Bitcoin Forum
December 02, 2016, 06:11:45 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: Is there ever a possibility of a difficult decrease?  (Read 1769 times)
CoinPurse
Newbie
*
Offline Offline

Activity: 8


View Profile
June 14, 2011, 09:13:12 PM
 #1

Just curious.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Hellobtc
Newbie
*
Offline Offline

Activity: 20


View Profile
June 14, 2011, 09:15:56 PM
 #2

take a look here http://bitcoin.sipa.be/ 

i say no way
torusJKL
Hero Member
*****
Offline Offline

Activity: 594


View Profile
June 14, 2011, 09:22:20 PM
 #3

What if the value of Bitcoin suddenly drops and less people will be mining.
Would that have an effect on the difficulty?

The economical thing put aside. Is it technically possible that the difficulty could decrease or will it always only go up as hash's are getting harder to find?

If you find my post useful send some BTC: 167XM1Za8aG9CdbYuHFMpL2kvPsw6uC8da
Bitrated || bitcoin-otc || Moon Bitcoin Faucet
yellowknife
Newbie
*
Offline Offline

Activity: 10


View Profile
June 14, 2011, 09:25:11 PM
 #4

If you look on the 6th chart on that link you can see the difficulty went down in April.

1KPoUYMbb9qqMF94DHWh3DL93bdNETcopo
Maged
Legendary
*
Offline Offline

Activity: 1260


View Profile
June 14, 2011, 09:27:45 PM
 #5

The economical thing put aside. Is it technically possible that the difficulty could decrease or will it always only go up as hash's are getting harder to find?
Yes. The only limits are that it can only increase or decrease by a factor of 4.

Hellobtc
Newbie
*
Offline Offline

Activity: 20


View Profile
June 14, 2011, 09:29:35 PM
 #6

Is it technically possible that the difficulty could decrease or will it always only go up as hash's are getting harder to find?
yes, if the number of BTC produced per day does not increase
ElectricMonk
Jr. Member
*
Offline Offline

Activity: 52


View Profile
June 14, 2011, 09:35:05 PM
 #7

based upon the data at this address...

take a look here http://bitcoin.sipa.be/  

i say no way


it looks like the difficulty level has reduced in the past.
kickerconspiracy
Newbie
*
Offline Offline

Activity: 10


View Profile
June 14, 2011, 10:34:59 PM
 #8

I would think it could only go up.  Won't it just take longer to reach the next difficulty level if mining activity drops?
Wizard-Ninja
Newbie
*
Offline Offline

Activity: 14


View Profile
June 15, 2011, 04:43:16 AM
 #9

I could see it happening if Uncle Sam decides he wants to kill bitcoin by dumping a bunch of computing power into it to make it unprofitable for anyone to mine, then leave once they leave. That's kinda saying the least though. Not sure they'd bother though, at least not for a long while.
Dude65535
Full Member
***
Offline Offline

Activity: 126


View Profile
June 15, 2011, 05:35:39 AM
 #10

Difficulty goes up or down to try to maintain an average of 6 blocks created an hour.

1DCj8ZwGZXQqQhgv6eUEnWgsxo8BTMj3mT
Hellobtc
Newbie
*
Offline Offline

Activity: 20


View Profile
June 16, 2011, 10:15:12 AM
 #11

based upon the data at this address...

take a look here http://bitcoin.sipa.be/  

i say no way


it looks like the difficulty level has reduced in the past.
in the past 1 BTC =/=19$
bittersweet
Full Member
***
Offline Offline

Activity: 224



View Profile
June 16, 2011, 10:20:55 AM
 #12

based upon the data at this address...

take a look here http://bitcoin.sipa.be/  

i say no way


it looks like the difficulty level has reduced in the past.
in the past 1 BTC =/=19$

So what? You could say exactly the same thing back then: "in the past 1 BTC =/= 2$"

lol

My Bitcoin address: 1DjTsAYP3xR4ymcTUKNuFa5aHt42q2VgSg
fenixosup
Newbie
*
Offline Offline

Activity: 15


View Profile
June 16, 2011, 10:50:33 AM
 #13

If it takes more than ~2 weeks to generate 2016 blocks, it'll go down.
Hellobtc
Newbie
*
Offline Offline

Activity: 20


View Profile
June 16, 2011, 12:07:27 PM
 #14

based upon the data at this address...

take a look here http://bitcoin.sipa.be/  

i say no way


it looks like the difficulty level has reduced in the past.
in the past 1 BTC =/=19$

So what? You could say exactly the same thing back then: "in the past 1 BTC =/= 2$"

lol

Jesus Christ you are a bit slow and you ignore the latest media coverage and miners greed  Wink
bittersweet
Full Member
***
Offline Offline

Activity: 224



View Profile
June 16, 2011, 12:21:54 PM
 #15

Jesus Christ you are a bit slow and you ignore the latest media coverage and miners greed  Wink

Quite the contrary.
No offense, but I think your own greed makes you delusional.
I bet you also think that price depends on difficulty.

My Bitcoin address: 1DjTsAYP3xR4ymcTUKNuFa5aHt42q2VgSg
eamon
Newbie
*
Offline Offline

Activity: 10



View Profile WWW
June 16, 2011, 07:18:47 PM
 #16

Yes. There is a real possibility of a difficulty decrease. Mining is valuable activity, and mining pools have a great opportunity to trade on that value to other proof-of-work block chains, whether those are Namecoin or a bitcoin clone or alternative. With the buy in from a major mining pool, it would be a trivial task to launch a second bitcoin, and the members of that pool would benefit from the cheap coins in the new pool. It would take a while for exchange rates between the two currencies to stabilize and for a while the hashing power would be spread across one or more currencies, lowering the difficulty for bitcoin. Longer term, I suspect that more sophisticated work assignments could be distributed to mining clients. Personally, I'd like to see a distributed AI constructed in such a fashion, but that's just the cognitive psychologist in me speculating!
thinkweis
Jr. Member
*
Offline Offline

Activity: 42


View Profile WWW
June 16, 2011, 11:21:25 PM
 #17

I would think the only way that will happen is if bitcoin gets some bad press and the value drops to a point where they are worth less then the electric cost to mine. Or maybe people sell their mining rigs after a crash and that lowers the amount of miners. So far the value has been increasing along with the difficulty. It would have to break that trend to lower the difficulty a reasonable amount.

Beginners guide to mining bitcoin http://startbitcoin.com Bitcoin mining for beginners
New Secure Wallet Guide http://startbitcoin.com/how-to-create-a-secure-bitcoin-wallet/
Order the Blockchain by mail on dvd http://startbitcoin.com/blockchain-on-dvd/
If you found this information helpful - Please Donate 1HbdRpinMDQ2cgUWsKiMPDN2icC8rNpS1i
hacker
Newbie
*
Offline Offline

Activity: 16


View Profile
June 16, 2011, 11:51:19 PM
 #18

When electricity costs > than mining returns I think you'll see drop, but then the miners will return. Smiley

Green energy powered rig FTW  Cool
WebMonkey
Member
**
Offline Offline

Activity: 100



View Profile WWW
June 16, 2011, 11:58:05 PM
 #19

i'd like to provide more alternative power to my gaming, er, mining rig.

i do that with my ham radio stuff.  solar for them.....

'monkey

Team Calvary Racing

support the ministry
BTC: 1KXvwsDwRM2RUdwtnff3feuYrHH2a1JHnR
LTC: LWdf2pnmQqBkg7GP7rmfGYCZaAQrjsu2Yx
SelkieJr
Newbie
*
Offline Offline

Activity: 2



View Profile
June 17, 2011, 12:06:00 AM
 #20

Not gonna happen.
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!