nomatter how difficult changes the revenue of mining will be around avg power cost of all miners
because currency rate will change
Is that correct?
because currency rate will change
Is that correct?
I think it is the other way round.
If the cost of electricity to mine coins is greater than the value of the coins, some miners stop mining and the difficulty goes up.
If the cost of electricity to mine coins is less than the value of the coins, some people start mining or add to their mining capacity and the difficulty goes down.
Currently, the difficulty is such that mining is profitable, but probably not so profitable that it would be sensible to buy new hardware for mining.
You seem to have the difficulty adjustment the wrong way. If less hashrate on network, difficulty goes down and not up.
So if some miners stop and it directly could relate to lower network hashrate then the difficulty will eventually lower and vica versa.
You've got it exactly right.. peeps, go back and read up what this BTC is all about and specifically about BTC generation
and you all expect the difficulty to go down, just because some miners stop mining,
i doubt that'll happen.
i doubt that'll happen.
It'll take a LOT of miners stopping before the difficulty decreases, therefore I doubt it will for a very long time, if ever. People are stubborn, and when it come to making money they can also be stubborn to the point of stupidity.
I mean, there are people out there making money in those virtual worlds, and because it's a game/virtual world they seem quite happy slaving away for just a few cents an hour !! mad !
