Author

Topic: A recap of mining profits.... (Read 1085 times)

legendary
Activity: 1512
Merit: 1057
SpacePirate.io
February 26, 2014, 11:55:19 AM
#9
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
February 26, 2014, 02:47:12 AM
#8
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".
hero member
Activity: 630
Merit: 500
February 25, 2014, 08:19:02 AM
#7
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
February 25, 2014, 04:31:07 AM
#6
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).
sr. member
Activity: 297
Merit: 250
February 24, 2014, 11:33:33 AM
#5
Difficulty will rise exponentially.
full member
Activity: 140
Merit: 100
February 21, 2014, 10:42:41 AM
#4
You're welcome.
Yes difficulty has exploded, especially since the first ASIC's were produced.
legendary
Activity: 1652
Merit: 1029
February 21, 2014, 10:33:29 AM
#3
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
full member
Activity: 140
Merit: 100
February 21, 2014, 10:07:06 AM
#2
This has everything to do with difficulty. You can check the current difficulty and estimated diff here: http://bitcoinwisdom.com/bitcoin/difficulty
legendary
Activity: 1652
Merit: 1029
February 21, 2014, 10:04:45 AM
#1
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?
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