Hook^ (OP)
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June 26, 2011, 07:00:31 AM |
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It usually doesn't go down, but only up. Did a bunch of the miners decide to give up because the BTC price has stabilized? Or do the miners think the price will drop soon?
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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hugolp
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Radix-The Decentralized Finance Protocol
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June 26, 2011, 07:02:49 AM |
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It usually doesn't go down, but only up. Did a bunch of the miners decide to give up because the BTC price has stabilized? Or do the miners think the price will drop soon?
Probably the difficulty rise outpriced a bunch of miners. |
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Hook^ (OP)
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June 26, 2011, 07:14:02 AM |
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It usually doesn't go down, but only up. Did a bunch of the miners decide to give up because the BTC price has stabilized? Or do the miners think the price will drop soon?
Probably the difficulty rise outpriced a bunch of miners. Hmm. I didn't think the miners cared about price when they made their calculations.  |
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bcpokey
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June 26, 2011, 05:23:20 PM |
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It usually doesn't go down, but only up. Did a bunch of the miners decide to give up because the BTC price has stabilized? Or do the miners think the price will drop soon?
Probably the difficulty rise outpriced a bunch of miners. Hmm. I didn't think the miners cared about price when they made their calculations.  Anyway, it's been said over and over and over and over. Difficulty follows price. We had a huge huge huge jump in price, followed by tons of people buying tons of mining hardware, after that we had a huge huge huge fall in price, followed by a big jump in difficulty. Explain why difficulty would continue to rise in that scenario? I'm sick of all the threads "I CALCULATED THAT GIVEN A 50% CONTINUAL INCREASE IN DIFFICULTY MINING WILL NOT BE PROFITABLE OMGOMGOMG" that stupidly kept appearing. Makes absolutely no sense. I want some apology threads, but sadly I'm sure I'll never see those. Now, there is still room in the profitability cupboard for mining to grow, but I'm guessing that it will grow at a more conservative rate now that people don't see the magical money fountain spitting out as much gold and silver for nothing. Unless there's another price spike or media blitz I guess. |
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fitty
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June 26, 2011, 07:24:25 PM |
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It usually doesn't go down, but only up. Did a bunch of the miners decide to give up because the BTC price has stabilized? Or do the miners think the price will drop soon?
When it rises like this a lot of people who made 2-4-6 BTC a day won't like making 1-2-3 BTC a day. Sure they might still be making money but no one likes suddenly losing 40% of your return that won't be coming back. I'd also guess CPU mining now loses you money so that probably dropped a few people out too. |
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AngelusWebDesign
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June 26, 2011, 07:44:12 PM |
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CPU mining definitely is a losing proposition now. I did it as recently as 2 weeks ago, but when I put in a 3rd graphics card in my fastest rig, I needed the 60W for buffer room on my PSU. So I stopped CPU mining at that point (I was only making USD 0.20/day anyhow)
No doubt the latest difficulty push CPU mining into negative territory for *all* CPUs.
Matthew
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drknark
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June 26, 2011, 07:48:44 PM |
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It might have had something to do with bitcoins.lc having problems. Probably many miners there missed out on some mining time when the servers were down.
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no_alone
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June 26, 2011, 07:50:07 PM |
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Some bad luck maybe..
Buy you can see diff is starting to go up again/
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DC3
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June 26, 2011, 07:52:30 PM
Last edit: June 26, 2011, 08:06:10 PM by DC3 |
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fighting overheating issues in DC3, some capacity went down temporarily.... I suppose I am not the only one with such issues... 28-30 C outside...
Regards,
Vladimir.
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bcpokey
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June 26, 2011, 07:55:36 PM |
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fighting overheating issues in DC3, some capacity went down temporarily.... I suppose I am not only one with such issues... 28-30 C outside...
That's a fair point, as summer starts to roll in in force, we will definitely see a lot more people struggling with the idea of running a space heater 24/7. |
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hamdi
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June 26, 2011, 08:02:03 PM |
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scared people leave the mining market and put their cards on ebay...
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mrb
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Merit: 1027
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June 26, 2011, 11:51:55 PM |
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fighting overheating issues in DC3, some capacity went down temporarily.... I suppose I am not the only one with such issues... 28-30 C outside...
Summer is a good stress-test for PUE=1.03 datacenters ;-) |
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Mousepotato
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June 27, 2011, 04:26:24 AM |
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It usually doesn't go down, but only up. Did a bunch of the miners decide to give up because the BTC price has stabilized? Or do the miners think the price will drop soon? Sorry, that was me. I had to take my farm offline to try to run Crysis. |
Mousepotato
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fascistmuffin
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June 27, 2011, 04:41:46 AM |
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It usually doesn't go down, but only up. Did a bunch of the miners decide to give up because the BTC price has stabilized? Or do the miners think the price will drop soon? Sorry, that was me. I had to take my farm offline to try to run Crysis. I bet you didn't get it on highest settings. Maybe a few more rigs with 4x6990 might do the trick. |
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phorensic
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June 28, 2011, 04:12:46 AM |
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fighting overheating issues in DC3, some capacity went down temporarily.... I suppose I am not the only one with such issues... 28-30 C outside...
Regards,
Vladimir.
Do you really have enough hashing power to affect the charts like that? Or do I smell ego? Just wondering, all I've seen are a few photos of some of your equipment and heard a few rumors. It's hot in my mining datacenter too (bedroom). Summer has officially hit southern california. Had to back off my 605MH/s down to 600MH/s. Did you guys see me drop the charts?  |
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enmaku
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June 28, 2011, 04:17:46 AM |
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It's summer here in Las Vegas, NV and I get the feeling I'll be laughing at what most of you are calling "heat" wherever you're from. I've actually had to offload a couple nodes to the homes of friends and family to keep my apartment under 85F, it's pretty miserable really.
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AngelusWebDesign
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June 28, 2011, 04:46:17 AM |
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Yeah, it's been Summer here in Texas for at least 2 months now. Our summer (read: run A/C or die!) lasts about 6 months. It starts getting hot (more than 85) in late April, gets REAL hot during everyone else's summer, then stays pretty hot all the way to the beginning of October. And it's not brisk fall weather then, either. Oh, no no no. I've gotten mosquito bites on Thanksgiving, I kid you not! We don't even have to turn on the heat until January, and then "winter" lasts about 1 1/2 months.
Matthew
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xenon481
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June 28, 2011, 05:01:53 AM |
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fighting overheating issues in DC3, some capacity went down temporarily.... I suppose I am not the only one with such issues... 28-30 C outside...
Regards,
Vladimir.
28-30C.................... It's been 36-38C here for weeks. |
Tips Appreciated: 171TQ2wJg7bxj2q68VNibU75YZB22b7ZDr
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enmaku
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June 28, 2011, 05:54:28 AM |
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110F/43C today. That is all.
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kcobra
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June 28, 2011, 06:04:02 AM |
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110F/43C today. That is all.
It's probably a dry heat though...  |
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