Title: Difficulty Decrease! Post by: tysat on August 30, 2011, 05:17:44 AM From 1806098.30 -> 1777774.48 making it the second decrease in a row! Sure is nice to know I can still mine at a decent rate.
Title: Re: Difficulty Decrease! Post by: deepceleron on August 30, 2011, 05:26:45 AM The above was just a guess from somewhere; The actual difficulty is in: 1,777,774.482001
http://blockexplorer.com/b/143136 I'll just leave this here:
Title: Re: Difficulty Decrease! Post by: tysat on August 30, 2011, 05:38:21 AM The above was just a guess from somewhere; The actual difficulty is in: 1,777,774.482001 http://blockexplorer.com/b/143136 Good call, it had showed the new block number so I assumed it was the correct difficulty. I edited my first post to be correct. Title: Re: Difficulty Decrease! Post by: Ricochet on August 30, 2011, 05:43:42 AM The difficulty level *has* decreased in the past, ya know. This time, it's most likely due to the Irene storm. It will probably go back up in the next 2 weeks, don't you worry.
Kinda makes me wonder what would have happened if Bitcoin started out with the GPU miners that Namecoin/ixcoin/iocoin/WHATEVER already had to begin with. Methinks it wouldn't have worked out nearly as smoothly. Title: Re: Difficulty Decrease! Post by: tysat on August 30, 2011, 06:07:01 AM The difficulty level *has* decreased in the past, ya know. This time, it's most likely due to the Irene storm. It will probably go back up in the next 2 weeks, don't you worry. Kinda makes me wonder what would have happened if Bitcoin started out with the GPU miners that Namecoin/ixcoin/iocoin/WHATEVER already had to begin with. Methinks it wouldn't have worked out nearly as smoothly. I know it's decreased before, but not many times and this is the first time it's decreased twice in a row. Title: Re: Difficulty Decrease! Post by: Ricochet on August 30, 2011, 06:16:02 AM Okay, so it's decreased for 4 weeks instead of 2. I still wouldn't worry too much about it, to be honest.
In other terms (via your avatar), it took how many years before the Vince Lombardi Trophy came back to Green Bay? You can't let the temporary downturns distort your ultimate goal of success. (...go Pack go...) >_> Title: Re: Difficulty Decrease! Post by: geek-trader on August 30, 2011, 07:06:34 AM Okay, so it's decreased for 4 weeks instead of 2. I still wouldn't worry too much about it, to be honest. ... I'm not worried, I'm fucking happy! If you are a miner, you have 2 risk factors. The price and the difficulty. If the diff is going to level out at around where it is now, I'm fine with the price doing the same. (tho 10 or11 would be better) ;D Title: Re: Difficulty Decrease! Post by: tysat on August 30, 2011, 07:11:57 AM Okay, so it's decreased for 4 weeks instead of 2. I still wouldn't worry too much about it, to be honest. In other terms (via your avatar), it took how many years before the Vince Lombardi Trophy came back to Green Bay? You can't let the temporary downturns distort your ultimate goal of success. (...go Pack go...) >_> I never said I was worried! Just trying to spark some discussion is all. Title: Re: Difficulty Decrease! Post by: silverchair on August 30, 2011, 07:39:16 AM Its Worry-free, just a slight decrease :)
Title: Re: Difficulty Decrease! Post by: AtlasONo on August 30, 2011, 01:50:20 PM Growth has been slowing pries have been dropping and we've been close to a decrease for a while now.
Title: Re: Difficulty Decrease! Post by: ElectricMucus on August 30, 2011, 02:00:06 PM The drop is marginal and with current outlook this might be it.
We are still at 94.12% of the ath. Title: Re: Difficulty Decrease! Post by: Gabi on August 30, 2011, 02:27:59 PM Summer (GPUs off due to overheating) + Irene (some days at 10Thash/s or less) + low price...
Title: Re: Difficulty Decrease! Post by: gw4tt on August 30, 2011, 06:54:56 PM Also, a lot of people are mining other blockchains. I haven't mined bitcoin for awhile now, been mining i0coins, ixcoins, solidcoins.
much more profitable compared to bitcoin. Title: Re: Difficulty Decrease! Post by: AssemblY on August 30, 2011, 08:39:15 PM However the stats says that the difficulty will increase by 12% in 11 days. :(
Let's enjoy these few days to mine hard ;) Title: Re: Difficulty Decrease! Post by: mike678 on August 30, 2011, 09:02:52 PM However the stats says that the difficulty will increase by 12% in 11 days. :( Every time this needs to be explained...Let's enjoy these few days to mine hard ;) The estimate at the beginning of a new difficulty is not accurate. It takes several days for even a relatively close estimate to come out. Title: Re: Difficulty Decrease! Post by: eleuthria on August 30, 2011, 09:45:07 PM The major cause of this week's drop was the introduction all the forkcoins in the last two weeks. Between I0Coin and Solidcoin, we were missing 500 GH - 1 TH/s on the network for a large portion of the last two weeks. Even with that large batch of power missing, the decrease was minor.
The BTC price also fell a bit over the last two weeks, so we'll see if we get a fairly large increase after this difficulty finishes (most the fork coins are dying off, and no new ones are in sight). The miners with higher power costs are starting to turn off GPUs as the price dips lower, so it's going to be interesting to watch how the BTC network behaves. Title: Re: Difficulty Decrease! Post by: AssemblY on August 31, 2011, 02:55:33 AM However the stats says that the difficulty will increase by 12% in 11 days. :( Every time this needs to be explained...Let's enjoy these few days to mine hard ;) The estimate at the beginning of a new difficulty is not accurate. It takes several days for even a relatively close estimate to come out. Is true, in the last difficulty update indicated further increase, but decreased. Is very relative. Now the prediction is +5.5% :-\ Title: Re: Difficulty Decrease! Post by: silverchair on August 31, 2011, 04:38:32 AM Bitcoin has its ups and downs also.
Title: Re: Difficulty Decrease! Post by: mdbitcoin on August 31, 2011, 05:14:08 AM I'm in agreement. I expect difficulty averages would level around here since mining profitability has been seriously thwarted for anyone investing in new equipment, while 7-day moving averages have lowered, and summer electric rates are still in effect (at least for part of the U.S. anyway). ROIs have converted from months to years with the edge too close, especially with exchange rates so volatile and testing new lows. ROIs can flip from positive to negative within a few hours and that should scare a number of higher cost miners out.
Title: Re: Difficulty Decrease! Post by: mike678 on August 31, 2011, 05:34:59 AM ROIs have converted from months to years with the edge too close, especially with exchange rates so volatile and testing new lows. This isn't true roi is still in the months category. I'll use my 5850 machine for example. Its a rig with 5 5850's and cost me 1,375 to build. It can generate 1,900 megahash and requires 1kw.That generates me 1.0750 btc a day which is 290 a month. At 8.5 cents per kwh (cost for me) it costs 61 per month. Which gives me a profit of 229. Thats 6 months and lets be honest in 6 months the price could easily go up. If you save your coins and wait and at any point it reaches 20 dollars a coin you will have roi in 2.3 months. Keep in mind it only has to hit this once for you to drastically cut your roi. So like I said roi's don't take years to recover. Title: Re: Difficulty Decrease! Post by: Syke on August 31, 2011, 05:57:01 AM That generates me 1.0750 btc a day which is 290 a month. At 8.5 cents per kwh (cost for me) it costs 61 per month. Which gives me a profit of 229. Your electricity costs are significantly below the US average. Many of us are not so lucky. |