster equipment. There's talk of it leveling off some day in the future, I think there are too many factors to take into consideration. To keep up, it's simply a matter of adding Gh/s right now with balancing costs.

DrG

legendary

Activity: 2086

Merit: 1035

Quote from: ujka on February 25, 2014, 09:19:02 AM

Quote from: DrG on February 25, 2014, 05:31:07 AM

Quote from: spooderman on February 21, 2014, 11:33:29 AM

Nice, I obviously knew it was to do with difficulty, never seen it summarized here before though. Very useful page. Mental that less than two year ago that hash rate was about 24gh/s. LOL

It was less than 24TH/s. It jumped between 13-20TH/s for 2 years during the GPU phase. It has grown about 3 magnitudes (1000x since this time last year).

July 2010-July 2011 (switch from CPU to GPU mining) difficulty has grown 4 magnitudes (0.0001TH/s - 10TH/s)
http://bitcoin.sipa.be/speed-ever.png

He who shall not be named was the one doing all the GPU Mining in 2010 before everybody else and thereby making a pantload of coins. Haven't seen him on the forums in a while. GPU mining didn't really exploded until about March and then the price shot up to $32 when it became "popular".

ujka

hero member

Activity: 630

Merit: 500

Quote from: DrG on February 25, 2014, 05:31:07 AM

Quote from: spooderman on February 21, 2014, 11:33:29 AM

Nice, I obviously knew it was to do with difficulty, never seen it summarized here before though. Very useful page. Mental that less than two year ago that hash rate was about 24gh/s. LOL

It was less than 24TH/s. It jumped between 13-20TH/s for 2 years during the GPU phase. It has grown about 3 magnitudes (1000x since this time last year).

July 2010-July 2011 (switch from CPU to GPU mining) difficulty has grown 4 magnitudes (0.0001TH/s - 10TH/s)
http://bitcoin.sipa.be/speed-ever.png

DrG

legendary

Activity: 2086

Merit: 1035

Quote from: spooderman on February 21, 2014, 11:33:29 AM

Nice, I obviously knew it was to do with difficulty, never seen it summarized here before though. Very useful page. Mental that less than two year ago that hash rate was about 24gh/s. LOL

It was less than 24TH/s. It jumped between 13-20TH/s for 2 years during the GPU phase. It has grown about 3 magnitudes (1000x since this time last year).

beegatewood

sr. member

Activity: 297

Merit: 250

Difficulty will rise exponentially.

rmines

full member

Activity: 140

Merit: 100

You're welcome.
Yes difficulty has exploded, especially since the first ASIC's were produced.

spooderman

legendary

Activity: 1652

Merit: 1029

Nice, I obviously knew it was to do with difficulty, never seen it summarized here before though. Very useful page. Mental that less than two year ago that hash rate was about 24gh/s. LOL

rmines

full member

Activity: 140

Merit: 100

This has everything to do with difficulty. You can check the current difficulty and estimated diff here: http://bitcoinwisdom.com/bitcoin/difficulty

spooderman

legendary

Activity: 1652

Merit: 1029

What used to take me 1 day to mine now takes me four months. That is the difference of one year.

This time next year will it be the same difference? What has the trend been year on year?

Topic: A recap of mining profits.... (Read 1072 times)