Bitcoin Forum

http://bitcoin.sipa.be/speed-lin.png

Every time Avalon ships, there is a huge jump  :o

Hi johnyj,

If you are interested in guessing future difficulty, please come and check our game! http://btcfarseer.com

We just built this, if you are interested, please help us to improve and we will keep refining it. More details are in this post: https://bitcointalk.org/index.php?topic=223850.0

who the heck is 71.178.24.197 ?

http://anonymouse.org/cgi-bin/anon-www.cgi/http://anonymouse.org/cgi-bin/anon-www.cgi/http://img442.imageshack.us/img442/7031/imageqa.png (http://imageshack.us/photo/my-images/442/imageqa.png/)

Interesting supposition.... i suppose anything is possible....
Wonder how worth it will be when I actually see an ASIC :/

All the more reason to be part of the ASIC wave.  If you don't keep up, you get left behind.

But the ROI on ASIC's ordered today is negative(*)! So if you try to keep up you will actually fall even further behind than where you started from!

(*) With the possible exception of the DIY chip purchase schemes.

I feel sorry for those who pre-ordered one from BFL.

Or I can keep happily mining my litecoins with GPU's, wait 1 year and get ASIC's for cheep once the demand drops and availability rises.

I don't need to pay 10x what it's worth for beta testing + all the stress that comes with it...

Or even worse, giving money to BFL.

IP Address appears to be on Verizon FIOS in Herndon, VA, but can't tell much more than that.  Don't know if any of the pools are located there.

Sure, when proven developers release their second generation of machines that are much faster than those shipping now

or much cheaper

No, you missed out. No developer will ever make a machine that is cheap enough to make much off of it. If it is a good deal, everyone will buy and difficulty will rise to compensate. From now on, mining is going to be a arduous, low-return game. The easy money is gone.

I'm really sad that this is happening.  I'm looking for solutions.  It's not easy though.

Look at that graph and the storm has not even started

This will be the end of bitcoin

Soooo many people spending hard earned money on a pre order that will be as good as a door stop by the time they get it.

All this greed will leave bitcoin unpopular when the average person cannot make a profit = price smashed down.


Back the real stocks .

vaporware is even more of a gamble.

what goes up must come down, plus difficulty follows price. . . price did the same a few weeks ago.

I made a calculation once, using difficulty, BTC/USD, power usage and power cost as input.  Consider hardware cost as zero because for some who have mined for a long time, mined bitcoins have covered hardware cost.

Assume: BTC/USD = 120.  1200 MH/s for 2x 7970 cards.  Power cost = $0.1/ kwh.  Power usage = 650 Watt.  Making less than $0.5 is no longer considered profitable.

Find breakeven difficulty. 

Difficulty = approximately 34 million.  So at 34 million difficulty, it's time to turn off the GPU miners.

This site says the IP 71.178.24.197 comes from Reston, Virginia: http://my-ip-address-is.com/ip/71.178.24.197

That's 20 miles from Washington, D.C.

US Government mining pool?

The only way to control Bitcoin is to have 51% of the mining power or have a ton of them to trade...

650w? my 4x7950@530KH/s rigs pulls 700w mining scrypt and that's with me overclocking them, I'm aiming for 4KH/W once I start optimizing the rigs. It's good to know how inefficient the competition is when everyone starts switching to LTC.

I miss all the discussion on this forum about maximizing efficiency we used to have a year ago, maybe I should come back in a few months.

That's just the first IP to inform blockchain.info of the block; not the ip that found it.

Right now maximum efficiency is buying ASIC chips.  :)

Ha ha no kidding. I my 4 7970's in two different rigs use 650-700W! And I pay HALF of that in electricity (0.06cents/KWh). I am pumped to learn at how inefficient some people are, ROFL.

what? your math is wrong as fuck
right now, it is easy to make 100 euro of profit in one month(0.13kWh/euro), with just two 7950, mining scrypt coin
aka gpu will survive for a year at least

for me asic are non-existent until they stop with this pre-order shit, and give us available products which are ready to ship

There's around 1000 Th/s set to be brought online:

Avalon chips = 250 Th/s
Avalon systems = 100 Th/s
ASICminer = 250 Th/s
BFL = 300 Th/s
BitFury = 200 Th/s
KnC = 200 Th/s

Those estimates are based on the following:

ASIMINER said they initially bought 50 TH/s. They recently said they've got 200 Th/s incoming.
The Avalon systems number is based on the 3 batches and the number for the chips is based on the amount of BTC in the chip account.
The BFL number is from the 75,000 chips @ 4 Gh/s.
The BitFury number comes from 100TH.
The KnC number comes from the 500 pre-orders, assuming all Jupiters and a bit extra

I'd say it'll be around the end of the year when the network hash rate hits 1000 TH/s. The companies making devices simply can't make them quick enough to get over a 1000 Th/s out by Autumn.