Did difficulty go up a couple of days ago?

pacojones

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Quote from: SeanArce on August 16, 2013, 10:48:26 AM

I'm wondering if I should still get a gpu. There's always alt currency, right?

the second most popular coin (litecoin) can be mined with GPUs but there are a few alt coins that can be mined with asic hardware. My guess is that when btc is too difficult for 'most' people ltc will gain a lot of popularity but it's like silver and gold or netflix and amazon or itunes and... the one who does it right first will be ahead for the foreseeable future.

although - mining ltc is super tempting!

SeanArce

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I'm wondering if I should still get a gpu. There's always alt currency, right?

davewr2013

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Bitcoin For All

There are parallels....

South Sea Bubble:

Not long after the emergence of the SSC, another British company, the Mississippi Company, established itself in France. The company was the brainchild of an exiled Brit named John Law. His idea wasn't so much based in trade, but in switching the monetary system from gold and silver into a paper currency system. The Mississippi Company caught the attention of all the continental traders and gave them a space to put their hard-earned dollars. Soon the worth of the Mississippi Company's stock was worth 80 times more than all the gold and silver in France. Law also began collecting defunct companies to add to his massive conglomerate.

This success on the continent stirred British pride, and, believing that British companies could not fail, British investors were desperate to invest their money. They were blind to many indications that the SSC was run too poorly to break even (whole shipments of wool were misdirected and left decaying in foreign ports), and people wanted to buy even more stocks. The South Sea Company and others made a point of giving people what they wanted. The demand for investments caused IPOs to sprout out of everything, including companies that promised to reclaim sunshine from vegetables and to build floating mansions to extend Britain's landmass. They all sold like mad.

Eventually the management team of SSC took a step back and realized that the value of their personal shares in no way reflected the actual value of the company or its dismal earnings. So they sold their stocks in the summer of 1720 and hoped no one would leak the failure of the company to the other shareholders. Like all bad news, however, the knowledge of the actions of SSC management spread, and the panic selling of worthless certificates ensued. The huge hole in the south sea bubble also punctured the Mississippi Company's unrealistic value and both came crashing down.

Tulip Mania
The Dot Com Crash...
Ponzi

Just sayin'

payb.tc

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Quote from: Kuroth on August 16, 2013, 09:13:05 AM

Why is it now estimated to go back down?

who is estimating that? i think vlad and cyberdyne are joking around, next difficulty estimate is sitting on 53-55m according to bitcoindifficulty.com and bitcoincharts.com

polarhei

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Firing it up

Quote from: immortal4now on August 15, 2013, 05:55:33 AM

Quote from: smoothie on August 15, 2013, 05:51:53 AM

My guess would be 90% of all GPU miners switched prior to July 2013. I would be surprised to know of 10% of all GPU miners still mining bitcoin and NOT Litecoin.

So true, mining LTC and exchanging to BTC is more profitable

Red ocean versus Blue ocean, Even am i, I still do two thing, the red ocean to let people to do with while I use the provided for scrypt, good deal if exchange stable.

polarhei

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Firing it up

Perhaps overheat on machines. Air cannot do the thing efficient, water can do as when in full load, in stable case, the equipment never reach over than 65 degrees C if proper configured. It does not care what you are using.

Kuroth

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Why is it now estimated to go back down?

Cyberdyne

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Quote from: ?? on ??

Quote from: smoothie on August 15, 2013, 05:42:19 AM

You guys should look at it this way... this last difficulty adjustment is equivalent to more than ALL of the previous difficulty reached from 2009 until the beginning of June 2013.

This is astounding.

yep, exponential growth is so damn counter intuitive, one just never knows when it will him him, lol

and as I said already many times, this is a bubble, look out beloooow!!! Wink

Lucky I didn't short it last week when you first mentioned it Wink

millsdmb

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to quote ninjarobot from another thread:

https://bitcointalk.org/index.php?topic=273184.40

dave111223

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Quote from: ?? on ??

and as I said already many times, this is a bubble, look out beloooow!!! Wink

Yeah...and as soon as the bubble pops everyone will hop on the train and start panic-unplugging their rigs. Difficulty single digits here we come! Cheesy

Oh wait...

immortal4now

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Chromia - Relational Blockchain

Quote from: smoothie on August 15, 2013, 05:51:53 AM

My guess would be 90% of all GPU miners switched prior to July 2013. I would be surprised to know of 10% of all GPU miners still mining bitcoin and NOT Litecoin.

So true, mining LTC and exchanging to BTC is more profitable

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: Cyberdyne on August 14, 2013, 10:54:57 PM

Quote from: nexus99 on August 14, 2013, 10:53:26 PM

Quote from: lukestokes on August 14, 2013, 10:27:54 PM

Yes: http://dot-bit.org/tools/nextDifficulty.php

13/08/2013 18:11

Thanks. It is getting damn painful now.

I'm surprised the LTC difficulty has stayed so steady (~900). I would have thought more Bitcoin-GPU-Abandoners would be making the switch lately.

My guess would be 90% of all GPU miners switched prior to July 2013. I would be surprised to know of 10% of all GPU miners still mining bitcoin and NOT Litecoin.

poelling92

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Quote from: Cyberdyne on August 14, 2013, 10:27:19 PM

Quote from: nexus99 on August 14, 2013, 10:16:34 PM

Did difficulty go up a couple of days ago?

Not sure if serious.

It only went up by about 13 million.

http://bitcoindifficulty.com

Makes sence, because I noticed my mined BTC dont go up as I was used to

smoothie

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LEALANA Bitcoin Grim Reaper

You guys should look at it this way... this last difficulty adjustment is equivalent to more than ALL of the previous difficulty reached from 2009 until the beginning of June 2013.

This is astounding.

malevolent

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