i think this is a miscalculation of the hashing rate right after the difficulty has changed.
it seems to happen each time the difficulty adjusts (at least from what I've seen).

i'm not an expert. someone can correct me if I'm wrong but I think when the difficulty changes the hashrate is re-calculated. it is expected that a new block will be discovered ~every 10 mins. At the start of the difficulty level if some blocks are found faster than that then the calculated hashrate is higher than it is in reality. When more blocks are mined at this difficulty level the time to mine them will average out to a more representative period for the real hash rate.

it means that the difficulty of generating bitcoins is going to increase by ~60%. so unless you upgrade your mining hardware it will take 60% longer time to generate the same amount of coins as you currently are.

totally understand that logically price drives difficulty and not the other way around but was thinking that because starting to mine is easier than buying bitcoins (at the moment) has the recent glut of press exposure driven hashing rate (and thus the soon to be increased difficulty) more than it has driven a price rise.

we may still see a price rise due to the press exposure but it could be delayed compared to the more immediate impact on hashing rate.
what do you think?

see this post to get it straight from the horse's mouth
http://forum.bitcoin.org/index.php?topic=8416.msg122876#msg122876

i'm not agreeing with the argument in the link. just pointing out what was happening on the quora site.

http://www.quora.com/Bitcoin/Is-the-cryptocurrency-Bitcoin-a-good-idea

discussion on bitcoin. top answer at the moment is pretty critical basically saying that it is a scam.

now Robert Scoble is tweeting about bitcoin

http://twitter.com/#!/Scobleizer/status/69912540351709184

prepare for the bitcoin price spike - will go through $10 easily next week.

welcome Jason.

enjoyed the article and the twist interview the other day. also loving technotarian - it could have legs.

wondering how far you're belief in bitcoin goes, just as a hypothetical what would you think over someone pitching you for angel funding for something in the bitcoin sphere. would a "bitcoin venture" be fundable. say something like a p2p money-exchange site (thinking something like transferwise.com) for dollars/euro/gbp to bitcoin and vice-versa.

 

just asking -do you think it's
incorrect because it is stoppable some other way
or
incorrect because end-users won't/can't be prosecuted?

sorry not sure how that happened. try http://launch.is/ and it's the newest story at the moment. Number L019.

the headline is more linkbait than anything else I imagine. take it with a pinch of salt.

following on from the thisweekinstartups podcast http://thisweekin.com/thisweekin-startups/bitcoin-discussion-with-gavin-andresen-and-amir-taaki-on-this-week-in-startups-140/there is write up of Bitcoin in Jason Calacanis's latest LAUNCH newsletter

http://launch.is/blog/l019-bitcoinp2p-currency-the-most-dangerous-project-weve-eve.html

that's what I thought too.

the lyrics of the theme music are very apt in a way for bitcoin when I listened back. Starts around 30s in.
http://www.youtube.com/watch?v=TwNfBgwbqng

if you go to http://thisweekin.com/thisweekin-startups/ tomorrow it will probably be there. if not it shouldn't take much longer.

good job too genjix.
enjoyed the show.
good thing about bitcoin is that theres is no official spokesman. no central bank so to speak. it's all set out from the start. interesting to see where it goes.

good job Gavin.

just finished now.

will probably be available on youtube or as a podcast soon enough.

was wondering who he is.

interesting so far.

http://thisweekin.com/

haven't seen this elsewhere

on right now