[4+ EH] Slush Pool (slushpool.com); Overt AsicBoost; World First Mining Pool

[coin@coin]

Is the bitcoin boat sinking?

Looks like it, 15 hours for a block between yesterday and today... That is on Slush's Pool. If the difficulty goes to 200000000 (which is most likely) in 2 weeks time will it still be worth to mine on pools for small miners? Maybe we should all go solo? You won't get much out of pools neither solo but hey if you find a block when soloing it's all yours!   Would be nice to hear what you guys think about it.

Also I was thinking of investing in a Cointerra 2TH box but by the time I get it (Jan or probably "2 weeks time" after that deadline) the difficulty will be so high that you'd need 20TH to mine anything.

And another query, if mining will become impossible/unprofitable for most people will Bitcoin lose its steam?

[MerchantMiner]

Is the bitcoin boat sinking?

There's a ton of other threads to discuss such things

no this thread to discus such things are you censoring me ? because your selling asic miners on ebay?

[nottm28]

Is the bitcoin boat sinking?

There's a ton of other threads to discuss such things

no this thread to discus such things are you censoring me ? because your selling asic miners on ebay?

"Is the bitcoin boat sinking?" - not censoring you - just find the post incredibly tedious to read.

I'm actually selling fury miners on ebay - not asicminers - and you think I wan't to silence you in case the whole world sees your post and decides that bitcoin is no longer viable and then I will be left with unsold items? Have a word with yourself.

[MerchantMiner]

Is the bitcoin boat sinking?

Looks like it, 15 hours for a block between yesterday and today... That is on Slush's Pool. If the difficulty goes to 200000000 (which is most likely) in 2 weeks time will it still be worth to mine on pools for small miners? Maybe we should all go solo? You won't get much out of pools neither solo but hey if you find a block when soloing it's all yours!   Would be nice to hear what you guys think about it.

Also I was thinking of investing in a Cointerra 2TH box but by the time I get it (Jan or probably "2 weeks time" after that deadline) the difficulty will be so high that you'd need 20TH to mine anything.

And another query, if mining will become impossible/unprofitable for most people will Bitcoin lose its steam?

i think we have a front row seat on the fall and collapse of bitcoin, and never thought i would say that , time to cancel my ebay orders for asic miners !!!!!!!
People got greedy by making asic miners too fast , i dont think satochi thought this would happen , this wasnt in his maths
Prove me wrong someone !!

[Mudbankkeith]

Is the bitcoin boat sinking?

Looks like it, 15 hours for a block between yesterday and today... That is on Slush's Pool. If the difficulty goes to 200000000 (which is most likely) in 2 weeks time will it still be worth to mine on pools for small miners? Maybe we should all go solo? You won't get much out of pools neither solo but hey if you find a block when soloing it's all yours!   Would be nice to hear what you guys think about it.

Also I was thinking of investing in a Cointerra 2TH box but by the time I get it (Jan or probably "2 weeks time" after that deadline) the difficulty will be so high that you'd need 20TH to mine anything.

And another query, if mining will become impossible/unprofitable for most people will Bitcoin lose its steam?

i think we have a front row seat on the fall and collapse of bitcoin, and never thought i would say that , time to cancel my ebay orders for asic miners !!!!!!!
People got greedy by making asic miners too fast , i dont think satochi thought this would happen , this wasnt in his maths
Prove me wrong someone !!

If we get negative then problems follow
If we remain positive then good things happen.

Bitcoin is now an international economy not just a currency. Swings will happen. The trick is to be in the right place to take advantage of these situations.

[MerchantMiner]

Is the bitcoin boat sinking?

There's a ton of other threads to discuss such things

no this thread to discus such things are you censoring me ? because your selling asic miners on ebay?

"Is the bitcoin boat sinking?" - not censoring you - just find the post incredibly tedious to read.

I'm actually selling fury miners on ebay - not asicminers - and you think I wan't to silence you in case the whole world sees your post and decides that bitcoin is no longer viable and then I will be left with unsold items? Have a word with yourself.

well if the whole world has seen this then im doing something right, if your tired of reading these posts then maybe the writings on the wall maybe the consensus of opinion has out weighed the possitive and its what we ALL are starting to think, have a word with your self and pull ya head out the sand , we ALL loose out here m8

[MerchantMiner]

and by the way since im on this forum and im mining im just as much apart of this as anyone else i have invested interests as well thanks , BUT i wont convince myself about things that are not true. ive spent along time researching bitcoin the system the maths , and it dosnt look good i feel the small miner upto someone running 250Ghash has a problem ? if Thash system flood the market and i bought 10 of them as a small miner what dose that make me ? A small miner who has spent £10,000's who will loose his investment in a year when the 50Thash boxes are built and released , and then the 200Thash boxes have been released , talk about shooting ya self in the foot , AGAIN Prove me wrong with facts and maths not just your opinion please, im not being negative im just looking at this with out my rose tinted shades on , and im sorry for this

[KNK]

The same Bitcoin apocalypse predictions from the GPU times have proved wrong and now it is no different.
Just because the difficulty jumps too fast does not mean Bitcoin will die. The way you think, you would also say that when there are no more block rewards bitcoin will die, so why Satoshi did that? All this is not unexpected and this will not be the last huge difficulty jump, but we will have few years till the next one.

[MerchantMiner]

The same Bitcoin apocalypse predictions from the GPU times have proved wrong and now it is no different.
Just because the difficulty jumps too fast does not mean Bitcoin will die. The way you think, you would also say that when there are no more block rewards bitcoin will die, so why Satoshi did that? All this is not unexpected and this will not be the last huge difficulty jump, but we will have few years till the next one.

im talking about the jump in speed and tech, satochi said bit coin would take until 2140 to be complete ! its now something like 2040 becuase of the speed in which we mine , we are mining our way out of bitcoin, the change you speak of didnt have big company's producing massive power crunching machines, im saying the tech has shot us in the foot. im just trying to have a VALID opinion of the situation, so dont drag me to the wolves for it, once we can see whats really going on we can work together to find away we can continue , Problem Action Solution

Is this post fair ?

[KNK]

I can't agree:
'the jump in speed and tech' - compare CPU with GPU speed
'didnt have big company's producing massive power crunching machines' - dozens of GPU's from both Nvidia and ATI

once again nothing different now than the switch from CPU to GPU ... this is called (hardware) evolution and is perfectly normal and expected.

[MerchantMiner]

I can't agree:
'the jump in speed and tech' - compare CPU with GPU speed
'didnt have big company's producing massive power crunching machines' - dozens of GPU's from both Nvidia and ATI

once again nothing different now than the switch from CPU to GPU ... this is called (hardware) evolution and is perfectly normal and expected.

are you mad!!! so by your logic a jump from GPU to 1Thash is the same. i think you failed maths at school sorry but you deserve that

[KNK]

1Th/s ASIC vs 600Mh/s GPU = 600Mh/s GPU vs 360kh/s CPU

[eleuthria]

The same Bitcoin apocalypse predictions from the GPU times have proved wrong and now it is no different.
Just because the difficulty jumps too fast does not mean Bitcoin will die. The way you think, you would also say that when there are no more block rewards bitcoin will die, so why Satoshi did that? All this is not unexpected and this will not be the last huge difficulty jump, but we will have few years till the next one.

im talking about the jump in speed and tech, satochi said bit coin would take until 2140 to be complete ! its now something like 2040 becuase of the speed in which we mine , we are mining our way out of bitcoin, the change you speak of didnt have big company's producing massive power crunching machines, im saying the tech has shot us in the foot. im just trying to have a VALID opinion of the situation, so dont drag me to the wolves for it, once we can see whats really going on we can work together to find away we can continue , Problem Action Solution

Is this post fair ?

The last freshly minted Bitcoin won't be anywhere near 2040.  I believe ~2040 is when the subsidy drops below a full coin per block.  "2140" is the date where the subsidy actually becomes 0 because it would be a fraction of a satoshi.  The difficulty adjustment keeps the halving events *roughly* 4 years apart.  Obviously early on in the life of Bitcoin these events will happen more frequently because difficulty adjustments are a backwards-looking adjustment rather than forward-looking adjustment.  Exponential growth is not sustainable, and the previous posters were correct.  GPU -> ASIC is basically the same as CPU -> GPU was.  Actually, what we're seeing today isn't even close to the jumps we saw from CPU->GPU in terms of percentage growth when GPU mining first started.

The first time GPU mining was introduced is the first and only time in Bitcoin's history where the limit on a difficulty increase (+300% in a single adjustment) was ever hit.

[MerchantMiner]

The same Bitcoin apocalypse predictions from the GPU times have proved wrong and now it is no different.
Just because the difficulty jumps too fast does not mean Bitcoin will die. The way you think, you would also say that when there are no more block rewards bitcoin will die, so why Satoshi did that? All this is not unexpected and this will not be the last huge difficulty jump, but we will have few years till the next one.

im talking about the jump in speed and tech, satochi said bit coin would take until 2140 to be complete ! its now something like 2040 becuase of the speed in which we mine , we are mining our way out of bitcoin, the change you speak of didnt have big company's producing massive power crunching machines, im saying the tech has shot us in the foot. im just trying to have a VALID opinion of the situation, so dont drag me to the wolves for it, once we can see whats really going on we can work together to find away we can continue , Problem Action Solution

Is this post fair ?

The last freshly minted Bitcoin won't be anywhere near 2040.  I believe ~2040 is when the subsidy drops below a full coin per block.  "2140" is the date where the subsidy actually becomes 0 because it would be a fraction of a satoshi.  The difficulty adjustment keeps the halving events *roughly* 4 years apart.  Obviously early on in the life of Bitcoin these events will happen more frequently because difficulty adjustments are a backwards-looking adjustment rather than forward-looking adjustment.  Exponential growth is not sustainable, and the previous posters were correct.  GPU -> ASIC is basically the same as CPU -> GPU was.  Actually, what we're seeing today isn't even close to the jumps we saw from CPU->GPU in terms of percentage growth when GPU mining first started.

The first time GPU mining was introduced is the first and only time in Bitcoin's history where the limit on a difficulty increase (+300% in a single adjustment) was ever hit.

Agreed , so lets look at some more maths : the number of new people mining Vs the speed in which they mine Vs the speed in which the new faster boxes are being designed and released by the BIG companys

hows the future look, im thinking if we all got to a 1Thash Mining rig and theres & 80,000 of us ? well Peta hash is being developed so lets all have a 1Phash mining rig , wheres dose this end ? i think my ultimate question is this ......................dose the genius of satochi protect against this? so that its still fair for everyone or will HSBC own the worlds largest Hashing rig in the near future ? i dont know anymore i give up !

[MerchantMiner]

1Th/s ASIC vs 600Mh/s GPU = 600Mh/s GPU vs 360kh/s CPU

not sure thats correct?

[visdude]

If this 2.0, I want 1.0 back.  It should be a beta release; buggy as hell. 

[visdude]

I'm gonna attempt to break the spell again...

...5:38:06 and counting.

[nottm28]

1Th/s ASIC vs 600Mh/s GPU = 600Mh/s GPU vs 360kh/s CPU

not sure thats correct?

1000 GH / 0.6 GH = 1666.666

600 MH / 0.36 MH = 1666.666

Looks the same to me - simple maths...

[klondike_bar]

Is the bitcoin boat sinking?

Looks like it, 15 hours for a block between yesterday and today... That is on Slush's Pool. If the difficulty goes to 200000000 (which is most likely) in 2 weeks time will it still be worth to mine on pools for small miners? Maybe we should all go solo? You won't get much out of pools neither solo but hey if you find a block when soloing it's all yours!   Would be nice to hear what you guys think about it.

Also I was thinking of investing in a Cointerra 2TH box but by the time I get it (Jan or probably "2 weeks time" after that deadline) the difficulty will be so high that you'd need 20TH to mine anything.

And another query, if mining will become impossible/unprofitable for most people will Bitcoin lose its steam?

i think we have a front row seat on the fall and collapse of bitcoin, and never thought i would say that , time to cancel my ebay orders for asic miners !!!!!!!
People got greedy by making asic miners too fast , i dont think satochi thought this would happen , this wasnt in his maths
Prove me wrong someone !!

Your first problem is using eBay to buy a bitcoin miner. The second is I have no clue what you're arguing, that bitcoin is going to die due to asic, that asic is 'cheating', or that the growth curve right now looks any different from the one 3 years ago where using gpus was discovered

[gourmet]

Last two blocks have taken more than 22 hours 12 minutes together... Less than two hours missing to a full day.