Post
Topic
Board Economics
Re: Difficulty.....It can't keep going up 30% each increase.
by
CoinCidental
on 24/12/2013, 11:29:54 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 have a look at the mining facility  he has built already in iceland near the artic circle
its pretty ingenious ,he uses the  an air intake from the ice under the building to keep the machines cool
and he gets his power generated  from cheap natural sources as well

seems to be a smart guy and he plans to build more of these  in differnt parts of the world next  year and
already got the funding for a new one in texas opening in feb



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.

this dude is no ordinary miner
you should have a look at the mining facility  he has built already in iceland near the artic circle
its pretty ingenious ,he uses the  an air intake from the ice under the building to keep the machines cool
and he gets his power generated  from cheap natural sources as well

seems to be a smart guy and he plans to build more of these  in differnt parts of the world next  year and
already got the funding for a new one in texas opening in feb