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Difficulty +30% in about 3h
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Topic: Difficulty +30% in about 3h (Read 2270 times)
Le Happy Merchant
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Re: Difficulty +30% in about 3h
September 26, 2013, 01:49:59 AM
#21
Quote from: millsdmb on September 25, 2013, 01:59:14 PM
difficulty and price have 0 correlation.
Correlation they definitely have, causation on the other hand...
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crazy_rabbit
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Re: Difficulty +30% in about 3h
September 26, 2013, 11:58:15 AM
#22
So did the price go up 30% too?
more or less retired.
niothor
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in defi we trust
Re: Difficulty +30% in about 3h
September 26, 2013, 12:09:23 PM
#23
Quote from: crazy_rabbit on September 26, 2013, 11:58:15 AM
So did the price go up 30% too?
Of course it did ....NOT!
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Endgame
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Re: Difficulty +30% in about 3h
September 26, 2013, 02:08:32 PM
#24
Difficulty and price have a complex relationship. While generally difficulty follows price, and not the other way round, difficulty can impact price in some limited situations. For example when it means a mass influx of new users. On this occasion though the rising difficulty is simply due to delivery of a few more ASICS, which is expected and already factored into the price. So the general rule applies and this should have no price impact.
Miz4r
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Re: Difficulty +30% in about 3h
September 26, 2013, 02:17:20 PM
#25
Quote from: Endgame on September 26, 2013, 02:08:32 PM
Difficulty and price have a complex relationship. While generally difficulty follows price, and not the other way round, difficulty can impact price in some limited situations. For example when it means a mass influx of new users. On this occasion though the rising difficulty is simply due to delivery of a few more ASICS, which is expected and already factored into the price. So the general rule applies and this should have no price impact.
What about a mass influx of people running away from the ASIC market back into bitcoin due to the increasing difficulty? The fear and panic among the people with ASIC pre-orders is only just beginning...
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Its About Sharing
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Re: Difficulty +30% in about 3h
September 26, 2013, 06:45:01 PM
#26
So, if we go up every 10 days by 30% in difficulty, we might see this: (My numbers are a bit low, started with 145 million)
October 6 - 188.5 million
October 16- 245.05 "
October 26- 319 "
November 2 - 414 "
This sure makes things interesting.
I just don't think we will see it personally. I think things will slow down... or I hope so.
IAS
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BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
Miz4r
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Re: Difficulty +30% in about 3h
September 26, 2013, 07:46:57 PM
#27
Slow down? LOL, things will only accelerate from here on out. I expect to see 40-60% difficulty jumps within the next two months, the amount of standing pre-orders out there are truly scary. Up till now the 30% jumps are mainly caused by BFL and Bitfury only. Once KNC, Hashfast and others start shipping things are going to go to a whole new level. Only once it overshoots and the most efficient miners out there are only profitable at free or low electricity costs we will see miners capitulate and things slowing down again. Maybe around 4-5 billion difficulty, perhaps even higher.
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Odalv
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Re: Difficulty +30% in about 3h
September 26, 2013, 07:47:56 PM
#28
Quote from: Its About Sharing on September 26, 2013, 06:45:01 PM
So, if we go up every 10 days by 30% in difficulty, we might see this: (My numbers are a bit low, started with 145 million)
October 6 - 188.5 million
October 16- 245.05 "
October 26- 319 "
November 2 - 414 "
This sure makes things interesting.
I just don't think we will see it personally. I think things will slow down... or I hope so.
IAS
5+ Phash/s at the end of year. (10x more then I expected at the begin of year :-) )
Jumpy
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Re: Difficulty +30% in about 3h
September 28, 2013, 03:22:19 AM
#29
All of the proposed increases in price would happen gradually as a result of new tradeoffs changing equilibrium. The guy that bought 20 ASICs isn't suddenly going to buy more BTC, but newcomers will be more likely to invest in coin rather than equipment. However, that trend is already known and happening.
Mining and BTC Price are correlated but don't have a causal relationship either way.
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Hfleer
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Re: Difficulty +30% in about 3h
September 28, 2013, 04:38:10 AM
#30
Well those recently purchasing mining gear will be even less profitable, perhaps they will see a better choice is to buy BTC in bulk till the demand for mining gear settles.
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