Jump in Ethereum difficulty (+20%)

[zenmining]

Hi!

What happens with Ethereum difficulty today?

https://etherscan.io/chart/difficulty

Hashrate is the same, difficulty rise and reward of course down.

Anybody understand why it happened?

[hwgeek]

its planed, +20% 30 days ago, this week and another +20% next moth :-(.

[varusisog]

That is the result of difficult time bomb.

[Brokerstar]

Fingers crossed for the price to go to the moon then 👌

[adaseb]

We have been getting these jumps for a few months already and I am surprised there are many who have no idea what these are.

[Za1n]

We have been getting these jumps for a few months already and I am surprised there are many who have no idea what these are.

Why bother with researching details and informing yourself about what you are mining when instead you can continue to buy rigs at 150% normal retail prices and hope for the moon!  /s

[Vann]

The Byzantium fork planned for the second week of October will roll back the ICE AGE difficulty ramp ups and return to the network difficulty predicated on the total hash rate along with a return to 15 second block times and a reward reduction to ~3 ETH. That should make the ETH mining payouts more than they have been in the last couple of months.

https://www.youtube.com/watch?v=gxtftZB7_jA&feature=youtu.be&t=1458

[Jdope]

Its the difficulty bomb, mining eth is sure going to be very unprofitable soon and looks like the prices aren't getting any better, hopefully we can mine other stuff, check out monero if you're on amd and vtc if nvidia

[Vann]

Its the difficulty bomb, mining eth is sure going to be very unprofitable soon and looks like the prices aren't getting any better, hopefully we can mine other stuff, check out monero if you're on amd and vtc if nvidia

Right now the block reward is 5 ETH with 30 second block times, which is 10 ETH generated per minute at an artificially high difficulty from the ICE AGE ramp up's. After the Byzantium fork the block reward will be ~3 ETH every 15 seconds, or 12 ETH generated per minute and a return to a lower network difficulty predicated on the total hash rate. Assuming the price stays the same, can you explain how mining ETH will be less profitable after the fork in three weeks than it has been in the last couple of months with the ICE AGE?

[xxcsu]

Hi!

What happens with Ethereum difficulty today?

https://etherscan.io/chart/difficulty

Hashrate is the same, difficulty rise and reward of course down.

Anybody understand why it happened?

Detailed info about Ethereum Difficulty Bomb here

Another topic about Etherum difficulty jump

[dotachin]

Wait. Difficulty reflects reward share of single miner to overall emission. If we have 20% difficulty increase each month over last 5 months, now miners get only 48% of emissed eth.

WHO TAKES THE REST 52% OF MINED ETH NOW? VITALICK?

[Tmdz]

Wait. Difficulty reflects reward share of single miner to overall emission. If we have 20% difficulty increase each month over last 5 months, now miners get only 48% of emissed eth.

WHO TAKES THE REST 52% OF MINED ETH NOW? VITALICK?

Jesus dude, no one gets those "secret coins"  as they do not exist.

[dotachin]

Jesus dude, no one gets those "secret coins"  as they do not exist.

Are you saying that emission just slows down by same 52% ?

[Tmdz]

Jesus dude, no one gets those "secret coins"  as they do not exist.

Are you saying that emission just slows down by same 52% ?

That is indeed the reason the block time has increased.

less blocks = less coins.

[Mattthev]

Byzantium update coming

• Byzantium releasing October 17th at block 4,370,000
• Mining rewards to increase ~23% from current levels at that time due to difficulty bomb delay
• 3GB Mining cards good on ETH until ~12-13th November 2018 (13.5months)

https://www.reddit.com/r/EtherMining/comments/71xfvi/byzantium_update_from_dev_call_and_3gb_mining/

[dotachin]

That is indeed the reason the block time has increased.

Already figured that out: https://etherchain.org/charts/blockTime Probably it was most reliable solution to keep exchange rates, despite its slowes transactions.

[warrior333]

If the rate of fall of production why do you get ETH? Then switch to another coin. I do think that in recent years the ETH has problems. I would not be surprised if soon we are waiting for a big dump.

[Pennywis3]

Its the difficulty bomb, mining eth is sure going to be very unprofitable soon and looks like the prices aren't getting any better, hopefully we can mine other stuff, check out monero if you're on amd and vtc if nvidia

Right now the block reward is 5 ETH with 30 second block times, which is 10 ETH generated per minute at an artificially high difficulty from the ICE AGE ramp up's. After the Byzantium fork the block reward will be ~3 ETH every 15 seconds, or 12 ETH generated per minute and a return to a lower network difficulty predicated on the total hash rate. Assuming the price stays the same, can you explain how mining ETH will be less profitable after the fork in three weeks than it has been in the last couple of months with the ICE AGE?

Byzantium won't make a big difference, the profits will more or less be the same as they were before the last 20% bomb, about the same as last winter and beginning of 2017.
Since the diff is increasing and the price is not going up, ETH soon won't be a viable mining option anymore.
The only thing that can save this scenario is ETH price going up, but i don't see that happening anytime soon.
Most people that can't dual mine or can't reach 30Mh/s+ on their cards are already switching to Monero.

[antantti]

Biggest "difficulty bomb" is the ETH/ fiat price. THAT is something you all in this thread should be worried about.

[davemanet]

Biggest "difficulty bomb" is the ETH/ fiat price. THAT is something you all in this thread should be worried about.

can you explain?