Difficulty jumps 28%

[hl5460]

Avalon has sold more than 250T of chips. We are expecting 500T+ at the end of this year.

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[zvs]

Personally, I paid for my asic in $ (which I converted to BTC) so I don't care if I earn the BTC back or not, only the $.
If I had paid in BTC (say I earned through mining) then it would be a different story.

I see this a lot, and I think it's kind of a fallacy: You made the decision to buy when BTC was a certain price, and the math told you that you would make back more BTC than you invested. Effectively, you gave up that amount of $ that you could have invested in BTC alone. If you don't earn back the BTC from the miner that you paid on it, it is a worse investment than just buying the BTC in the first place.

tell 'em like it is, brother

[batman, not crabman]

Personally, I paid for my asic in $ (which I converted to BTC) so I don't care if I earn the BTC back or not, only the $.
If I had paid in BTC (say I earned through mining) then it would be a different story.

I see this a lot, and I think it's kind of a fallacy: You made the decision to buy when BTC was a certain price, and the math told you that you would make back more BTC than you invested. Effectively, you gave up that amount of $ that you could have invested in BTC alone. If you don't earn back the BTC from the miner that you paid on it, it is a worse investment than just buying the BTC in the first place.

Yeah that's actually a good point now I think about it, maybe I'd have been better off just holding the coins :/

[vapourminer]

Personally, I paid for my asic in $ (which I converted to BTC) so I don't care if I earn the BTC back or not, only the $.
If I had paid in BTC (say I earned through mining) then it would be a different story.

I see this a lot, and I think it's kind of a fallacy: You made the decision to buy when BTC was a certain price, and the math told you that you would make back more BTC than you invested. Effectively, you gave up that amount of $ that you could have invested in BTC alone. If you don't earn back the BTC from the miner that you paid on it, it is a worse investment than just buying the BTC in the first place.

This "if you had kept the BTC..." thing.

I like mining, and have always sold half (or, preferably, directly buy stuff with them) and kept half.

the point of bitcoins is to USE them.

[dan99]

mostly newbie talk, but interesting none the less

[bitmateco]

so when is next diff jump??

[MooC Tals]

so when is next diff jump??

19339258.00    19877609.94    2.78%    13d 13hr 36m 10s

http://allchains.info/

[PuertoLibre]

so when is next diff jump??

19339258.00    19877609.94    2.78%    13d 13hr 36m 10s

http://allchains.info/

Four hours have passed and it is now reading as: 11d 7hr 37m 3s

No doubt it will shrink even further to less than 7 days.

[Syke]

This "if you had kept the BTC..." thing.

I like mining, and have always sold half (or, preferably, directly buy stuff with them) and kept half.

the point of bitcoins is to USE them.

Do you like less bitcoins or more bitcoins? Buying a miner that generates less bitcoins than it cost to purchase it just leaves you with less bitcoins to use.

[vapourminer]

This "if you had kept the BTC..." thing.

I like mining, and have always sold half (or, preferably, directly buy stuff with them) and kept half.

the point of bitcoins is to USE them.

Do you like less bitcoins or more bitcoins? Buying a miner that generates less bitcoins than it cost to purchase it just leaves you with less bitcoins to use.

my point was, I get rid of half anyway. that has been my MO from the beginning.

Im in this for fun, supporting network security, buying stuff with bitcoins (directly if possible) and playing with new hardware/tech. and be part of the Grand Experiment.

sure, making money is nice; Im way ahead of the game at this point.

[Crindon]

my point was, I get rid of half anyway. that has been my MO from the beginning.

Im in this for fun, supporting network security, buying stuff with bitcoins (directly if possible) and playing with new hardware/tech. and be part of the Grand Experiment.

sure, making money is nice; Im way ahead of the game at this point.

This part is really important to some. I love how my GPUs look and piecing together a new system was fun. I saw the Jalapenos and they looked fantastic, but too bad they are vaporware at this point. The original version that looked like a coaster was really neat.

[hl5460]

I actually order a 16-chip avalon (4.5g)at the price of around 400 USD or 4 btc at current rate. I am expecting to mine 4 btc within a year. If btc rate goes up, that would be very helpful to get me refunded earlier than expected.

[MooC Tals]

so when is next diff jump??

19339258.00    19877609.94    2.78%    13d 13hr 36m 10s

http://allchains.info/

Four hours have passed and it is now reading as: 11d 7hr 37m 3s

No doubt it will shrink even further to less than 7 days.

2.78%    19339258.00    22356754.47    15.60%    11d 18hr 34m 35s

Just an update:

WTH? Yea why is that? Does the estimated date change as well? Thats weird.. I did not know that changes also.

[Amph]

This "if you had kept the BTC..." thing.

I like mining, and have always sold half (or, preferably, directly buy stuff with them) and kept half.

the point of bitcoins is to USE them.

Do you like less bitcoins or more bitcoins? Buying a miner that generates less bitcoins than it cost to purchase it just leaves you with less bitcoins to use.

if you buy a game you have less money, but you gain the entertainment
for some people mining is very funny

[Eastwind]

so when is next diff jump??

19339258.00    19877609.94    2.78%    13d 13hr 36m 10s

http://allchains.info/

Four hours have passed and it is now reading as: 11d 7hr 37m 3s

No doubt it will shrink even further to less than 7 days.

2.78%    19339258.00    22356754.47    15.60%    11d 18hr 34m 35s

Just an update:

WTH? Yea why is that? Does the estimated date change as well? Thats weird.. I did not know that changes also.

If you go to http://allchains.info/, you will see the latest estimated difficulty in the next round.

[andrewsg]

No doubt it will shrink even further to less than 7 days.

2.78%    19339258.00    22356754.47    15.60%    11d 18hr 34m 35s

Just an update:

WTH? Yea why is that? Does the estimated date change as well? Thats weird.. I did not know that changes also.

Because the diff doesn't change after a set time, it changes after a set number of blocks. Also, estimates just after a retarget, such as the ones we are looking at right now - are very unreliable.

[muyuu]

Bye bye botnets. Time to move to alt-cons where you belong.

[caish5]

The latest difficulty predictions are looking like it's going to level off.
Which suits me just fine

[FloridaBear]

The latest difficulty predictions are looking like it's going to level off.
Which suits me just fine

Well, I think it's awfully early to project that. All we know for sure is that we increased 28% and then 24%. I would be pretty surprised to see an increase under 10%, though it's possible. We've averaged ~18% for a few months, so a reversion to the mean wouldn't be too surprising. That said, it sure seems like Avalon batch 2/3 will be shipping for awhile, and BFL keeps ramping up shipping. No sign that ASICMINER is slowing their deployment either. The ASIC wave is still building!

[caish5]

You are right of course.
But i think the truly massive rises may be behind us.