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Author Topic: Next Difficulty in 23 blocks  (Read 2958 times)
Hellobtc
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June 24, 2011, 10:02:37 AM
 #1

Next Difficulty in 23 blocks    1,371,967   http://www.bitcoinwatch.com/

is this increase true ?
1480942633
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Clipse
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June 24, 2011, 10:06:39 AM
 #2

Will be slightly higher, pain days!

...In the land of the stale, the man with one share is king... >> Clipse

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Oldminer
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June 24, 2011, 10:07:15 AM
 #3

I like cheese...  Grin

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
bcpokey
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June 24, 2011, 10:15:25 AM
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while most people cannot predict the future, i'm going to amaze you with some feats of presdigitation:

difficulty will be a bit higher than 1.372m even. Tomorrow after the difficulty increase there will be a bunch of new threads about "OMG SOMEONE BROUGHT 5 THASH OF NEW POWER ON!"
After a few days this person will disappear and the network hashing rate will vastly decrease back towards the levels it is at now, then continue to slowly increase. People will cry and moan about the new difficulty and how much less they make but they'll just keep hashing it out anyway like they should.

The future has been written.
GorgonSed
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June 24, 2011, 11:28:47 AM
 #5

omorrow after the difficulty increase there will be a bunch of new threads about "OMG SOMEONE BROUGHT 5 THASH OF NEW POWER ON!"

Wow I somehow managed to forget about those threads.

"WOW SOMEONE JUST CRANKED IT UP TO OVERDRIVE"
"UH OH LOOKS LIKE A BIG FPGA FARM JUST CAME ONLINE, WHAT DOES THIS MEAN FOR MINERS"
"NEXT DIFFICULTY ESTIMATE - 6 MILLION?!??"


I'm excited already!
saqwe
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June 24, 2011, 11:29:59 AM
 #6

Next Difficulty
in 2 blocks

ITS GONNA BE AWESOME !!!!

Chucksta
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June 24, 2011, 11:35:29 AM
 #7

/yawn
saqwe
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June 24, 2011, 11:36:56 AM
 #8

Next Difficulty
in 1 blocks

WOW THIS BETTER THAN EBAY!!!

WesleyK
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June 24, 2011, 11:40:10 AM
 #9

Here we go!

OMGWTFBBQ, who has fired up their FPGA Farm??!!
WesleyK
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June 24, 2011, 11:40:37 AM
 #10

double post
GorgonSed
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June 24, 2011, 11:48:20 AM
 #11

I'll continue:

OMG DIFFICULTY ESTIMATE OF 5516782.99327646 WHAT WILL WE DO OH GOD NO AAAHHHHH
Salzgitter
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June 24, 2011, 11:50:55 AM
 #12

So you've all noticed the slight impact of my little ASIC Experiment? Will fire up the remaining identical clusters #2, #3 and #4 within the hour... Wink
saqwe
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June 24, 2011, 12:10:58 PM
 #13

1379223.4296725

yeeehah! Grin
 

WesleyK
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June 24, 2011, 12:15:51 PM
 #14

1379223.4296725

yeeehah! Grin
 
Higher is better.... Right??

 Grin
Gabi
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June 24, 2011, 12:45:08 PM
 #15

Now, that is a big increase!
fitty
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June 24, 2011, 01:01:44 PM
 #16

Last block at BTC was 4,937,602 shares. Gonna be a rough weekend. *lol*
Grouver (BtcBalance)
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June 24, 2011, 01:19:37 PM
 #17

1379223.4296725

yeeehah! Grin
 
Higher is better.... Right??

 Grin

It doesnt matter how high it is.
The higher the difficulty, the higher the price.
The lower the difficulty, the lower the price.


Fjordbit:

"
If the rate of difficulty change goes above this amount (36.2%) and all other things stay equal, then it will stop making sense to purchase systems and instead it makes more sense to buy bitcoins. This will drive up the price of bitcoins, lowering the btc per MH/s cost for a mining rig. It is possible the difficulty could fall if people come offline, but this is doubtful as it will still make sense to run an existing system.

If the rate of difficulty change goes below this point and all other things stay equal, then it will stop making sense to buy bitcoins and instead it makes more sense to buy a system. With more people coming online, this will push up the difficulty level.

If the exchange rate of usd to btc goes up and all other things stay equal, then the btc cost of MH/s goes down, and it makes more sense to mine than buy. With more people coming online, this will push up the difficulty level.

If the exchange rate of usd to btc goes down and all other things stay equal, then the btc cost of MH/s goes down, and it makes more sense to buy than mine. This will slow the difficulty rate.

If the dollar cost of a mining rig goes down, it makes more sense to mine than buy. This could have the effect of lowering the btc exchange rate or increasing difficulty or both.

"

http://forum.bitcoin.org/index.php?topic=20219.0

bitcoin0918
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June 24, 2011, 01:35:03 PM
 #18

That's a very simplistic view.

What "makes sense" in an ideal world, and what individual people decide is right for their situation, are two different things. It's not as if a miner can just flip a switch and decide to buy rather than mine, and then flip another switch and start mining again. He may have equipment that he still needs to pay off with mining, or decide to get rid of. If he sells the equipment to recoup his money, he's not likely to go through that whole process of buying/mining/selling again. People are likely to lock themselves into either mining or buying, and are not likely to switch back and forth between just one or the other.

"So you think that money is the root of all evil?" said Francisco d'Aconia. "Have you ever asked what is the root of money?" [contd.]
Grouver (BtcBalance)
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June 24, 2011, 01:52:29 PM
 #19

That's a very simplistic view.

What "makes sense" in an ideal world, and what individual people decide is right for their situation, are two different things. It's not as if a miner can just flip a switch and decide to buy rather than mine, and then flip another switch and start mining again. He may have equipment that he still needs to pay off with mining, or decide to get rid of. If he sells the equipment to recoup his money, he's not likely to go through that whole process of buying/mining/selling again. People are likely to lock themselves into either mining or buying, and are not likely to switch back and forth between just one or the other.

I am not locking myself up.
I know plenty of people (including myself) who buy/sell and mine synchronously.

bitcoin0918
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June 24, 2011, 01:56:57 PM
 #20

I am not locking myself up.
I know plenty of people (including myself) who buy/sell and mine synchronously.
Yes, that was my point. Please re-read my post, I specifically said that people do not switch back and forth between doing JUST one or the other, despite the simplistic view that that is what "makes sense". People are likely to lock themselves into mining, due to equipment and shipping costs. For them it makes sense to keep mining, even when the ideal situation dictates that buying is preferred. While mining, they may choose to also buy, and if you do, it makes sense to buy when the difficulty/price ratio is right for buying, and sell when it is right for selling. The whole time, though, you'll still be mining.

"So you think that money is the root of all evil?" said Francisco d'Aconia. "Have you ever asked what is the root of money?" [contd.]
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