Re: Genesis-mining.com || World's leading hosted Scrypt hashpower provider!
Well when Asics came out in Jan 2013 the diff was 3 million, then Jan 2014 was 1.2 billion, last month 40 billion.
You are dreaming if you think the diff will be anything under 47 billion by end of this year. If btc price doesnt go up, alot of people are fup
If you have a better way to forecast than through past events you are welcome, but the curve seems to be going up.
They invented cloud mining because they cannot make any profit selling hardware that becomes obsolete within 90 days,
You are dreaming if you think the diff will be anything under 47 billion by end of this year. If btc price doesnt go up, alot of people are fup
If you have a better way to forecast than through past events you are welcome, but the curve seems to be going up.
They invented cloud mining because they cannot make any profit selling hardware that becomes obsolete within 90 days,
Do the maths dude
Doubling the current difficult would require the additional usage of 26,9565 Bitman S5 ($413 plus PSU plus extras $600) units or their equivalent alternatives.
This would require $161,739,130 this year up front, plus not a single old unit must be decommissioned, however at 44 billion difficulty most of the old 1.2 watt units had to shut off
Therefore, if difficulty doubled, most 1 watt units would have to be shut down and therefore another $161 million would be needed to replace them as well; net $322 million up front costs
Current Bitcoin price $225 makes this level of new investment impossible, because the profits per Bitcoin are insufficient to fund such investments.
Annual production of BTC this year value at current prices (3600 times $225 times 365 days) $295,650,000.
Most Bitcoins are never available to buy, under 30% reach the open Fiat Currency exchanges, which will be under $88,695,000 to fund hardware, labor and electricity costs. Nowhere, near close enough to fund the doubling of network hashpower.
QED. Difficulty will not double this year, but stay under 50 billion difficulty range
Very useful analysis. Thank you. It also seems that the hardware manufacturers just don't have the same incentive to innovate and invest in creating ever more powerful ASIC right now.