How long should it take to reach the next difficulty?

[karmadog]

 
Since only a few people have ASICs at the moment..
How soon days..weeks..months?

[vokain]

Since only a few people have ASICs at the moment..
How soon days..weeks..months?

isn't it every 2016 blocks or something like that
edit: aka every two weeks on average

https://en.bitcoin.it/wiki/Difficulty

[karmadog]

Two weeks!?
Whats the point of even having an ASIC if it increases so quickly

[vokain]

Two weeks!?
Whats the point of even having an ASIC if it increases so quickly

competition

aka why I don't mine, barrier of entry into profits and all that.

[puffpuffpass]

that's why ASICMINER shares are great, and you can buy passthru's for 1/100th of the share price if you cannot afford the whole 2.5BTC share price.

[vokain]

that's why ASICMINER shares are great.

Man, I was there when they first IPO'd and I did not think they were legitimate. Mind you, this was at the cusp of Ponziland's collapse. But on another topic, are shares of ASICMINER legal? GLBSE shut down because no company can actually legitimately issue securities without following regulations.

[puffpuffpass]

that's why ASICMINER shares are great.

Man, I was there when they first IPO'd and I did not think they were legitimate. Mind you, this was at the cusp of Ponziland's collapse. But on another topic, are shares of ASICMINER legal? GLBSE shut down because no company can actually legitimately issue securities without following regulations.

good question. I should look into that since I own PT's. and also I did not get in early because I thought the whole BTC stock thing was stupid, which was stupid of me. I should have done more research in ASICMINER specifically. I remember seeing the ticker and rolling my eyes, thinking why would they even create this? now I don't question, it is what it is. take it or leave it.

[karmadog]

Two weeks!?
Whats the point of even having an ASIC if it increases so quickly

competition

aka why I don't mine, barrier of entry into profits and all that.

Where do you get 2 weeks from?

[vokain]

Two weeks!?
Whats the point of even having an ASIC if it increases so quickly

competition

aka why I don't mine, barrier of entry into profits and all that.

Where do you get 2 weeks from?

2016 blocks / ~6 blocks per hour ( / 24 hours / 7days) = ~2 weeks

[karmadog]

So each time the difficulty changes how much does it change by each time?

[vokain]

https://en.bitcoin.it/wiki/Difficulty

[Malawi]

Two weeks!?
Whats the point of even having an ASIC if it increases so quickly

It does not necessarily increase. The difficulty is retargeted. If you have an ASIC, you immediately get a larger portion of the combined hashing power. They deliver 10 times the output compared to a GPU at the same price. The real effect of ASICs are that GPU's become obsolete.

[endriuska]

That's what i use:
http://dot-bit.org/tools/nextDifficulty.php

[GigaWave]

Derp derp ..Bitcion? Googles 'bitcoin mining calculator' Derpa!?...OMG I CAN BECOME RICH IN A FEW MONTHS!  ...*payes for pre-order ASIC* ...*Goes to bitcoin forum and ask how Mining works*  *ask stupid questions*  ...derpa derpa?  *ask more stupid questions* DERPA DERPA! *rants and raves how its unfair*  *hopefully gets a refund and is never heard from again*

PSA: Use you own damn head and stop asking everyone to spoon feed you.

Will this type of threads ever stop?

[af_newbie]

Since only a few people have ASICs at the moment..
How soon days..weeks..months?

bitcoinwatch.com

[Trongersoll]

That's what i use:
http://dot-bit.org/tools/nextDifficulty.php

so, thing are due to change... immediately? Ack.

[Malawi]

That's what i use:
http://dot-bit.org/tools/nextDifficulty.php

so, thing are due to change... immediately? Ack.

ASICS are coming online pretty fast now, we might see an exponential increase in difficulty soon. (Within next month)

[Trongersoll]

That's what i use:
http://dot-bit.org/tools/nextDifficulty.php

so, thing are due to change... immediately? Ack.

ASICS are coming online pretty fast now, we might see an exponential increase in difficulty soon. (Within next month)

no, i meant that according to that table, we are do for a change tommorrow.

[Malawi]

That's what i use:
http://dot-bit.org/tools/nextDifficulty.php

so, thing are due to change... immediately? Ack.

ASICS are coming online pretty fast now, we might see an exponential increase in difficulty soon. (Within next month)

no, i meant that according to that table, we are do for a change tommorrow.

Aha :-)

Still - difficulty is most likely to rise pretty fast the next few times it's retargeted. Then there may be a leveling off while most GPU's go to scrypt coins and ASIC's gets to dominate BTC.

[lemonys]

Since only a few people have ASICs at the moment..
How soon days..weeks..months?

Looks like just we're just a few minutes away from a 28% increase... 4 blocks to go....