Why is the difficulty sky rocking

[mrMIGHTY]

Why is the difficulty sky rocking like crazy?

[culexevilman]

ASIC?

[mrMIGHTY]

I expect difficulty at 1858 at Jan, 2014

 

[Xyver]

Because new, better miners are entering the network, causing the total network power to skyrocket, causing the difficulty to skyrocket.

It's going to keep going up for a long time....But It'll level off eventually

[TitanBTC]

If you're looking to get into mining, this is one of the basic things you need to know.  The hardware you buy to mine bitcoins will earn less and less everyday.  It's just part of the system.  You have to upgrade regularly to keep pace.

[Polarstorm]

The few miners BFL has produced and shipped had a great impact to the diff.

[smracer]

If you're looking to get into mining, this is one of the basic things you need to know.  The hardware you buy to mine bitcoins will earn less and less everyday.  It's just part of the system.  You have to upgrade regularly to keep pace.

The miners will earn less but not every day.  Bitcoin re-calculates it's difficulty every 2016 blocks.  This is usually around 14 days but has been a few days earlier of late.

[Trongersoll]

If you're looking to get into mining, this is one of the basic things you need to know.  The hardware you buy to mine bitcoins will earn less and less everyday.  It's just part of the system.  You have to upgrade regularly to keep pace.

The miners will earn less but not every day.  Bitcoin re-calculates it's difficulty every 2016 blocks.  This is usually around 14 days but has been a few days earlier of late.

not necessarily true. If the hashrate goes up, yes more Blocks will be found than should be, but your share of the pie will go down proportionately. The difficulty just tries to compensate for the current condition where blocks are being found too quick.

[Abdussamad]

In pooled mining if your share goes down you get less reward? Just curious.

[Trongersoll]

In pooled mining if your share goes down you get less reward? Just curious.

in a pool if the pool's hashrate goes up your share of the pool goes down. you get less. if the world hashrate goes up and your pool's doesn't then your pool will make less and so will you.

[eleuthria]

In pooled mining if your share goes down you get less reward? Just curious.

in a pool if the pool's hashrate goes up your share of the pool goes down. you get less. if the world hashrate goes up and your pool's doesn't then your pool will make less and so will you.

Not quite.  The only thing that really matters is:  Your hashrate vs Network hash rate.

Beyond that it is only variance, pool reliability, and pool fees.  If the pool you're in is small relative to network hash rate, you'll have more variance (which can be good or bad).  But your expected return is dictated by your percentage of the overall network speed.

[Trongersoll]

In pooled mining if your share goes down you get less reward? Just curious.

in a pool if the pool's hashrate goes up your share of the pool goes down. you get less. if the world hashrate goes up and your pool's doesn't then your pool will make less and so will you.

Not quite.  The only thing that really matters is:  Your hashrate vs Network hash rate.

Beyond that it is only variance, pool reliability, and pool fees.  If the pool you're in is small relative to network hash rate, you'll have more variance (which can be good or bad).  But your expected return is dictated by your percentage of the overall network speed.

My bad, this all gets blury some times.

[bitcoiner49er]

Because ASIC companies have shipped a few miners and built more than a few more for themselves. Known and unknown.

[FuzzyBear]

Because ASIC companies have shipped a few miners and built more than a few more for themselves. Known and unknown.

but what about the unknown unknowns??

[600watt]

Because ASIC companies have shipped a few miners and built more than a few more for themselves. Known and unknown.

+ 1

[thy]

Why is the difficulty sky rocking like crazy?

Old and new ASICcompany's is starting to get there volums up.

[600watt]

malware spreading like shit.

malware that enslaves your pc/apple/game-console being part of giant botnets.