new bitcoin difficulty to 263,358,983 and future profitability of mining

[corsaro]

By 4 hours, bitcoin network, will set difficulty to ~263,358,983

This difficulty change, starts a new era in bitcoin mining.

This is a very interesting excel table with history of bitcoin difficulty changes
https://docs.google.com/file/d/0B6a17Qe3LReURF91ZE1HdTFsRE0/edit?usp=sharing

So, making some calculations, considering all recent difficulty changes, and that every ~10 days difficulty increases of ~30%,
I think that if you plan to start a mining activity Today, you have not to pay more then 0.05 bitcoins per GigaHash
if you want to make profit after 1 month of mining.

Starting from today, to plan a new profitable mining activity, we have to start thinking in Terahash and not anymore in Gigahash

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[squall1066]

Starting from today, to plan a new profitable mining activity, we have to start thinking in Terahash and not anymore in Gigahash

This is so true, The Gigahash era didn't last long tho 

/Rant
What annoys me about this era is the people who don't understand the difference between fiat world and crypto world, For EG:- People selling ASIC hardware here and linking to e-bay asking OVER the new price because it's in hand, Sure if your new and want to pay cash to start mining and loose 80% of capitol as the thing will never ROI go for it.
/Rant over

[corsaro]

yes. Most probably small "gigahashes miners", will be good only for mining some alternative SHA-256 cryptocoins.

[Leehoya]

Goodbye BFL 5GH miners. Was about to buy cex.io ghashes but on a second thought, no.

[corsaro]

Goodbye BFL 5GH miners. Was about to buy cex.io ghashes but on a second thought, no.

yes, I think "cex io" is an excellent and innovative platform to buy gigahashes.

Gigahash price is made only by the market.

Anyway, actually market price of 0.14 BTC per gigahash is too high and not profitable if you start today a new bitcoin mining investment. This price was good 25 days ago, not now.
I think that considering new difficulty level, gigahash price should be 0.07~0.05 BTC , but probably market price is influenced by other factors, than mathematic.
Considering, new difficulty level and that every 10 days difficulty will increase of ~30%  it is mathematically impossible to make profit, buying today a gigahas at 0.14BTC

Buying today at 0.14 you could make profit, if you could sell by 3-4 months your remained gigahashes at 0.09 ~ 0.10

[Buffer Overflow]

Cool. Higher the better.

[Leehoya]

We will reach 1billion very quickly this way.

Certainly, very soon. Just hoping that it will not happen so fast. Perhaps some miners would turn to alt coins mining. And difficulty increase would slow down.

[corsaro]

We will reach 1billion very quickly this way.

yes.

on date 10/26/2013 difficulty could be 331,906,650.4
on date 11/05/2013 difficulty could be 431,478,645.52
on date 11/15/2013 difficulty could be 560,922,239.176
on date 11/25/2013 difficulty could be 729,198,910.928
on date 12/05/2013 difficulty could be 947,958,584.206
on date 12/15/2013 difficulty could be 1,232,346,159.46

these are only estimates, considering recently difficulty increases about 30% every 10 days

[Leehoya]

We will reach 1billion very quickly this way.

yes.

on date 26/10/2013 difficulty could be 331,906,650.4
on date 05/11/2013 difficulty could be 431,478,645.52
on date 15/11/2013 difficulty could be 560,922,239.176
on date 25/11/2013 difficulty could be 729,198,910.928
on date 05/12/2013 difficulty could be 947,958,584.206
on date 15/12/2013 difficulty could be 1,232,346,159.46

Panic refunds of BFL buyers will happen real soon.

[corsaro]

these are only estimates, considering recently bitcoin difficulty increases about 30% every 10 days
Anyway, consider that fortunately there are a lot of SHA-256 alternative cryptocoins to be mined

Personally I'll continue mining bitcoin with my mining rig, for other 3-4 months, but consider it has started to mine since beginning of september, so it made its work, and has been profitable, and will continue being profitable for other 3-4 months.

So, after Jan~Feb 2014 I'll evaluate stopping mining bitcoin, and starting mining alternative sha-256 cryptcocoins.

[frankenmint]

these are only estimates, considering recently bitcoin difficulty increases about 30% every 10 days
Anyway, consider that fortunately there are a lot of SHA-256 alternative cryptocoins to be mined

Personally I'll continue mining bitcoin with my mining rig, for other 3-4 months, but consider it has started to mine since beginning of september, so it made its work, and has been profitable, and will continue being profitable for other 3-4 months.

So, after Jan~Feb 2014 I'll evaluate stopping mining bitcoin, and starting mining alternative sha-256 cryptcocoins.

no problem just keep mining until difficulty hits 60Billion then call it quits.  It wasn't 6 months ago that 50 GH was no joke now its damn near chump change in a few weeks...that is if you are the type to mine and sell back to pay off debt right away.  If you hold it may reap rewards when you cash out.  Also speaking to legitimacy, wouldn't it qualify as a long term capitol gain if you didn't cash out mined coins or traded coins for at least 2 years if it were major amounts that were to be converted for substantial purchases such as homes or nice cars?  (Sorry I dropped off topic)

[FuzzyBear]

1 block to go... wonder who gets it.... come on little CPU solo miner!!

[corsaro]

1 block to go... wonder who gets it.... come on little CPU solo miner!!

Next Difficulty
in 2 blocks
267,254,986

[corsaro]

1 block to go... wonder who gets it.... come on little CPU solo miner!!

Difficulty   267,731,249

[greyhawk]

Estimated Next Difficulty: 529,565,380 (+97.80%) 

Bomchicka-bomchicka-bomchicka-pow-wow.

[FuzzyBear]

1 block to go... wonder who gets it.... come on little CPU solo miner!!

Next Difficulty
in 2 blocks
267,254,986

really?
http://allchains.info/

btc    264095    11.74G    2016    264096    1    99.95%    189281248    267598371    41.38%    0d 0hr 7m 4s

still no one found it yet

[pand70]

This difficulty change, starts a new era in bitcoin mining.

The new era is that finally people will start buying bitcoins instead of overpriced crap like usb miners ...

[FuzzyBear]

gtz to GHash.Io for finding the block... now if only this was accurate...

btc    264097    11.74G    2016    266112    2015    0.05%    267731248    134990545    -49.58%    27d 18hr 4m 10s

but yeah hopefully this will push the BTC price up higher and all the miners for sale in BTC down!

FuzzyBear

[corsaro]

gtz to GHash.Io for finding the block... now if only this was accurate...

btc    264097    11.74G    2016    266112    2015    0.05%    267731248    134990545    -49.58%    27d 18hr 4m 10s

but yeah hopefully this will push the BTC price up higher and all the miners for sale in BTC down!

FuzzyBear

probably people will start mining other sha-256 currencies?
This could slow down difficulty increase for next months??

zeta, terra, asic, frei are more profitable now then bitcoin
see here http://www.coinwarz.com/cryptocurrency/

[vulgartrendkill]

This difficulty change, starts a new era in bitcoin mining.

The new era is that finally people will start buying bitcoins instead of overpriced crap like usb miners ...

with BTC close to £100, I wish I had done that to start with.  But mining is, erm fun...