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Author Topic: nomatter how difficult changes the revenue around avg power cost  (Read 897 times)
PRCman
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May 27, 2011, 09:45:02 AM
 #1

nomatter how difficult changes the revenue of mining will be around avg power cost of all miners

because currency rate will change

Is that correct?

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no_alone
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May 27, 2011, 09:58:33 AM
 #2

If you can predict the currenct rate change then you dont need minnig   Wink

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cdb000
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May 27, 2011, 10:00:45 AM
 #3

nomatter how difficult changes the revenue of mining will be around avg power cost of all miners

because currency rate will change

Is that correct?

I think it is the other way round - price influences difficulty.

If the cost of electricity to mine coins is greater than the value of the coins, some miners stop mining and the difficulty goes down.
If the cost of electricity to mine coins is less than the value of the coins, some people start mining or add to their mining capacity and the difficulty goes up.

Currently, the difficulty is such that mining is profitable, but probably not so profitable that it would be sensible to buy new hardware for mining.

BitLex
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May 27, 2011, 10:03:02 AM
 #4

maybe.

currency rate will change, but that doesn't mean, it will go up the same way, difficulty does,
it may do that, or even go higher faster then the difficulty (like it did before),
but it doesnt have to, it's also possible that it'll go down and get un-profitable to some miners.
actually i expect it to get un-profitable for most miners sooner or later, only those with cheap energy, or specialized hardware will survive in the long-term.

Clipse
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May 27, 2011, 10:04:13 AM
 #5

nomatter how difficult changes the revenue of mining will be around avg power cost of all miners

because currency rate will change

Is that correct?

I think it is the other way round.

If the cost of electricity to mine coins is greater than the value of the coins, some miners stop mining and the difficulty goes up.
If the cost of electricity to mine coins is less than the value of the coins, some people start mining or add to their mining capacity and the difficulty goes down.

Currently, the difficulty is such that mining is profitable, but probably not so profitable that it would be sensible to buy new hardware for mining.

You seem to have the difficulty adjustment the wrong way. If less hashrate on network, difficulty goes down and not up.

So if some miners stop and it directly could relate to lower network hashrate then the difficulty will eventually lower and vica versa.

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BitLex
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May 27, 2011, 10:06:36 AM
 #6

and you all expect the difficulty to go down, just because some miners stop mining,
i doubt that'll happen.  Wink

Chucksta
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May 27, 2011, 10:30:05 AM
 #7

nomatter how difficult changes the revenue of mining will be around avg power cost of all miners

because currency rate will change

Is that correct?

I think it is the other way round.

If the cost of electricity to mine coins is greater than the value of the coins, some miners stop mining and the difficulty goes up.
If the cost of electricity to mine coins is less than the value of the coins, some people start mining or add to their mining capacity and the difficulty goes down.

Currently, the difficulty is such that mining is profitable, but probably not so profitable that it would be sensible to buy new hardware for mining.

You seem to have the difficulty adjustment the wrong way. If less hashrate on network, difficulty goes down and not up.

So if some miners stop and it directly could relate to lower network hashrate then the difficulty will eventually lower and vica versa.

You've got it exactly right.. peeps, go back and read up what this BTC is all about and specifically about BTC generation

and you all expect the difficulty to go down, just because some miners stop mining,
i doubt that'll happen.  Wink

It'll take a LOT of miners stopping before the difficulty decreases, therefore I doubt it will for a very long time, if ever. People are stubborn, and when it come to making money they can also be stubborn to the point of stupidity.

I mean, there are people out there making money in those virtual worlds, and because it's a game/virtual world they seem quite happy slaving away for just a few cents an hour !! mad !
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