BTC price falls and Difficulty increases

[derekleong75]

It's going to be very hard to keep mining devices online as they won't even be able to pay for themselves in energy costs.
Only the ones who are true to the intangible value of bitcoin will stay the day.

[1715678935]

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[1715678935]

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[PolkRB]

I hope ASIC device makers drop the prices as well.

[JKBtCn]

This is true if the price keeps falling. BTC could very well rebound to well beyond what it's valued today. As China pulls out, the US (and its Wall Street) and a number of other countries take its place (and China is only in movement towards further regulation now). Was it truly a bubble or will optimism prevail. Only time will tell.  

[empoweoqwj]

It's going to be very hard to keep mining devices online as they won't even be able to pay for themselves in energy costs.
Only the ones who are true to the intangible value of bitcoin will stay the day.

Its a very complicated equation. Energy costs, network hash rate, and btc/$ rate.

But sure, if the bitcoin price crashes, all miners are in deep doo-doo until a new equilibrium is reached

[sidehack]

If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

[empoweoqwj]

If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

That's what I meant by a new equilibrium

[DrG]

If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

That's what I meant by a new equilibrium

So we can buy a pizza with 10k BTC again

[empoweoqwj]

If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

That's what I meant by a new equilibrium

So we can buy a pizza with 10k BTC again

lol. Probably 12"

[goggles1200]

Everyone under the sun is liquidating their BFL rigs. I stupidly held onto it a couple days too long and are fighting everyone else to get rid of it only to get some better.

[DrG]

Everyone under the sun is liquidating their BFL rigs. I stupidly held onto it a couple days too long and are fighting everyone else to get rid of it only to get some better.

My catch on fire every couple of days so I leave them next to the fireplace - saves having to chop firewood.

[empoweoqwj]

Everyone under the sun is liquidating their BFL rigs. I stupidly held onto it a couple days too long and are fighting everyone else to get rid of it only to get some better.

Do they sell liquidisers that big?

[Anddos]

It's going to be very hard to keep mining devices online as they won't even be able to pay for themselves in energy costs.
Only the ones who are true to the intangible value of bitcoin will stay the day.

You only just realised this?

[xstr8guy]

We're many months away from worrying about energy costs being too high to make ASIC mining unprofitable as long BTC prices don't fall below the pre-bubble price.

[empoweoqwj]

We're many months away from worrying about energy costs being too high to make ASIC mining unprofitable as long BTC prices don't fall below the pre-bubble price.

I keep saying that but everyone waffles on about their killer advantage being "free electricity" compared with bigger miners. Not sure many people can add up, let alone multiply.

[bitterdog]

Some of these devices being made/planned you wont even need to worry about, because the average household electrical system will not be able to handle the power required without having to replace the whole house do to electrical fire.

[empoweoqwj]

Some of these devices being made/planned you wont even need to worry about, because the average household electrical system will not be able to handle the power required without having to replace the whole house do to electrical fire.

True. Hopefully there won't be too many "basement miners" blowing up their parents electrical systems 

[jermwerty]

If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

False.

Just look at deepbit.  Only getwork, no stratum.  They were  3-4TH max back in the day, and 1.2TH now.  Pretty much a dead pool but people are still on there with GPUs I guess mining at a loss???  I don't think we will see any negative sustained growth for quite a while, if ever.

[empoweoqwj]

If the price crashes too far, everyone will turn off their stuff and the diff will go way down for the few of us still mining out of principle. That might actually be nice, if only briefly.

False.

Just look at deepbit.  Only getwork, no stratum.  They were  3-4TH max back in the day, and 1.2TH now.  Pretty much a dead pool but people are still on there with GPUs I guess mining at a loss???  I don't think we will see any negative sustained growth for quite a while, if ever.

Like people say, if you get "free" electricity i.e. steal it from your parents or boss, you can't really mine at a loss, not until your graphics card blows up anyway, and then you do just stop. I don't think many people mine out of principle, just some are still getting "something for nothing"

[DrG]

Well technically is the card is depreciating faster than the earnings the net would be negative.  Of course with Litecoin blowing up all the cards went into hyperinflation.

[PolkRB]

If price was not an issue, what's the fastest card to mine LTC?

Is this card good or there are better?
http://www.amazon.com/dp/B00G2OTRMA/ref=wl_it_dp_o_pC_S_ttl?_encoding=UTF8&colid=W3H8C9N0K4LP&coliid=I3NZZFXMZN2O2K