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Author Topic: How affects the miners in the price of the bitcoin this month?  (Read 723 times)
BitMaxz
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November 06, 2015, 09:18:37 PM
 #1

I just want to know how affects miners from increasing of bitcoin price?
If bitcoin price still rising up the difficulty will increase too?
how affects it to your daily income?

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philipma1957
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November 06, 2015, 10:01:41 PM
 #2

I just want to know how affects miners from increasing of bitcoin price?
If bitcoin price still rising up the difficulty will increase too?
how affects it to your daily income?

Difficulty will follow price increase.  I.E. it lags behind.

So right now diff is up around 5%  and price is up around 30%

Since last adjustment..

For miners this means more profit.  Maybe buy an s-7 to increase your hashpower.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
Tmdz
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November 07, 2015, 06:01:02 AM
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As long as btc growth in prices exceeds the difficulty we will all be in the green.  Keep in mind that difficulty and prices have a indirect effect on each other, it is that profitable goes up therefor more miners will mine increasing the hash power and difficulty.
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November 07, 2015, 08:10:30 AM
 #4

I just want to know how affects miners from increasing of bitcoin price?
If bitcoin price still rising up the difficulty will increase too?
how affects it to your daily income?

Difficulty will follow price increase.  I.E. it lags behind.

So right now diff is up around 5%  and price is up around 30%

Since last adjustment..

For miners this means more profit.  Maybe buy an s-7 to increase your hashpower.

price is 50%+ in comparison with 230(before the pump started) what was the diff at that time, and what it is now?
Mickeyb
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November 07, 2015, 09:45:26 AM
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Miners are profiting very nicely from the latest increase in price. This will last only until the difficulty doesn't go up and it will happen.

That's OK though. They were also losing a lot and many have gone out of business when the price has fallen very rapidly to $220 levels in the beginning of this year.
BitMaxz
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November 07, 2015, 10:00:26 AM
 #6

I just want to know how affects miners from increasing of bitcoin price?
If bitcoin price still rising up the difficulty will increase too?
how affects it to your daily income?

Difficulty will follow price increase.  I.E. it lags behind.

So right now diff is up around 5%  and price is up around 30%

Since last adjustment..

For miners this means more profit.  Maybe buy an s-7 to increase your hashpower.
So it means miners got around 30% profit from bitcoin price increasing with difficulty around 5%.
Not only ant miner s7 is good to increase our hashpower. I think avalon is a good choice than miner s7 with low current(low power consumption).
S7 wattage=1250 while avalon 4.1 wattage = around 500 to 700...

QuintLeo
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November 07, 2015, 11:22:59 AM
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Basically, the current price surge (which I don't anticipate lasting long) will probably fuel more folks getting into (or back into) mining, causing the diff to increase faster for a while.

 Short term, more profits and better chance to RoI our existing gear for those of us that were already mining, long term looking like a negative once the surge drops back some but the diff increases already happened.


 I don't think Bitcoin price will drop back to the $230 range - but I do think it will drop back under $300 and likely back to around $250ish range before the end of the year, there just isn't any major structural or long-term news reason for the big surge only short-term stuff.

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philipma1957
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November 08, 2015, 10:46:30 AM
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Basically, the current price surge (which I don't anticipate lasting long) will probably fuel more folks getting into (or back into) mining, causing the diff to increase faster for a while.

 Short term, more profits and better chance to RoI our existing gear for those of us that were already mining, long term looking like a negative once the surge drops back some but the diff increases already happened.

I don't think Bitcoin price will drop back to the $230 range - but I do think it will drop back under $300 and likely back to around $250ish range before the end of the year, there just isn't any major structural or long-term news reason for the big surge only short-term stuff.

Europe has declared BTC to be cash not a commodity.   That is a big change , well I think it is.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
QuintLeo
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November 09, 2015, 12:05:47 PM
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Odd, last time I had looked at the news most of Europe had either not decided what Bitcoin was, or that it IS a commodity not subject to VAT.

 The "not subject to VAT" part was the big announcement, and might help some.

 The surge though seems to have been mostly fueled by that BTCC "we now take cash/cash equivilent payments again" announcement, posibly aided a bit by the MMM Ponzi scheme and the Chinese economic issues.

I'm no longer legendary just in my own mind!
Like something I said? Donations gratefully accepted. LYLnTKvLefz9izJFUvEGQEZzSkz34b3N6U (Litecoin)
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