Bitcoin Forum
November 21, 2017, 02:21:18 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: Difficulty +30% in about 3h  (Read 2203 times)
Le Happy Merchant
Hero Member
*****
Offline Offline

Activity: 634



View Profile
September 26, 2013, 01:49:59 AM
 #21

difficulty and price have 0 correlation.

Correlation they definitely have, causation on the other hand...

1511274078
Hero Member
*
Offline Offline

Posts: 1511274078

View Profile Personal Message (Offline)

Ignore
1511274078
Reply with quote  #2

1511274078
Report to moderator
Join ICO Now A blockchain platform for effective freelancing
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
crazy_rabbit
Legendary
*
Offline Offline

Activity: 1176


RUM AND CARROTS: A PIRATE LIFE FOR ME


View Profile
September 26, 2013, 11:58:15 AM
 #22

So did the price go up 30% too?

more or less retired.
niothor
Hero Member
*****
Offline Offline

Activity: 546


Niothor


View Profile WWW
September 26, 2013, 12:09:23 PM
 #23

So did the price go up 30% too?

Of course it did ....NOT!

sardokan
Legendary
*
Offline Offline

Activity: 1400



View Profile
September 26, 2013, 12:28:19 PM
 #24

faster Increase of total hashrate => blocks found more often => more bitcoins
Increase of total hashrate => raise of difficulty => hardware investments to extract coins go higher

Price will be something depending on this, more coins, more hardware to extract them, will miner speculates on coins to recoup money invested in hardware, or will this be diluated because more coins are mined ?

I let you guess the answer, that will depend on what do the miners crossed with demand

Regards
Endgame
Sr. Member
****
Offline Offline

Activity: 411



View Profile
September 26, 2013, 02:08:32 PM
 #25

Difficulty and price have a complex relationship. While generally difficulty follows price, and not the other way round, difficulty can impact price in some limited situations. For example when it means a mass influx of new users. On this occasion though the rising difficulty is simply due to delivery of a few more ASICS, which is expected and already factored into the price. So the general rule applies and this should have no price impact.
Miz4r
Legendary
*
Offline Offline

Activity: 1218


View Profile
September 26, 2013, 02:17:20 PM
 #26

Difficulty and price have a complex relationship. While generally difficulty follows price, and not the other way round, difficulty can impact price in some limited situations. For example when it means a mass influx of new users. On this occasion though the rising difficulty is simply due to delivery of a few more ASICS, which is expected and already factored into the price. So the general rule applies and this should have no price impact.

What about a mass influx of people running away from the ASIC market back into bitcoin due to the increasing difficulty? The fear and panic among the people with ASIC pre-orders is only just beginning...

Bitcoin = Gold on steroids
Its About Sharing
Legendary
*
Offline Offline

Activity: 1288


Antifragile


View Profile
September 26, 2013, 06:45:01 PM
 #27

So, if we go up every 10 days by 30% in difficulty, we might see this: (My numbers are a bit low, started with 145 million)
October 6 - 188.5 million
October 16- 245.05 "
October 26- 319 "
November 2 - 414 "

This sure makes things interesting.

I just don't think we will see it personally. I think things will slow down... or I hope so.  Grin

IAS

BTC = Black Swan.
BTC = Antifragile - "Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty. Robust is not the opposite of fragile.
Miz4r
Legendary
*
Offline Offline

Activity: 1218


View Profile
September 26, 2013, 07:46:57 PM
 #28

Slow down? LOL, things will only accelerate from here on out. I expect to see 40-60% difficulty jumps within the next two months, the amount of standing pre-orders out there are truly scary. Up till now the 30% jumps are mainly caused by BFL and Bitfury only. Once KNC, Hashfast and others start shipping things are going to go to a whole new level. Only once it overshoots and the most efficient miners out there are only profitable at free or low electricity costs we will see miners capitulate and things slowing down again. Maybe around 4-5 billion difficulty, perhaps even higher.

Bitcoin = Gold on steroids
Odalv
Legendary
*
Offline Offline

Activity: 1260



View Profile
September 26, 2013, 07:47:56 PM
 #29

So, if we go up every 10 days by 30% in difficulty, we might see this: (My numbers are a bit low, started with 145 million)
October 6 - 188.5 million
October 16- 245.05 "
October 26- 319 "
November 2 - 414 "

This sure makes things interesting.

I just don't think we will see it personally. I think things will slow down... or I hope so.  Grin

IAS

5+ Phash/s at the end of year. (10x more then I expected at the begin of year :-) )
sardokan
Legendary
*
Offline Offline

Activity: 1400



View Profile
September 26, 2013, 07:50:08 PM
 #30

It's 2500 ASICs from cointera for exemple, and they are not alone.
Jumpy
Full Member
***
Offline Offline

Activity: 168



View Profile
September 28, 2013, 03:22:19 AM
 #31

All of the proposed increases in price would happen gradually as a result of new tradeoffs changing equilibrium. The guy that bought 20 ASICs isn't suddenly going to buy more BTC, but newcomers will be more likely to invest in coin rather than equipment. However, that trend is already known and happening.

Mining and BTC Price are correlated but don't have a causal relationship either way.

Hfleer
Sr. Member
****
Offline Offline

Activity: 448


Changing avatars is currently not possible.


View Profile
September 28, 2013, 04:38:10 AM
 #32

Well those recently purchasing mining gear will be even less profitable, perhaps they will see a better choice is to buy BTC in bulk till the demand for mining gear settles.

█████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████
▓▓▓▓▓  BIT-X.comvvvvvvvvvvvvvvi
→ CREATE ACCOUNT 
▓▓▓▓▓
█████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!