Post
Topic
Board Economics
Re: Difficulty.....It can't keep going up 30% each increase.
by
empoweoqwj
on 24/12/2013, 11:00:53 UTC
it only keeps going up as more mining power is added. if people stop adding rediculous amounts of power to the pool then the difficulty will drop. there were gentlemen's agreements proposed about things like this a while back. They go as far back as the transition from cpu to gpu.

https://bitcointalk.org/index.php?topic=12.msg54#msg54

you should tell this guy about the "gentlemans agreement "
by febuary he plans to have 15% of the hashing power  when he opens his new mining farms

http://ecreditdaily.com/2013/12/bitcoin-mining-iceland-hot-market-cooling-anytime/

Lots of miners plan to have 10% to 20% - it doesn't work out for any of them. Its called competition.