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Title: Smart Miners: @ Difficulty Jump, it's often more profitable to mine PPC vs BTC Post by: coolbeans94 on October 21, 2013, 03:11:34 AM Mining Peercoin currently yields about .7 PPC per day or about $0.20 per GH.
When Bitcoin difficulty increases, it could drop BTC yields below $0.20 per GH. As BTC prices currently don't keep up with its difficulty rise, it can sometimes make sense to make a mining switch. See the blow chart illustrating the drop in BTC profitability: https://i.imgur.com/DJvxrtE.png Source: http://blockchained.com/ (http://blockchained.com/) And these charts show that when BTC increases a lot in difficulty, PPC is usually more profitable for a period of time. http://bitinfocharts.com/comparison/miningtobtc-btc-ppc.html (http://bitinfocharts.com/comparison/miningtobtc-btc-ppc.html) Smart miners can/do take advantage of this. :D Title: Re: Smart Miners: @ Difficulty Jump, it's often more profitable to mine PPC vs BTC Post by: Noruka on October 21, 2013, 02:45:35 PM i would like to think any moderate to advanced miner would know to switch coins and trade up to BTC if it was more valuable. There are loads of resources that can be used to see which coin is the best when the BTC difficulty rises.
Title: Re: Smart Miners: @ Difficulty Jump, it's often more profitable to mine PPC vs BTC Post by: GigaWave on October 21, 2013, 03:21:22 PM As BTC prices currently don't keep up with its difficulty rise, it can sometimes make sense to make a mining switch. Remember, price controls difficulty. Not the other way around. And everything is a complete mess right now, and will continue to be so for a least a few more months. Title: Re: Smart Miners: @ Difficulty Jump, it's often more profitable to mine PPC vs BTC Post by: Rogue5pawn on October 23, 2013, 09:20:34 AM As BTC prices currently don't keep up with its difficulty rise, it can sometimes make sense to make a mining switch. Remember, price controls difficulty. Not the other way around. And everything is a complete mess right now, and will continue to be so for a least a few more months. I would concur that price and difficulty could be considered correlative, but there are other factors involved like media exposure, for esample. The more BTC makes the news, the more people get interested and believe that they could see some benefit from their home PC's.... Of those, some will quit and others will invest in better hardware. It is the latter that increase the Network hashrate along with current miners that need more/better hardware to continue to remain profitable, which in turn causes the difficulty to increase every 2016 blocks (which will be, as I write this, in 655 more blocks at an average rate of ~ 8.25 blocks per hour). http://bitcoincharts.com/bitcoin/ (http://bitcoincharts.com/bitcoin/) On the other hand, difficulty is determined by expected block time versus actual block time in a very fun formula explained quite well here: http://bitcoin.stackexchange.com/questions/5838/how-is-difficulty-calculated/5840 (http://bitcoin.stackexchange.com/questions/5838/how-is-difficulty-calculated/5840) To find out what the current Network hash rate is: found/expected*diff*2^32/600. You can find input values for this formula from the previous links. So, yes, for those of us who can no longer compete even by being with one of the large pools, switching to other coins is proving to be more sustainably profitable over time.... until those Scrypt ASICs hit the market..... then the race starts all over again. http://majesti.co/cryptonerd/new-scrypt-asic-miner-announced/ (http://majesti.co/cryptonerd/new-scrypt-asic-miner-announced/) |
