Topic: Hey, shouldn't we pull out of mining before the difficulty change? (Read 2140 times)
It won't work, since as everyone switches their rigs back on, the difficulty skyrockets in a few days (or how ever it takes to get to the next retarget), effectively nullifying the gains from the temporarily reduced difficulty.
August 06, 2011, 07:26:20 AM
I don't know if this would work or not... It would make the difficulty change after the adjustment lower.
People won't do that, for this reason:
http://en.wikipedia.org/wiki/Tragedy_of_the_commons
August 06, 2011, 05:13:37 AM
I don't know if this would work or not... It would make the difficulty change after the adjustment lower.
Why would it have to be lower?
August 03, 2011, 04:20:44 PM
Actually with the price drop today and the difficulty increase coming...I see some people with higher electricity costs shutting down for a week or two to let the price stabilize.
I, myself, as a single GPU miner can still mine until the priced drops below 3.70 for a bitcoin
I, myself, as a single GPU miner can still mine until the priced drops below 3.70 for a bitcoin
August 01, 2011, 01:12:37 PM
It's a measurement over the entire time period, not an instantaneous reading at the last block. Stopping just before the changeover would accomplish nothing. I would hope that they would have designed the algorithm better than that. 
I'm unsure why deepbit is reporting a different difficulty then. The same one dot-bit s difficulty page shows. Bitcoins havin some troubles already?
August 01, 2011, 09:56:08 AM
It's a measurement over the entire time period, not an instantaneous reading at the last block. Stopping just before the changeover would accomplish nothing. I would hope that they would have designed the algorithm better than that.
August 01, 2011, 07:18:44 AM
Are we watching the same blockchain? The ones I'm looking at say 33 blocks to go.
edit: Hmm, I guess these sites are having problems. Deepbit and dot-bit show something else. Weird. They say 1890362
edit: Hmm, I guess these sites are having problems. Deepbit and dot-bit show something else. Weird. They say 1890362
Look at new difficulty here.
http://blockexplorer.com/block/00000000000003f62ca68937e18496121ccd2858b2b43099525d3f92015b0afd
August 01, 2011, 05:57:54 AM
I don't know if this would work or not... It would make the difficulty change after the adjustment lower.
Very doubtful. Not sure how the system works, but it'll likely take into account the total time it took between the last scheduled difficulty and the new difficulty change and change difficulty accordingly. I'm pretty sure it wouldn't adjust difficulty based on the last few blocks, or that would be hugely exploitable.
In related news, only 3 block to go before new difficulty!
edit: 2 blocks to go
edit: 1 block!
edit: New difficulty out, from 1690895.8030524 to 1888786.7053531 which is a jump of 11.7%
Are we watching the same blockchain? The ones I'm looking at say 33 blocks to go.
edit: Hmm, I guess these sites are having problems. Deepbit and dot-bit show something else. Weird. They say 1890362
August 01, 2011, 03:28:34 AM
I don't know if this would work or not... It would make the difficulty change after the adjustment lower.
OK. But you first. 
August 01, 2011, 02:54:14 AM
I don't know if this would work or not... It would make the difficulty change after the adjustment lower.
Very doubtful. Not sure how the system works, but it'll likely take into account the total time it took between the last scheduled difficulty and the new difficulty change and change difficulty accordingly. I'm pretty sure it wouldn't adjust difficulty based on the last few blocks, or that would be hugely exploitable.
In related news, only 3 block to go before new difficulty!
edit: 2 blocks to go
edit: 1 block!
edit: New difficulty out, from 1690895.8030524 to 1888786.7053531 which is a jump of 11.7%
August 01, 2011, 02:48:54 AM
I don't know if this would work or not... It would make the difficulty change after the adjustment lower.
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