Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: CJYP on June 26, 2011, 05:12:34 AM



Title: Negligible difficulty increase?
Post by: CJYP on June 26, 2011, 05:12:34 AM
I just looked at BTC Charts, and it's estimating a difficulty increase of only about 2500. Block generation is at 6.02/hr, just above optimal.
Is this because the influx of miners has stopped (and some even quit, since I saw over 8/hr yesterday), or is this just a blip in the data?
Basically, am I a total n00b or is this real?


Title: Re: Negligible difficulty increase?
Post by: mjsbuddha on June 26, 2011, 05:15:58 AM
I just looked at BTC Charts, and it's estimating a difficulty increase of only about 2500. Block generation is at 6.02/hr, just above optimal.
Is this because the influx of miners has stopped (and some even quit, since I saw over 8/hr yesterday), or is this just a blip in the data?
Basically, am I a total n00b or is this real?

difficulty may actually decrease. it has decreased twice before. we will see. it seems the miners from the $30 boom have all been set up.


Title: Re: Negligible difficulty increase?
Post by: Adam on June 26, 2011, 05:20:34 AM
I'm sure we'll see tomorrow what's what.  Hashing power seems to spike on the weekends as people have time to get their rigs online.  If we don't go over 6 blocks an hour it is possible that difficulty will decrease. 

But then if that happens people will plug a new difficulty growth rate into their mining profitably calculator, decide it is good again, and buy more new rigs.  I see it going up next change, but only by around 10%.


Title: Re: Negligible difficulty increase?
Post by: AngelusWebDesign on June 26, 2011, 05:41:26 AM
Eventually people react the opposite way (kind of like "full circle"), just like they do with the Stock Markets.

Stock market up? It means the economy is doing good.
Stock market down? It's because the dollar is stronger, which is good.
Stock market sideways? That's good, it means we're building support for the next run-up.


Title: Re: Negligible difficulty increase?
Post by: triforcelink on June 26, 2011, 09:40:38 AM
I don't see it slowing down much, there are still massive profits to be made. After we come out of this daze caused by the major difficulty jump, we will be right where we left off.


Title: Re: Negligible difficulty increase?
Post by: Findeton on June 26, 2011, 10:01:48 AM
I LOVE negligible difficulty increases. Stop thinking in dollars, you want bitcoins!