Bitcoin Forum

Current Blocks: 139811
Current Difficulty: 1888786.7053531
Next Difficulty At Block: 141119
Next Difficulty In: 1308 blocks
Next Difficulty In About: 1 week, 2 days, 2 hours, 43 minutes, and 36 seconds
Next Difficulty Estimate: 1886589.36771935

Cheers,
Kermee

A negative difficulty? Whoa, I've been waiting for this for a LOOOOOOOOOOOONNNNNNNNNNNNNNNNGGGGGG time. Now the network won't be able to mine ANY blocks! ;D

You solve more blocks by turning miners OFF!

Corrected title ;)

And new estimate: 1884022.57506567 (-0.25%)

Everyone moving to NMC?

Cheers,
Kermee

It might finally drop a bit because at current price levels casual miners are out of the game. A typical miner with a 300mhash card is only making $1.6 per day before electricity.. Minus pool luck, exchange rate fluctuations, etc.

Casuals used to be a pretty big part of the mining force.
The only people left are those who will mine regardless of profits or electricity costs, and farms which are still profitable due to the sheer amount of hashing power (worthwhile to keep the machines running)

I'll keep mining even at 3m difficulty because I believe $9 is a grossly undervalued price. It'll eventually go up significantly, no matter if that's 2 weeks, 2 months or 2 years.

Lot of people are selling their rigs and cards.  With costs of electricity, undervalued price of btc, all the hackings and just time to keep rigs running--have caused many to say bye bye.  

Where are they selling? Ebay, Craigslist and the Goods section here have not shown a significant uptick in listings for GPUs or rigs.

Already have

A cursory check of the Goods section of just this forum shows that 22% of the listings on the front page are for selling rigs or video cards. 

The difficulty does not decrease due to more hashing power being added :)

i turned my miners of after mybitcoin went down. I had 6 5850ati running for month's I live in England so heat was not so much of a problems ,noise was though and the electric bill. I don't feel its worth the effort anymore. i am gutted that i have lost my bitcoins.
But shit happens and i still think bitcoins are a great idea.

1864707.34482746 (-1.27%)

Looks like we might actually drop...

Cheers,
Kermee

Where are you guys getting this info?

I've always blindly regarded bitcoincharts.com's estimations and they're saying
Every site I've seen says relatively the same thing, but none of them say less than 1900000 for next increase.

http://dot-bit.org/tools/nextDifficulty.php

According to that site, it says next diff will be 1'735'592.65

http://blockexplorer.com/q/estimate

Cheers,
Kermee

Looks like there might be a need for a new site I'm developing!

Here's a snip...

https://i.imgur.com/aqlvu.png

Looks good link us when ready.

1805700.8361937

Looks like it was a 4.4% drop.

Cheers,
Kermee

The estimate for the next drop seems much lower than I would have thought:

1565638.73312961

Anyone know if such a low estimate is normal for a while after a difficulty change, or has the network really lost that much hashing power?

There's not enough 'sample' data yet.  Even before the difficulty change, a lot of pools were having 'bad luck' and it's been continuing after the change so the average # of blocks being solved per hour was lower than 6 which would make it appear that a ton of hashing power has left.

I'd wait at least another 24 hours to actually get a 'gauge'...

Cheers,
Kermee

Makes sense. For some reason

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I thought the estimates were all based on the last X blocks, rather than the blocks since the last difficulty change.

I hope it keeps going.

A lot of miners are selling their gear and moving to trading instead of mining. I plan to carry on doing both!

Makes sense really, you can make more in a good day of trading than a month of mining.