How fast will the bitcoin mining difficulty increase?

Schrankwand

full member

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Quote from: MikeGg on April 19, 2013, 04:19:29 AM

Compared with the hashing power of companies such as Amazon the hashrate is still low. It could potentially rise a low more, which is another issue which will have to be dealt with - the move from true distributed miners to a few huge ones.

Well, they have one problem: CPUs. They have CPUs everywhere, since their Cloud servers need to be versatile. They are running applications concerning servers, mostly. So their GPUs suck.

It would be gameover if someone would be amused enough to hook Blue.Gene or similar up with GPUs. The Juqueen alone would be a major fun thing Cheesy

MikeGg

newbie

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Compared with the hashing power of companies such as Amazon the hashrate is still low. It could potentially rise a low more, which is another issue which will have to be dealt with - the move from true distributed miners to a few huge ones.

AdamR

newbie

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The reality is it doesn't matter how fast the bitcoin mining difficulty will increase, in order to stay in the game will require significant capital investment from here on out. This is why the rich get richer. Its feasible to invest $100,000 USD today and within 3 months be able to start producing 15k per day with ASICS. You could cover yourself in a week. The only catch is not everyone has $100,000 lying around.

Signus

newbie

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Quote from: VladK on April 18, 2013, 11:03:53 PM

Even now, one HD7970 will give you about 1BTC per a month.
It will eat around 150kWh per a month.
It's more than 6 month to cover its cost.
And difficulty would definitely grow, but BTC cost may even drop.

The BTC may rise to accommodate for the difficulty, essentially rewarding those massive miners and those who are investing early in ASIC. If it drops its due to the lack of diversity in the pools, as people who can only afford FPGA or GPU mining will drop out, fearing that they can't recover their costs.

If you want to stay in the game with GPU's, go big.

VladK

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Even now, one HD7970 will give you about 1BTC per a month.
It will eat around 150kWh per a month.
It's more than 6 month to cover its cost.
And difficulty would definitely grow, but BTC cost may even drop.

JakethePilot

newbie

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All the reading I've been doing on the rest of the forum has lead me to believe that I started GPU pool mining wayy too late unfortunately.
The mining difficulty will increase an immense amount in the following weeks.

DannyHamilton

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Merit: 4801

Quote from: changey on April 18, 2013, 05:09:25 PM

How fast will the bitcoin mining difficulty increase? Thanks

Anyone giving you a number is guessing. There is no way to predict exactly how fast the difficulty will increase. It is entirely dependent on how much hashing power people add to the network.

russokai

full member

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Yes it seems that GPU mining won't be worth it before long if enough people get ASICs. It will truly be the end of an era.

Lauda

legendary

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Terminated.

The problem is that everyone is trying this, and GPU mining is becoming obsolete.
In a few weeks GPU mining will be dead for single and even duo setups.

I'm estimating, sadly but, 50-100mil difficulty for August :/.

Doomsby

newbie

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If people can get the Avalon chips to work that would be easily 10x difficulty right there. They are selling in batches of 10,000-200,000 @ 282MH/s each, that is 2.8TH/s for each batch of 10,000 which is pretty insane. There are only 240 in each Avalon @ 66GH/s. I can imagine some people just putting 1000 in a machine and having 10 of those np.

Eb0la

sr. member

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Merit: 250

The more that mine, the more it increases

1krona

member

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It will be rising fast and by up to 30 times.

Kruncha

sr. member

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Very quickly, it has become well known globally. Mining is for improving the community and securing transactions. If you don't have a powerful miner, your rewards will be the fact you're supporting a new finance that is user defined and not centralized.

K.

changey

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How fast will the bitcoin mining difficulty increase? Thanks

Topic: How fast will the bitcoin mining difficulty increase? (Read 3626 times)