Difficulty raise up twice this time !

[Morpheus21]

    this time  difficulty raise up twice    why??

[coins101]

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?

[joele]

   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

[gamer4156]

Litecoin.

[gamefixer]

Litecoin.

Yeah, me too.

[stacksmasher]

Litecoin.

Yeah, me too.

Good luck trying to get cards.

[gamefixer]

Litecoin.

Yeah, me too.

Good luck trying to get cards.

Already at 4mgh's.... I'm good for now.

[jones31]

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.

[Palmdetroit]

Litecoin.

Yeah, me too.

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.

[BurtW]

  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:

Code:

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.

[BurtW]

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...

[Damnsammit]

  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:

Code:

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!

[Damnsammit]

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.

[BurtW]

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.

[Damnsammit]

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. 

[DrG]

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)

[jones31]

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?

[Damnsammit]

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

[jones31]

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.

[BurtW]

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