So you guys really think there will be an additional $92,000,000 (give or take 10,000,000) invested in mining by the end of the year?
how are you calculating that number?Well, based on some stats about Avalon group purchase costs:
10,000 avalaon chips are capable of 2.82 TH/s.
10,000 chips costs 782.1 BTC (or thereabouts) this is roughly $78,210
In the past, it has taken 7.15 TH to increase the network difficulty by 1 million
7.15 TH/2.82 TH = 2.53 avalon batches of 10,000 chips.
Convert into dollars at 1 btc = $100.00: 2.53 * $78,210 = $197871.3
so that is $197,871.3 worth of only chips (no boards included) to increase network difficulty by 1 million.
TheJuice (and apparently, powpow) predicts a 576 million difficulty by December 29th... this is about 540 million higher difficulty than it is now:
540 * $197.871.3 = $106,850,502, which is probably on the high side of how much it would cost (assuming there are people who can get hashing power for a little cheaper)
Obviously, this is just a ball-park figure.
You do realize 576,000,000 diff / 131,384 (amount of diff in every TH,approx)=4385 TerraHash right ?? By December ??
If this is true,EVERYONE,not just us little guys are EXTREMELY screwed
I don't think it will be that high for more than 2 years from now or even 3 or 4 years....I sure hope I'm right
