Author

Topic: BTC price falls and Difficulty increases (Read 4430 times)

newbie
Activity: 48
Merit: 0
January 14, 2014, 10:42:36 AM
#26
If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

False.

Just look at deepbit.  Only getwork, no stratum.  They were  3-4TH max back in the day, and 1.2TH now.  Pretty much a dead pool but people are still on there with GPUs I guess mining at a loss???  I don't think we will see any negative sustained growth for quite a while, if ever.

Like people say, if you get "free" electricity i.e. steal it from your parents or boss, you can't really mine at a loss, not until your graphics card blows up anyway, and then you do just stop. I don't think many people mine out of principle, just some are still getting "something for nothing"

I would think by the time it is not worth keeping you rig on when you turn it off now one will notice difficulty wise. Can someone point to the big drop when cpu miners stopped. Then the big diff drop when gpu miners went to alt coins. Soon it will be show me the drop when sub 1th unites were turned off. You wont even notice just like cpu and gpu now one even noticed.
hero member
Activity: 560
Merit: 500
January 14, 2014, 07:49:07 AM
#25
Everyone under the sun is liquidating their BFL rigs. I stupidly held onto it a couple days too long and are fighting everyone else to get rid of it only to get some better.

sold mine a month ago for 2x the amount i payed for them  Grin

Don't tell me - I'm psychic - eBay? Wink

same thing, norwegian site finn.no
sellers market here, pretty much 2-3 asics on at any given time. Smiley
hero member
Activity: 518
Merit: 500
January 09, 2014, 05:47:25 AM
#24
Everyone under the sun is liquidating their BFL rigs. I stupidly held onto it a couple days too long and are fighting everyone else to get rid of it only to get some better.

sold mine a month ago for 2x the amount i payed for them  Grin

Don't tell me - I'm psychic - eBay? Wink
hero member
Activity: 560
Merit: 500
January 09, 2014, 01:15:16 AM
#23
Everyone under the sun is liquidating their BFL rigs. I stupidly held onto it a couple days too long and are fighting everyone else to get rid of it only to get some better.

sold mine a month ago for 2x the amount i payed for them  Grin
newbie
Activity: 42
Merit: 0
January 09, 2014, 12:16:46 AM
#22
If price was not an issue, what's the fastest card to mine LTC?

Is this card good or there are better?
http://www.amazon.com/dp/B00G2OTRMA/ref=wl_it_dp_o_pC_S_ttl?_encoding=UTF8&colid=W3H8C9N0K4LP&coliid=I3NZZFXMZN2O2K

When would price not be an issue? If price wasn't an issue you would buy 10 rigs ....

Good point. But still. What is the fastest card out there?
hero member
Activity: 518
Merit: 500
January 08, 2014, 09:20:03 PM
#21
If price was not an issue, what's the fastest card to mine LTC?

Is this card good or there are better?
http://www.amazon.com/dp/B00G2OTRMA/ref=wl_it_dp_o_pC_S_ttl?_encoding=UTF8&colid=W3H8C9N0K4LP&coliid=I3NZZFXMZN2O2K

When would price not be an issue? If price wasn't an issue you would buy 10 rigs ....
newbie
Activity: 42
Merit: 0
January 08, 2014, 07:06:15 PM
#20
If price was not an issue, what's the fastest card to mine LTC?

Is this card good or there are better?
http://www.amazon.com/dp/B00G2OTRMA/ref=wl_it_dp_o_pC_S_ttl?_encoding=UTF8&colid=W3H8C9N0K4LP&coliid=I3NZZFXMZN2O2K
DrG
legendary
Activity: 2086
Merit: 1035
December 20, 2013, 11:17:13 AM
#19
Well technically is the card is depreciating faster than the earnings the net would be negative.  Of course with Litecoin blowing up all the cards went into hyperinflation.
hero member
Activity: 518
Merit: 500
December 19, 2013, 10:02:34 PM
#18
If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

False.

Just look at deepbit.  Only getwork, no stratum.  They were  3-4TH max back in the day, and 1.2TH now.  Pretty much a dead pool but people are still on there with GPUs I guess mining at a loss???  I don't think we will see any negative sustained growth for quite a while, if ever.

Like people say, if you get "free" electricity i.e. steal it from your parents or boss, you can't really mine at a loss, not until your graphics card blows up anyway, and then you do just stop. I don't think many people mine out of principle, just some are still getting "something for nothing"
sr. member
Activity: 472
Merit: 250
December 19, 2013, 09:58:55 PM
#17
If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

False.

Just look at deepbit.  Only getwork, no stratum.  They were  3-4TH max back in the day, and 1.2TH now.  Pretty much a dead pool but people are still on there with GPUs I guess mining at a loss???  I don't think we will see any negative sustained growth for quite a while, if ever.
hero member
Activity: 518
Merit: 500
December 19, 2013, 09:47:21 PM
#16
Some of these devices being made/planned you wont even need to worry about, because the average household electrical system will not be able to handle the power required without having to replace the whole house do to electrical fire.

True. Hopefully there won't be too many "basement miners" blowing up their parents electrical systems  Wink
hero member
Activity: 728
Merit: 503
dApps Development Automation Platform
December 19, 2013, 07:19:55 AM
#15
Some of these devices being made/planned you wont even need to worry about, because the average household electrical system will not be able to handle the power required without having to replace the whole house do to electrical fire.
hero member
Activity: 518
Merit: 500
December 19, 2013, 07:06:26 AM
#14
We're many months away from worrying about energy costs being too high to make ASIC mining unprofitable as long BTC prices don't fall below the pre-bubble price.

I keep saying that but everyone waffles on about their killer advantage being "free electricity" compared with bigger miners. Not sure many people can add up, let alone multiply.
hero member
Activity: 784
Merit: 1004
Glow Stick Dance!
December 19, 2013, 06:23:53 AM
#13
We're many months away from worrying about energy costs being too high to make ASIC mining unprofitable as long BTC prices don't fall below the pre-bubble price.
sr. member
Activity: 378
Merit: 250
December 18, 2013, 09:43:12 PM
#12
It's going to be very hard to keep mining devices online as they won't even be able to pay for themselves in energy costs.
Only the ones who are true to the intangible value of bitcoin will stay the day.


You only just realised this?
hero member
Activity: 518
Merit: 500
December 18, 2013, 09:20:48 PM
#11
Everyone under the sun is liquidating their BFL rigs. I stupidly held onto it a couple days too long and are fighting everyone else to get rid of it only to get some better.

Do they sell liquidisers that big?
DrG
legendary
Activity: 2086
Merit: 1035
December 18, 2013, 05:21:49 PM
#10
Everyone under the sun is liquidating their BFL rigs. I stupidly held onto it a couple days too long and are fighting everyone else to get rid of it only to get some better.

My catch on fire every couple of days so I leave them next to the fireplace - saves having to chop firewood.
member
Activity: 110
Merit: 10
December 18, 2013, 03:02:17 PM
#9
Everyone under the sun is liquidating their BFL rigs. I stupidly held onto it a couple days too long and are fighting everyone else to get rid of it only to get some better.
hero member
Activity: 518
Merit: 500
December 18, 2013, 03:41:05 AM
#8
If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

That's what I meant by a new equilibrium Smiley

So we can buy a pizza with 10k BTC again Tongue

lol. Probably 12"
DrG
legendary
Activity: 2086
Merit: 1035
December 18, 2013, 03:39:54 AM
#7
If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

That's what I meant by a new equilibrium Smiley

So we can buy a pizza with 10k BTC again Tongue
hero member
Activity: 518
Merit: 500
December 18, 2013, 02:25:28 AM
#6
If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

That's what I meant by a new equilibrium Smiley
legendary
Activity: 3416
Merit: 1865
Curmudgeonly hardware guy
December 18, 2013, 02:24:16 AM
#5
If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.
hero member
Activity: 518
Merit: 500
December 18, 2013, 02:18:15 AM
#4
It's going to be very hard to keep mining devices online as they won't even be able to pay for themselves in energy costs.
Only the ones who are true to the intangible value of bitcoin will stay the day.


Its a very complicated equation. Energy costs, network hash rate, and btc/$ rate.

But sure, if the bitcoin price crashes, all miners are in deep doo-doo until a new equilibrium is reached
full member
Activity: 224
Merit: 100
December 18, 2013, 01:27:49 AM
#3
This is true if the price keeps falling. BTC could very well rebound to well beyond what it's valued today. As China pulls out, the US (and its Wall Street) and a number of other countries take its place (and China is only in movement towards further regulation now). Was it truly a bubble or will optimism prevail. Only time will tell.  Huh
newbie
Activity: 42
Merit: 0
December 18, 2013, 01:25:22 AM
#2
I hope ASIC device makers drop the prices as well.
sr. member
Activity: 243
Merit: 250
December 18, 2013, 01:19:06 AM
#1
It's going to be very hard to keep mining devices online as they won't even be able to pay for themselves in energy costs.
Only the ones who are true to the intangible value of bitcoin will stay the day.
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