Diff thread aug 23rd to sept 5th. Picks are closed.

[suchmoon]

The next difficulty keeps getting bigger: Conservative: 4.5% 5.5% Continous: 8.4 %  so not good at all there.

And price as we all know sucks.  205.... ouch.

Something's gotta give. Either the price will bounce back or the diff will retreat, maybe next cycle. I think there is a lot of old gear still on the network that will be very miserable very soon if this exchange rate continues.

[alh]

While I would like to think that "something has to give", I am reminded of a saying related to the stock market:

'The market can remain irrational longer than you can remain solvent.'

I think the same is true of Bitcoin and it's price. There's nothing that says miners MUST make money. After all, if it's to be a currency, why must Bitcoin have a fiat value that makes sense?

[philipma1957]

 



http://btc.blockr.io/charts

8 - 22 - 2015    162     +18
8-  23 - 2015    138     -   6         so + 12 blocks    for sat and sun  
8-  24 - 2015    156     + 12         + 24 blocks for  3 days   

I have us at about (+5.45%)

[edonkey]

The next difficulty keeps getting bigger: Conservative: 4.5% 5.5% Continous: 8.4 %  so not good at all there.

And price as we all know sucks.  205.... ouch.

Something's gotta give. Either the price will bounce back or the diff will retreat, maybe next cycle. I think there is a lot of old gear still on the network that will be very miserable very soon if this exchange rate continues.

Time to buy, which I just did (again).

I know that I'm paranoid, but it does seem interesting that BTC price tanks right around the the time that more efficient hardware (e.g. the S7) is tantalizingly around the corner.

Of course it's unlikely that Bitmain could manipulate the price like this. Could just be money moving out of BTC to the now cheaper equity market since stocks are down.

The best thing for miners to hope for is a major price recovery soon. If BTC recovers before the S7 is announced, it could be a double win for miners. Better purchasing power for higher efficiently hardware, and theoretically some additional competition in the form of older hardware whose profitability could be lifted by higher BTC prices might drive down the S7 price (we can but dream).

So now is the time for BTC to rise. Time to start sacrificing chickens, or whatever works for you ;-)

[philipma1957]

-1.01% to -1.25%  philipma1957


+1.01% to +1.25% mavericklm
+1.26% to +1.50% HerbPean
+1.51% to +1.75% zebedee

+2.01% to +2.25% edonkey
+3.01% to +3.25% notlist3d
+3.26% to +3.50% wlefever
+3.51% to +3.75% jonnybravo0311
+3.76% to +4.00% Mikestang
+4.01% to +4.25% wpt1wpt1

[suchmoon]

While I would like to think that "something has to give", I am reminded of a saying related to the stock market:

'The market can remain irrational longer than you can remain solvent.'

I think the same is true of Bitcoin and it's price. There's nothing that says miners MUST make money. After all, if it's to be a currency, why must Bitcoin have a fiat value that makes sense?

I think miners who don't make money would stop being miners thus reducing difficulty and/or reducing the supply of fresh coins. That's the "benefit" of having large mining farms, those certainly can't afford to run at a loss. Home miners can probably last a bit longer.

I don't care much either way. Most of my gear is paid off and some of it still has 3-4 months of prepaid hosting... if it doesn't get sorted out by then I'll just HODL

[alh]

Please put me down for:

+2.51% to +2.75%

[alh]

Without trying to be a jerk, why is the "HODL" misspelling so popular on Bitcoin? I really don't think it's accidental as often as I see it, and I wonder if there is some kind of inside joke I am missing.

Thanks again to suchmoon for his generous funding of these threads over the last months.

[suchmoon]

Without trying to be a jerk, why is the "HODL" misspelling so popular on Bitcoin? I really don't think it's accidental as often as I see it, and I wonder if there is some kind of inside joke I am missing.

Thanks again to suchmoon for his generous funding of these threads over the last months.

https://bitcointalk.org/index.php?topic=375643.0

[notlist3d]

The next difficulty keeps getting bigger: Conservative: 4.5% 5.5% Continous: 8.4 %  so not good at all there.

And price as we all know sucks.  205.... ouch.

Something's gotta give. Either the price will bounce back or the diff will retreat, maybe next cycle. I think there is a lot of old gear still on the network that will be very miserable very soon if this exchange rate continues.

There are a WHOLE bunch of A1 gear somewhere in the world.  We will see how cheap their electricity really is.   

The low price of BTC and looking at big difficulty changes will kill mining.  Between that flash crash, and XT it's just a crappy time.  The flash crash I think scared many.  And now XT is pretty much everywhere which brings unknown to investors, investors don't like unknown.  So something will give just don't know what it will be.

[philipma1957]

Without trying to be a jerk, why is the "HODL" misspelling so popular on Bitcoin? I really don't think it's accidental as often as I see it, and I wonder if there is some kind of inside joke I am missing.

Thanks again to suchmoon for his generous funding of these threads over the last months.

https://bitcointalk.org/index.php?topic=375643.0

thanks that was a funny thread

[VirosaGITS]

I will take -0.01% to -0.25% please

[skuser]

Without trying to be a jerk, why is the "HODL" misspelling so popular on Bitcoin? I really don't think it's accidental as often as I see it, and I wonder if there is some kind of inside joke I am missing.

Thanks again to suchmoon for his generous funding of these threads over the last months.

https://bitcointalk.org/index.php?topic=375643.0

+1  Epic thread, didn't know it before

[EternalWingsofGod]

The Black Monday in China led towards strong corrections marketwise globally
Oddly enough due to the China connection it looks like some recoil leverage affected Bitcoin as well as we tread near the low $200 ranges.
Still not near the mtgox collapse levels but things have changed since then.

(While I think it will be near negative this round its very early in the cycle and someone left a tempting spot to occupy)

Going to occupy the +1.76-2.00% range
Lets see how it goes

[EternalWingsofGod]

Without trying to be a jerk, why is the "HODL" misspelling so popular on Bitcoin? I really don't think it's accidental as often as I see it, and I wonder if there is some kind of inside joke I am missing.

Thanks again to suchmoon for his generous funding of these threads over the last months.

https://bitcointalk.org/index.php?topic=375643.0

Also this video helped a bit to HODL didn't want to put an edit tag in the previous post
Good old Zhou Tong (The other one not the epic scammer)
https://www.youtube.com/watch?v=NG1qooBzE2w

[philipma1957]

-1.01% to -1.25%  philipma1957

-0.01% to -0.25%  VirosaGITS

+1.01% to +1.25% mavericklm
+1.26% to +1.50% HerbPean
+1.51% to +1.75% zebedee
+1.76% to +2.00% EternalWingsofGod
+2.01% to +2.25% edonkey

+2.51% to +2.75% alh

+3.01% to +3.25% notlist3d
+3.26% to +3.50% wlefever
+3.51% to +3.75% jonnybravo0311
+3.76% to +4.00% Mikestang
+4.01% to +4.25% wpt1wpt1

[philipma1957]

Something has happened here to antpool

https://bitcointalk.org/index.php?topic=1161655.new#new



9 hours since its last block.


https://www.antpool.com/poolStats.htm



and the networks block count has dropped for today to a 133 block pace


https://blockchain.info/blocks


371470 (Main Chain)   2015-08-25 15:19:18


371386 (Main Chain)   2015-08-25 00:01:06


85 blocks made in 15 ⅓ hours we should be at 92

[suchmoon]

Something has happened here to antpool

https://bitcointalk.org/index.php?topic=1161655.new#new



9 hours since its last block.


https://www.antpool.com/poolStats.htm



and the networks block count has dropped for today to a 130 block pace

Borked upgrade to XT perhaps?

Whatever it is - thank you AntPool. Your sacrifice is appreciated.

[philipma1957]

Something has happened here to antpool

https://bitcointalk.org/index.php?topic=1161655.new#new



9 hours since its last block.


https://www.antpool.com/poolStats.htm



and the networks block count has dropped for today to a 130 block pace

Borked upgrade to XT perhaps?

Whatever it is - thank you AntPool. Your sacrifice is appreciated.

yeah the math for them to go 9 hours with no block is pretty much impossible.  

cdf of .99999    around 954,000,000,000 shares vs 54,000,000,000 shares


cdf of .999       around 554,000,000,000 shares vs 54,000,000,000    note edit

[VirosaGITS]

Something has happened here to antpool

https://bitcointalk.org/index.php?topic=1161655.new#new



9 hours since its last block.


https://www.antpool.com/poolStats.htm



and the networks block count has dropped for today to a 130 block pace

Borked upgrade to XT perhaps?

Whatever it is - thank you AntPool. Your sacrifice is appreciated.

Hmm does that mean Antpool is trying to run on XT or something? o.O