Topic: Diff thread Jan 13 to Jan 27 picks are closed! - page 10. (Read 8570 times)

Proposals or not.. wouldnt have mattered as china wasnt on board.. The fact of the matter is .> china has over 71 % .. so coming to consensus is now next to impossible. We now find ourselves catering to the chinese.  Thus the system cant work!  How can one trust a system that is being centralised to a country not known for its freedoms? I personally think they have gotten beyond greedy.. Now its a game of pump and dump even with btc.. I thought i wouldnt see the day that btc could be manipulated so easily.. I can understand the early days. less coins etc.. but now? its most certain that these handful of people are just having fun at our expense.. No THANKS

Personally.. Im just about over this childish experiment as well.. I hope that some of you die hard bitcoin fanatics dont go down with the ship.. Its really not worth it.. If your holding over 1 btc then your not doing this right.. with only 21 million coins If this is ever going to gain traction then 1 btc should in theory make you filthy stinking rich. And thats what attracts people to this  Not the technology that comes secondary to most miners!

Heres a great experiment to test btc loyalty. Lets let the price be 10$  then lets see where the difficulty goes then?.. If you support the blockchain and the technology then you stay at a major loss if you mine.. If you only in it to make a buck like most are, Then the network diff should go back to where gpu become profitable again. 

Going to make for an interesting 2016.. Im shutting down my s2's as i dont see a big pump coming for halving.. Too much BS and manipulation for investors and its only been getting worse.. sad as this was a great idea.. Still is.. but has to be done differently..   If you really cared about banking the unbanked then btc should have been 0 $ till all coins were mined then evenly distributed to every man woman and child in the world.. We all know thats not gonna happen. So again think who was this really designed for in the beginning. everyone or the rich? Was this a ploy to dupe those that think outside the sytem?  Another great experiment will go down in flames due to the elite wanting to keep the world under their grip! 

Best Regards
d57heinz

the guy rage quit to a new competitive employer (R3), then threw mud at his former 'collegues'.
check this video and see if he was any good to bitcoin anyway with these pretty wild ideas of not following the longest fork, checkpoints, etc.
https://www.youtube.com/watch?v=DB9goUDBAR0

he is just unable to admit that his proposal failed. Big whoop, it happens, deal with it.
I don't see any inability to change whatsoever. Segwit is pretty interesting and so is Rootstock and LN.
If there is an option for bitcoin to grow, but fundamentally change or Not grow as fast, but remain truthful to it's original intent, I would very much prefer the latter.
This whole affair was orchestrated by R3:
https://www.reddit.com/r/Bitcoin/comments/413pwp/mike_hearns_latest_blog_post_was_a_strategic_move/

the video is unavailable now, LOL

Such are the pains of open source. It's great in theory, but it introduces a TON of inefficiencies, and leadership disparity can one of the biggest issues. This is going to get rocky, especially with a looming global banking crisis on the horizon again.

Yes, the recent price drop is almost certainly due to Mike's announcement. I read it yesterday. It's very sobering, and very pessimistic.

It's not enough to make me panic and sell out. But it is clear that the Bitcoin protocol needs to change in order for the currency to grow, but there are a number of very difficult factors that are preventing the right things from happening.

Ironic that probably the biggest threat to Bitcoin is its own community and an inability to change...

yes if they were growing with .5 watt or more gear but they arent.. Its growin with .25 and .1 watt gear.. so they can drive the price right on down to the mid 100$ if they like

Ohh and we can thank china for this aswell   On January 15, 2016, Mike Hearn officially resigned as a full time Bitcoin core developer. Even if a new team replaces Bitcoin Core, Hearn emphasizes that the concentrated and centralized mining power in China would still be a critical issue.

http://www.newsbtc.com/2016/01/15/mike-hearn-resigns-and-leaves-bitcoin-permanently/

ive been thinking this for a while now..

“It has failed because the community has failed,” said Hearn. “What was meant to be a new, decentralised form of money that lacked “systemically important institutions” and “too big to fail” has become something even worse: a system completely controlled by just a handful of people.”

Here is his official statement 

https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.cxygsg9eg

Of course the manufacturers got to keep this rolling.. If not for asic sales in btc where would btc price be atm.. Prolly much less than it is now.. Beginning to wonder without sales of asics in btc.. what is the real value of btc..

If we break through 390 ish  hang on to your hat .. Next fib line is in the 340 - 350 $ area..   I dumped what i had to to pay power at 418..  This sure makes the diff jumps that much harder to take..

The best that happens is btc settles at 350.  that should halt a lot of growth.

I think the reason is technical...short term speculators resigned on possibility of fast profits as BTC was unable to cross previously hit 500 USD barrier.

I guess next diff level would be 128,000,000,000.00 or even more. It will depends btc market price. Total available hash power is more than 1,200,000,000.00 GH/s, so there is much power in reserve. I think we will see 0.10J/Gh or even 0.05J/Gh chips this year. These chips might be running already.

Yeah but one thing you need to understand is that if everybody else is doing it, then its never a good thing.

Back in 2014 people went crazy about mining and everybody was buying BTC or miners left and right, and look what happened.

Alot of people took a loss in 2015 and things began to stabalize.

Same thing happened with the price of Gold/Silver 5 years ago, everybody was buying it and it became a bubble and crashed.

It's dropping fast ouch all we can do is hope sale walls hold up.   I really don't want to go under 400 again.

Am I missing any bad news? I saw Cryptsy went bad.  But nothing that I thought would cause this drop.

...and you were right, we are touching 400 now. Crashing through 400 support would be really bad news.

they said the same thing the last year, there will be always a good opportunity for mining if you have the same deal as big farm, because otherwise it mean that not even those farm can mine...you know

I think the best time to mine is NOW!

Only going to get harder and harder from here on.

It's going to get hard to mine if difficulty keeps rising like it does and BTC does not head in the up direction.  I'm afraid of what halving will look like... that could really hurt if this trend continues.

Mining is getting harder and harder.

Yeah I know this isn't a BTC price speculation but in the short/medium term, I see it going a little lower with those failed highs recently.

well if we had -9 for diff   and price drops from 435 to 410  that is -5.7

so its a win for mining.

From all that I have seen we are not going to keep ripping 9 or 10 %

last diff the worst day was Jan 10 at 178 blocks

the diff before the worst day was dec 27 at 202 blocks

We know bitfury did a really big mega farm say 200ph.
We know they had tons of up and down days
Well if they have settled in and no more ups and downs that is one less growth for now.

My guess is  5% or less this time. (I hope)

a 132  block day is nice

147 on the 13th
132 on the 14th      these are good.

That is a pretty amazing number I wish that it would last.  Would love a week with low or negative would be even better but I wont hold my breath.

Price is in the high 420's.  So dropped from low 430's.  So BTC is going opposite direction as we want it to.

Ok today is over and we finished the day at -9%

Looking good so far.