ETH Difficulty +11% in less than 24 hours.

[jpouza]

So the ASICs miners are already showing their claws, make no mistakes gentlemans, difficulty fast pumps are directly connected to more hashing power in the ETH network (aka ASICS miners), bye bye ETH GPU mining.

[drrobert]

So the ASICs miners are already showing their claws, make no mistakes gentlemans, difficulty fast pumps are directly connected to more hashing power in the ETH network (aka ASICS miners), bye bye ETH GPU mining.

If is true eth will switch to POS faster ... we expect pos on next year but if is true asic on network i think they will switch to pos system about settember

[sundownz]

Maybe it's just me... but my $ per day has not decreased at all over the last week.

My $ per day is higher than ever... possibly because I am dual mining Decred or Pascal on all my AMD cards... but either way $ is $ =)

[Marvell1]

So the ASICs miners are already showing their claws, make no mistakes gentlemans, difficulty fast pumps are directly connected to more hashing power in the ETH network (aka ASICS miners), bye bye ETH GPU mining.

Nah its just proof the gpu shortage is not real, large farms have access to GPU's in mass quantities

[Kompik]

So the ASICs miners are already showing their claws, make no mistakes gentlemans, difficulty fast pumps are directly connected to more hashing power in the ETH network (aka ASICS miners), bye bye ETH GPU mining.

Nah its just proof the gpu shortage is not real, large farms have access to GPU's in mass quantities

I dont think so, this is too much in one day even for the biggest farms. I also have some contacts to suppliers in my country and there really isnt that much cards availible even for the biggest of players.

[Tmdz]

This is not ASIC, this is the ice age!

Look at block time, it has jumped up from around 15 sec to over 17 sec today.

ETH it meant to maintain a 14 sec block time but the difficulty bomb will cause difficulty to rise faster and faster as time goes on, it has just become noticeable.

If there really was an ASIC then the hashrates would be going up very fast and block times would remain close(r) to the target.

Check stats here https://ethstats.net/

[Metroid]

It looks like ETH price crashed 20% and the difficult rose 20% regardless of hashrate drop and 17 seconds to find a block now, which means ETH became 35% less profitable, in just few days, imagine in few weeks. I wonder when the people who bought rx 4xx r5xxx series for 700 usd will commit suicide. Their end is near.

[adaseb]

https://etherchain.org/charts/difficultyBomb

So how does this work exactly because it says 0.016% which seems small but yet the blocktimes are now > 17 seconds which is 20% higher than normal.

Difficulty Bomb factor:   137,438,953,472 (0.016 %)

So every new block gets added the above difficulty? So 0.016% per block?

So after 5000 blocks (1 day) it will increase the difficutly by 0.016% * 5000 = 80%?

That can't be correct.


Anyone understand the coding behind this ice-age?

[Metroid]

this ice-age?

The next ice age will be going from 17 seconds to almost 30 seconds, month of happening is 10527970065383.

Get ready trolls, very soon your return of investment calculated at 6 months will jump to 4 years hehe.

[adaseb]

Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01
Block 4500000, approx ETH supply 95912556, time '2018-11-03 05:55:48.912370' blocktime 136.71
Block 5000000, approx ETH supply 98562556, time '2025-10-02 11:47:30.658317' blocktime 835.81
Block 5500000, approx ETH supply 101212556, time '2128-03-20 09:14:16.483692' blocktime 17183.83
Block 6000000, approx ETH supply 103862556, time '5189-09-26 20:57:59.367004' blocktime 520901.19

[fanatic26]

After reading through this thread it seems that none of you really have a clue what is going on. Wild accusations of ASIC miners are just silly. The price tripled, investors got excited and bought hardware, and now it is coming online. Its not all that complicated.

P.S. There is a moratorium on selling graphics cards in bulk right now as so many have been purchased the graphics card companies are unable to meet their retail demands to customers/partners. So in turn they have allocated all remaining stock to those partners and large mining firms are kind of SOL right now.

[iamnoobplzhelp]

After reading through this thread it seems that none of you really have a clue what is going on. Wild accusations of ASIC miners are just silly. The price tripled, investors got excited and bought hardware, and now it is coming online. Its not all that complicated.

P.S. There is a moratorium on selling graphics cards in bulk right now as so many have been purchased the graphics card companies are unable to meet their retail demands to customers/partners. So in turn they have allocated all remaining stock to those partners and large mining firms are kind of SOL right now.

Do you have evidence about the moratorium? Or just speculation?

[YIz]

Just wait until all the new batches of cards arrive at stores. people will start buying them like crazy and the hashrate will go to space.
The current hashrate jump is probably because many gamers and people who own GPUs got into mining because it got to mainstream news recently.

[Metroid]

Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01
Block 4500000, approx ETH supply 95912556, time '2018-11-03 05:55:48.912370' blocktime 136.71

Current block is 3,904,791, i wonder when ETH network will hit  4000000 and it looks like that after 2018, eth will be close to impossible to mine if things stay the same.

[Pennywis3]

Don't worry, we will soft fork the crap out of this and fix it 

[sp_]

Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01

...

Difficulty up, price down.

[adaseb]

With the Metropolis release these block times will be fixed back to 14 seconds however the Ethereum foundation devs are delaying the release as late as possible to control the supply.

[CarlOrff]

The speed of the dificulty increase is a problem for the little miners like lot of us.
Not sur that the all the money invested in the lasts weeks can have enough return, even with a lot of months.

[gateway]

Holy carp 11%+ in one go!

It would be logical to assume at this point an ASIC, there are and will be other future dagger coins, even once ETH goes PoS

Crazy times gentlemen, think ill stop buying ti's for a while see where mining goes in next 30 days or so, thx for the info man!

EDIT: Sorry was late to the game posting, and as many people have said, its not ASIC..

Original:

Not sure about ASIC since it takes a lot of development time, resources and money.  It doesn't *seem* to make sense since at some
point ETC will go to POS, granted starting out at %1 but will go over time, making miners obsolete at some point.  (still down the road).

However anything is possible

[sp_]

Block 3000000, approx ETH supply 87962556, time '2017-01-16 00:38:33.067775' blocktime 14.86
Block 3500000, approx ETH supply 90612556, time '2017-04-11 18:09:34.273529' blocktime 15.27
Block 4000000, approx ETH supply 93262556, time '2017-08-15 18:20:24.642729' blocktime 30.01

...

Difficulty up, no security, price down.

With the Metropolis release these block times will be fixed back to 14 seconds however the Ethereum foundation devs are delaying the release as late as possible to control the supply.

Out of budget, They need an iceage to swallow the emission.