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Title: Feb 2013 1 GH/s = Feb 2014 1 TH/s! Post by: o999 on March 01, 2014, 10:40:21 PM I just noticed...
Feb 28 2014 difficulty = 3,815,723,799 on Feb 28 2013 difficulty = 3,651,012 That's a 1,000+ times increase, so a 1 TH/s miner today is only mining as many bitcoins as a 1GH/s miner 12 months ago. Over the same period the bitcoin price has only increased about 20 fold (~$30 to $600). Let's hope this rate of increase doesn't hold up for all of 2014, or in 2015 we'll be looking at ~0.004 BTC/month from a 1 TH/s miner! Title: Re: Feb 2013 1 GH/s = Feb 2014 1 TH/s! Post by: Meuh6879 on March 01, 2014, 10:45:04 PM and what the problem ?
miner is just to flow the transactions ... not to win BTC. Title: Re: Feb 2013 1 GH/s = Feb 2014 1 TH/s! Post by: hammurabi on March 01, 2014, 10:51:54 PM I just noticed... Feb 28 2014 difficulty = 3,815,723,799 on Feb 28 2013 difficulty = 3,651,012 That's a 1,000+ times increase, so a 1 TH/s miner today is only mining as many bitcoins as a 1GH/s miner 12 months ago. Over the same period the bitcoin price has only increased about 20 fold (~$30 to $600). Let's hope this rate of increase doesn't hold up for all of 2014, or in 2015 we'll be looking at ~0.004 BTC/month from a 1 TH/s miner! Ever wondered where do stars come from?! Like our Sun? Alpha Centauri and billion of others? All were planets like Earth with oceans, rivers, blue skies... until bitcoin showed up and turned every their atom into a hot burning mining rig! Some of these celestial bodies were very successful and developed massive Block Eruptors which collapsed into their blockchain creating massive black holes in the process. So, I don't think it will stop any time soon! :) Title: Re: Feb 2013 1 GH/s = Feb 2014 1 TH/s! Post by: LiteCoinGuy on March 01, 2014, 11:41:55 PM I just noticed... Feb 28 2014 difficulty = 3,815,723,799 on Feb 28 2013 difficulty = 3,651,012 That's a 1,000+ times increase, so a 1 TH/s miner today is only mining as many bitcoins as a 1GH/s miner 12 months ago. Over the same period the bitcoin price has only increased about 20 fold (~$30 to $600). Let's hope this rate of increase doesn't hold up for all of 2014, or in 2015 we'll be looking at ~0.004 BTC/month from a 1 TH/s miner! in one year we will have "only" 12000 USD :P Title: Re: Feb 2013 1 GH/s = Feb 2014 1 TH/s! Post by: vnvizow on March 02, 2014, 12:26:34 PM Someone needs to invent a time machine so we can take current technology back to when bitcoin started and we'll all be rich, as well as warn people of MTgox ;D
Title: Re: Feb 2013 1 GH/s = Feb 2014 1 TH/s! Post by: SomeoneInNeed on March 02, 2014, 01:13:39 PM Soon there will be mining corporations which will have massive hashing power. Because most of us wouldn't be able to afford the miners.
Title: Re: Feb 2013 1 GH/s = Feb 2014 1 TH/s! Post by: cloverme on March 02, 2014, 05:44:45 PM Soon there will be mining corporations which will have massive hashing power. Because most of us wouldn't be able to afford the miners. That's pretty much already happened, check out this article: http://www.datacenterknowledge.com/archives/2014/01/21/bitcoin-infrastructure-mining-data-center/Title: Re: Feb 2013 1 GH/s = Feb 2014 1 TH/s! Post by: S4VV4S on March 03, 2014, 02:24:52 PM Soon there will be mining corporations which will have massive hashing power. Because most of us wouldn't be able to afford the miners. That's pretty much already happened, check out this article: http://www.datacenterknowledge.com/archives/2014/01/21/bitcoin-infrastructure-mining-data-center/+1 Several governments are already in to this ;) You know what they say, If you can't beat them.... Title: Re: Feb 2013 1 GH/s = Feb 2014 1 TH/s! Post by: user311 on March 03, 2014, 10:27:24 PM Quite ridiculous if you ask me. Articles like these only reflect the greediness of mankind. All that wasted material being used to calculate meaningless equations for some number to show up on your computer for something that just so happens to be of value now. Too bad ripple (XPR) is centralized.. They had a good idea to include BOINC with their projects to help people. To imagine this person would have dedicated his money and creativity towards the health sector.
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