Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming 
Facts : Difficulty will never lower.
https://bitcoinwisdom.com/bitcoin/difficulty
Topic: Let me sum it up for you people. (Read 5701 times)
Facts : Difficulty will never lower.
https://bitcoinwisdom.com/bitcoin/difficulty
Btc price drops 18%
Difficulty jumps 18%
Your mining profit got shafted 36% ...
But who cares, keep donating money to hardware vendors, they need your help.
Difficulty jumps 18%
Your mining profit got shafted 36% ...
But who cares, keep donating money to hardware vendors, they need your help.
Actually profit drop more then 36% if expenses is included
.The end is nigh? This is what I was afraid of. Bitcoin market is easily manipulated. There is no stability here.
I don't even understand what your saying? Bitcoin is going to crhash, but difficulty is never going down? So miners will be mining as a hobby or a community service?
Dude miners will be way past profit at that point in time... They're crashing the price just because its a race to see who gets more fiat faster. The mining farms are literally racing each other to get the most fiat & this will continue to crash the price down. Just remember at double digits per coin, they sstill make a profit!
Your "newbie" title is deceiving. You're one of the few people here who knows what he's talking about.
Thanks bro... As I said in other post, Im not really a forum person, I only signed up on here because I see a massive robbery taking place on the entire community. I have been in BTC since the beginning.
Coins are made at virtually the same rate regardless of how much they throw at it...
What are you talking about? We're up to like 3,600 btc a day being mined and dumped for anything they can getThe network adapts to maintain approximately the same number of bitcoin produced every day regardless of how much hashrate you throw at it. It's always going to be ~3600 bitcoin per day until the next block halving.
Meh. Bitcoin is dead anyway:P
Translation : I'm just a fucking retard anyway.
Coins are made at virtually the same rate regardless of how much they throw at it...
What are you talking about? We're up to like 3,600 btc a day being mined and dumped for anything they can getThe network adapts to maintain approximately the same number of bitcoin produced every day regardless of how much hashrate you throw at it. It's always going to be ~3600 bitcoin per day until the next block halving.
Meh. Bitcoin is dead anyway:P
Coins are made at virtually the same rate regardless of how much they throw at it...
What are you talking about? We're up to like 3,600 btc a day being mined and dumped for anything they can getThe network adapts to maintain approximately the same number of bitcoin produced every day regardless of how much hashrate you throw at it. It's always going to be ~3600 bitcoin per day until the next block halving.
What happens to the price of Bitcoin if the top 3 new block generators get together and agree to not dump their BTC for a period of time?
This is what scares me about the centralization of BTC mining. The big players can manipulate the price to their advantage and screw everyone else in the process. The insiders hold all of the marbles.
BTC is doomed.
This is what scares me about the centralization of BTC mining. The big players can manipulate the price to their advantage and screw everyone else in the process. The insiders hold all of the marbles.
BTC is doomed.
Then the price would go to $1200, but only if you can get them to cooperate..
But they couldn't afford to hold forever. They would eventually have a coordinated dump on the
Lather, rinse, repeat.
Bitcoin, dead.
What happens to the price of Bitcoin if the top 3 new block generators get together and agree to not dump their BTC for a period of time?
This is what scares me about the centralization of BTC mining. The big players can manipulate the price to their advantage and screw everyone else in the process. The insiders hold all of the marbles.
BTC is doomed.
This is what scares me about the centralization of BTC mining. The big players can manipulate the price to their advantage and screw everyone else in the process. The insiders hold all of the marbles.
BTC is doomed.
Then the price would go to $1200, but only if you can get them to cooperate..
What happens to the price of Bitcoin if the top 3 new block generators get together and agree to not dump their BTC for a period of time?
This is what scares me about the centralization of BTC mining. The big players can manipulate the price to their advantage and screw everyone else in the process. The insiders hold all of the marbles.
BTC is doomed.
This is what scares me about the centralization of BTC mining. The big players can manipulate the price to their advantage and screw everyone else in the process. The insiders hold all of the marbles.
BTC is doomed.
I don't even understand what your saying? Bitcoin is going to crhash, but difficulty is never going down? So miners will be mining as a hobby or a community service?
Dude miners will be way past profit at that point in time... They're crashing the price just because its a race to see who gets more fiat faster. The mining farms are literally racing each other to get the most fiat & this will continue to crash the price down. Just remember at double digits per coin, they sstill make a profit!
Your "newbie" title is deceiving. You're one of the few people here who knows what he's talking about.
I don't even understand what your saying? Bitcoin is going to crhash, but difficulty is never going down? So miners will be mining as a hobby or a community service?
Dude miners will be way past profit at that point in time... They're crashing the price just because its a race to see who gets more fiat faster. The mining farms are literally racing each other to get the most fiat & this will continue to crash the price down. Just remember at double digits per coin, they sstill make a profit!
I don't even understand what your saying? Bitcoin is going to crhash, but difficulty is never going down? So miners will be mining as a hobby or a community service?
I could easily see difficulty drop in the not so distant future, once electrical and operation costs exceed miner earnings for the large mining farms.
The big boys will be forced to shut down or scale operations, we'll see a negative difficulty jump, network hash rate will flat line or lower, and the home miners will jump in again to confirm the transactions.
Could easily see this cycle happen around 2015-2016, probably closer to the halving.
The big boys will be forced to shut down or scale operations, we'll see a negative difficulty jump, network hash rate will flat line or lower, and the home miners will jump in again to confirm the transactions.
Could easily see this cycle happen around 2015-2016, probably closer to the halving.
I love how you all bet on these mega farms to close when more are opening and they're bringing their cost down substantially! THEY WILL NOT CLOSE UNTIL BTC CRASHES FAR BELOW $100 !!! Even then most of these farms will still earn a few bucks a day (sound like us home miners right?) but point is they'll keep on doing it!!! Difficulty will never drop from one adjustment to the next... maybe the hash rate will drop here and there but it will NEVER drop mark my words!!! I have literally seen millions of ASIC chips just waiting to be bought up... Since nobody wants them & they have so much supply they're mining themselves and doing huge discounts for big purchases! But wait, who didn't know this already???
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
What to bet 10 btc on this? You win if diff doesn't go down (on 1 adjustment) over the next 2 years. Otherwise I win.
LMFAO!!! Send the 10coins to 1FJcA7cCLeFiEAeMg4QPKfSqTt2nQvT5SM but pleaseee you wouldn't dare bet! I love how you say 2 yrs because you're hoping the mining reward going down to 12.5btc will have a huge effect on large mining operations, not realizing they'll be far past the breakeven point at that time & they could care less what happens to BTC! Hence why they're bombing the price down in front of your eyes everyday!!! & you think $1.8m in mining revenue PER DAY will stop or slow down why?! They're the ones dumping the coins! They can still do it at a profit when BTC is sub $100
Deal. Let's find a fair agreed upon intermediate. I'll take the bet a decrease before the halving of rewards.
Yes, but unlike two years ago most of these coins are now probably being sold off immediately. It seems probable that's what's behind the long downward slide we've seen.
So what? Bitcoin wouldn't work if everybody just would sit on them. Gosh, if I had kept all my Bitcoins I ever mined, I would be millionaire (don't tell my wife! PLEASE!) But I've spent basically all of them. A t-shirt here, a book there, paying some developers - through this, you can populate Bitcoins. Which gives them a value.
Lmfao you're an idiot... Do you know what the owner of the store who you bought books from did with the bitcoin??? HE SOLD IT INSTANTLY! What about the t-shirt companies & developers?! SOLD! SOLD! SOLD!! You really think you're helping the bitcoin economy but if you would have just held on, there would be less coins being dumped on the market. You think you're helping bitcoin when you're really helping destroy it.
I prefer being an idiot instead of a troll
Nobody is trolling here. I am very involved in this "bitcoin economy" and I will continue to profit regardless if it goes up or down... Thanks for your opinion, What I say is not meant as a personal attack but rather to wake more people up to the fact that this isn't just a get rich quick scheme and there is a huge potential to lose money.
Yes, but unlike two years ago most of these coins are now probably being sold off immediately. It seems probable that's what's behind the long downward slide we've seen.
So what? Bitcoin wouldn't work if everybody just would sit on them. Gosh, if I had kept all my Bitcoins I ever mined, I would be millionaire (don't tell my wife! PLEASE!) But I've spent basically all of them. A t-shirt here, a book there, paying some developers - through this, you can populate Bitcoins. Which gives them a value.
Lmfao you're an idiot... Do you know what the owner of the store who you bought books from did with the bitcoin??? HE SOLD IT INSTANTLY! What about the t-shirt companies & developers?! SOLD! SOLD! SOLD!! You really think you're helping the bitcoin economy but if you would have just held on, there would be less coins being dumped on the market. You think you're helping bitcoin when you're really helping destroy it.
Oh I think he is helping the market. Holding coins does nothing to advance the market. Spending coins moves us forward. Sure hoarding may take those coins out of the market and can cause the price to climb. But it just crashes back down to a logical level. I spend all the time and most coins are likely converted to fiat by the buyer. But without active use of bitcoin it has little value and no reason to be adopted.
You don't really think we can just buy and sell coins to each other? There is no rational growth in that strategy. That is why I love a good crash. It get's out the dead wood and the starry eyed "investors". It's sad that they take a bath, but when they are gone we see the real BTC economy.
No I don't think we should be buying and selling coins for fiat! What helps the BTC economy is when we just continue to use bitcoin no matter what and don't even make it into meaningless useless fiat paper. That's when we will get real value. For example, I own a foodmart, deli, and other shops of all kinds & I am accepting bitcoin... so if I can get paid fully in BTC & I am able to buy food for my family, gas, cars, houses, etc with my bitcoin then I don't need that useless dollar anyway & I have no need to dump my coins for fiat or change my lifestyle. We are trusting huge corporations with this technology and hoping they will play far LOL! They want that meaningless dollar ONLY! That's the only reason why they even accept BTC. We need to have all mom and pop stores accepting bitcoin so we can drive away all these dumpers of our beloved currency. I bet he could have got the same books and t-shirts from somebody out there that would have actually held the coins instead of trading for fiat. You guys are destroying this currency. Keep this community tight & we will fly to new levels!
Yes, but unlike two years ago most of these coins are now probably being sold off immediately. It seems probable that's what's behind the long downward slide we've seen.
So what? Bitcoin wouldn't work if everybody just would sit on them. Gosh, if I had kept all my Bitcoins I ever mined, I would be millionaire (don't tell my wife! PLEASE!) But I've spent basically all of them. A t-shirt here, a book there, paying some developers - through this, you can populate Bitcoins. Which gives them a value.
Lmfao you're an idiot... Do you know what the owner of the store who you bought books from did with the bitcoin??? HE SOLD IT INSTANTLY! What about the t-shirt companies & developers?! SOLD! SOLD! SOLD!! You really think you're helping the bitcoin economy but if you would have just held on, there would be less coins being dumped on the market. You think you're helping bitcoin when you're really helping destroy it.
I prefer being an idiot instead of a troll
Yes, but unlike two years ago most of these coins are now probably being sold off immediately. It seems probable that's what's behind the long downward slide we've seen.
So what? Bitcoin wouldn't work if everybody just would sit on them. Gosh, if I had kept all my Bitcoins I ever mined, I would be millionaire (don't tell my wife! PLEASE!) But I've spent basically all of them. A t-shirt here, a book there, paying some developers - through this, you can populate Bitcoins. Which gives them a value.
Lmfao you're an idiot... Do you know what the owner of the store who you bought books from did with the bitcoin??? HE SOLD IT INSTANTLY! What about the t-shirt companies & developers?! SOLD! SOLD! SOLD!! You really think you're helping the bitcoin economy but if you would have just held on, there would be less coins being dumped on the market. You think you're helping bitcoin when you're really helping destroy it.
Oh I think he is helping the market. Holding coins does nothing to advance the market. Spending coins moves us forward. Sure hoarding may take those coins out of the market and can cause the price to climb. But it just crashes back down to a logical level. I spend all the time and most coins are likely converted to fiat by the buyer. But without active use of bitcoin it has little value and no reason to be adopted.
You don't really think we can just buy and sell coins to each other? There is no rational growth in that strategy. That is why I love a good crash. It get's out the dead wood and the starry eyed "investors". It's sad that they take a bath, but when they are gone we see the real BTC economy.
Yes, but unlike two years ago most of these coins are now probably being sold off immediately. It seems probable that's what's behind the long downward slide we've seen.
So what? Bitcoin wouldn't work if everybody just would sit on them. Gosh, if I had kept all my Bitcoins I ever mined, I would be millionaire (don't tell my wife! PLEASE!) But I've spent basically all of them. A t-shirt here, a book there, paying some developers - through this, you can populate Bitcoins. Which gives them a value.
Lmfao you're an idiot... Do you know what the owner of the store who you bought books from did with the bitcoin??? HE SOLD IT INSTANTLY! What about the t-shirt companies & developers?! SOLD! SOLD! SOLD!! You really think you're helping the bitcoin economy but if you would have just held on, there would be less coins being dumped on the market. You think you're helping bitcoin when you're really helping destroy it.
I'm not saying it's a bad thing, just observing that I think it's what's behind the recent decline.
Could be - they and all the small miners need to pay electricity, and if they focus on mining, their only source of income is - mining. And in combination with traders and their stop-loss orders, the price may go down a bit. Self-regulation I'd call this.... :-)
I'm not saying it's a bad thing, just observing that I think it's what's behind the recent decline.
Yes, but unlike two years ago most of these coins are now probably being sold off immediately. It seems probable that's what's behind the long downward slide we've seen.
So what? Bitcoin wouldn't work if everybody just would sit on them. Gosh, if I had kept all my Bitcoins I ever mined, I would be millionaire (don't tell my wife! PLEASE!) But I've spent basically all of them. A t-shirt here, a book there, paying some developers - through this, you can populate Bitcoins. Which gives them a value.
Coins are made at virtually the same rate regardless of how much they throw at it...
Yes, but unlike two years ago most of these coins are now probably being sold off immediately. It seems probable that's what's behind the long downward slide we've seen.
The point is they're crashing the system by making all these coins at a super fast rate just to sell them to anyone willing to buy it at the highest price possible!
Coins are made at virtually the same rate regardless of how much they throw at it...No no you aren't getting it... Super fast meaning now since ASICs came out the game is over. This is the super fast rate im referring too. Because more people are producing plenty of btc per day & less people are willing to buy them the price will go way wayyy lower.
The btc produced is still the same. Just that few big miner take a big portion of it.
The point is they're crashing the system by making all these coins at a super fast rate just to sell them to anyone willing to buy it at the highest price possible!
Coins are made at virtually the same rate regardless of how much they throw at it...No no you aren't getting it... Super fast meaning now since ASICs came out the game is over. This is the super fast rate im referring too. Because more people are producing plenty of btc per day & less people are willing to buy them the price will go way wayyy lower.
Why should I think that the huge mining farms care about supporting the system? They care about their money, but they do also support the system. It goes hand in hand. Without miners, no Bitcoin-system. So what exactly is your point?
The point is they're crashing the system by making all these coins at a super fast rate just to sell them to anyone willing to buy it at the highest price possible! Now the highest bid is always lower and lower and .......
Go back and learn about bitcoin mining noobs,
The point is they're crashing the system by making all these coins at a super fast rate just to sell them to anyone willing to buy it at the highest price possible!
Coins are made at virtually the same rate regardless of how much they throw at it... Why should I think that the huge mining farms care about supporting the system? They care about their money, but they do also support the system. It goes hand in hand. Without miners, no Bitcoin-system. So what exactly is your point?
The point is they're crashing the system by making all these coins at a super fast rate just to sell them to anyone willing to buy it at the highest price possible! Now the highest bid is always lower and lower and .......
I'm sick of this snake-race. Difficulty goes up - difficulty goes down. So what. This is how things go. I could make tons of predictions, every single one would be right someday.
What's more important to me is that the system is kept alive. And this only happens if there are enough private miners. I'm sure the Big Boys know this, and I'm sure they have the possibility to scale down the hash rate as well as they can put it higher.
And if someone tells me "Why don't you buy Bitcoins instead", my response is: I'm not mining only for making some profits, I'm also mining for keeping the system alive. It is - amongst many other things - a political statement, too.
What's more important to me is that the system is kept alive. And this only happens if there are enough private miners. I'm sure the Big Boys know this, and I'm sure they have the possibility to scale down the hash rate as well as they can put it higher.
And if someone tells me "Why don't you buy Bitcoins instead", my response is: I'm not mining only for making some profits, I'm also mining for keeping the system alive. It is - amongst many other things - a political statement, too.
I agree with your view on keeping the system alive. That's the only reason why I started mining is the bitcoin is a great idea.
Too bad hardware and electric costs make it impossible at times to be profitable. As I posted before I gain a little bit of profit due to the fact I buy my electric in bulk so to say I pay it in advance every year and receive a 33% discount from the electric company here in Alaska plus it does cut down on my gas bill so its a win.
Why should I think that the huge mining farms care about supporting the system? They care about their money, but they do also support the system. It goes hand in hand. Without miners, no Bitcoin-system. So what exactly is your point?
I'm sick of this snake-race. Difficulty goes up - difficulty goes down. So what. This is how things go. I could make tons of predictions, every single one would be right someday.
What's more important to me is that the system is kept alive. And this only happens if there are enough private miners. I'm sure the Big Boys know this, and I'm sure they have the possibility to scale down the hash rate as well as they can put it higher.
And if someone tells me "Why don't you buy Bitcoins instead", my response is: I'm not mining only for making some profits, I'm also mining for keeping the system alive. It is - amongst many other things - a political statement, too.
What's more important to me is that the system is kept alive. And this only happens if there are enough private miners. I'm sure the Big Boys know this, and I'm sure they have the possibility to scale down the hash rate as well as they can put it higher.
And if someone tells me "Why don't you buy Bitcoins instead", my response is: I'm not mining only for making some profits, I'm also mining for keeping the system alive. It is - amongst many other things - a political statement, too.
Keep supporting the system so it can steal all the wealth from under you!!! You think the huge mining farms care about supporting the system?! LMFAO! They're doing it to crash the system!
I'm sick of this snake-race. Difficulty goes up - difficulty goes down. So what. This is how things go. I could make tons of predictions, every single one would be right someday.
What's more important to me is that the system is kept alive. And this only happens if there are enough private miners. I'm sure the Big Boys know this, and I'm sure they have the possibility to scale down the hash rate as well as they can put it higher.
And if someone tells me "Why don't you buy Bitcoins instead", my response is: I'm not mining only for making some profits, I'm also mining for keeping the system alive. It is - amongst many other things - a political statement, too.
What's more important to me is that the system is kept alive. And this only happens if there are enough private miners. I'm sure the Big Boys know this, and I'm sure they have the possibility to scale down the hash rate as well as they can put it higher.
And if someone tells me "Why don't you buy Bitcoins instead", my response is: I'm not mining only for making some profits, I'm also mining for keeping the system alive. It is - amongst many other things - a political statement, too.
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
What to bet 10 btc on this? You win if diff doesn't go down (on 1 adjustment) over the next 2 years. Otherwise I win.
That's easy money, man.
No moron would put up 10 BTC on that happening.At least I don't think anyone would. If he somehow does man up on the bet, I'd bookmark this page for sure!
P.S. - There's been 8 difficulty decreases in the 5 year history of Bitcoin. Just throwing that out there.
and one more difficulty decrease is coming..then the statement becomes " There's been 9 difficulty decreases in the 5 year history of Bitcoin"
I could easily see difficulty drop in the not so distant future, once electrical and operation costs exceed miner earnings for the large mining farms.
The big boys will be forced to shut down or scale operations, we'll see a negative difficulty jump, network hash rate will flat line or lower, and the home miners will jump in again to confirm the transactions.
Could easily see this cycle happen around 2015-2016, probably closer to the halving.
The big boys will be forced to shut down or scale operations, we'll see a negative difficulty jump, network hash rate will flat line or lower, and the home miners will jump in again to confirm the transactions.
Could easily see this cycle happen around 2015-2016, probably closer to the halving.
I love how you all bet on these mega farms to close when more are opening and they're bringing their cost down substantially! THEY WILL NOT CLOSE UNTIL BTC CRASHES FAR BELOW $100 !!! Even then most of these farms will still earn a few bucks a day (sound like us home miners right?) but point is they'll keep on doing it!!! Difficulty will never drop from one adjustment to the next... maybe the hash rate will drop here and there but it will NEVER drop mark my words!!! I have literally seen millions of ASIC chips just waiting to be bought up... Since nobody wants them & they have so much supply they're mining themselves and doing huge discounts for big purchases! But wait, who didn't know this already???
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
What to bet 10 btc on this? You win if diff doesn't go down (on 1 adjustment) over the next 2 years. Otherwise I win.
LMFAO!!! Send the 10coins to 1FJcA7cCLeFiEAeMg4QPKfSqTt2nQvT5SM but pleaseee you wouldn't dare bet! I love how you say 2 yrs because you're hoping the mining reward going down to 12.5btc will have a huge effect on large mining operations, not realizing they'll be far past the breakeven point at that time & they could care less what happens to BTC! Hence why they're bombing the price down in front of your eyes everyday!!! & you think $1.8m in mining revenue PER DAY will stop or slow down why?! They're the ones dumping the coins! They can still do it at a profit when BTC is sub $100
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
What to bet 10 btc on this? You win if diff doesn't go down (on 1 adjustment) over the next 2 years. Otherwise I win.
That's easy money, man.
No moron would put up 10 BTC on that happening.At least I don't think anyone would. If he somehow does man up on the bet, I'd bookmark this page for sure!
P.S. - There's been 8 difficulty decreases in the 5 year history of Bitcoin. Just throwing that out there.
All were pre-ASIC, no?
Yup, xstr8guy, most of those decreases were pre-Asic, but what I'm alluding to is what Soros Shorts is pointing out which will probably happen in the latter half of 2015 or early to mid part of 2016.
Those industrial mining farms won't be able to keep up electrical, cooling, and hosting costs because they'll be mining at a loss at some point. They'll eventually have to scale down operations substantially, or completely shut down.
It's basically like how most home miners are shutting down this year, it'll happen to the industrial miner in the near future as well. Just because they have more capital, doesn't mean bleeding money daily is acceptable no matter what the scale.
i like mining + good heat in winter here [whch is really cold]
my last winter was superb hot but mostly due to GPUs that used scrypt at that point.
now im into x11 hence EXCL
my last winter was superb hot but mostly due to GPUs that used scrypt at that point.
now im into x11 hence EXCL
Yup love mining in the winter the noise also helps me sleep lol.
i like mining + good heat in winter here [whch is really cold]
my last winter was superb hot but mostly due to GPUs that used scrypt at that point.
now im into x11 hence EXCL
my last winter was superb hot but mostly due to GPUs that used scrypt at that point.
now im into x11 hence EXCL
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
What to bet 10 btc on this? You win if diff doesn't go down (on 1 adjustment) over the next 2 years. Otherwise I win.
That's easy money, man.
No moron would put up 10 BTC on that happening.At least I don't think anyone would. If he somehow does man up on the bet, I'd bookmark this page for sure!
P.S. - There's been 8 difficulty decreases in the 5 year history of Bitcoin. Just throwing that out there.
All were pre-ASIC, no?
Mining companies either turn machines off when they are no longer making a profit, or the machines get shut down by the utility company when they cannot pay their electric bills. Only governments can run deficits indefinitely without going bankrupt.
They may decide to shove $20 bills into machines instead of pulling $20 bills out of them for some period hoping BTC prices will increase eventually and bail them out, but I think we all know what a fools game that is. It's just a bad cycle of payday loans that ends in tears.
They may decide to shove $20 bills into machines instead of pulling $20 bills out of them for some period hoping BTC prices will increase eventually and bail them out, but I think we all know what a fools game that is. It's just a bad cycle of payday loans that ends in tears.
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
What to bet 10 btc on this? You win if diff doesn't go down (on 1 adjustment) over the next 2 years. Otherwise I win.
That's easy money, man.
No moron would put up 10 BTC on that happening.At least I don't think anyone would. If he somehow does man up on the bet, I'd bookmark this page for sure!
P.S. - There's been 8 difficulty decreases in the 5 year history of Bitcoin. Just throwing that out there.
All were pre-ASIC, no?
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
What to bet 10 btc on this? You win if diff doesn't go down (on 1 adjustment) over the next 2 years. Otherwise I win.
That's easy money, man.
No moron would put up 10 BTC on that happening.At least I don't think anyone would. If he somehow does man up on the bet, I'd bookmark this page for sure!
P.S. - There's been 8 difficulty decreases in the 5 year history of Bitcoin. Just throwing that out there.
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
What to bet 10 btc on this? You win if diff doesn't go down (on 1 adjustment) over the next 2 years. Otherwise I win.
It maybe small earnings, but home miners that are in the community would plug in, to support the Bitcoin network once the large scale miner shuts down.
I doubt all large scale miners would shut down. A few, perhaps even many would shut down, but the most efficient ones would survive, perhaps running well below capacity. I don't see how home miners could ever hope to recapture a large share of the network hashing power, unless the PoW algorithm is changed.
If difficulty decreases to the point that you could earn a few BTC's, why wouldn't you plug back in?
It isn't just a function of difficulty and price, large miners have economies of scale that a home miner cannot beat. Lower energy costs, volume discounts or internal production, larger amounts of old hardware to switch back on.
We're talking about when costs exceed earning, probably sometime in 2015 or 2016. Once the large shops, and several pentahash gets shut down, difficulty will drop by a large order of magnitude.
It maybe small earnings, but home miners that are in the community would plug in, to support the Bitcoin network once the large scale miner shuts down.
If difficulty decreases to the point that you could earn a few BTC's, why wouldn't you plug back in?
It isn't just a function of difficulty and price, large miners have economies of scale that a home miner cannot beat. Lower energy costs, volume discounts or internal production, larger amounts of old hardware to switch back on.
I could easily see difficulty drop in the not so distant future, once electrical and operation costs exceed miner earnings for the large mining farms.
The big boys will be forced to shut down or scale operations, we'll see a negative difficulty jump, network hash rate will flat line or lower, and the home miners will jump in again to confirm the transactions.
Could easily see this cycle happen around 2015-2016, probably closer to the halving.
The big boys will be forced to shut down or scale operations, we'll see a negative difficulty jump, network hash rate will flat line or lower, and the home miners will jump in again to confirm the transactions.
Could easily see this cycle happen around 2015-2016, probably closer to the halving.
The bolded part is the only thing in this post that strikes me as improbable. Why would home miners jump back in?
If difficulty decreases to the point that you could earn a few BTC's, why wouldn't you plug back in?
I could easily see difficulty drop in the not so distant future, once electrical and operation costs exceed miner earnings for the large mining farms.
The big boys will be forced to shut down or scale operations, we'll see a negative difficulty jump, network hash rate will flat line or lower, and the home miners will jump in again to confirm the transactions.
Could easily see this cycle happen around 2015-2016, probably closer to the halving.
The big boys will be forced to shut down or scale operations, we'll see a negative difficulty jump, network hash rate will flat line or lower, and the home miners will jump in again to confirm the transactions.
Could easily see this cycle happen around 2015-2016, probably closer to the halving.
The bolded part is the only thing in this post that strikes me as improbable. Why would home miners jump back in?
I could easily see difficulty drop in the not so distant future, once electrical and operation costs exceed miner earnings for the large mining farms.
The big boys will be forced to shut down or scale operations, we'll see a negative difficulty jump, network hash rate will flat line or lower, and the home miners will jump in again to confirm the transactions.
Could easily see this cycle happen around 2015-2016, probably closer to the halving.
The big boys will be forced to shut down or scale operations, we'll see a negative difficulty jump, network hash rate will flat line or lower, and the home miners will jump in again to confirm the transactions.
Could easily see this cycle happen around 2015-2016, probably closer to the halving.
In my opinion, we will likely see some small drops in diff in the near future,
but the general trend is up.
but the general trend is up.
IMHO, we will not see a "drop" until the current generation of mining equipment is obsolete. By obsolete I mean producing less than 1/10,000 BTC/THS/day.
Facts : Difficulty will never lower.
And what is this "fact" based on? Your superior intuition, I guess In my opinion, we will likely see some small drops in diff in the near future,
but the general trend is up.
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
Actually Difficulty has lowered in the past:
Code:
Date Difficulty Change Hashrate
Sep 13 2014 29,829,733,124 8.75% 213,529,547 GH/s
Aug 31 2014 27,428,630,902 15.03% 196,341,788 GH/s
Aug 19 2014 23,844,670,039 20.86% 170,686,797 GH/s
Aug 07 2014 19,729,645,941 5.3% 141,230,307 GH/s
Jul 25 2014 18,736,441,558 8.08% 134,120,673 GH/s
Jul 12 2014 17,336,316,979 3.08% 124,098,191 GH/s
Jun 29 2014 16,818,461,371 24.93% 120,391,236 GH/s
Jun 17 2014 13,462,580,115 14.51% 96,368,902 GH/s
Jun 05 2014 11,756,551,917 12.44% 84,156,677 GH/s
May 24 2014 10,455,720,138 18.1% 74,844,960 GH/s
May 12 2014 8,853,416,309 10.66% 63,375,223 GH/s
Apr 29 2014 8,000,872,136 14.64% 57,272,474 GH/s
Apr 17 2014 6,978,842,650 14.04% 49,956,502 GH/s
Apr 05 2014 6,119,726,089 22.23% 43,806,706 GH/s
Mar 24 2014 5,006,860,589 17.8% 35,840,504 GH/s
Mar 12 2014 4,250,217,920 11.39% 30,424,245 GH/s
Feb 28 2014 3,815,723,799 21.92% 27,314,015 GH/s
Feb 16 2014 3,129,573,175 19.39% 22,402,357 GH/s
Feb 05 2014 2,621,404,453 19.49% 18,764,744 GH/s
Jan 24 2014 2,193,847,870 22.59% 15,704,175 GH/s
Jan 12 2014 1,789,546,951 26.16% 12,810,076 GH/s
Jan 01 2014 1,418,481,395 20.12% 10,153,885 GH/s
Dec 21 2013 1,180,923,195 30.01% 8,453,378 GH/s
Dec 10 2013 908,350,862 28.41% 6,502,229 GH/s
Nov 29 2013 707,408,283 16.07% 5,063,826 GH/s
Nov 17 2013 609,482,680 19.29% 4,362,847 GH/s
Nov 05 2013 510,929,738 30.7% 3,657,378 GH/s
Oct 25 2013 390,928,788 46.02% 2,798,377 GH/s
Oct 16 2013 267,731,249 41.45% 1,916,495 GH/s
Oct 06 2013 189,281,249 27.19% 1,354,928 GH/s
Sep 25 2013 148,819,200 32.13% 1,065,289 GH/s
Sep 14 2013 112,628,549 29.56% 806,227 GH/s
Sep 04 2013 86,933,018 32.22% 622,291 GH/s
Aug 24 2013 65,750,060 29.40% 470,657 GH/s
Aug 13 2013 50,810,339 35.88% 363,715 GH/s
Aug 03 2013 37,392,766 19.63% 267,668 GH/s
Jul 22 2013 31,256,961 19.47% 223,746 GH/s
Jul 11 2013 26,162,876 22.63% 187,281 GH/s
Jun 29 2013 21,335,329 10.32% 152,724 GH/s
Jun 16 2013 19,339,258 23.92% 138,436 GH/s
Jun 05 2013 15,605,633 28.41% 111,709 GH/s
May 25 2013 12,153,412 8.64% 86,998 GH/s
May 12 2013 11,187,257 11.03% 80,082 GH/s
Apr 30 2013 10,076,293 12.28% 72,129 GH/s
Apr 17 2013 8,974,296 16.96% 64,241 GH/s
Apr 05 2013 7,673,000 14.59% 54,925 GH/s
Mar 24 2013 6,695,826 38.13% 47,931 GH/s
Mar 14 2013 4,847,647 10.98% 34,701 GH/s
Mar 01 2013 4,367,876 19.63% 31,266 GH/s
Feb 18 2013 3,651,012 11.47% 26,135 GH/s
Feb 05 2013 3,275,465 10.33% 23,447 GH/s
Jan 23 2013 2,968,775 -8.64% 21,251 GH/s
Jan 08 2013 3,249,550 9.06% 23,261 GH/s
Dec 26 2012 2,979,637 -11.59% 21,329 GH/s
Dec 10 2012 3,370,182 -2.00% 24,125 GH/s
Nov 26 2012 3,438,909 2.08% 24,617 GH/s
Nov 12 2012 3,368,767 1.95% 24,115 GH/s
Oct 30 2012 3,304,356 7.55% 23,654 GH/s
Oct 16 2012 3,072,322 0.58% 21,993 GH/s
Oct 03 2012 3,054,628 6.65% 21,866 GH/s
Sep 19 2012 2,864,141 6.31% 20,502 GH/s
Sep 06 2012 2,694,048 10.38% 19,285 GH/s
Aug 25 2012 2,440,643 11.40% 17,471 GH/s
Aug 12 2012 2,190,866 7.57% 15,683 GH/s
Jul 30 2012 2,036,671 9.12% 14,579 GH/s
Jul 17 2012 1,866,391 6.56% 13,360 GH/s
Jul 04 2012 1,751,455 1.44% 12,537 GH/s
Jun 20 2012 1,726,567 9.06% 12,359 GH/s
Jun 07 2012 1,583,178 -0.50% 11,333 GH/s
May 24 2012 1,591,075 -8.20% 11,389 GH/s
May 09 2012 1,733,208 14.89% 12,407 GH/s
Apr 27 2012 1,508,590 -4.39% 10,799 GH/s
Apr 12 2012 1,577,913 -2.99% 11,295 GH/s
Mar 29 2012 1,626,553 8.56% 11,643 GH/s
Mar 16 2012 1,498,294 0.09% 10,725 GH/s
Mar 02 2012 1,496,979 8.77% 10,716 GH/s
Feb 18 2012 1,376,302 -0.24% 9,852 GH/s
Feb 04 2012 1,379,647 5.50% 9,876 GH/s
It's not likely, but doesn't mean it's impossible either.
Nobody is mentioning the past... BTC was 1,100 in the past lol point is difficulty will NEVER drop now ever.
This coming from a guy who just ordered 4 S4's
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
Actually Difficulty has lowered in the past:
Code:
Date Difficulty Change Hashrate
Sep 13 2014 29,829,733,124 8.75% 213,529,547 GH/s
Aug 31 2014 27,428,630,902 15.03% 196,341,788 GH/s
Aug 19 2014 23,844,670,039 20.86% 170,686,797 GH/s
Aug 07 2014 19,729,645,941 5.3% 141,230,307 GH/s
Jul 25 2014 18,736,441,558 8.08% 134,120,673 GH/s
Jul 12 2014 17,336,316,979 3.08% 124,098,191 GH/s
Jun 29 2014 16,818,461,371 24.93% 120,391,236 GH/s
Jun 17 2014 13,462,580,115 14.51% 96,368,902 GH/s
Jun 05 2014 11,756,551,917 12.44% 84,156,677 GH/s
May 24 2014 10,455,720,138 18.1% 74,844,960 GH/s
May 12 2014 8,853,416,309 10.66% 63,375,223 GH/s
Apr 29 2014 8,000,872,136 14.64% 57,272,474 GH/s
Apr 17 2014 6,978,842,650 14.04% 49,956,502 GH/s
Apr 05 2014 6,119,726,089 22.23% 43,806,706 GH/s
Mar 24 2014 5,006,860,589 17.8% 35,840,504 GH/s
Mar 12 2014 4,250,217,920 11.39% 30,424,245 GH/s
Feb 28 2014 3,815,723,799 21.92% 27,314,015 GH/s
Feb 16 2014 3,129,573,175 19.39% 22,402,357 GH/s
Feb 05 2014 2,621,404,453 19.49% 18,764,744 GH/s
Jan 24 2014 2,193,847,870 22.59% 15,704,175 GH/s
Jan 12 2014 1,789,546,951 26.16% 12,810,076 GH/s
Jan 01 2014 1,418,481,395 20.12% 10,153,885 GH/s
Dec 21 2013 1,180,923,195 30.01% 8,453,378 GH/s
Dec 10 2013 908,350,862 28.41% 6,502,229 GH/s
Nov 29 2013 707,408,283 16.07% 5,063,826 GH/s
Nov 17 2013 609,482,680 19.29% 4,362,847 GH/s
Nov 05 2013 510,929,738 30.7% 3,657,378 GH/s
Oct 25 2013 390,928,788 46.02% 2,798,377 GH/s
Oct 16 2013 267,731,249 41.45% 1,916,495 GH/s
Oct 06 2013 189,281,249 27.19% 1,354,928 GH/s
Sep 25 2013 148,819,200 32.13% 1,065,289 GH/s
Sep 14 2013 112,628,549 29.56% 806,227 GH/s
Sep 04 2013 86,933,018 32.22% 622,291 GH/s
Aug 24 2013 65,750,060 29.40% 470,657 GH/s
Aug 13 2013 50,810,339 35.88% 363,715 GH/s
Aug 03 2013 37,392,766 19.63% 267,668 GH/s
Jul 22 2013 31,256,961 19.47% 223,746 GH/s
Jul 11 2013 26,162,876 22.63% 187,281 GH/s
Jun 29 2013 21,335,329 10.32% 152,724 GH/s
Jun 16 2013 19,339,258 23.92% 138,436 GH/s
Jun 05 2013 15,605,633 28.41% 111,709 GH/s
May 25 2013 12,153,412 8.64% 86,998 GH/s
May 12 2013 11,187,257 11.03% 80,082 GH/s
Apr 30 2013 10,076,293 12.28% 72,129 GH/s
Apr 17 2013 8,974,296 16.96% 64,241 GH/s
Apr 05 2013 7,673,000 14.59% 54,925 GH/s
Mar 24 2013 6,695,826 38.13% 47,931 GH/s
Mar 14 2013 4,847,647 10.98% 34,701 GH/s
Mar 01 2013 4,367,876 19.63% 31,266 GH/s
Feb 18 2013 3,651,012 11.47% 26,135 GH/s
Feb 05 2013 3,275,465 10.33% 23,447 GH/s
Jan 23 2013 2,968,775 -8.64% 21,251 GH/s
Jan 08 2013 3,249,550 9.06% 23,261 GH/s
Dec 26 2012 2,979,637 -11.59% 21,329 GH/s
Dec 10 2012 3,370,182 -2.00% 24,125 GH/s
Nov 26 2012 3,438,909 2.08% 24,617 GH/s
Nov 12 2012 3,368,767 1.95% 24,115 GH/s
Oct 30 2012 3,304,356 7.55% 23,654 GH/s
Oct 16 2012 3,072,322 0.58% 21,993 GH/s
Oct 03 2012 3,054,628 6.65% 21,866 GH/s
Sep 19 2012 2,864,141 6.31% 20,502 GH/s
Sep 06 2012 2,694,048 10.38% 19,285 GH/s
Aug 25 2012 2,440,643 11.40% 17,471 GH/s
Aug 12 2012 2,190,866 7.57% 15,683 GH/s
Jul 30 2012 2,036,671 9.12% 14,579 GH/s
Jul 17 2012 1,866,391 6.56% 13,360 GH/s
Jul 04 2012 1,751,455 1.44% 12,537 GH/s
Jun 20 2012 1,726,567 9.06% 12,359 GH/s
Jun 07 2012 1,583,178 -0.50% 11,333 GH/s
May 24 2012 1,591,075 -8.20% 11,389 GH/s
May 09 2012 1,733,208 14.89% 12,407 GH/s
Apr 27 2012 1,508,590 -4.39% 10,799 GH/s
Apr 12 2012 1,577,913 -2.99% 11,295 GH/s
Mar 29 2012 1,626,553 8.56% 11,643 GH/s
Mar 16 2012 1,498,294 0.09% 10,725 GH/s
Mar 02 2012 1,496,979 8.77% 10,716 GH/s
Feb 18 2012 1,376,302 -0.24% 9,852 GH/s
Feb 04 2012 1,379,647 5.50% 9,876 GH/s
It's not likely, but doesn't mean it's impossible either.
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
Hmmm.... i feel that individuals will find it difficult to keep their mining rigs going. They will eventually pull out and sell off their miners. The price of BTC is going down again, i cant really see a ROI for folks who got in the last 3 months or so. Really sorry for them
. Btc price drops 18%
Difficulty jumps 18%
Your mining profit got shafted 36% ...
But who cares, keep donating money to hardware vendors, they need your help.
Difficulty jumps 18%
Your mining profit got shafted 36% ...
But who cares, keep donating money to hardware vendors, they need your help.
Actually profit drop more then 36% if expenses is included
.actually look like diff jump will be 20%! ..... not good...
but who gives a shit, i need to help out all the manufacturers! Hooray 20 Bitmain S4 is ordered!
Definitely a stare down with large mining operations.
Who will be first to blink as they drive the hash rate as far skyward with their cheap power mining operations.
Welcome to the world of do-as-you-will capitalism.
Who will be first to blink as they drive the hash rate as far skyward with their cheap power mining operations.
Welcome to the world of do-as-you-will capitalism.
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
Facts : Difficulty will never lower.
Shouldn't it go the other way? If BTC price drops, more people turn off their miners which leads to lower difficulty? Well, i guess greed is all consuming
And heat for the winter
Haha ye, so smart donating your money to the scammers instead of just buying coins. At least you guys have those nice fan noises to comfort you in your sorrow.
Btc price drops 18%
Difficulty jumps 18%
Your mining profit got shafted 36% ...
But who cares, keep donating money to hardware vendors, they need your help.
Difficulty jumps 18%
Your mining profit got shafted 36% ...
But who cares, keep donating money to hardware vendors, they need your help.
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