Post
Topic
Board Beginners & Help
Re: Mining Economics
by
coinvestor
on 10/07/2011, 04:05:26 UTC
Didn't mean a couple of days. Allow me to familiarize you guys with a term I coined. I believe that the next bitnight will be longer than 14 days. A bitnight is the amount of time it takes to solve 2016 blocks. There's no proof that for every miner that drops, three come on. The numbers aren't showing that at all right now.

The network hash is just barely greater than the target network hash. Every person entering the mining operation right now is probably doing it based on long-term investments. Now is conceivably the best time to enter since before June.

Admittedly, a small increase in difficulty is better than none at all in my opinion. Increases prove the speculative value. I just think the overall health of the economy isn't going to support an increase during this bitnight phase.

Coinvestor (Ryan)