Morpheus21 (OP)
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December 11, 2013, 09:45:43 AM |
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this time difficulty raise up twice why??
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coins101
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Activity: 1456
Merit: 1000
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December 11, 2013, 10:25:42 AM |
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Its become big business and its moving to the cloud in data centres with machines.
The next few iteration will likely impact on the essence of the p2p system as put forward in the Satoshi paper.
Concentrating processing power in the hands of a few causes systemic risks. What if the small guys switch off their miners because they aren't making any money, and then the bigger operations go out of business because the operating costs don't stack up after a few more rounds of difficulty increases?
I'm not qualified to second guess what is going and what might happen, but after trying to cost the purchase of a KnC Neptune and workout the ROI, it looks to me like this is what is happening to the p2p nature of the system.
Anyone more qualified to give a view?
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joele
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December 11, 2013, 11:05:19 AM |
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this time difficulty raise up twice why?? Because more miners added to the overall hashing power, around +29%. Current Bitcoin Difficulty: 908,350,862 ; Next(estimate) 1,009,821,879 (+11%) in 9 Days 21 hours ; Source: http://BTC.re
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gamer4156
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December 11, 2013, 03:03:38 PM |
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Litecoin.
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stacksmasher
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December 11, 2013, 03:58:11 PM |
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Good luck trying to get cards.
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gamefixer
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December 11, 2013, 04:57:06 PM |
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Good luck trying to get cards. Already at 4mgh's.... I'm good for now.
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jones31
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Activity: 28
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December 11, 2013, 06:05:25 PM |
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Its become big business and its moving to the cloud in data centres with machines.
The next few iteration will likely impact on the essence of the p2p system as put forward in the Satoshi paper.
Concentrating processing power in the hands of a few causes systemic risks. What if the small guys switch off their miners because they aren't making any money, and then the bigger operations go out of business because the operating costs don't stack up after a few more rounds of difficulty increases?
I'm not qualified to second guess what is going and what might happen, but after trying to cost the purchase of a KnC Neptune and workout the ROI, it looks to me like this is what is happening to the p2p nature of the system.
Anyone more qualified to give a view?
If the cost of mining go below the reward people who can't afford will drop out and difficulty will go down , allowing some to continue mining. It's the same in LTC. If every people in the world would start mining LTC, do you think you could cover the electricity cost? NO.
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Palmdetroit
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Activity: 910
Merit: 1000
PHS 50% PoS - Stop mining start minting
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December 11, 2013, 06:11:48 PM |
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Good luck trying to get cards. Already at 4mgh's.... I'm good for now. yup just pick up some cheap PoS coins for the coming scrypt ASIC bloodbath , more fun to mine 10 mins every 5-10 days on a cheap laptop, less heat.
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BurtW
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All paid signature campaigns should be banned.
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December 11, 2013, 06:18:50 PM |
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this time difficulty raise up twice why?? Not sure what you mean by "twice". It went up 28.41% which is pretty much in line with recent adjustments: Date Difficulty Change Hash Rate Dec 10 2013 908,350,862 28.41% 6,502,229 GH/s 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 Sep 14 2013 112,628,549 29.56% 806,227 GH/s Sep 04 2013 86,933,018 32.22% 622,291 GH/s Aug 24 2013 65,750,060 29.40% 470,657 GH/s Aug 13 2013 50,810,339 35.88% 363,715 GH/s If anything only going up 16.07% last time is the anomoly. BTW the estimate I trust shows: Estimated Next Difficulty: 1,158,010,331 (+27.48%) But it is really too early to tell.
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Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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BurtW
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All paid signature campaigns should be banned.
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December 11, 2013, 06:22:07 PM |
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I remember the "good old days" when everyone was freaking out because the difficulty went over one million. It looks like we are about to go over one billion! Glad I am not mining anymore...
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Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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Damnsammit
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December 11, 2013, 06:22:39 PM |
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this time difficulty raise up twice why?? Not sure what you mean by "twice". It went up 28.41% which is pretty much in line with recent adjustments: Date Difficulty Change Hash Rate Dec 10 2013 908,350,862 28.41% 6,502,229 GH/s 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 Sep 14 2013 112,628,549 29.56% 806,227 GH/s Sep 04 2013 86,933,018 32.22% 622,291 GH/s Aug 24 2013 65,750,060 29.40% 470,657 GH/s Aug 13 2013 50,810,339 35.88% 363,715 GH/s If anything only going up 16.07% last time is the anomoly. BTW the estimate I trust shows: Estimated Next Difficulty: 1,158,010,331 (+27.48%) But it is really too early to tell. Anything under 30% is good for me because I use a 30-40% estimate when calculating my difficulty jumps in relation to ROI. Now I just need to get this damn Cube in the mail so i can start hashing before the next jump!
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Damnsammit
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December 11, 2013, 06:27:17 PM |
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yup just pick up some cheap PoS coins for the coming scrypt ASIC bloodbath , more fun to mine 10 mins every 5-10 days on a cheap laptop, less heat.
Yeah I just really don't see that happening anytime soon.
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BurtW
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All paid signature campaigns should be banned.
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December 11, 2013, 06:29:48 PM |
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yup just pick up some cheap PoS coins for the coming scrypt ASIC bloodbath , more fun to mine 10 mins every 5-10 days on a cheap laptop, less heat.
Yeah I just really don't see that happening anytime soon. Which shitcoin is someone going to invest all the time and big money into creating an ASIC for? FPGA maybe as some sort of hobby project, ASIC no way - there is no way to justify the investment.
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Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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Damnsammit
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December 11, 2013, 06:36:31 PM |
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yup just pick up some cheap PoS coins for the coming scrypt ASIC bloodbath , more fun to mine 10 mins every 5-10 days on a cheap laptop, less heat.
Yeah I just really don't see that happening anytime soon. Which shitcoin is someone going to invest all the time and big money into creating an ASIC for? FPGA maybe as some sort of hobby project, ASIC no way - there is no way to justify the investment. No way on the FPGA either. People have tried and their results were less than desirable to say the least. I believe someone created an FPGA that hashed at about 80kh/s... but hey it was energy efficient! ASIC development would just be too expensive to make it worthwhile, IMO. People think because Litecoin is above $30 that people will start design ASIC's for Scrypt, but I don't think they realize how different SHA256 and Scrypt are... I know I sure as hell don't know anything about ASIC design but have heard others say that it would be much, much more difficult/costly to develop an ASIC for Scrypt.
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DrG
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December 12, 2013, 06:34:37 AM |
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yup just pick up some cheap PoS coins for the coming scrypt ASIC bloodbath , more fun to mine 10 mins every 5-10 days on a cheap laptop, less heat.
Yeah I just really don't see that happening anytime soon. Which shitcoin is someone going to invest all the time and big money into creating an ASIC for? FPGA maybe as some sort of hobby project, ASIC no way - there is no way to justify the investment. No way on the FPGA either. People have tried and their results were less than desirable to say the least. I believe someone created an FPGA that hashed at about 80kh/s... but hey it was energy efficient! ASIC development would just be too expensive to make it worthwhile, IMO. People think because Litecoin is above $30 that people will start design ASIC's for Scrypt, but I don't think they realize how different SHA256 and Scrypt are... I know I sure as hell don't know anything about ASIC design but have heard others say that it would be much, much more difficult/costly to develop an ASIC for Scrypt. I smell more preorder fodder for out favorite ASIC manufacturer BFL (Blind Faith in Logistics)
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jones31
Newbie
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Activity: 28
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December 12, 2013, 03:38:18 PM |
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yup just pick up some cheap PoS coins for the coming scrypt ASIC bloodbath , more fun to mine 10 mins every 5-10 days on a cheap laptop, less heat.
Yeah I just really don't see that happening anytime soon. Which shitcoin is someone going to invest all the time and big money into creating an ASIC for? FPGA maybe as some sort of hobby project, ASIC no way - there is no way to justify the investment. No way on the FPGA either. People have tried and their results were less than desirable to say the least. I believe someone created an FPGA that hashed at about 80kh/s... but hey it was energy efficient! ASIC development would just be too expensive to make it worthwhile, IMO. People think because Litecoin is above $30 that people will start design ASIC's for Scrypt, but I don't think they realize how different SHA256 and Scrypt are... I know I sure as hell don't know anything about ASIC design but have heard others say that it would be much, much more difficult/costly to develop an ASIC for Scrypt. Take a look at how ASICs for SHA256 have evolved , reducing the cost for GH from 100 to almost 4usd. If an ASIC developed right now for LTC mining wouldn't be really profitable , would you say the same for the 2nd and 3rd generation?
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Damnsammit
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December 12, 2013, 03:58:53 PM |
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Take a look at how ASICs for SHA256 have evolved , reducing the cost for GH from 100 to almost 4usd. If an ASIC developed right now for LTC mining wouldn't be really profitable , would you say the same for the 2nd and 3rd generation?
It would be profitable eventually, as long as there are still Scrypt coins around... but the RnD costs will be a very large number that would scare most people away from it. However, I'm sure there is someone with large pockets that is looking into hiring some very smart people with very eloquent titles right now to develop an ASIC for Scrypt. To them, I say good luck... It seems like we are still at least a couple years away from a Scrypt ASIC
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jones31
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December 12, 2013, 04:09:12 PM |
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Take a look at how ASICs for SHA256 have evolved , reducing the cost for GH from 100 to almost 4usd. If an ASIC developed right now for LTC mining wouldn't be really profitable , would you say the same for the 2nd and 3rd generation?
It would be profitable eventually, as long as there are still Scrypt coins around... but the RnD costs will be a very large number that would scare most people away from it. However, I'm sure there is someone with large pockets that is looking into hiring some very smart people with very eloquent titles right now to develop an ASIC for Scrypt. To them, I say good luck... It seems like we are still at least a couple years away from a Scrypt ASIC While I agree with your most post , there is one little thing...., I would say , 12-18 months till the first scrypt design ASIC at most.
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BurtW
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December 12, 2013, 04:29:48 PM |
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While I agree with your most post , there is one little thing...., I would say , 12-18 2-8 months till the first scrypt design ASIC preorder at most.
FIFY
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Our family was terrorized by Homeland Security. Read all about it here: http://www.jmwagner.com/ and http://www.burtw.com/ Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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