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Topic: Next difficulty ~4,000,000,000? Tracking difficulty since 145,000,000. - page 17. (Read 32501 times)

legendary
Activity: 980
Merit: 1040
Difficulty is increased because of added new mining devices.
As I know - mining devices now are produced and shipped in big quantity only by BFL.
Last 4 increases all were around 30% (29.4% - 32.22%). This coincidence (almost same percentage increase 4 times in a row) never happened before.

Does it mean that BFL specially ships devices not in their full potential, but in specially calculated quantities to keep this 30% increase ratio?
And, possibly, all who are now still waiting for their BFL device - could have them delivered month ago if only BFL would ship all at their full potential?

BFL isnt the only one shipping, Bitfury's are selling like hot cakes too.
As for BFL doing this on purpose.. perhaps. Artificially keeping difficulty low would have given them a lot longer to sell more preorders at higher prices. It would also cost them customers and credibility but Im quite willing to assume overall its a net win for them. Then again there is Hanlon's razor: Never attribute to malice that which is adequately explained by stupidity. Or in this case, incompetence. Im just on the fence whether or not incompetence alone explaines this kind of shipping clusterfuck.
newbie
Activity: 56
Merit: 0
Difficulty is increased because of added new mining devices.
As I know - mining devices now are produced and shipped in big quantity only by BFL.

What? Isn't BFL the one that screwed everyone over?
Nope. They were wanking for more than a year, but now everything is somehow in delivery stage. Last time I have checked - everything from year 2012 is already shipped to customers, so they have only nine months of orders to deliver Smiley . And they constantly ship devices, all this is legitimate, nobody is screwed. Except fact that nobody who will receive now their device will make ROI. I am sad for guys who ordered 500GH/s device :/

But still, they have huuuge amount of TH/s to deliver, and they can keep difficulty increase on any level they want. This sucks.
legendary
Activity: 3640
Merit: 1571
Difficulty is increased because of added new mining devices.
As I know - mining devices now are produced and shipped in big quantity only by BFL.

What? Isn't BFL the one that screwed everyone over?
newbie
Activity: 56
Merit: 0
Difficulty is increased because of added new mining devices.
As I know - mining devices now are produced and shipped in big quantity only by BFL.
Last 4 increases all were around 30% (29.4% - 32.22%). This coincidence (almost same percentage increase 4 times in a row) never happened before.

Does it mean that BFL specially ships devices not in their full potential, but in specially calculated quantities to keep this 30% increase ratio?
And, possibly, all who are now still waiting for their BFL device - could have them delivered month ago if only BFL would ship all at their full potential?
legendary
Activity: 3640
Merit: 1571
Phew, 149M.  My daily income dropped from a feeble BTC0.13 to a even more feeble BTC0.9.  Cry

That would be an increase then Smiley
legendary
Activity: 1321
Merit: 1007
Its better to buy Bitcoin, wait for it to appreciate, and then buy a mining rig. So technically you spent less USD on the rig, and hardware power $/terrahs will also get cheaper over time
legendary
Activity: 980
Merit: 1040
Fun fact. Even if hashrate remains stable at the current ~1200TH, so BFL, AM, BF and others stop shipping and deploying, next difficulty will be ~168M.
But its not so much the next one Im looking forward to, as the one after that. Assuming KnC stays roughly on target.
hero member
Activity: 1246
Merit: 501
Phew, 149M.  My daily income dropped from a feeble BTC0.13 to a even more feeble BTC0.9.  Cry
hero member
Activity: 618
Merit: 500
a clockwork miner
How accurate would you say that is?
We've just hit 148.819.199!

Well, pretty accurate then...
legendary
Activity: 1680
Merit: 1014
We've just hit 148.819.199!
legendary
Activity: 1680
Merit: 1014
I was happy mining with my three 7970s last year, pulling 500W from the wall, now I pull >5000W with the ASICs.

Network decentralisation is measured by the number of pools/solo miners, not by the number of ASICs.

However, the more hashing power is pushed into the network, the harder it is to mount a 51% attack for any single party, so yes, security has grown.

As for power. I too had 3x7970 + 3x6770 + 6570, pulling ~1125Watts (3x250+3x95+90) for 2400MHs
I now have 145 BEs, which cumulatively pull ~370W for 48575MH/s, while still generating more coins than the GPUs did at the beginning of this year.

How many ASICs have you mounted to pull 5000W?  Shocked
legendary
Activity: 2702
Merit: 1468
Miners have fucked themselves. So much for electricity savings of the ASICS and decentralization of the network.

Same idea as electric cars.  Suppose to solve a problem, instead it creates more, different problems.

Electricity draw by ASICs went through the roof, decentralization?  Well, look at what Avalon, ASICMiner and now bitfury has done to
decentralize the network.

I was happy mining with my three 7970s last year, pulling 500W from the wall, now I pull >5000W with the ASICs.
Is the network any better, safer?
legendary
Activity: 1680
Merit: 1014
We'll hit 148.255.918 today, so the OP's projection was not that much off. What's next? 200.000.000?  Cry
legendary
Activity: 980
Merit: 1040
They will cost about the same as an electrical heater, and earn you about as much Smiley
member
Activity: 88
Merit: 10
looking forward for winter 2014/15. Ill have free power and it looks like you'll get aisics for the scrap value Roll Eyes
legendary
Activity: 980
Merit: 1040
So much for electricity savings of the ASICS and decentralization of the network.

"Electricity savings" per GH is of course still true. But if anyone thought migrating from GPUs & FPGA's to ASICs would lower the overal's networks electricity use, then they didnt think it through. Its quite the opposite: since ASICs are so cheap to produce, the bulk of the miners cost would inevitably  shift from hardware purchase / write off to electricity. GPU's and FPGA were never going to become as cheap "per watt" as bitcoin asics eventually will,  because they are in demand for other applications.

As for decentralization, Im not sure we are headed towards a problem in that regard. At least not in the long run, in the short run it might be possible for someone to grab a non trivial % of the network, but since pretty much all those 28nm chips are primarily being sold to miners, Im not too worried.
hero member
Activity: 728
Merit: 500
Miners have fucked themselves. So much for electricity savings of the ASICS and decentralization of the network.
legendary
Activity: 1652
Merit: 1016
Cant wait to read the sob stories of monarch customers in a few months.

LOL  Cheesy Gotta love those sob stories. Gonna be plenty.
legendary
Activity: 980
Merit: 1040
Getting crazier by the minute. According to blockchain we are at ~1300 TH now. 60 days ago we were barely over 200 TH
https://blockchain.info/charts/hash-rate?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

The scary thing is that this is before the real onslaught of 28nm asics has even begun.
Cant wait to read the sob stories of monarch customers in a few months.

legendary
Activity: 966
Merit: 1052
http://bitcoindifficulty.com is now showing a similar number. This is immense, 112-149..
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