Will the difficulty of mining keep on going up forever?

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Quote from: kotwica666 on December 19, 2014, 11:51:14 AM

Quote from: cloverme on December 18, 2014, 09:59:34 PM

Quote from: nwfella on December 18, 2014, 09:48:25 PM

This part seem's pretty high to me. The sheer amount of hardware you would need to pull a $100-$200/month profit (even with dropping difficulty) is still enormous. I really doubt most houses/apt's are wired for 15+kwh's. Agree with the undervolting/underclocking statements though

Agreed, I think if BTC drops below $300 for an extended period, the mining farms that just focus on bitcoin and nothing else, will have to start shutting down mining equipment. I think the sub $500 price is why we are seeing difficulty drop. I think the large farms are either redirecting hashing to altcoins or turning it off.

It is most likely turning mining for alts. Closing is just loss ..

There are very few SHA256 alt coins out there (they are mostly scrypt) so anyone that is not able to mine profitably with their bitcoin ASIC is not going to be able to mine the majority of the altcoins

ranochigo

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Quote from: noobtrader on December 19, 2014, 01:11:35 PM

Quote from: kotwica666 on December 19, 2014, 11:51:14 AM

Quote from: cloverme on December 18, 2014, 09:59:34 PM

Quote from: nwfella on December 18, 2014, 09:48:25 PM

This part seem's pretty high to me. The sheer amount of hardware you would need to pull a $100-$200/month profit (even with dropping difficulty) is still enormous. I really doubt most houses/apt's are wired for 15+kwh's. Agree with the undervolting/underclocking statements though

Agreed, I think if BTC drops below $300 for an extended period, the mining farms that just focus on bitcoin and nothing else, will have to start shutting down mining equipment. I think the sub $500 price is why we are seeing difficulty drop. I think the large farms are either redirecting hashing to altcoins or turning it off.

It is most likely turning mining for alts. Closing is just loss ..

closing or mining other alts is definitely loss-loss situation, one loss more than the other

Closing down mining operations and selling all of the equipments may allow user to gain some money back. Mining profitable alt coins which are profitable and a non pump and dump scheme could yield some profits if electrical cost and price of equipment is low enough. Both of them includes risk as bitcoin price may rise in the future but Bitcoin difficulty could very well remain close to the current difficulty. The altcoin could crash overnight and you would have wasted time mining that alt coin.

noobtrader

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Quote from: neegeeboo on December 19, 2014, 04:10:01 PM

How are people converting the altcoins to BTC or USD?

crypto exchange Huh

neegeeboo

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How are people converting the altcoins to BTC or USD?

noobtrader

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Quote from: kotwica666 on December 19, 2014, 11:51:14 AM

Quote from: cloverme on December 18, 2014, 09:59:34 PM

Quote from: nwfella on December 18, 2014, 09:48:25 PM

This part seem's pretty high to me. The sheer amount of hardware you would need to pull a $100-$200/month profit (even with dropping difficulty) is still enormous. I really doubt most houses/apt's are wired for 15+kwh's. Agree with the undervolting/underclocking statements though

Agreed, I think if BTC drops below $300 for an extended period, the mining farms that just focus on bitcoin and nothing else, will have to start shutting down mining equipment. I think the sub $500 price is why we are seeing difficulty drop. I think the large farms are either redirecting hashing to altcoins or turning it off.

It is most likely turning mining for alts. Closing is just loss ..

closing or mining other alts is definitely loss-loss situation, one loss more than the other

kotwica666

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Quote from: cloverme on December 18, 2014, 09:59:34 PM

Quote from: nwfella on December 18, 2014, 09:48:25 PM

This part seem's pretty high to me. The sheer amount of hardware you would need to pull a $100-$200/month profit (even with dropping difficulty) is still enormous. I really doubt most houses/apt's are wired for 15+kwh's. Agree with the undervolting/underclocking statements though

Agreed, I think if BTC drops below $300 for an extended period, the mining farms that just focus on bitcoin and nothing else, will have to start shutting down mining equipment. I think the sub $500 price is why we are seeing difficulty drop. I think the large farms are either redirecting hashing to altcoins or turning it off.

It is most likely turning mining for alts. Closing is just loss ..

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Quote from: nwfella on December 18, 2014, 09:48:25 PM

This part seem's pretty high to me. The sheer amount of hardware you would need to pull a $100-$200/month profit (even with dropping difficulty) is still enormous. I really doubt most houses/apt's are wired for 15+kwh's. Agree with the undervolting/underclocking statements though

Agreed, I think if BTC drops below $300 for an extended period, the mining farms that just focus on bitcoin and nothing else, will have to start shutting down mining equipment. I think the sub $500 price is why we are seeing difficulty drop. I think the large farms are either redirecting hashing to altcoins or turning it off.

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Quote from: philipma1957 on November 19, 2014, 11:49:41 AM

Quote from: Bitminer1224 on November 11, 2014, 09:08:55 PM

If you are a BTC miner, you will have to keep on buying more tech to keep up with the rise in the difficulty? Also does it always go up by a certain percentage? Or just by random? If its by random, how is it selected? I would like to see what your answers are.

you need to mine with a different tactic. you need to understand under volt and under clock are your friends. as is cold winter.

and you need to realize this is a 100 to 200 dollar a month profit for the home miner at best.

This part seem's pretty high to me. The sheer amount of hardware you would need to pull a $100-$200/month profit (even with dropping difficulty) is still enormous. I really doubt most houses/apt's are wired for 15+kwh's. Agree with the undervolting/underclocking statements though

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Quote from: xstr8guy on December 17, 2014, 06:21:32 PM

Quote from: philipma1957 on December 17, 2014, 06:11:23 PM

Quote from: xstr8guy on December 17, 2014, 05:32:54 PM

Quote from: philipma1957 on December 17, 2014, 03:36:45 PM

Quote from: noobtrader on December 17, 2014, 01:31:30 PM

Quote from: Aemon on December 17, 2014, 01:28:48 PM

Quote from: Klubknuckle on November 16, 2014, 10:19:02 AM

Difficulty will keep going up forever but at a slower pace. I believe we would see a drop when after the bitcoin halving..

That isn't actually true according to what I have read. It fluctuates according to how many blocks are found at a given speed. So if blocks are not being found fast enough, the difficulty will actually decrease to make it so that blocks are found more easily, I believe the time they try is every 10 minutes, someone can please correct me if I am wrong though.

the new question should be, will the difficulty will keep going up down forever ?

The question to be asked will the GAW-ZEN-PAYCOIN GROUP destroy or damage bitcoin as much as they did to LTC

If they succeed with the tactics and methods they used against lite coin they will surprise me. I would say they could be

A) good for us all
B) bad for us all
C) somewhere in the middle _______________________ this is my best guess. they hang around do okay and bleed off some bitcoin users. thus rates stay okay for btc

Lol. Why do you keep insisting that Paycoin MINING will have anything to do with the BTC network hashrate? POW mining for XPY is done on Friday. All ASICs will switch back to BTC as soon as that happens. And that will the last we hear of Paycoin. Wink

if paycoin works and is legit it is a better product in many ways. for me I prefer BTC but many people in the world would rather the ease of using paycoin over the harder to use bitcoin.

So if paycoin delivers on the promise of easy acceptance with a visa card concept people will want it over bitcoin. Thus harming BTC 's perceived value. Think of how FaceBook really hurt MySpace.

Oh c'mon now! Don't most of us know that Paycoin/GAW is just a sophisticated long con? Homero "Jeff" Garza will go down as the Bernie Madoff/Enron of crypto currency.

No! no one know's that . boy lots of no's .

It is a probability game. Now if you are one my mining buddies in south jersey you have more then 15k on the line saying he is not Bernie Madoff. Plus 2k in mining gear for other coins. So he is 15 to 2 in his favor.

If you are me you have 10k in btc coins and the gear to mine more btc with under .5k with paycoin so I am 20 to 1 against him.

Gaw also made about 2k for me back in August-Sept. I took it out and switched it to btc.

So do I know they are a fraud no. but I hold only a little of it just in case.

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Quote from: philipma1957 on December 17, 2014, 06:11:23 PM

Quote from: xstr8guy on December 17, 2014, 05:32:54 PM

Quote from: philipma1957 on December 17, 2014, 03:36:45 PM

Quote from: noobtrader on December 17, 2014, 01:31:30 PM

Quote from: Aemon on December 17, 2014, 01:28:48 PM

Quote from: Klubknuckle on November 16, 2014, 10:19:02 AM

Difficulty will keep going up forever but at a slower pace. I believe we would see a drop when after the bitcoin halving..

That isn't actually true according to what I have read. It fluctuates according to how many blocks are found at a given speed. So if blocks are not being found fast enough, the difficulty will actually decrease to make it so that blocks are found more easily, I believe the time they try is every 10 minutes, someone can please correct me if I am wrong though.

the new question should be, will the difficulty will keep going up down forever ?

The question to be asked will the GAW-ZEN-PAYCOIN GROUP destroy or damage bitcoin as much as they did to LTC

If they succeed with the tactics and methods they used against lite coin they will surprise me. I would say they could be

A) good for us all
B) bad for us all
C) somewhere in the middle _______________________ this is my best guess. they hang around do okay and bleed off some bitcoin users. thus rates stay okay for btc

Lol. Why do you keep insisting that Paycoin MINING will have anything to do with the BTC network hashrate? POW mining for XPY is done on Friday. All ASICs will switch back to BTC as soon as that happens. And that will the last we hear of Paycoin. Wink

if paycoin works and is legit it is a better product in many ways. for me I prefer BTC but many people in the world would rather the ease of using paycoin over the harder to use bitcoin.

So if paycoin delivers on the promise of easy acceptance with a visa card concept people will want it over bitcoin. Thus harming BTC 's perceived value. Think of how FaceBook really hurt MySpace.

Oh c'mon now! Don't most of us know that Paycoin/GAW is just a sophisticated long con? Homero "Jeff" Garza will go down as the Bernie Madoff/Enron of crypto currency.

philipma1957

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'The right to privacy matters'

Quote from: xstr8guy on December 17, 2014, 05:32:54 PM

Quote from: philipma1957 on December 17, 2014, 03:36:45 PM

Quote from: noobtrader on December 17, 2014, 01:31:30 PM

Quote from: Aemon on December 17, 2014, 01:28:48 PM

Quote from: Klubknuckle on November 16, 2014, 10:19:02 AM

Difficulty will keep going up forever but at a slower pace. I believe we would see a drop when after the bitcoin halving..

That isn't actually true according to what I have read. It fluctuates according to how many blocks are found at a given speed. So if blocks are not being found fast enough, the difficulty will actually decrease to make it so that blocks are found more easily, I believe the time they try is every 10 minutes, someone can please correct me if I am wrong though.

the new question should be, will the difficulty will keep going up down forever ?

The question to be asked will the GAW-ZEN-PAYCOIN GROUP destroy or damage bitcoin as much as they did to LTC

If they succeed with the tactics and methods they used against lite coin they will surprise me. I would say they could be

A) good for us all
B) bad for us all
C) somewhere in the middle _______________________ this is my best guess. they hang around do okay and bleed off some bitcoin users. thus rates stay okay for btc

Lol. Why do you keep insisting that Paycoin MINING will have anything to do with the BTC network hashrate? POW mining for XPY is done on Friday. All ASICs will switch back to BTC as soon as that happens. And that will the last we hear of Paycoin. Wink

if paycoin works and is legit it is a better product in many ways. for me I prefer BTC but many people in the world would rather the ease of using paycoin over the harder to use bitcoin.

So if paycoin delivers on the promise of easy acceptance with a visa card concept people will want it over bitcoin. Thus harming BTC 's perceived value. Think of how FaceBook really hurt MySpace.

xstr8guy

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Quote from: philipma1957 on December 17, 2014, 03:36:45 PM

Quote from: noobtrader on December 17, 2014, 01:31:30 PM

Quote from: Aemon on December 17, 2014, 01:28:48 PM

Quote from: Klubknuckle on November 16, 2014, 10:19:02 AM

Difficulty will keep going up forever but at a slower pace. I believe we would see a drop when after the bitcoin halving..

That isn't actually true according to what I have read. It fluctuates according to how many blocks are found at a given speed. So if blocks are not being found fast enough, the difficulty will actually decrease to make it so that blocks are found more easily, I believe the time they try is every 10 minutes, someone can please correct me if I am wrong though.

the new question should be, will the difficulty will keep going up down forever ?

The question to be asked will the GAW-ZEN-PAYCOIN GROUP destroy or damage bitcoin as much as they did to LTC

If they succeed with the tactics and methods they used against lite coin they will surprise me. I would say they could be

A) good for us all
B) bad for us all
C) somewhere in the middle _______________________ this is my best guess. they hang around do okay and bleed off some bitcoin users. thus rates stay okay for btc

Lol. Why do you keep insisting that Paycoin MINING will have anything to do with the BTC network hashrate? POW mining for XPY is done on Friday. All ASICs will switch back to BTC as soon as that happens. And that will the last we hear of Paycoin. Wink

philipma1957

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Quote from: noobtrader on December 17, 2014, 01:31:30 PM

Quote from: Aemon on December 17, 2014, 01:28:48 PM

Quote from: Klubknuckle on November 16, 2014, 10:19:02 AM

Difficulty will keep going up forever but at a slower pace. I believe we would see a drop when after the bitcoin halving..

That isn't actually true according to what I have read. It fluctuates according to how many blocks are found at a given speed. So if blocks are not being found fast enough, the difficulty will actually decrease to make it so that blocks are found more easily, I believe the time they try is every 10 minutes, someone can please correct me if I am wrong though.

the new question should be, will the difficulty will keep going up down forever ?

The question to be asked will the GAW-ZEN-PAYCOIN GROUP destroy or damage bitcoin as much as they did to LTC

If they succeed with the tactics and methods they used against lite coin they will surprise me. I would say they could be

A) good for us all
B) bad for us all
C) somewhere in the middle _______________________ this is my best guess. they hang around do okay and bleed off some bitcoin users. thus rates stay okay for btc

noobtrader

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Quote from: Aemon on December 17, 2014, 01:28:48 PM

Quote from: Klubknuckle on November 16, 2014, 10:19:02 AM

Difficulty will keep going up forever but at a slower pace. I believe we would see a drop when after the bitcoin halving..

That isn't actually true according to what I have read. It fluctuates according to how many blocks are found at a given speed. So if blocks are not being found fast enough, the difficulty will actually decrease to make it so that blocks are found more easily, I believe the time they try is every 10 minutes, someone can please correct me if I am wrong though.

the new question should be, will the difficulty will keep going up down forever ?

Aemon

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Quote from: Klubknuckle on November 16, 2014, 10:19:02 AM

Difficulty will keep going up forever but at a slower pace. I believe we would see a drop when after the bitcoin halving..

That isn't actually true according to what I have read. It fluctuates according to how many blocks are found at a given speed. So if blocks are not being found fast enough, the difficulty will actually decrease to make it so that blocks are found more easily, I believe the time they try is every 10 minutes, someone can please correct me if I am wrong though.

philipma1957

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'The right to privacy matters'

Quote from: Bitminer1224 on November 11, 2014, 09:08:55 PM

If you are a BTC miner, you will have to keep on buying more tech to keep up with the rise in the difficulty? Also does it always go up by a certain percentage? Or just by random? If its by random, how is it selected? I would like to see what your answers are.

you need to mine with a different tactic. you need to understand under volt and under clock are your friends. as is cold winter.

and you need to realize this is a 100 to 200 dollar a month profit for the home miner at best.

sumantso

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Since there is always to race to manufacture more efficient miners, difficulty will always keep rising even if the Bitcoin value stabilizes or drops slowly.

In far future a mobile sized miner may be providing the total hash we are seeing now.

Klubknuckle

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Difficulty will keep going up forever but at a slower pace. I believe we would see a drop when after the bitcoin halving..

Bitminer1224

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Thanks for all the answers! Cheesy

They were great, this topic pretty much gave me all the answers I need.

notlist3d

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Quote from: kotwica666 on November 14, 2014, 11:35:51 AM

Quote from: Aemon on November 14, 2014, 11:29:37 AM

From what I hear its how long it takes for blocks to be solved. So if it takes too long the difficulty will actually go down.

It all depends on what rigs we have and how powerful they become

and of course on price of Bitcoin..

To me and smart miners yes. But there are some that still run obsolete equipment. I won't mention company but one is trying to sell their old miners advertised as using for heating your house. I think it makes more sense to use one that is not obsolete for heat if you do it. But that is just me.

All that 30 MHz Scrypt that use 1000 watt stuff for example will make maybe 40 cents a day at 10 KWh. If there is any heat extraction chances are you lose money on those.

Topic: Will the difficulty of mining keep on going up forever? (Read 3767 times)