Topic: Network hashrate to triple in the next 45 days? How?? - page 2. (Read 4560 times)

What? The next difficulty won't be anything drastic, and we all know it's always rising..but to rise 100% as it has in the past do you realise how much hash power would need to be added?

Those 3TH or likely 4TH 20nm rigs will be the new norm, it's the stuff we all have now and that is about to roll out that won't be so sparky anymore....unless of course BTC prices rise significantly again...which will make slower rigs viable.

If a 3 or 4TH rig isn't worth shit when it's the ONLY such 20nm rig available next march or april..mining is dead , simple as that.

The next network difficulty will make you less bitcoins so those 3 th/s wont be worth shit by the time they deliver.

Who cares now? I expected my rig to be useless in january but what happened was much better for me. Hashfast (lol at that name) are in effect delivering a Jupiter, old tech, same speed ...way too late to come close to break even, but just in time for 2400 big KNC rigs to come into the game in spring giving hashfast owners a month or so to recoup their investment.

Time is everything now, I was mad at KNC for the bullshitting over a 2 week delay on delivery which in the grand scheme is nothing compared to other companies...but that was 14 day and a diff increase of about 100% leaving me on .5 btc a day for a short while...cost me at least 7 btc that delay of 2 weeks at the prime time. Almost what it's mined since. 

As for the new rigs getting bigger...IMO 2kw per rig is already showing the way it's going. Industrial. Selling rigs won't make sense, in fact I can't see all the companies we know now existing in a year. BFL for example..why would they? I can see private investors getting into mining with deep pockets, not buying rigs, buying the people to make their own and using them. IT's possible to get tax breaks, grants, alsorts of money recouped from your running costs,..and it pays back super fast. Even the rigs are attractive to sell when no longer profitable enough.
We'll see if/when  it happens.

I personally think Hashfast are going to make knc miner owners lifes a living hell
and jupiters will be the equivilent of what usb stick miners is now,its going to get really tough this month

No, waste of money, because what all these people are doing is buying mining equipment and the keep building until bitcoin is no longer in mining stage, and they will have more money wasted than bitcoin because of network difficulty.

Waste a lot of space. 

Lets say I have a huge mining rig, you know warehouse size compromised of 2,000 usb miners, what will that do in the next 10 years?

Been that way a while now, depending on how you look at it, or more accurately if you weigh buying BTC against buying a rig to mine them.

You'd imagine my KNC merc costing 2k dollars and mining 8 BTC since late Oct was a profit wouldn't you? Fact is, that was 20 BTC back then...so the way I look at it is a cash profit (at the moment), but in BTC it's unlikely it would ever break even. Worse, it was supposed to mine at 100GH and it's sat here at 145 roughly since the hour I got it. If it had worked out as most of us hoped, BTC would be worth 200ish and it would have mined 1/3 less of them. Either way, I'd rather have 20 BTC wouldn't you..and no months of hoping the rig I'd bought would ever arrive or work when it did?

A KNC Neptune would need to mine roughly 10 - 15 BTC to break even when it arrives...at 4TH maybe it will have a better chance ? Even a huge increase in the hashpower added to the network won't do the damage we've seen so far...imagine how many huge rigs would have to start hashing to double what we see today? Not going to happen every month is it?

Rigs like the Neptune look to draw about 2KW too...so large numbers of those in domestic situations isn't easy on the wiring.

I think that for a while at least these bigger 20nm rigs will be nice for those of us with more domestic gear, purely because they will hold value and be something affordable on Ebay...and the only thing worth running at all. Not everyone can afford of wish to sink 10k plus into the bitcoin gamble. A grand or two..maybe.

Yes, Donald Trump probaly has the biggest warehouse of miners lol

It's big-time players now, bud.  If you don't have a couple hundred grand to throw around, it's probably best to buy it.

Or Scrypt mine...  no ASICs... then it will be CPU mining... now that hobbyists have been created there is no end to the mining culture and the land of the forever altcoins.

Yes, I think bitcoin mining should stop because no one is really making profit.

I'm thinking it will be something similar to that, but maybe 5 15-20% jumps and then a couple of huge ones as the 28nm ASICs that are pushing 2-5TH/s each hit the market.  Looks to be a rough year for the ASIC miner.  Scrypt is going to get overloaded... which alt-coin wins this year? Litecoin, something else?  Hmmmm

It's very possible that there is a lull in difficulty for say a month.  But expect a huge increase as the next stuff comes up.  Like 15% increase for three jumps and then 100% increase for the next jump.

If half the shit I hear about BFL on here is true, it's only a matter of time before they get shut down.

So, what is butterfly labs doing know, well let me tell you, people that are dumb and keep theyre company up by buying from them and waiting half a year to receive their miner which wont be worth it since the difficulty rose up.

Yup. Almost time to list my Cube on eGay.

The email I had a few hours ago from Cointerra says different. Chips and boards..no rigs. Pretty pics of the boards and chips..not a finished machine in sight. They would mention that wouldn't they?

Worry about the KNC rigs, early and faster seems likely so 2400 x 4 or 5 TH rigs about march. That's pretty likely

The first Hashfast and cointerra miners are starting to go out that's why.

https://twitter.com/HashFast/status/418106414280609793

I never said it would decrease... I said it would be nice if it would decrease in difficulty but that I don't think we will see that happening before all 21 million Bitcoins have been mined.

The only point of this thread was that people keep saying ASIC X will never ROI, and they are basing this on the continued climbing difficulty.  I am trying to get more information on how the difficulty can continue to climb at the %rate that it has been the last 6 months.  To that, I say that instead of the 30-40% increases we have been seeing for most of the last quarter will be halved starting with the next difficulty jump that will happen tomorrow.

Granted, the likelihood of a lot of miners being profitable is a tossup because we can't effectively calculate what the difficulty will be in March/April of 2014 however, even if the difficulty only increases 15% over the next 10 retargets we are looking at a network hashrate of 40+ PH/s by the end of March.  I don't know how this can be possible and feel that the difficulty climbs are going to have to slow down soon - not stop. If the average difficulty jump goes down from 28.75% to 14% for a few months, then it is very possible for a lot of the current ASIC devices to ROI.

Although, after all of that is said, I thought this was already happening in November when we saw consecutive retargets of <20%...

Wow, you're saying that the network might actually decrease in difficulty (possible in the blockchain?), if it even stays the same for the next month, and you called it, that is like world wide, front page breaking news. Mr. Exclusive Damnsammit