Topic: The difficulty is now at a new all time high - page 2. (Read 6520 times)

*cough* 5970 is 740mhash easy. cheaper price

*cough* 5970 is 740mhash easy. cheaper price

yes. a 7970 can do what? 550-700 mh/s depending on who you ask, what model, over clocking, etc...
So that is like bringing online two 5830s at once. Nothing to sneeze at really. Just multiply it by your guess
how many were bought by forum members and gamers who know about bitcoins... and you can consider it
a nice chunk of mining power.

Also every other gamer turned miner who had access to a 7xxx model worth mining some btc with.
Sure I know they are not the best card to mine with compared to older models but they are not slouches
either.

Every little bit adds up when people notice the price rises and wants in. Even if only .2 BTC per day.

radeon 7000's?

Bfl finishing up their old orders would bring diff up. Newer radeon vid card series brought things up. Other fpga stuff coming online. Higher btc price added some old users back into mining with what they have. Etc..

which country

And in my country 5830s sell at about 160$ used, so I'm even profiting by buying used hardware and reselling.

That's the thing - I can always stick my 7970s on ebay later and be at a profit.
The people I feel a touch sorry for are those with mining FPGA clusters - people who've dropped $10000 on Ztex boards and the like which can't really be used for too much outside mining.

I was hoping for a few good final months before ASICs arrived, because I expected people to ditch their GPU farms while they still can get a decent price for them. I mean, good luck selling your GPUs in november or whenever these asics hit.

Unfortunately, the sharp BTC price increase has pretty much killed that hope, and everyone seems to be doing what Im doing: mining on their gpu's till the bitter end, even if it means selling the gpu's later at far lower prices.

wow our network hash has gone up almost 4 percent since last increase?

Agreed.  I feel like it should be skyrocketing, but I think a lot of people may be holding off on expanding their farm as they wait to see if the BFL asic really materializes.  Also, a lot of miners may have realized they could make more by selling their gear and putting the coin into a pirate pass-through if they are ok with the risk.

We'll be over 2.1 million soon

Kind of suprised the difficulty isn't rising faster than it has been to be honest. We must be losing some gpu miners.

Looks like it's time for me to look into FPGAs for present demands (as it looks like BFL won't be able to meet my needs due to really long pre-order list for the ASICs/plus their famous delays too) as well as look into suppliers of mining equipment (GPUs/FPGAs/ASICs) who are reputable (I'm sticking to UK suppliers for tax reasons plus legal protections if something goes wrong,like non delivery/faulty product).

I think I've reached the limit for my current equipment (as they can't be pushed any further on the MBP and PC with HD6950 under current conditions) so I'll have to think carefully where I thread from now on (either consider further expansion of mining capability or plan for a phased withdrawal if suppliers in UK are unable to meet my needs for equipment plus I can't trust overseas suppliers due to tax/buyer protection issues.In UK buying abroad means paying tax at customs to 'release' the shipment at customs and this can take time).

I'm also diversifying my portfolio for which crypto currencies to mine with (currently consists of BTC and LTC since SC is no longer meeting my needs-big delays in Microcash transition is putting me off further investment until things are on a more solid footing with SC/MK) so for now this'll help me in the short term.

Anyway thats,that for the strategy part. I do think that when more people get annoyed at very high difficulty,they'll simply drop out of mining (as it's unprofitable for them) and the difficulty will drop and cycle will repeat itself thus business as usual.