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We had a drop in the hash rate for about two weeks. That's why it's taking slightly longer to get the required number of blocks. Then the hash rate went way up. No idea why. Maybe one of the big mining farms was doing an equipment upgrade and shut down for the changeout. The difficulty adjustment tomorrow will probably be 1-2%, much smaller than last time.
I wonder if the drop was when Butterfly labs was shut down by the US government but then given the ok to run limited again. Maybe their server farm was down for that time but is back up now.
My cubs are no longer overclocked as of the last dif change. It was generating to much heat for not much gh in my server room. I wont be turning them off any time soon as I just want to be part of the network. But I also wont be getting anything newer unless the mining world gets less completive and I cant se that happening.
Surprisingly I have made just over 1.5 btc with two cubes and I paid .7 per cube. So I may have made a very small amount of money depending how you look at it.
Surprisingly I have made just over 1.5 btc with two cubes and I paid .7 per cube. So I may have made a very small amount of money depending how you look at it.
You can do it with this miner as he posted his monthly operating costs.
https://bitcointalk.org/index.php?topic=507568.0
as 8000 per month. When btc are 415 I calculated he would be bringing is about 9700 this month but I could be way off. The alt coins mining is harder to get a number. So for this miner and I don't know how typical he is lets assume he paid off all this hardware costs when btc was higher and difficulty was lower is getting very close the not making money any more with existing equipment.
https://bitcointalk.org/index.php?topic=507568.0
as 8000 per month. When btc are 415 I calculated he would be bringing is about 9700 this month but I could be way off. The alt coins mining is harder to get a number. So for this miner and I don't know how typical he is lets assume he paid off all this hardware costs when btc was higher and difficulty was lower is getting very close the not making money any more with existing equipment.
Re: Next difficulty ~3,750,000,000? Tracking difficulty since 145,000,000.
It looks like we are going to have a very small increase this time 
Even 10% increase ATM is big increase. 300kk+ increase is not very small I think it is just interesting that the expansion may not be exponential as predicted. Still a huge jump but may change things as all the btc profit calculators go on 20% to 30% every 12 days forever.
And it's only first week of March. Some people were predicting it will go like this until summer at least. I can't wait to see the next 3-4 jumps, but i think that the big jumps aren't over yet. I assume we will see some big jumps between May and end of June and after that it will cool off.
I agree it seems to soon to be slowing down but wouldn't we all love to be wrong.
Re: Next difficulty ~3,750,000,000? Tracking difficulty since 145,000,000.
It looks like we are going to have a very small increase this time
Even 10% increase ATM is big increase. 300kk+ increase is not very small I think it is just interesting that the expansion may not be exponential as predicted. Still a huge jump but may change things as all the btc profit calculators go on 20% to 30% every 12 days forever.
Re: Next difficulty ~3,750,000,000? Tracking difficulty since 145,000,000.
Still a long way to go but so far this is the smallest increase in network hashrate that I have seen in a while...when the diff went to 3.8 on Feb 28 hashrate was 27.3. Right now it's 28.8 and block generation is at 9.6 minutes...it usually goes down to 9 minutes almost right away.
I noticed that also. Very strange I think we have a long way to go yet before we lvl off this could just be to soon to tell in this 12 day cycle. But it is very interesting if we se a bit of a trend change.
yes but never...
Good thing it didn't say that.
There is another situation where the difficulty could go down. You se it all the time in altcoins like litecoin. If another SHA256 coin we to be more profitable to mine people would point their miner to that coin reducing BTC difficulty. But I don't se any SHA256 coins even remotely close to BTC. Most alts are script to try and avoid the arms race we se in BTC now. lots of competition in scripts no competition in SHA256.
Thank you for the update. Very informative.
You factor broken gear, but what about decommissioned hardware ?
When difficulty will go up, old hardware (1-100Gh/s) will eventualy be sent to the trash.
It may amount to 1-5 Phs.
I doubt they'll hash forever, even if some people have access to free power.
Eric
You factor broken gear, but what about decommissioned hardware ?
When difficulty will go up, old hardware (1-100Gh/s) will eventualy be sent to the trash.
It may amount to 1-5 Phs.
I doubt they'll hash forever, even if some people have access to free power.
Eric
I think by the time hardware is decommissioned it will be so small as to not be noticed. For example if you try to find when cup mining stopped or gpu mining stopped. If everyone turned off their 300kh usb keys difficult will go up by 25% vs 25.3% next change. When 10gh blades are turned off it will be and increase of 25% vs 26% at next difficulty ect.
Im just getting into BitCoin mining and was wondering if it would be worth getting the Jalapeno 5 GH/s mining hardware? I would also be getting a solar power setup making the cost of mining minuscule-nothing. How long would it take for Jalapeno to make itself up or is there any better equipment for a reasonable price? All the information I can find is from 6-12 months ago when people were guesstimating difficulty rises, but when it comes to present day I have no idea what I should or shouldnt buy. ANY info at all would be a GREAT help! Thanks!
Solar is not cheep by any means unless you are getting it free. It will increase your capital investment giving you more you have to pay off before you break even. I have a very high end solar system on my sailboat and it works well but not for running heaters 24 hours 365 days a year. Do a lot of research on solar and its pricing and required components and output. Solar is not the magic solution a lot of people make it out to be.
I wish BTC had a bit of competition like LTC has then we could see a drop off. LTC hash rate has had big drops as people point to other alt coins. There are other alt coins you can point ASKI hardware to but I don't know how low bitcoin would have to go for them to be more profitable. But if BTC did drop to that lvl it would do way more harm than good. The last thing you want as a miner is a price drop with the way things are now.
I think he may be making fun of miners. Buy a 5000 dollar miner and get 2500 back before the difficulty and power costs overtake you. He is just saying give him money and he will give you half of it back in a few weeks.
I would think all the new business who take bitcoin(tiger and overstock) but sell them ASAP may be overwhelming the buyers and driving the price down a bit also. But all things considered not as much movement as in the past. A 50% drop on bad news was the norm not that long ago.
Well ehar is the risk if you can just resell the asic
I don't understand your question.
So where do i start
Where you start depends on what you want, and how much risk you want to take to get it. The better you understand bitcoin the better your odds are of making money just like any business. But it is not simple or ease just like everything in the world that will make you money. Educate yourself and a good way to do that is to start mining so you have skin in the game. But don't be under the allusion it is get rich quick or a guarantee and you will do just fine.
+22.5%
jesus
jesus
I am just happy it isn't 30%+ and that is a bit sad that i am happy to see 22.5.
I still say the h/w guys are screwing miners. I read 100 threads a day about how no one can get the very expensive equipment that they pre-ordered months and months ago yet the network hashrate is going up insane amounts.
I agree the next 6 to 9 months will be insane. Miners are screwing themselves and the h/w guys are benefiting. It will self correct in a few months but like everything there will be no ease money for the average person and their shouldn't be.
As for pre-orders if everyone shipped today the diff would be 7 to 10b in a mater of hours so wither they ship now or 6 months from now it is all the same. Only if sum ship now but not all will anyone make any quick money. It is a race and only the first few get the big returns.
But for 2200 dollars what can i buy that will garuntee roi and profit
You won´t get a guarantee on roi for any mining hardware. That´s the problem in the mining "business"
There is no such thing as a grantee on any investment mining btc is no different. BTC is just also wildly speculative on top of no guarantee.
+22.5%
jesus
jesus
I am just happy it isn't 30%+ and that is a bit sad that i am happy to see 22.5.
If everyone went solomining I think it could effect the diff. The hashrate is still the same, yes, but diff is not calculated from hashrate, but from the time it takes to find 2016 blocks.
it won't happen, but we can talk about that here, it's speculation thread
it won't happen, but we can talk about that here, it's speculation thread
I hope i wasn't suggesting we shouldn't discuss it just that it is a bit out there. I would put pool mining stopping on the same leval of speculating what would happen if every bitcoin hardware manufacture went out of business. If either were to happen it would be because of another huge influence that would be way more devastating or innovative.
It's not a paradox. Miner manufacturers have to set a price for the miner. If a miner will make 1.0 BTC over its lifetime, it is silly to sell it for less. In fact they want to sell it for as much as they think people will pay. People aren't really good at math and so they can price these things at 1.5 BTC and they sell out.
Generally I agree with you but I would think some may sell for less than it could make. The key word is it could make 1btc over its lifetime it is all just speculation. It could also make .5 or less likely 1.5. but if they sell it to us today they get what it may make over its life right away and no risk. Even better is they get you to pay for it before it even exists. So they get what a miner may make before they even make it. It is a very impressive business model.