Author

Topic: The biggest difficulty jump I have ever seen (Read 7891 times)

sr. member
Activity: 314
Merit: 250
December 13, 2013, 06:18:38 AM
#70
A whopping 46% raise, only before the first rally to $30 I can find such large jump in difficulty Undecided
The largest % raise in history was on July 13, 2010 when the difficulty rose from 45 to 182 (+304.44%)

The highest diif change was this October and was because of Knc first batch.
You can the historical diff jumps here http://bitcoinwisdom.com/bitcoin/difficulty (scroll down)
legendary
Activity: 1386
Merit: 1053
Please do not PM me loan requests!
December 11, 2013, 04:20:50 PM
#69
A whopping 46% raise, only before the first rally to $30 I can find such large jump in difficulty Undecided
The largest % raise in history was on July 13, 2010 when the difficulty rose from 45 to 182 (+304.44%)
newbie
Activity: 56
Merit: 0
December 11, 2013, 04:08:09 PM
#68
The difficulty is insane recently. I've seen 30% increases regularly.
full member
Activity: 154
Merit: 100
November 27, 2013, 03:20:47 AM
#67
You should wait for another difficulty jump  Smiley
newbie
Activity: 5
Merit: 0
November 17, 2013, 09:10:21 PM
#66
Price may fall down highly and thousands of miners become bankrupt.
Of course speculators become bankrupt too ..... but it is a pity for the miners.
full member
Activity: 154
Merit: 100
November 17, 2013, 01:10:05 PM
#65
After this difficulty jump, hash fast is going to deliver at least 500 TH/s of machines... now guess the difficulty jump ....


KNC will be delivering ~ 2 PH/s in Nov as well.  Cointerra still says on track for Dec for 2 PH/s (although I honestly think that will slip to Jan but still that is another 2 PH/s in either Dec or Jan). 

We are in a lull before the storm. 

Oh man, this is not good. What if they all deliver at the same time we could see 100% difficulty hike....


You guys are talking just about difficulty jump, WHAT is about price jump?!?!?!


Price jumped 350% in 3 weeks, what will hapen from now on
sr. member
Activity: 378
Merit: 250
November 17, 2013, 08:23:03 AM
#64
Another hike coming in 50 minute

Bitcoin Difficulty:   510,929,738
Estimated Next Difficulty:   608,655,757 (+19.13%)
Adjust time:   After 7 Blocks, About 54.4 minutes

Looks like the difficulty has slowed down to 19%, is this a good sign?
full member
Activity: 214
Merit: 100
November 17, 2013, 05:33:27 AM
#63
After this difficulty jump, hash fast is going to deliver at least 500 TH/s of machines... now guess the difficulty jump ....


KNC will be delivering ~ 2 PH/s in Nov as well.  Cointerra still says on track for Dec for 2 PH/s (although I honestly think that will slip to Jan but still that is another 2 PH/s in either Dec or Jan). 

We are in a lull before the storm. 

Oh man, this is not good. What if they all deliver at the same time we could see 100% difficulty hike....
donator
Activity: 1218
Merit: 1079
Gerald Davis
November 16, 2013, 10:37:35 PM
#62
After this difficulty jump, hash fast is going to deliver at least 500 TH/s of machines... now guess the difficulty jump ....


KNC will be delivering ~ 2 PH/s in Nov as well.  Cointerra still says on track for Dec for 2 PH/s (although I honestly think that will slip to Jan but still that is another 2 PH/s in either Dec or Jan). 

We are in a lull before the storm. 
hero member
Activity: 868
Merit: 1000
November 16, 2013, 10:35:40 PM
#61
After this difficulty jump, hash fast is going to deliver at least 500 TH/s of machines... now guess the difficulty jump ....
full member
Activity: 226
Merit: 100
November 16, 2013, 08:08:35 PM
#60
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

If you have free electricity, don't go for ASIC. Go for primecoin..

I believe it should be better to do GPU mining on Litecoin right?
legendary
Activity: 1008
Merit: 1000
November 16, 2013, 07:42:02 PM
#59
The jump is surprisingly low this time.

Bitcoin Difficulty:   510,929,738
Estimated Next Difficulty:   602,706,748 (+17.96%)

Just 18%...
full member
Activity: 154
Merit: 100
November 16, 2013, 05:53:45 PM
#58
and now we will have new difficulty jump
full member
Activity: 226
Merit: 100
November 14, 2013, 09:31:33 PM
#57
Do you have now 36 card or you stopped minningh now

I stopped last summer and parted it out. Was fun while it lasted but I saw the ASICs on the horizon.  Just pointing out that buying used isn't always bad.  Some people can't deal with out of warranty failure and if you are buying one GPU it might not be worth the hassle but if you buy a lot and intend to drive them hard anyways it can be worth it.

Wow nice... why not mine alt with it..?
donator
Activity: 1218
Merit: 1079
Gerald Davis
November 14, 2013, 06:29:26 PM
#56
Do you have now 36 card or you stopped minningh now

I stopped last summer and parted it out. Was fun while it lasted but I saw the ASICs on the horizon.  Just pointing out that buying used isn't always bad.  Some people can't deal with out of warranty failure and if you are buying one GPU it might not be worth the hassle but if you buy a lot and intend to drive them hard anyways it can be worth it.
full member
Activity: 154
Merit: 100
November 14, 2013, 06:26:14 PM
#55
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

If you have free electricity, don't go for ASIC. Go for primecoin..

Buy up all 2nd hand GPU and mine the hell out of all Alt would be better...


buy up 2nd hand and when they broke you dont have warranty

That's the reason why they are cheaper, just don't over clock too much and temperature below 70c would be great

 
not agree with you.
IF you pay 250$ for new GPU, you have warranty if it brokes
IF you pay 150$ for used GPU, if it brokes you loose all your money.

If it is OC edition why the hell you shouldnt clock it?!
Oh wait it is used and you get 450 Mhs instead of 650

where is logic

It depends on how much of a discount you get and how likely the risk of failure was.

When new HD 6990s were >$700 I bought 40 used 5970s for $250 to $400 ea.  2 were DOA which I disputed w/ ebay and returned for refund.  Of the other 38, two of them died over the next 18 months of mining.  I probably saved >$10,000 compared to new.




Do you have now 36 card or you stopped minningh now
legendary
Activity: 2464
Merit: 1102
November 13, 2013, 09:24:02 AM
#54
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

If you have free electricity, don't go for ASIC. Go for primecoin..

Buy up all 2nd hand GPU and mine the hell out of all Alt would be better...


buy up 2nd hand and when they broke you dont have warranty

That's the reason why they are cheaper, just don't over clock too much and temperature below 70c would be great

 
not agree with you.
IF you pay 250$ for new GPU, you have warranty if it brokes
IF you pay 150$ for used GPU, if it brokes you loose all your money.

If it is OC edition why the hell you shouldnt clock it?!
Oh wait it is used and you get 450 Mhs instead of 650

where is logic

It depends on how much of a discount you get and how likely the risk of failure was.

When new HD 6990s were >$700 I bought 40 used 5970s for $250 to $400 ea.  2 were DOA which I disputed w/ ebay and returned for refund.  Of the other 38, two of them died over the next 18 months of mining.  I probably saved >$10,000 compared to new.



woohoo, so you still have like 36 left as of today?
newbie
Activity: 16
Merit: 0
November 11, 2013, 10:40:05 PM
#53
Just a year ago having a 5Gh/s setup was pimp now it's ghetto.
donator
Activity: 1218
Merit: 1079
Gerald Davis
November 10, 2013, 01:55:10 PM
#52
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

If you have free electricity, don't go for ASIC. Go for primecoin..

Buy up all 2nd hand GPU and mine the hell out of all Alt would be better...


buy up 2nd hand and when they broke you dont have warranty

That's the reason why they are cheaper, just don't over clock too much and temperature below 70c would be great

 
not agree with you.
IF you pay 250$ for new GPU, you have warranty if it brokes
IF you pay 150$ for used GPU, if it brokes you loose all your money.

If it is OC edition why the hell you shouldnt clock it?!
Oh wait it is used and you get 450 Mhs instead of 650

where is logic

It depends on how much of a discount you get and how likely the risk of failure was.

When new HD 6990s were >$700 I bought 40 used 5970s for $250 to $400 ea.  2 were DOA which I disputed w/ ebay and returned for refund.  Of the other 38, two of them died over the next 18 months of mining.  I probably saved >$10,000 compared to new.

full member
Activity: 154
Merit: 100
November 10, 2013, 01:05:05 PM
#51
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

If you have free electricity, don't go for ASIC. Go for primecoin..

Buy up all 2nd hand GPU and mine the hell out of all Alt would be better...


buy up 2nd hand and when they broke you dont have warranty

That's the reason why they are cheaper, just don't over clock too much and temperature below 70c would be great

 
not agree with you.
IF you pay 250$ for new GPU, you have warranty if it brokes
IF you pay 150$ for used GPU, if it brokes you loose all your money.

If it is OC edition why the hell you shouldnt clock it?!
Oh wait it is used and you get 450 Mhs instead of 650

where is logic
hero member
Activity: 583
Merit: 500
November 02, 2013, 08:16:39 PM
#50
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

If you have free electricity, don't go for ASIC. Go for primecoin..

Buy up all 2nd hand GPU and mine the hell out of all Alt would be better...


buy up 2nd hand and when they broke you dont have warranty

That's the reason why they are cheaper, just don't over clock too much and temperature below 70c would be great
full member
Activity: 154
Merit: 100
November 02, 2013, 06:33:34 PM
#49
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

If you have free electricity, don't go for ASIC. Go for primecoin..

Buy up all 2nd hand GPU and mine the hell out of all Alt would be better...


buy up 2nd hand and when they broke you dont have warranty
legendary
Activity: 1974
Merit: 1010
November 01, 2013, 11:11:34 AM
#48
What is the symbol for primecoin ?

XPM
hero member
Activity: 526
Merit: 500
November 01, 2013, 08:27:18 AM
#47
What is the symbol for primecoin ?

http://en.wikipedia.org/wiki/Primecoin you can find everything here...
member
Activity: 110
Merit: 10
November 01, 2013, 06:57:33 AM
#46
What is the symbol for primecoin ?
sr. member
Activity: 448
Merit: 250
November 01, 2013, 06:55:47 AM
#45
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

If you have free electricity, don't go for ASIC. Go for primecoin..

Buy up all 2nd hand GPU and mine the hell out of all Alt would be better...
sr. member
Activity: 420
Merit: 250
What's a primecoin?  Must be a newer alt coin.

Quite new but it is among the biggest already...
sr. member
Activity: 285
Merit: 250
What's a primecoin?  Must be a newer alt coin.
sr. member
Activity: 728
Merit: 253
A Blockchain Mobile Operator With Token Rewards
What's a primecoin?  Must be a newer alt coin.
full member
Activity: 154
Merit: 100
or other alts
sr. member
Activity: 272
Merit: 250
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

If you have free electricity, don't go for ASIC. Go for primecoin..
sr. member
Activity: 322
Merit: 250
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

Even if you have free power you may be tempted to do something more profitable with it than mining. Not getting payment for electricity isn't funny.

I think mining is the most profitable for free electricity, maybe baking cakes too...

The way things are now, buying a miner will be a loss even with free electricity and no miner wear whatsoever. Difficulty grows exponentially and the profit from a miner will never reach the cost of the miner.

Wait until the difficulty increase to a level where electricity is the main problem. Buying 2TH/s with free electricity might be the clear winner...
legendary
Activity: 1246
Merit: 1077
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

Even if you have free power you may be tempted to do something more profitable with it than mining. Not getting payment for electricity isn't funny.

I think mining is the most profitable for free electricity, maybe baking cakes too...

The way things are now, buying a miner will be a loss even with free electricity and no miner wear whatsoever. Difficulty grows exponentially and the profit from a miner will never reach the cost of the miner.
sr. member
Activity: 322
Merit: 250
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

Even if you have free power you may be tempted to do something more profitable with it than mining. Not getting payment for electricity isn't funny.

I think mining is the most profitable for free electricity, maybe baking cakes too...
sr. member
Activity: 728
Merit: 253
A Blockchain Mobile Operator With Token Rewards
I think if you make the hardware, then it's profitable =) Wish I knew how to make it!
newbie
Activity: 32
Merit: 0
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply

Even if you have free power you may be tempted to do something more profitable with it than mining. Not getting payment for electricity isn't funny.
full member
Activity: 154
Merit: 100
i dont see it is profitable to buy any ASIC miners now, only if u have free power suply
donator
Activity: 1218
Merit: 1079
Gerald Davis
Luck, improved firmware, you rig was underperforming on the prior difficulty period.  In the long run your reward for a given amount of hashpower is 1:1 inversely tied to difficulty.
full member
Activity: 125
Merit: 100
To be honest, it's not as bad as I thought it might be.

If you follow the trends of the network, a 45-50% jump in hashrate and difficulty was to be expected, but if the size of the network grows


I've been mining with my new Jupiter for a week now. Performance has been fluctuating 480-550 Gh/s over the past week, with daily take varying 0.81-1.1 BTC per 24h (average 1.0 per day) -- depending on performance, pool luck (BTC guild) etc.

I expected a 50% rise to mean a 30-35% drop in revenue down to about 0.6-0.7 BTC per day, but it's been better than that. Even though the the network jumped as much as it did, the daily take on the Jupiter is still 0.75-0.85.

Your revenue is based on difficulty.  Until difficulty adjusts of course you will make the same revenue.  If difficulty adjusts up 50% then you will make 1/1.50 = 66% of what you were making before.

I know, that's what I was expecting, but it turned out better than that. It could be pool luck, but it was 0.9-1.0 btc per day average in the past week, and I expected it to drop to 0.65 -- but it's been better than that, to my surprise  0.75-0.85 per day.
sr. member
Activity: 410
Merit: 250
Sad to see that big drop in BTC production. 100 GH/S really is the entry point these days. 1 BTC per day is like 1200 GH/s.
100 GH/S is meaningless as an "entry point" figure.
donator
Activity: 1218
Merit: 1079
Gerald Davis
To be honest, it's not as bad as I thought it might be.

If you follow the trends of the network, a 45-50% jump in hashrate and difficulty was to be expected, but if the size of the network grows


I've been mining with my new Jupiter for a week now. Performance has been fluctuating 480-550 Gh/s over the past week, with daily take varying 0.81-1.1 BTC per 24h (average 1.0 per day) -- depending on performance, pool luck (BTC guild) etc.

I expected a 50% rise to mean a 30-35% drop in revenue down to about 0.6-0.7 BTC per day, but it's been better than that. Even though the the network jumped as much as it did, the daily take on the Jupiter is still 0.75-0.85.

Your revenue is based on difficulty.  Until difficulty adjusts of course you will make the same revenue.  If difficulty adjusts up 50% then you will make 1/1.50 = 66% of what you were making before.
sr. member
Activity: 322
Merit: 250
100%, which incur few month from now..
full member
Activity: 154
Merit: 100
man when they launch new ASICs the difficultiy will increase faster and faster!
sr. member
Activity: 728
Merit: 253
A Blockchain Mobile Operator With Token Rewards
Why doesn't DIFFICULTY affects price? Any TL;DR?

Supply remains the same regardless of changes in difficulty.   New production remains the same regardless of difficulty.

Now price does affect supply.  When price goes up miners profits (in USD) increase and their electrical costs denominated in BTC decrease.  This fuels more hardware purchases and difficulty rises.  If prices falls then marginal miners (least efficient gear and higher energy cost) get squeezed and eventually turn off rigs so difficulty declines until price rises enough that they are profitable again .... and the cycle goes on.

But it's perception of the increase in mining gear prices and Hash that has an indirect effect on prices that drives up the value.  Most small time miners will mine when prices drop to 5 dollars.  I think it's actually the big miners that stop...since they care about profitability.  I think there are a lot of people that mine as a hobby. Not saying you're wrong...your economics sounds pretty impressive...just that there is an effect on increase/decrease difficulty. 
full member
Activity: 125
Merit: 100
To be honest, it's not as bad as I thought it might be.

If you follow the trends of the network, a 45-50% jump in hashrate and difficulty was to be expected, but if the size of the network grows this much, the drop in revenue wasn't as much as I thought it would be.


I've been mining with my new Jupiter for a week now. Performance has been fluctuating 480-550 Gh/s over the past week, with daily take varying 0.81-1.1 BTC per 24h (average 1.0 per day) -- depending on performance, pool luck (BTC guild) etc.

I expected a 50% rise to mean a 30-35% drop in revenue down to about 0.6-0.7 BTC per day, but it's been better than that. Even though the the network jumped as much as it did, the daily take on the Jupiter is still 0.75-0.85.
legendary
Activity: 910
Merit: 1000
Sad to see that big drop in BTC production. 100 GH/S really is the entry point these days. 1 BTC per day is like 1200 GH/s.
sr. member
Activity: 448
Merit: 250
I think there will continue to be large difficulty jumps, not because of more efficient asics, but because existing 28nm chips will get lowered in price by a lot. The huge cost of making these chips is upfront. Actually producing the chip is quite cheap comparatively. While these asics will be the most effective for a while, the hardware companies will try to milk it for all its worth by slowly lowering its price. This means all of a sudden there are a ton more people purchasing. Finally when a more efficient asic comes out I expect the 28 nm ones to be producing only marginally more Bitcoin than their electricity cost.
donator
Activity: 1218
Merit: 1079
Gerald Davis
The real hike is coming when they ship 2 THs ASIC

It would be 10 TH/s ASIC after that, the technology just keep getting better Smiley

Probably not.  We will be at 28nm a while.  ASIC Miners didn't get better faster due to Moore's law it simply was designers "jumping ahead" to smaller processing nodes.  28nm is as economical as it gets in 2013/2014.   It will be a while before 22/20nm is cost effective.

At 28nm it looks like from three different vendors you are looking at ~0.7J /GH at the wall.  So 2 TH/s is probably around 1400W.  US 15A outlet is rated for 1440W continual load.  Now you may say in Nowhereistan the standard outlet is 240V, 33.8A but mining is perfectly parallel.  It makes little sense to sell a 2 TH/s and 4 TH/s unit you can just sell 2 TH/s units and sell some people 1 and other people 2. 

 
sr. member
Activity: 364
Merit: 250
The real hike is coming when they ship 2 THs ASIC

It would be 10 TH/s ASIC after that, the technology just keep getting better Smiley
legendary
Activity: 1064
Merit: 1001
The real hike is coming when they ship 2 THs ASIC

When this will happen?
sr. member
Activity: 273
Merit: 250
The real hike is coming when they ship 2 THs ASIC
sr. member
Activity: 297
Merit: 250
Why doesn't DIFFICULTY affects price? Any TL;DR?

Because miners and investor are two different categories. Although difficulty does correlated somehow. Like the difficulty is too high I might as well buy BTC Smiley
donator
Activity: 1218
Merit: 1079
Gerald Davis
Why doesn't DIFFICULTY affects price? Any TL;DR?

Supply remains the same regardless of changes in difficulty.   New production remains the same regardless of difficulty.

Now price does affect supply.  When price goes up miners profits (in USD) increase and their electrical costs denominated in BTC decrease.  This fuels more hardware purchases and difficulty rises.  If prices falls then marginal miners (least efficient gear and higher energy cost) get squeezed and eventually turn off rigs so difficulty declines until price rises enough that they are profitable again .... and the cycle goes on.
legendary
Activity: 3472
Merit: 1724
I thought difficulty was limited to +/- 40% per jump...

It can increase or decrease by as much as a factor of four.

not 40% but rather 400% up or down.

300% up or 75% down  Cheesy
legendary
Activity: 1792
Merit: 1047
I thought difficulty was limited to +/- 40% per jump...

It can increase or decrease by as much as a factor of four.

not 40% but rather 400% up or down.
legendary
Activity: 3472
Merit: 1724
I thought difficulty was limited to +/- 40% per jump...

It can increase or decrease by as much as a factor of four.
full member
Activity: 281
Merit: 100
I thought difficulty was limited to +/- 40% per jump...
hero member
Activity: 686
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WANTED: Active dev to fix & re-write p2pool in C
I never did understand text speak...... Cheesy

And yeah, the diff is a real bummer eh?
legendary
Activity: 3583
Merit: 1094
Think for yourself
legendary
Activity: 1386
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Please do not PM me loan requests!
legendary
Activity: 3583
Merit: 1094
Think for yourself
Any TL;DR?

What the heck does tl;dr mean?
full member
Activity: 129
Merit: 100
Why doesn't DIFFICULTY affects price? Any TL;DR?


I believe difficulty affects price, the harder it is to get the BTC the more valuable BTC is for me
sr. member
Activity: 448
Merit: 250
And this is why mining is felling more and more like jumping into quicksand.
legendary
Activity: 1064
Merit: 1001
Why doesn't DIFFICULTY affects price? Any TL;DR?
sr. member
Activity: 412
Merit: 250
Good news for bitcoin network security. Bad news for individual miners.
hero member
Activity: 728
Merit: 500
So... up into a 2011 style bubble?
legendary
Activity: 1834
Merit: 1019
Do people speculate that this affects the price somehow?

It affects supply and demand...ie price.
hero member
Activity: 728
Merit: 500
Do people speculate that this affects the price somehow?
legendary
Activity: 1834
Merit: 1019
Win some lose some!
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
A whopping 46% raise, only before the first rally to $30 I can find such large jump in difficulty Undecided
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