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Title: Quick question about difficulty on mining. Post by: carlitomayn on August 24, 2013, 03:25:24 PM Hi guys!
I've been involved with Bitcoins for a few months now, maybe even a year. I recently decided to get my first USB miner and have been using Bitminter to mine. This is just as a hobby for now and to see how it all works. When i started mining the difficulty was "50,810,339". Now i have realised that my miner says difficulty set to "65,750,060". I understand that this is because it's mining in a new block and difficulty increases but does this mean that the difficulty will stay at "65,750,060" forever or does it reverse back to the previous difficulty after the block is solved ? Thanks. 8) Title: Re: Quick question about difficulty on mining. Post by: oconnor663 on August 24, 2013, 05:38:40 PM The difficulty is adjusted based on how quickly previous blocks were created. The target is to have one block on average every 10 minutes. Roughly every two weeks, bitcoin clients look at the time between blocks for that period. If blocks have been coming faster -- like because more mining machines have been coming online -- the difficulty is adjusted upwards to slow things down again. I think the recent rise in difficulty is because a lot of people who ordered mining hardware a year ago are only just now receiving it. You should expect the difficulty to keep rising.
Take a look at https://en.bitcoin.it/wiki/Mining Title: Re: Quick question about difficulty on mining. Post by: rolling on August 24, 2013, 06:07:47 PM Hi guys! I've been involved with Bitcoins for a few months now, maybe even a year. I recently decided to get my first USB miner and have been using Bitminter to mine. This is just as a hobby for now and to see how it all works. When i started mining the difficulty was "50,810,339". Now i have realised that my miner says difficulty set to "65,750,060". I understand that this is because it's mining in a new block and difficulty increases but does this mean that the difficulty will stay at "65,750,060" forever or does it reverse back to the previous difficulty after the block is solved ? Thanks. 8) For the foreseeable future, it will just keep going up every 2016 blocks. I am predicting that it will be around 600,000,000 by the end of the year. Title: Re: Quick question about difficulty on mining. Post by: Real1Guy on August 24, 2013, 06:46:59 PM Hi guys! I've been involved with Bitcoins for a few months now, maybe even a year. I recently decided to get my first USB miner and have been using Bitminter to mine. This is just as a hobby for now and to see how it all works. When i started mining the difficulty was "50,810,339". Now i have realised that my miner says difficulty set to "65,750,060". I understand that this is because it's mining in a new block and difficulty increases but does this mean that the difficulty will stay at "65,750,060" forever or does it reverse back to the previous difficulty after the block is solved ? Thanks. 8) Dif is adjusting evry 20 days (+/- 2-3 days) almost every time it goes up from 20-28% so.. btc will be to dificult to mine in near future.. Title: Re: Quick question about difficulty on mining. Post by: rolling on August 24, 2013, 06:49:57 PM Dif is adjusting evry 20 days (+/- 2-3 days) almost every time it goes up from 20-28% so.. btc will be to dificult to mine in near future.. The target is every 14 days but it is really every 10-11 days now. Last was 8/13, this was 8/24, next is likely 09/04. Title: Re: Quick question about difficulty on mining. Post by: Buffer Overflow on August 24, 2013, 06:54:24 PM Next retarget is at block 256032.
Title: Re: Quick question about difficulty on mining. Post by: honky1492 on August 24, 2013, 06:57:13 PM This makes sence why there is such demmand for the USB block errupters
Title: Re: Quick question about difficulty on mining. Post by: tacoman71 on August 24, 2013, 07:50:06 PM This makes sence why there is such demmand for the USB block errupters Um if difficulty is skyrocketing, why would you get a miner that already has an uncertain ROI timeframe? |