Topic: Will btc difficulty go sideways for rest of the year? - page 9. (Read 11916 times)

Panic in full swing?

Or over hype to drive miners off.

From the charts I am going to say this is not FUD but some more reality.

Video from the markets and resellers,

https://www.youtube.com/watch?v=T9Fq-uTVNio

Note anyone looking to source now get to china tech markets,

 

 @ windjc  

the entire BTC/sha256 hash shift was called as perfectly as possible by my thread which started on OCT 4th which was the peak difficulty


I like to think  my timing pretty much spot on.

We can argue defining terms all you want bro, but I pretty much called it on the exact correct day to call it.

Whether you want to blame a long list of factors (which is correct)

 Oct 4 was the turning point.  Who knows maybe this thread is the true factor of the hash slump ( a joke)

I can only say I will be buying some more coin soon.

Hash rate follows price. It’s a lagging indicator. Correlation is not causation in regards to bch fork and btc hash rate. The price is crashing due to technicals and the hash rate is getting crushed because the hash rate bubble only just now peaked.

all of crypto was worth around 1,200,000,000,000 last december
all of crypto is worth around    $122,967,315,733   this November.

worse then the 90% drop is  so many weaknesses have been exposed I am not sure what the recovery will be like.




gray line shows  an uptick



most likely due to bch and its fork getting crushed

This actually has a lot of merit and grounds looking back at the charts at the hash-rate and diff it now stands out that indeed there must of been machines with higher TH rating (s11) hitting the network back then the spike in diff was for me not a linear move it was very much parabolic in nature.

If this is the case and users of hash-nest have been basically scammed and this can be proved this is really going to end badly for them though saying that seems to me if your in china you can do what every the hell you want.  

I do see the similarity as you said phill regarding the Bunker Hunt Brothers and there attempting to corner the market in silver we all know how that ended up.
That I think is what Bitmain did (push up the diff & corner the market)   Only I think there plan might just have backfired on them in a big way.

Now that you mentioned it, and now that prices are well below $4k... plus difficulty dropping off so much, it might be that the conditions are almost right again for a solar miner to try - of course, difficulty would still have to drop off a lot, lot more, but it's possible to imagine holding tight and mining at low cost. Bet 2020 run up would be just as great for anyone starting now as last year's was for those who started in 2016.

Looking up buysolar actually...

3 sites for difficulty.

https://bitcoinwisdom.com/bitcoin/difficulty

the other two are in the thread above.

i mine btc at

ckpool.org ------------------  about 100 th partners with someone
solo.ckpool.org--------------- about  42 th just for me
mmpool.com ----------------- about 1 to 50 th varies
http://www.bravo-mining.com/ ---  some side hack sticks under 200 gh

I mine with cpus and gpus other coins.

As for toward trend in price  

nov 2013 1300
jan  2015   175    multiple reasons mt got and the  bitmain  vs spondollies price war

this drop is jan dec 2017   19990  to 3675   bitmain once again has been a large factor in it.  the details of what I know they do are bad but what i don't know is most likely true and bigger reason why it has happened.

It kind of belongs here and in the is bitmain going belly up thread.

I can list the facts we do know

I can also mention what bitmain may have done ie hashnest was so wrong on a fiscal level it is truly sad.

No transparency on what gear was really mining .

Ie s-7 rates to the shareholder and they mined with s-9

ie s -9 rates to the share holder and they mined with s-11 or s-9j

zero proof of these claims but the gear existed side by side for 2 years in the case of s-7 and s-9 that is true.

So if all the s-7's were replaced with s-9's the owner of s-7 hash would pay s-7 rates and bitmain would only have s-9's  no proof this was done.

but nothing to dispel this for 2 years.  so it should not have been done s-7's should not have been allowed to run at hash nest while s-9's ran there,

Just too easy for huge flash power charges to happen.

Yea, I don't know much about mtgox but this slide has been long. I was thinking the dip would be like earlier this year but there are other factors at play it seems.

I guess we can assume diff will be dropping more not going sideways. If anything this period will add to scarcity and increase demand maybe in a month from now or q1 next year. Wonder if we'll see market increase late q1, early q2. A mirror of this year?   

Has it ever been on a downward trend this long though? It's been pretty much dropping steadily the entire year. The last major dumps I can think of were the bottom falling out of media hype bubbles, and the MtGox fiasco which revealed a whole lot of market manipulation and outright lies.

Yea, I'd heat with the asics for sure. I don't know much about the accounting. I know for people or companies who want those first batch releases will have us store something and they earn the interest off it. Though a local credit union should be able to do the same. For me though it's not BTC and my three jobs doesn't mean I have much to bank anyway.

What are more of the thoughts causing the dump? Really just a lot of people giving up? I thought BTC's been thought cycles similar already.

MFB, I gave y'all some money for the chips sale y'all brokered but that's the only "account" I might have. As for financial anything else, I abhor debt so I won't borrow except in emergencies and have never endorsed trading for profit. Call me an optimist but the bulk of my savings for the last 15 months or so have been in BTC. Needless to say I've been taking a beating lately.

But hey, if diff keeps dropping maybe I'll get some good heater-mining in. The apartment and shop are all electric heat.

I've been buying more than my usual "latte" money worth the last week or so. So this is nice. I may have to shut the "heaters" off though cause my gas furnace will be cheaper to run if this market continues trend.

Sidehack I thought you set up an account with us? Our financial guy is pretty good at at least securing a decent APY for shitty fiat liquidity.

where do you lookup the realtime mining difficulty, and what pools are you guys mining at?

Phil - not really, no. I've got an S9 I cobbled together from salvage parts and something like a dozen S7 I'll be lighting up for heat soon but that's about it.

Diff is looking to go down a lot

you have anything mining for yourself?

MOTHERF$@&

Would be a freakin' marvellous time to buy if I didn't need to *increase* liquid capital right now.

nice I will buy some.



edit I just purchased some at 3675.

I have more cash set aside for next drop

For what it's worth, another step down in BTC price. Last quote from coinbase: $3757.

Hey I got a piece of the solar array with buysolar  my gear always profits.

50-50 coin split   so 100th of btc gear = 50th for no cost  the diff drop  helps the array as we are power capped at 20kwatts.

I am not the only solar miner.  if you opened a solar array  in 2016 the runup last year was great.

This was my suspicion too. Some as we've seen have already thrown in the towel, but there's sure to be others who're willing and financially able to dig in and mine, counting on a significant price recovery not too far away. Those patient in the past were rewarded, it's not just the buyers and holders who're the permabulls, buying and holding and gritting their teeth. Sure to be a handful of hardcore miners in that camp.