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Author Topic: A recap of mining profits....  (Read 964 times)
spooderman
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February 21, 2014, 03:04:45 PM
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What used to take me 1 day to mine now takes me four months. That is the difference of one year.

This time next year will it be the same difference? What has the trend been year on year?

Society doesn't scale.
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rmines
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February 21, 2014, 03:07:06 PM
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This has everything to do with difficulty. You can check the current difficulty and estimated diff here: http://bitcoinwisdom.com/bitcoin/difficulty

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February 21, 2014, 03:33:29 PM
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Nice, I obviously knew it was to do with difficulty, never seen it summarized here before though. Very useful page. Mental that less than two year ago that hash rate was about 24gh/s. LOL

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February 21, 2014, 03:42:41 PM
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You're welcome.
Yes difficulty has exploded, especially since the first ASIC's were produced.

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February 24, 2014, 04:33:33 PM
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Difficulty will rise exponentially.

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February 25, 2014, 09:31:07 AM
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Nice, I obviously knew it was to do with difficulty, never seen it summarized here before though. Very useful page. Mental that less than two year ago that hash rate was about 24gh/s. LOL

It was less than 24TH/s.  It jumped between 13-20TH/s for 2 years during the GPU phase.  It has grown about 3 magnitudes (1000x since this time last year).
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February 25, 2014, 01:19:02 PM
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Nice, I obviously knew it was to do with difficulty, never seen it summarized here before though. Very useful page. Mental that less than two year ago that hash rate was about 24gh/s. LOL

It was less than 24TH/s.  It jumped between 13-20TH/s for 2 years during the GPU phase.  It has grown about 3 magnitudes (1000x since this time last year).
July 2010-July 2011 (switch from CPU to GPU mining) difficulty has grown 4 magnitudes (0.0001TH/s - 10TH/s)
http://bitcoin.sipa.be/speed-ever.png
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February 26, 2014, 07:47:12 AM
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Nice, I obviously knew it was to do with difficulty, never seen it summarized here before though. Very useful page. Mental that less than two year ago that hash rate was about 24gh/s. LOL

It was less than 24TH/s.  It jumped between 13-20TH/s for 2 years during the GPU phase.  It has grown about 3 magnitudes (1000x since this time last year).
July 2010-July 2011 (switch from CPU to GPU mining) difficulty has grown 4 magnitudes (0.0001TH/s - 10TH/s)
http://bitcoin.sipa.be/speed-ever.png

He who shall not be named was the one doing all the GPU Mining in 2010 before everybody else and thereby making a pantload of coins.  Haven't seen him on the forums in a while.  GPU mining didn't really exploded until about March and then the price shot up to $32 when it became "popular".
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February 26, 2014, 04:55:19 PM
 #9

What used to take me 1 day to mine now takes me four months. That is the difference of one year.

This time next year will it be the same difference? What has the trend been year on year?

Difficulty is going to continue to rise as more miners mine and more miners replace/add faster equipment. There's talk of it leveling off some day in the future, I think there are too many factors to take into consideration. To keep up, it's simply a matter of adding Gh/s right now with balancing costs.
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