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how long until difficulty 1000
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if you look at the blocklist ioguild is reported my shares as 0... wtf? these can't all be stale
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okay it's reporting the shares are received but not showing them, i don't know what's going on
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Either btcguild is lagging really far behind, or the chain has already been forked going considerably far back. They're still showing themselves as winning every block, which I can see isn't the case. Their block count from their pool server is also lower than what my client is showing.
maybe they disconnected and will reconnect at higher difficulty when they have overtaken the solos okay, but where the fuck are my shares going to then? i have like 40 new shares and btcguild is reporting none of them |
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btcguild is not showing any new shares either but my miners are getting them
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I predict there are several blockchains all more than 120 blocks apart, bitcoin doesn't know how to 'orphan' block chains with so much difference, this will create a clusterfuck of seperate blockchains that cannot be reconciled. This was an abortion, it should have had difficulty 10000 to start.
no, this is great, i got a bunch of blocks |
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it looks like it's about 3 shares/block right now on i0.btcguild.com
Every single one shows 1 to me... Also, what the hell is going on ? I0Guild is saying it has been 18 mins since the last block :S freenode k-lined them?? lol... they're coming up every second for me |
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Uh.. WTF just happened? ALL of my blcoks just disappeared along with my entire balance.
blocks were invalidated p2p |
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it looks like it's about 3 shares/block right now on i0.btcguild.com
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Just got one block from btcguild
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difficulty should not have been started so low ugh
We're at difficulty 2 (or whatever the next one was) now
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3 shares, zero blocks, 1/2 GH/s
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For f##k sake guys... I'TS UP 30 SECONDS AFTER MY RIG CRASHES!
Im now on my phone and can't get my pc to start D':
not up, still waiting on the genesis block |
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i0coin hasn't released genesis block
not sure what they're waiting for
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Onwards and upwards, we're pushing 0.05/3min, geez
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No, this is nuts  ( mtgox, present time ) looks like if you buy in now and sell progressively in 6-10 hours you might make 5-8% |
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They're pretty crazy almost everywhere right now, I think we'll have to see the price rise by 0.50-1.00$ by the end of the day if so much is being bought up. I thought for sure it was a done deal back when it hit $5.50.
I don't know where the hell it's headed or who is in control of how many or what bitcoins. I can't tell how many millionaires are playing in the game. It appears to be 5 or 6 millionares Me too, that it has gone up probably points to people actually using it for what it is intended to, which is as a currency. What it really needs to be at is hundreds on thousands on each side before it becomes a suitable currency (able to absorb small price fluctuations), and we're seeing this increase in buyer/seller volume over the past two or so weeks. |
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BTC is worth whatever people want to pay for it, like everything else in a capitalistic society.
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I dont believe a price of $7 can be sustained for 7500 new coins each day for 1.2 years more. As price drops. Miners with high electricity cost will go away. As they go away. Miners with no electricity bill, mines more of the coins to sell at any price and still make a profit.
Meaning more miners will quit as the price goes down. In the end, a year from now only miners with zero electricity cost m ight be left.
Price could go down to perhaps $1-$2 in a year from now. Only when production of coins start to dry out, and a few years after will we know the final price.
You are ignoring operation scale; obviously people who are making loads more money mining are mining in larger volumes where it would impossible to steal electricity without anyone noticing. Someone with a quarter terahash/s operation will easily outcompete these free miners because their revenue is so much higher and they will have greater capital to invest in future mining operations, especially as difficulty increases, and will receive better rates because they are using hardware that utilizes less power (ASIC mining) or better deals on power because they are consuming it in bulk. Free miners with small operational expenses will be more likely to bail as time goes on, as the market will swamped will large-scale miners operating on 5-10% margins from ASIC/hardware specific mining. If the free miner buys a video card, mines all year with it and only loses money in the end because of the devaluation of the video card, there will be little to no incentive to mine even with no electricity cost. In short if an ASIC miner can mine at 1/10th the power consumption of GPU mining, I would estimate the collapse of small-scale GPU mining (free or not) in a couple months time. This will only happen after extended stability in the market and is probably not an immediate concern, but sometime next year folks who are small time mining should probably be concerned. That is, the GPU mining market will eventually be outcompeted by people who have the revenue to invest to do it more cheaply. |
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