Bitcoin difficulty prediction - page 2.

ridertiger

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Well, trading requires a lot of experience, and most of the time people lose money, instead of win money as I understand. You have to do scalping but then I am not sure. Can you tell us more about what you do and how you do it? Do you follow signals or something?

Quote from: cryptomaniac33 on November 08, 2017, 10:23:21 PM

Quote from: CryptoLex on November 08, 2017, 08:11:56 PM

Nah dont think you can just check somewhere when the BCC price will increase except by checnking charts, but TA is not always solid

If you have enough experience trading you can see where trends go with 80% accuracy. Thats how I made most my money for the past year.

cryptomaniac33

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Quote from: CryptoLex on November 08, 2017, 08:11:56 PM

Nah dont think you can just check somewhere when the BCC price will increase except by checnking charts, but TA is not always solid

If you have enough experience trading you can see where trends go with 80% accuracy. Thats how I made most my money for the past year.

CryptoLex

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Nah dont think you can just check somewhere when the BCC price will increase except by checnking charts, but TA is not always solid

ridertiger

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So, going back to my original question, is there any way to predict increases in bitcoin cash price, at least based on the difficulty increases, assuming the other factors stay the same?

gilangIDR

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Quote from: pia19 on October 30, 2017, 06:43:16 PM

I think due to bitcoin popularity and increasing demand, there is a difficulty in mining, transferring, and accepting bitcoin. Blockchain cannot handle all the bitcoin processes all at once. That's the reason why there are a lot of unconfirmed transactions and some transactions took a long time to confirmed. And based on trends, this difficulty will increase as time goes by because the bitcoin users are also increasing.

Yes the main reason is the increase in block owned by the bitcoin chain. You can see the longer the bitcoin blocks will accumulate and this is a major factor affecting the delivery time of bitcoin. The transaction density in bitcoin networks is also very influential. Look you can notice when the number of bitcoin shipping transactions more and more each time then it will have a significant effect. This is different when the network is quite quiet and can make the delivery time faster. That's the problem now faced because we also can not turn a blind eye if the growth of bitcoin users is increasing will certainly affect most aspects of bitcoin network.

pia19

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I think due to bitcoin popularity and increasing demand, there is a difficulty in mining, transferring, and accepting bitcoin. Blockchain cannot handle all the bitcoin processes all at once. That's the reason why there are a lot of unconfirmed transactions and some transactions took a long time to confirmed. And based on trends, this difficulty will increase as time goes by because the bitcoin users are also increasing.

Skyborn

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If I understand correctly hashing power can be changed when the miners want but difficulty can only change every 2016 blocks. Keeping this in mind, we've experienced 2 possible scenario's in the past 2016 blocks.
1. over all, less mining machines were dedicated to mining bitcoin cash and more switched over to mining bitcoin
2. the number of machines dedicated to mining bitcoin cash has somewhat stayed the same but new machines were dedicated to the bitcoin network
Either way the hashpower in the bitcoin network has increased (otherwise the difficulty wouldn't have gone up).

ranochigo

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Quote from: ridertiger on October 29, 2017, 12:07:34 PM

It says, Adjust time: After 1697 Blocks, About 16.5 days
So, does that mean they estimate the next difficulty increase will be approx. two weeks from now?

Yes. The difficulty adjusts every 2016 blocks. The exact time depends on the frequency of the blocks. With the blocks being slower, the amount of times it takes to get to that many blocks would be longer.

I wouldn't count it as accurate by at any case. Hashrate could be added or removed at any point of time. Varience would also be reduced as the sample size gets bigger.

ridertiger

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It says, Adjust time: After 1697 Blocks, About 16.5 days
So, does that mean they estimate the next difficulty increase will be approx. two weeks from now?

ranochigo

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I don't think its that useful for most people so it doesn't really needs much attention.

The difficulty adjusts the difficulty of the block generation to keep it at 10minutes. Difficulty is adjusted based on the time taken to generate a block in the last 2016 block before the adjustment. With that, we can create an algorithm to estimate difficulty with it. It's not hard to predict how much percent it would increase/decrease by. However, the block generation is highly susceptible to the varience and the sudden increase/decrease in hashrate. It would be impossible to tell what the difficulty would be accurately.

If you want to see, there is an estimated difficulty at https://bitcoinwisdom.com/bitcoin/difficulty.

ridertiger

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The way I see it, some miners move away from BTC to BCC as difficulty increases, and then come back again. It would be nice if there was a way to predict the difficulty increases in bitcoin. I am sorry if it is written down somewhere but it seems to be a people's choice as opposed to something planned ahead of time. It would be very useful if someone would provide some information on this.
I could write a model or come up with a simple quadratic equation for prediction of the future continuation but a machine learning algorithm would be better.
Any ideas?

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