WTH BTC Jumped 20.06%. Is this a fricking Trend?

[Searing]

Well kinda looked at the difficulty jump for BTC it was a horror! I mean 20.06%!!!

So is this gonna be a trend for 1 more difficulty timeline...2 more.......4 more ..hell who knows 'secret data halls' and 'known data halls' it is like
an Illuminati conspiracy around here with all the btc/crypto soap opera action

Anyway looks like worst of all worlds lately .....and perhaps for a bit .....btc devs conflict/press FUD/difficulty huge rise(s)?/price kinda sucks/etc etc

So anyway this thread is to vent...how long is this gonna pop at this rate in folk's view?

NOT the way I pictured it at this point heading towards HALVING (my poor newbie 2013 self would have been so disappointed)

So feel free to comment on trends/info/data halls/etc that effect the above either briefly or long term so we can all 'brace ourselves'

BTC always the fun carnival ride..till you get off for a brief spell and then 'puke'

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[Amph]

it was expected, because...

1 antminer s7 can do 0.0164 btc daily equal to 0.5 monthly = $189

consumption of many big farm at 0.03-0.05 cent per kw/h is $45 per month, so you see still plenty of margin

the diff will increase even further at least until 200B, +50% more

[NorrisK]

it was expected, because...

1 antminer s7 can do 0.0164 btc daily equal to 0.5 monthly = $189

consumption of many big farm at 0.03-0.05 cent per kw/h is $45 per month, so you see still plenty of margin

the diff will increase even further at least until 200B, +50% more

Those costs per power unfortunately means it is next to impossible for any home miner to ever make a profit any more. Atleast I pay more than 0.2 per kw/h, which means that it is about break even before write-off of the equipment.

Guess i'll stick to buying directly instead of mining.

[virtualdn]

You scared me I though BTC price jumped 20% Oh well...

[bearex]

This just comfirmes that the price needs to rise, otherwise miners would lose money -> stop mining. So my prediction is the difficulty pumping up just likes this, because of faster miners, so BTC has to take them in to account (they mine fast -> the difficulty rises faster).

[Cuidler]

Those costs per power unfortunately means it is next to impossible for any home miner to ever make a profit any more. Atleast I pay more than 0.2 per kw/h, which means that it is about break even before write-off of the equipment.

If you dont find the heat generated usefull, then yes its impossible for home miner to make a profit. About the break-even before write-off of the equipment, it is all based on future difficulty which is hard to predict, there were long periods with constant difficulty, so dont expect such difficulty increases forever.

[emelac]

This just comfirmes that the price needs to rise, otherwise miners would lose money -> stop mining. So my prediction is the difficulty pumping up just likes this, because of faster miners, so BTC has to take them in to account (they mine fast -> the difficulty rises faster).

This time last year whole pools announced they were shutting down because they couldn't make a profit from mining at the low prices Bitcoin had fallen to. The price dictates which miners continue mining, the miners don't dictate the price people are prepared to pay for a Bitcoin. The difficulty won't make the price rise.

[FIN_BTC]

I like that Diff level is rocketing. I pay average 0.05€/kwh and all mine miners is used for space heating without option to use heatpumps so I can do profit even Diff level is 1000... Btw. Actually there is no even limit for that. It will be it in 2017. What comes to Bitcoin price, this around 300-400€/btc is good level I hope it going to be this level for years that price changes going to more stable.

Estimated next level is over 170

Difficulty Rise Acceleration. How long? 5-20% jump for every check point until sun will fade away.

[enquirer]

it was expected, because...

1 antminer s7 can do 0.0164 btc daily equal to 0.5 monthly = $189

consumption of many big farm at 0.03-0.05 cent per kw/h is $45 per month, so you see still plenty of margin

the diff will increase even further at least until 200B, +50% more

Even $0.03/kWH is not low enough to make s7 miner worth buying now. Should be below $0.02. Such prices do exist, in Venezuela, parts of Russia etc.

[Amph]

it was expected, because...

1 antminer s7 can do 0.0164 btc daily equal to 0.5 monthly = $189

consumption of many big farm at 0.03-0.05 cent per kw/h is $45 per month, so you see still plenty of margin

the diff will increase even further at least until 200B, +50% more

Even $0.03/kWH is not low enough to make s7 miner worth buying now. Should be below $0.02. Such prices do exist, in Venezuela, parts of Russia etc.

big farms, don't have acccess to such electricity value, the lower i've heard of is 0.03, which is pretty good

that's why they are going with the new 16nm, which are coming before the halving

[Searing]

Those costs per power unfortunately means it is next to impossible for any home miner to ever make a profit any more. Atleast I pay more than 0.2 per kw/h, which means that it is about break even before write-off of the equipment.

If you dont find the heat generated usefull, then yes its impossible for home miner to make a profit. About the break-even before write-off of the equipment, it is all based on future difficulty which is hard to predict, there were long periods with constant difficulty, so dont expect such difficulty increases forever.

to your point I have large scrypt miners..the heat help (heating house 2 titans 2500w) and the reduced by 1/3 about elec rate for winter ..it kinda works

if folk are correct an 650 usd btc is coming this year at current 0.008 ltc to btc that is 5.20 per LTC say...so hell i may even make it thru next winter into

spring of 2017.....but hell of a way to run a crypto home miner setup

if you are doing ltc to btc say and already have the scrypt equip this kinda/sorta floats (badly)

just to clarify...i see no way a home miner direct btc as a btc miner could do the above anymore ..even with the above angles


so sad....when these titans brick themselves......i really had the home miner bug bad

[notlist3d]

it was expected, because...

1 antminer s7 can do 0.0164 btc daily equal to 0.5 monthly = $189

consumption of many big farm at 0.03-0.05 cent per kw/h is $45 per month, so you see still plenty of margin

the diff will increase even further at least until 200B, +50% more

Even $0.03/kWH is not low enough to make s7 miner worth buying now. Should be below $0.02. Such prices do exist, in Venezuela, parts of Russia etc.

big farms, don't have acccess to such electricity value, the lower i've heard of is 0.03, which is pretty good

that's why they are going with the new 16nm, which are coming before the halving

.03 cent's I think is on the low side for most.  But it's hard to say what most commercial operations are getting.   Were talking about a industry where most are privately owned so they don't really put out data.  They are also all over the world so it's not like one size fit's all.

How do you know most big farms don't have access to such cheap electricity? I have not found anything that really publishes their price on huge commercial operations.

[HagssFIN]

Estimated Next Difficulty:   174,201,188,435 (+20.88%)    

source: bitcoinwisdom.com

[Karartma1]

I am in Venezuela where power is almost free and these diff jumps sure have me very worried, we have a small mine with about 200 TH my forecast even with free power are not good....

what tools do you guys use to calculate ROI? i'm currently using https://coinplorer.com/Hardware/Simulate/ which seems very good, but doesn't seem to take into account halving....

i sure hope this is NOT a trend

man your return on investment depends on the btc price. you can't rely on those simulation simply because the price variable is the most important
one day you have 100, the next day you have 70

[richardsNY]

I just wonder where this massive increase is comming from. Is it one pool that is gaining a massive amount of hash power or is it spreaded over several pools?

[philipma1957]

I see a move to 1300 then 1500 ph very fast.  I see us level off near 2000ph.

I am very negative on btc diff rise as I see it to be huge.

I hope for a price rise.

my power cost for feb mar and april will be 900 usd total minus 300 heat value so that is 600 usd out of pocket.

I positioned myself to have that power money in hand.

I am hoping for a good price jump here. In the next 90 days.

[notlist3d]

I see a move to 1300 then 1500 ph very fast.  I see us level off near 2000ph.

I am very negative on btc diff rise as I see it to be huge.

I hope for a price rise.

my power cost for feb mar and april will be 900 usd total minus 300 heat value so that is 600 usd out of pocket.

I positioned myself to have that power money in hand.

I am hoping for a good price jump here. In the next 90 days.

I keep hoping we will see a rise in bitcoin prices.  It would be great if we do.   But hard to say what will happen.  I think a lot of BTC will be mined and go straight to fiat to pay for this extra hashing that we now have.

If these big operations do trade daily to fiat... that is a lot of push downwards on value at least I see it that way.

[Searing]

I see a move to 1300 then 1500 ph very fast.  I see us level off near 2000ph.

I am very negative on btc diff rise as I see it to be huge.

I hope for a price rise.

my power cost for feb mar and april will be 900 usd total minus 300 heat value so that is 600 usd out of pocket.

I positioned myself to have that power money in hand.

I am hoping for a good price jump here. In the next 90 days.

Not sure about the rest of you but these guys claim 8c kwh price or thereabouts on hosting....only thing I
know is they reply promptly..in that I have 13.7c kwh coming after my winter reduced rate of 0.0966c kwh goes away

I may have to look into this...so yeah the price better pop in the next 90 days like stated above by philipma1957......

https://bitcointalk.org/index.php?topic=1355962.msg13819443#msg13819443



or all screwed...(I too have been also cleaning up $$$ on the heat benifit of 2 titans...but that will bite me in the butt this summer)


anyway the folk that I was pointed to in Canada

http://www.greatnorthdata.com/


again just tossing it out there ..don't know much more then they reply to email promptly ..perhaps others will know more and again

they may have a 'time limit' you have to host your units for

but only thing that comes to mind for you folk still mining BTC ....me I have Titan Scrypt Miners and such so not in such 'dire' straights yet (ltc to btc when the spirit moves me)

anyway am building a messed up titan cube unit of 3 or 4 cubes prob will mine at 3/4 rate of regular Titan at best..I MAY at the end of spring have to

do something like this then.....trying this 'ugly' unit hosting with them to see how it all works (have never hosted before)


...from what I gather on here NOW with the BTC asic miners on this thread you are 'already' doing so or should have done so yesterday me thinks...hosting that is

hope it helps..again all I know is a few said to try these guys and they reply promptly to email...and last I got an email it came out to about 8c kwh with fees etc included

on ONE TITAN ..your own equip you'd have to email them

good luck w/o  a price rise in 90 days (or less) this could be moot for me/us by the middle of summer

[Amph]

it was expected, because...

1 antminer s7 can do 0.0164 btc daily equal to 0.5 monthly = $189

consumption of many big farm at 0.03-0.05 cent per kw/h is $45 per month, so you see still plenty of margin

the diff will increase even further at least until 200B, +50% more

Even $0.03/kWH is not low enough to make s7 miner worth buying now. Should be below $0.02. Such prices do exist, in Venezuela, parts of Russia etc.

big farms, don't have acccess to such electricity value, the lower i've heard of is 0.03, which is pretty good

that's why they are going with the new 16nm, which are coming before the halving

.03 cent's I think is on the low side for most.  But it's hard to say what most commercial operations are getting.   Were talking about a industry where most are privately owned so they don't really put out data.  They are also all over the world so it's not like one size fit's all.

How do you know most big farms don't have access to such cheap electricity? I have not found anything that really publishes their price on huge commercial operations.

i'm curious to know, if there is any mega farm out there sitting on free power, it would be terrible for the mining scene, since no value or halving will stop their mining ever

[notlist3d]

it was expected, because...

1 antminer s7 can do 0.0164 btc daily equal to 0.5 monthly = $189

consumption of many big farm at 0.03-0.05 cent per kw/h is $45 per month, so you see still plenty of margin

the diff will increase even further at least until 200B, +50% more

Even $0.03/kWH is not low enough to make s7 miner worth buying now. Should be below $0.02. Such prices do exist, in Venezuela, parts of Russia etc.

big farms, don't have acccess to such electricity value, the lower i've heard of is 0.03, which is pretty good

that's why they are going with the new 16nm, which are coming before the halving

.03 cent's I think is on the low side for most.  But it's hard to say what most commercial operations are getting.   Were talking about a industry where most are privately owned so they don't really put out data.  They are also all over the world so it's not like one size fit's all.

How do you know most big farms don't have access to such cheap electricity? I have not found anything that really publishes their price on huge commercial operations.

i'm curious to know, if there is any mega farm out there sitting on free power, it would be terrible for the mining scene, since no value or halving will stop their mining ever

I don't know about free but I do wonder on ones like HaoBTC - https://bitcointalk.org/index.php?topic=1072474.0 .  Great read if anyone has not yet, but Eric took tons of amazing pics.

But they built it very close to a dam with hydro.  It's operations like this I wonder what they pay.  It would not be free, but if the company had that much extra unused electricity I would think they would get a sweet deal on electricity.