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Title: What happens if this hardware crunch keeps going? Post by: AverageJoe on May 25, 2011, 10:26:38 PM Hello, new member/first post, etc.,
So from all indications I've read, this ever-faster speeding treadmill with hardware will not slow down, but rather expand exponentially. This is disturbing me because only super farms will be able to make any kind of money out of it and generally seems like a pointless waste of good computing if trends continue. Either that, or some kind of a plateau will happen, or there just won't be enough computing power around that people will feel comfortable investing in. Shit, whatever...I guess I might hang around til' the ship sinks. I might be surprised as to what trick someone has up their sleeve. -Joe Title: Re: What happens if this hardware crunch keeps going? Post by: MoonShadow on May 25, 2011, 10:29:16 PM The miners are responding to the rise in the market price of Bitcoin. If the price stalls, so will the rise in difficulty. If the price falls, the difficulty will slowly drop off to meet it. Changes in difficulty tend to follow changes in price with a 6 week lag.
Title: Re: What happens if this hardware crunch keeps going? Post by: EPiSKiNG on May 26, 2011, 01:11:31 AM The miners are responding to the rise in the market price of Bitcoin. If the price stalls, so will the rise in difficulty. If the price falls, the difficulty will slowly drop off to meet it. Changes in difficulty tend to follow changes in price with a 6 week lag. Check this out: http://forum.bitcoin.org/index.php?topic=7427.0 It seems as though the price per BTC in USD tends to follow the difficulty with an upward trend... Granted, the most recent difficulty changes (ie, past 30 days) have been pretty steep, the price seems to have a higher rate of trend than the difficulty in these peak times, so I'll mine until the cost outweighs the benefits, or the value of the hardware changes. -EP Title: Re: What happens if this hardware crunch keeps going? Post by: marcus_of_augustus on May 26, 2011, 01:20:03 AM Open-loop feedback ... this thing is out of control!!!!!! It's gonna consume all the computing resources on the planet and then eat the moon and the sun ... and then what will happen to carbon emission, huh? Have you thought about that? Most likely it is gonna get so big no-one's gonna fuck with it .... which was the intention methinks. Title: Re: What happens if this hardware crunch keeps going? Post by: epi 1:10,000 on May 26, 2011, 01:22:44 AM Open-loop feedback ... this thing is out of control!!!!!! It's gonna consume all the computing resources on the planet and then eat the moon and the sun ... and then what will happen to carbon emission, huh? Have you thought about that? Most likely it is gonna get so big no-one's gonna fuck with it .... which was the intention methinks. |