Still not having a "huge" impact as of yet. Seems like things always speed up towards the end of a block cycle.
[18:15] <@gribble> Current Blocks: 136150 | Current Difficulty: 1563027.9961162 | Next Difficulty At Block: 137087 | Next Difficulty In: 937 blocks | Next Difficulty In About: 6 days, 3 hours, 3 minutes, and 25 seconds | Next Difficulty Estimate: 1659938.08690295
Looks like we might be in store for more of a difficulty bump than last round. So it goes.
Then again, difficulty rate of increase seems to have slowed as compared to the last several blocks. EG., it's not growing at 50% and more.
So long as it pays for the electricity and maybe a bit more, I think people will do it. That and so long as it remains semi-viable (eg., you can turn it into $ without too much difficulty). Would be nice to see more vendors getting involved.
I doubt many of us who are already "in" will be getting "out" anytime soon.
So find a seat and enjoy the ride.
All that being said, I am curious why network hash seems to rise as we approach the end a 2016 block round.
Topic: Why has the network jumper to 14 terahashes? - page 2. (Read 5427 times)
Difficulty isn't staying put -- that's a pipe dream.
Mark my words.
Look at how many people are sitting on *prime mining hardware* who still are just finding out about Bitcoin.
One guy said:
"Even if I can get 1/2 my new PC paid off in the space of 1 year, I'm in!"
...
So until THAT becomes not true any longer, expect more and more miners -- and difficulty.
Mark my words.
Look at how many people are sitting on *prime mining hardware* who still are just finding out about Bitcoin.
One guy said:
"Even if I can get 1/2 my new PC paid off in the space of 1 year, I'm in!"
...
So until THAT becomes not true any longer, expect more and more miners -- and difficulty.
Exactly. That's why I've always held the opinion that difficulty does not follow price. Rather, difficulty follows awareness.
http://hardforum.com/showthread.php?t=1622219 was posted today, by the look of the replies quite a few people there didn't know about bitcoins before. If any forum has the hardware to make an increase like that it would be them.
Difficulty isn't staying put -- that's a pipe dream.
Mark my words.
Look at how many people are sitting on *prime mining hardware* who still are just finding out about Bitcoin.
One guy said:
"Even if I can get 1/2 my new PC paid off in the space of 1 year, I'm in!"
...
So until THAT becomes not true any longer, expect more and more miners -- and difficulty.
Moral of the story: Don't run your income calculations with "0 difficulty increases" factored in -- you'll be in for disappointment.
Moral of the story: Don't estimate more than 1 1/2 - 2 months out.
TL;DR (for all you young'uns) -- If the payoff period is greater than 60 days, RUN AWAY. Or at least be patient for a better deal. I'm serious.
buncha reactionaries... geez. Even a picture posted in this very thread of the spiky nature of the current entry. If in 12 or 24 hours the rate stays this high it might be something to go ape about, but for now it looks like the same anomaly as the 7/9 spike that didn't result from any massive new mining cluster coming online.
Yeah it was me. I got sick of trying to play Crysis 2 on high settings, so I went back to mining for Bitcoins.
Nearly 16th now 
Will loads of small miners get out of the game and bring it down again? What percentage of the network would be small miners? ie. 1 to 1.5 gighash.
Will loads of small miners get out of the game and bring it down again? What percentage of the network would be small miners? ie. 1 to 1.5 gighash.
I'm really pissed up my 8gh/s rig isn't going to be turned on till the weekend.
Is there not some way to find out where all these power is coming from? Is this from other or one of the pools?
Is there not some way to find out where all these power is coming from? Is this from other or one of the pools?
I was wondering the same thing about the increase. I thought it was finally stabilizing at 11 and then it seemingly jumped to 15 within an instant. Things are about to get a whole lot more interesting...
I know there are people here who seem to think difficulty and BTC price are related... Not being one of those people myself, I believe that we'll see a HUGE BTC SELLOFF once the next increase happens and people decide to cash out and run from their large scale costly and time consuming mining operations (the steady fall from 17 to 14 illustrates my theory that this has already been occuring since the last 2 difficulty increases). I only hope the price rebounds once that happens. I fear that for now the trend is down. Hopefully some major news site drums up some more interest in bitcoin speculation to offset the declining factors so that us little guys can continue digging up bitcoins.
I know there are people here who seem to think difficulty and BTC price are related... Not being one of those people myself, I believe that we'll see a HUGE BTC SELLOFF once the next increase happens and people decide to cash out and run from their large scale costly and time consuming mining operations (the steady fall from 17 to 14 illustrates my theory that this has already been occuring since the last 2 difficulty increases). I only hope the price rebounds once that happens. I fear that for now the trend is down. Hopefully some major news site drums up some more interest in bitcoin speculation to offset the declining factors so that us little guys can continue digging up bitcoins.
http://hardforum.com/showthread.php?t=1622219 was posted today, by the look of the replies quite a few people there didn't know about bitcoins before. If any forum has the hardware to make an increase like that it would be them.
22 blocks in the last 2 hours blame JPMorgan
I think we have a hidden "big player" in bitcoin mining... It has a lot of GH/s power and is turning it on just before difficulty increase/decrease to make mining more unprofitable. That way it knocks out small miners and will free its mining process in the future.
What do you mean about this?
What do you mean about this?
Mining isn't as unprofitable as some people seem to claim.
And I don't think the SIPA charts are pulling figures out of thin air, either. Their figures have matched up quite well with eventual difficulty increases.
You can see there's an obvious change between the right-hand side of the chart (today) and a little bit to the left of it, where it's often "below the line".
Ain't nobody THAT lucky!
You can see there's an obvious change between the right-hand side of the chart (today) and a little bit to the left of it, where it's often "below the line".
Ain't nobody THAT lucky!
I think it's too big of a swing to be simple "luck".
What is going on? Did some large cluster just go online?
1 or 2 Thash is a lot of 5830's.
What is going on? Did some large cluster just go online?
1 or 2 Thash is a lot of 5830's.
There's no way this increase is variance, some serious hardware is coming online...
its well over 16thash now, dot bit is showing a "instant" difficulty of 2.2xx.xxx, this does not seems to be a peak.
Botnets?
nevermind, you guys are probably watching bitcoincharts.com
anyone ever questioned how that number is calculated at their site? I know their formula is wrong or at least misleading. That number will show a big drop in the next 12 to 24 hours.
Network is still at 11.5 Th, expected to hit 12 Th in a week.
anyone ever questioned how that number is calculated at their site? I know their formula is wrong or at least misleading. That number will show a big drop in the next 12 to 24 hours.
Network is still at 11.5 Th, expected to hit 12 Th in a week.
Yeah, I was referring to Bitcoincharts. I've always had my doubts about the accuracy of the network numbers (the exchange rate numbers are pretty accurate though) since they've often been off by a TH or two with regard to Deepbit's hash power.
I have a hard time believe it's just variance/luck. It was a *very large* spike.
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