Diff thread Aug 2 to Aug 16. Picks are yet to start. prize =0.00

[edonkey]

So Bitmain no longer is selling any more S9 to cap the hashrate ?

Sure doesn't look like the hash rate is capped any more. Maybe they're selling to private farms, or outfitting hashnest.

There's also the likely possibility that Avalon will soon enter the fray. Maybe they're testing.

Originally when Bitmain released the S9 at an insane price and with an effective monopoly I really wanted to see Avalon, BW, or anyone compete with them. But now that I've taken the S9 plunge (b3, which was the sweet spot), part of me selfishly hopes that a competitor doesn't rock the boat.

If a competitor comes on the scene, Bitmain is in a perfect position to annihilate them. If that happens then the ensuing price war will drive down the price of current mining hardware, drive up the difficulty, and kill any chance of ROI in Bitcoin terms of S9 early adopters like me.

The only thing keeping me from panicking in the face of the oncoming difficulty tsunami and selling my S9 right now, where there is zero competition and breathing room before the boom comes down, is my wife reminding me that I'm impossible to live with when I'm not mining

I'm a hobbyist miner I'm not nearly invested as some. So I'm ok with overriding the businessman in me that says that the time to sell my S9 is now.

For those of you that are heavily invested in the S9 at non-discounted prices, my heart goes out to you.

[philipma1957]

So Bitmain no longer is selling any more S9 to cap the hashrate ?

Sure doesn't look like the hash rate is capped any more. Maybe they're selling to private farms, or outfitting hashnest.

There's also the likely possibility that Avalon will soon enter the fray. Maybe they're testing.

Originally when Bitmain released the S9 at an insane price and with an effective monopoly I really wanted to see Avalon, BW, or anyone compete with them. But now that I've taken the S9 plunge (b3, which was the sweet spot), part of me selfishly hopes that a competitor doesn't rock the boat.

If a competitor comes on the scene, Bitmain is in a perfect position to annihilate them. If that happens then the ensuing price war will drive down the price of current mining hardware, drive up the difficulty, and kill any chance of ROI in Bitcoin terms of S9 early adopters like me.

The only thing keeping me from panicking in the face of the oncoming difficulty tsunami and selling my S9 right now, where there is zero competition and breathing room before the boom comes down, is my wife reminding me that I'm impossible to live with when I'm not mining

I'm a hobbyist miner I'm not nearly invested as some. So I'm ok with overriding the businessman in me that says that the time to sell my S9 is now.

For those of you that are heavily invested in the S9 at non-discounted prices, my heart goes out to you.

My only saving grace is the power cost is managed so as diff gets worse my power to coin cost does not get worse.

Ie my deal is 1/2 the coins goes for power.

So my power cost is 50%

[petahashminer]

02.08.2016 18:50   423360
07.08.2016 07:32   424092


732blocks   diff: 12.24%   Difficulty : 226599240387

still over 10%

[philipma1957]

02.08.2016 18:50   423360
07.08.2016 07:32   424092


732blocks   diff: 12.24%   Difficulty : 226599240387

still over 10%

It may have slipped back to 10%

[petahashminer]

@philipma1957

  decreasing but not below 10%, for now.

02.08.2016 18:50   423360
07.08.2016 18:23   424155

795 Blocks NEXT:10.84%    NEXT DIFF : 223783834702

[Mikestang]

Yup the big peak seems to have passed again, and the cycle continues.  Good news is the highest peak doesn't seem to be that far off the last few peaks pre-halving.  I'll guess we'll see the hash rate settle down to around even prior to another dip or peak starting up around the next adjustment.  Were the contest active, we'd be opening guesses soon... 1077 blocks to go this period as of this posting.

[petahashminer]

02.08.2016 18:50   423360
08.08.2016 18:50   424303


943 Blocks  Diff % :9.15%    Diff: 220359402807

Below 10%

slowing down, yet still high.

[notlist3d]

So Bitmain no longer is selling any more S9 to cap the hashrate ?

Sure doesn't look like the hash rate is capped any more. Maybe they're selling to private farms, or outfitting hashnest.
... saving space

I guessed this as a possibility last period when we went down that we would see upgrades.  I think Bitmain will keep running with being only one with production miner of current gen.   So likely making them... question is where they are going.  So internal or big sales likely I see as the anwser, pure speculation.   Difficulty was not what I wanted to see this week though.

I have not been able to get on the past week due to work.  The Bitfinex hack honestly did not drop coin value as much as I thought it would.  Will be interesting once they get settled and find best solution to pay all customers.   I'm am still a little afraid of a drop from Bitfinex user's getting  funds back and wanting out of crypto seeing loss from hack.... but hard to tell what will happen.

[philipma1957]

My bitfinex account was reduced in ETC and in ETH
What does it mean?  So far I don't know  but if I ever get into it instead of looking at it I will pull the ETH.

Leave the ETC  and the BFX

[edonkey]

My bitfinex account was reduced in ETC and in ETH
What does it mean?  So far I don't know  but if I ever get into it instead of looking at it I will pull the ETH.

Leave the ETC  and the BFX

I don't have any direct experience because I didn't use Bitfinex. But according to posts on Reddit it sounds like they're giving everyone a haircut in order to avoid bankruptcy.

I think I read that they're taking 36% of all user accounts, even those that were completely unaffected.

It's really quite a mess. Their customers are paying the price for poor security choices, but that's better than forcing them into bankruptcy and waiting 5 years to get even less back.

This is why I hold everything on a Trezor. I only use exchanges as briefly as possible to buy and sell coin.

[philipma1957]

My bitfinex account was reduced in ETC and in ETH
What does it mean?  So far I don't know  but if I ever get into it instead of looking at it I will pull the ETH.

Leave the ETC  and the BFX

I don't have any direct experience because I didn't use Bitfinex. But according to posts on Reddit it sounds like they're giving everyone a haircut in order to avoid bankruptcy.

I think I read that they're taking 36% of all user accounts, even those that were completely unaffected.

It's really quite a mess. Their customers are paying the price for poor security choices, but that's better than forcing them into bankruptcy and waiting 5 years to get even less back.

This is why I hold everything on a Trezor. I only use exchanges as briefly as possible to buy and sell coin.

I don't usually have more then .5 coin  say 300 usd on any exchange but   I was over limit and got burned.  Have to see what the burn is.  all is 700 ⅓ is about 233 .  I think they have me at 239 usd loss.  If I only lose 239  I can start prizes back next jump at 25 usd and by christmas my loss will be made up.

If I loss it all (700)  I will stop prizes for a few more jumps Say 6 in all that is 300 bucks    then go to 25 a jump for 16   and by late spring the loss will be made up.

[fr4nkthetank]

Heck to be fair, I dont even play this for the btc, just for fun.  btc is just extra motivation   By the way, I found an old block erupter I had saved.  I put it on solo mining and in about 90000 years I'll tell you guys I found a block with it

[Biodom]

My bitfinex account was reduced in ETC and in ETH
What does it mean?  So far I don't know  but if I ever get into it instead of looking at it I will pull the ETH.

Leave the ETC  and the BFX

This is why I hold everything on a Trezor. I only use exchanges as briefly as possible to buy and sell coin.

can you easily pay from that Trezor thingie? The description is kind of open to interpretation and/or opaque.
I also looked at Ledger Nano S. Anybody uses that one?

[philipma1957]

My bitfinex account was reduced in ETC and in ETH
What does it mean?  So far I don't know  but if I ever get into it instead of looking at it I will pull the ETH.

Leave the ETC  and the BFX

This is why I hold everything on a Trezor. I only use exchanges as briefly as possible to buy and sell coin.

can you easily pay from that Trezor thingie? The description is kind of open to interpretation and/or opaque.
I also looked at Ledger Nano S. Anybody uses that one?

I have 4 hdds clones  with the same bt core  wallet  all off line set to boot any of my mac minis. just hook up one on any of the minis boot wait for synch and you are set.


  so keeping larger coin amounts  safe  is not a problem.  but I always float 1-3 coins on line between four or five spots.

[Quickseller]

I wonder if the spike in estimated difficulty has anything to do with the recent meeting between the Blockstream core devs and the chinese mining pools. At first glance (and if memory serves me correctly), it looks like the Chinese pools are possibly loosing market share compared to what they had very recently.

I believe that there were reports that the blockstream core devs were threatening to quit if the Chinese pools were to start supporting a HF that involves increasing the maximum block size -- or something along those lines (I am unsure as to the reliability of these reports though).

I wonder if the blockstream core devs are possibly running some of their mining equipment (possibly at a loss) on non-chinese pools (and solo mining) in an effort to show the Chinese pools "who is boss". If this is true, then I wonder how long this can, or will last.

[philipma1957]

I wonder if the spike in estimated difficulty has anything to do with the recent meeting between the Blockstream core devs and the chinese mining pools. At first glance (and if memory serves me correctly), it looks like the Chinese pools are possibly loosing market share compared to what they had very recently.

I believe that there were reports that the blockstream core devs were threatening to quit if the Chinese pools were to start supporting a HF that involves increasing the maximum block size -- or something along those lines (I am unsure as to the reliability of these reports though).

I wonder if the blockstream core devs are possibly running some of their mining equipment (possibly at a loss) on non-chinese pools (and solo mining) in an effort to show the Chinese pools "who is boss". If this is true, then I wonder how long this can, or will last.

Not sure but I don't think this jump makes economic sense.

I have been complaining about btc transaction limit .

We do an average of 300,000 a day with a max of just under 700,000 possible with perfect numbers.

So to have liquid btc we use exchanges.  And we just had Bitfinex 'lose' 60 million in btc .

Btc with a no fork rule won't lock those coins via fork.  So they stay lost.  Btc won't make more room via fork for more transactions so we need to use exchanges .  Exchanges get hacked  and btc does not protect against the theft.

Eth-eth had a hack or exploit boom crushed it via fork.

Btc is sucking its own cock feels good but leads to nothing.

I see a big move to etc-eth

I buy all real company gear with real warranties . Sold by real sellers like Amazon or newegg.

And if there is an exploit the developers make moves to save the day.

So if you have solid money to invest seven figures eth-etc looks viable.

Now if btc makes a block size adjustment that allows a lot more transactions per day then  maybe it does okay.

If not we are good to see a snap crackle pop happen

[Quickseller]

I am not saying that the increase in difficulty has anything to do with any kind of flaw in Bitcoin, nor anything with the bitfinex hack.

I think it might be possible that the blockstream core devs are possibly running mining equipment at a loss in order to prevent them from being able to exert too much pressure for a HF to increase the maximum block size.

My understanding is that blockstream is almost certainly to never turn a profit if the maximum block size increases at all....part of this reason is due to once the maximum block size is increased once, it will be less of a big deal to increase it a second time when there is demand, and a third time (ect).

If mining equipment is being run at a loss at non-chinese pools, then the point of this would be to cause the voice and influence of the Chinese pools to decrease, so when they are calling for larger maximum block sizes, their voice will not be as loud.

[Biodom]

If sufficient number of bitcoiners start running graphic cards in support of etc-eth (and they/we probably do this kind of thing already judging by some here), what may stop developers to release a "GPU only"-fork for bitcoin?
This is basically a sword of Damocles that they have over Chinese miner farms and pools.
People will switch their gear from etc-eth to btc if ASICs are ruled out, I think.
It probably would be the best, anyway.

[philipma1957]

If sufficient number of bitcoiners start running graphic cards in support of etc-eth (and they/we probably do this kind of thing already judging by some here), what may stop developers to release a "GPU only"-fork for bitcoin?
This is basically a sword of Damocles that they have over Chinese miner farms and pools.
People will switch their gear from etc-eth to btc if ASICs are ruled out, I think.
It probably would be the best, anyway.

I have become anti-asic.  This idea is pretty good.  BTC-GPU  


Here is my thought plain and simple.

Intel
AMD
Nvidia     as my suppliers of gear.   Vs  Bitmaintech and Avalon

1, 2, 3 year real warranties vs 90 day fuck you warranties.

Actual real world use of the gear for shit other then mining.

Lastly since the pc is mining how about a bonus if you run a node. Say 0.5% extra for running a node.

China needs a good dose of reality about BTC. The current setup is not good for the game.

[fr4nkthetank]

If sufficient number of bitcoiners start running graphic cards in support of etc-eth (and they/we probably do this kind of thing already judging by some here), what may stop developers to release a "GPU only"-fork for bitcoin?
This is basically a sword of Damocles that they have over Chinese miner farms and pools.
People will switch their gear from etc-eth to btc if ASICs are ruled out, I think.
It probably would be the best, anyway.

I have become anti-asic.  This idea is pretty good.  BTC-GPU  


Here is my thought plain and simple.

Intel
AMD
Nvidia     as my suppliers of gear.   Vs  Bitmaintech and Avalon

1, 2, 3 year real warranties vs 90 day fuck you warranties.

Actual real world use of the gear for shit other then mining.

Lastly since the pc is mining how about a bonus if you run a node. Say 0.5% extra for running a node.

China needs a good dose of reality about BTC. The current setup is not good for the game.

I like the way you think.