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Author Topic: Once again, Holy difficulty jump, Batman!!!!  (Read 6838 times)
timk225
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October 17, 2013, 04:42:38 PM
 #21

Well then those ASIC manufacturers are morons for letting the money get away like that.  I'd have those ASICs pimping for me for 3 months each before allowing the people who paid for them to have them.
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armodilloben
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October 18, 2013, 11:25:18 AM
 #22

Maybe we can aggree on a certain increase of difficulty / month, given in %?

I think it is 80-120%.

What do you think?

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October 18, 2013, 11:47:28 AM
 #23

It really just depends on the flow of hardware/hashing power since they are working on/with tightest die set they can we will eventually see a plateau that comes from market saturation since the machines wont be able to get much faster.
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October 18, 2013, 01:10:16 PM
 #24

Big jump coming ahead, Hashfast 1PH/s and KNCMiner 0.5PH/s..

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October 18, 2013, 08:08:47 PM
 #25

Some with free electricity will keep mining.
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October 18, 2013, 11:27:04 PM
 #26

Well then those ASIC manufacturers are morons for letting the money get away like that.  I'd have those ASICs pimping for me for 3 months each before allowing the people who paid for them to have them.

Actually despite what others have said, it's not out of the realm of possibility that this is in fact broadly what happened - that all ASIC manufacturers did mine on their products for some time before shipping them out. (Though three months is definitely ruled out as too long. Three weeks... perhaps)

First off, we know that's exactly what ASICMINER did and is doing, since it was their explicitly stated business model all along. Secondly, this is consistent with the properties of an exponential graph. Shifting an exponential curve to the left is mathematically equivalent to shifting it up.

If I've said anything amusing and/or informative and you're feeling generous:
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razorfishsl
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October 20, 2013, 09:37:15 AM
 #27

You guys are in for a bit of a surprise........
Much of this is from China and if you were to find out how much they are about to bring on line, you will piss your pants.

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October 20, 2013, 01:17:05 PM
 #28

You guys are in for a bit of a surprise........
Much of this is from China and if you were to find out how much they are about to bring on line, you will piss your pants.

You mean they are getting ready to dump all the BTC?

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October 21, 2013, 08:56:15 AM
 #29

Have you noticed the BTC price jump Mister Batman ?

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timk225
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October 21, 2013, 03:02:00 PM
 #30

$193 right now, damn I wish I had bought BTC when it was in the $60's a month or so ago......

LTC down to $1.67, and I have 200 LTC.  Son of a bitch. Angry
armodilloben
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October 22, 2013, 02:41:44 PM
 #31

Maybe we can aggree on a certain increase of difficulty / month, given in %?

I think it is 80-120%.

What do you think?

For whoever is interested in a percentual growth of Difficulty:

I think we had 60-80%, in the last few month the percentual increase was about 80-120%.

The current increase (l30d) is 138 %.

Mining with "ordinary" (everything except latest rigs that heavily bring in ROI) devices in central Europe is a joke. The increasing difficulty suggests that the bitcoin can possibly not climb that high that mining would be something that could be done by a broad audience of users.



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October 22, 2013, 05:53:32 PM
 #32

$193 right now, damn I wish I had bought BTC when it was in the $60's a month or so ago......

LTC down to $1.67, and I have 200 LTC.  Son of a bitch. Angry
lol

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October 22, 2013, 05:56:25 PM
 #33

$193 right now, damn I wish I had bought BTC when it was in the $60's a month or so ago......

LTC down to $1.67, and I have 200 LTC.  Son of a bitch. Angry
lol


I bought it at $9... and sold it at the "peak" of $45.

I'm a stock market wizard.

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DeathAndTaxes
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October 22, 2013, 05:59:13 PM
 #34

Well then those ASIC manufacturers are morons for letting the money get away like that.  I'd have those ASICs pimping for me for 3 months each before allowing the people who paid for them to have them.

Makes a note to never do business with tmk225.
c1010010
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October 22, 2013, 06:25:48 PM
 #35

heh

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October 22, 2013, 06:28:03 PM
 #36

Maybe we can aggree on a certain increase of difficulty / month, given in %?

I think it is 80-120%.

What do you think?
Who's "we"?
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October 22, 2013, 06:33:14 PM
 #37

Well then those ASIC manufacturers are morons for letting the money get away like that.  I'd have those ASICs pimping for me for 3 months each before allowing the people who paid for them to have them.

Makes a note to never do business with tmk225.
noted...lol

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Bicknellski
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October 23, 2013, 05:57:24 AM
 #38

And people complain because they are losing money......never ceases to amaze.  If you didn't see this coming, you have no one to blame but yourself. It has been covered extensively for months..(almost a year at this point) that this would happen.

The real kick in the teeth is that people have been waiting for many months (or over a year) for hardware that was promised to have shipped long ago - when it was going to be worth something!  This difficulty rise is just pouring salt in the wounds for many people...

Alas, the ability to print money is relegated to the rich yet again...  go figure.

Another way of looking at that is it was THEFT. A company had produced the unit, mined with it and then shipped 12 months late by any definition that is theft.

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armodilloben
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October 23, 2013, 08:47:29 AM
 #39

And people complain because they are losing money......never ceases to amaze.  If you didn't see this coming, you have no one to blame but yourself. It has been covered extensively for months..(almost a year at this point) that this would happen.

The real kick in the teeth is that people have been waiting for many months (or over a year) for hardware that was promised to have shipped long ago - when it was going to be worth something!  This difficulty rise is just pouring salt in the wounds for many people...

Alas, the ability to print money is relegated to the rich yet again...  go figure.

Another way of looking at that is it was THEFT. A company had produced the unit, mined with it and then shipped 12 months late by any definition that is theft.
I think that it is everything but not theft. It should be fraud. They use the money of the customers to mine bitcoins, they do not communicate on a trustworthy base (they throw smoke grenades all the time) and eventually, when the mining devices are not cost-sufficient anymore in regions where electricity does cost something, they ship it, having been able to consumate all financial benefits but still giving the customer all the risks.

Fraud. Coldly calculated, they tell customers false facts (those facts are primarily for preventing the customer to withdraw their order). Unfortunately, they are still given a forum and opportunity to make advertising on bitcointalk.org - but still i understand what implications exist when locking out particular corporates based on accusations and not real, solid jurisdictions. But after seeing the behaviour of certain BFL people, i am pretty sure, that it will not take too long until the legal jackhammer will hit BFL.

fattypig
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October 23, 2013, 12:56:52 PM
 #40

And people complain because they are losing money......never ceases to amaze.  If you didn't see this coming, you have no one to blame but yourself. It has been covered extensively for months..(almost a year at this point) that this would happen.

The real kick in the teeth is that people have been waiting for many months (or over a year) for hardware that was promised to have shipped long ago - when it was going to be worth something!  This difficulty rise is just pouring salt in the wounds for many people...

Alas, the ability to print money is relegated to the rich yet again...  go figure.

Another way of looking at that is it was THEFT. A company had produced the unit, mined with it and then shipped 12 months late by any definition that is theft.
I think that it is everything but not theft. It should be fraud. They use the money of the customers to mine bitcoins, they do not communicate on a trustworthy base (they throw smoke grenades all the time) and eventually, when the mining devices are not cost-sufficient anymore in regions where electricity does cost something, they ship it, having been able to consumate all financial benefits but still giving the customer all the risks.

Fraud. Coldly calculated, they tell customers false facts (those facts are primarily for preventing the customer to withdraw their order). Unfortunately, they are still given a forum and opportunity to make advertising on bitcointalk.org - but still i understand what implications exist when locking out particular corporates based on accusations and not real, solid jurisdictions. But after seeing the behaviour of certain BFL people, i am pretty sure, that it will not take too long until the legal jackhammer will hit BFL.

Nicely said, but they already make tons of money which they can just close down the company and run away and its pretty hard to hit them legally cause its Bitcoin.

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