Difficuly increase due in 2 hours.... Will kill a few miners off

[Blackswan122]

Well with the difficulty due to rise from 707.408.283 to an astounding 911.212.093 in the next two hours it will render many miners obsolete unless the BTC price tries to rise with it. We are approaching a crunch time... If it continues like this many small Mining rigs will have to fall off the network or run at a loss... In my opinion the only way forward is Hosted mining where you can tailor your Hashrate to what you require. Waiting for Butterfly Labs and Co to produce the hardware is proving risky and very upfront expensive...money sat in their bank accounts earning them money. Your thoughts are appreciated!

[DrG]

What are you talking about?  I'm paying $0.33 per KWh and I still have a crappy BFL 60GH/s single mining at my house.  It doesn't go negative until around Feb or March.

The only miners that might be dropping off would be a few stubborn FPGA miners who were mining at a loss... their measly output is noting compared to the current 8PH/s.

We will not be seeing miner attenuation for a few more months unless the owners are "confuzzled"

[Blackswan122]

What are you talking about?  I'm paying $0.33 per KWh and I still have a crappy BFL 60GH/s single mining at my house.  It doesn't go negative until around Feb or March.

The only miners that might be dropping off would be a few stubborn FPGA miners who were mining at a loss... their measly output is noting compared to the current 8PH/s.

We will not be seeing miner attenuation for a few more months unless the owners are "confuzzled"

Do that calculation in 2 hours....and Feb March won't be there anymore...Or greatly reduced...(Jan is currently $590) for you. The problem is your 350w odd of power required. I hope you had it online for a few months. I wish I had one...I canceled my orders for Hosting by Gh...should be getting 167gh sometime this millenium. lol. As I said it's all speculation. With your rig you shpould be ok. but smaller ones like Jals etc....will look just good on the shelf.. As I said things are moving so fast... nobobdy can really predict the future... But it's fun trying too. I will be buying hash...not equipment as I can get in and out quickly. Sell your rig and buy fluid hashing power before you are left with a Dino...

[Operatr]

Bitcoin Difficulty:   707,408,283
Estimated Next Difficulty:   912,299,591 (+28.96%)
Adjust time:   After 17 Blocks, About 2.1 hours
Hashrate(?):   6,829,427 GH/s
Block Generation Speed(?):   
1 block: 7.4 minutes
3 blocks: 22.2 minutes
6 blocks: 44.5 minutes
Updated:   4:15 (5.6 minutes ago)

Nov 29 2013   707,408,283   16.07%   5,063,826 GH/s
Nov 17 2013   609,482,680   19.29%   4,362,847 GH/s
Nov 05 2013   510,929,738   30.70%   3,657,378 GH/s
Oct 26 2013   390,928,788   46.02%   2,798,377 GH/s
Oct 16 2013   267,731,249   41.45%   1,916,495 GH/s
Oct 06 2013   189,281,249   27.19%   1,354,928 GH/s
Sep 25 2013   148,819,200   32.13%   1,065,289 GH/s


It's not that bad, an average of 25% per jump seems to be the norm at the moment.

[HellDiverUK]

I'll still be mining for a long time to come.  I'm just about to add another 40GH to my existing 32GH.  Power is essentially free for me (6.5kW PV array on the roof, which makes enough in a month in the summer to run the mining rig for a year).

[Blackswan122]

I'll still be mining for a long time to come.  I'm just about to add another 40GH to my existing 32GH.  Power is essentially free for me (6.5kW PV array on the roof, which makes enough in a month in the summer to run the mining rig for a year).

Nice love solar... what equipment have you got? I have to keep the wife happy.... ;-)....So I can only run my little RaspPi miner....plus she doesn't really understand it all...lol

[bspus]

The problem is your 350w odd of power required...  ...With your rig you shpould be ok. but smaller ones like Jals etc....will look just good on the shelf..

If it makes sense to run the 60GH BFL, it makes just as much sense to run the 5GH one too. Power consumption per GH is nearly identical.
I'm not saying anyone should consider buying one now, but if you have it, it makes no sense to have it idle after today, and maybe even after february, though its the price of btc will determine that

[BitcoinBarrel]

If you're generating coins then mining is profitable. There's always going to be a need for miners as long as cryptocurrencies are around.