Feb 2013 1 GH/s = Feb 2014 1 TH/s!

[o999]

I just noticed...
Feb 28 2014 difficulty = 3,815,723,799
on Feb 28 2013 difficulty = 3,651,012

That's a 1,000+ times increase, so a 1 TH/s miner today is only mining as many bitcoins as a 1GH/s miner 12 months ago.

Over the same period the bitcoin price has only increased about 20 fold (~$30 to $600).

Let's hope this rate of increase doesn't hold up for all of 2014, or in 2015 we'll be looking at ~0.004 BTC/month from a 1 TH/s miner!

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[Meuh6879]

and what the problem ?
miner is just to flow the transactions ... not to win BTC.

[hammurabi]

I just noticed...
Feb 28 2014 difficulty = 3,815,723,799
on Feb 28 2013 difficulty = 3,651,012

That's a 1,000+ times increase, so a 1 TH/s miner today is only mining as many bitcoins as a 1GH/s miner 12 months ago.

Over the same period the bitcoin price has only increased about 20 fold (~$30 to $600).

Let's hope this rate of increase doesn't hold up for all of 2014, or in 2015 we'll be looking at ~0.004 BTC/month from a 1 TH/s miner!

Ever wondered where do stars come from?!
Like our Sun? Alpha Centauri and billion of others?

All were planets like Earth with oceans, rivers, blue skies... until bitcoin showed up and turned every their atom into a hot burning mining rig!
Some of these celestial bodies were very successful and developed massive Block Eruptors which collapsed into their blockchain creating massive black holes in the process.

So, I don't think it will stop any time soon!

[LiteCoinGuy]

I just noticed...
Feb 28 2014 difficulty = 3,815,723,799
on Feb 28 2013 difficulty = 3,651,012

That's a 1,000+ times increase, so a 1 TH/s miner today is only mining as many bitcoins as a 1GH/s miner 12 months ago.

Over the same period the bitcoin price has only increased about 20 fold (~$30 to $600).

Let's hope this rate of increase doesn't hold up for all of 2014, or in 2015 we'll be looking at ~0.004 BTC/month from a 1 TH/s miner!

in one year we will have "only" 12000 USD 

[vnvizow]

Someone needs to invent a time machine so we can take current technology back to when bitcoin started and we'll all be rich, as well as warn people of MTgox 

[SomeoneInNeed]

Soon there will be mining corporations which will have massive hashing power. Because most of us wouldn't be able to afford the miners.

[cloverme]

Soon there will be mining corporations which will have massive hashing power. Because most of us wouldn't be able to afford the miners.

That's pretty much already happened, check out this article: http://www.datacenterknowledge.com/archives/2014/01/21/bitcoin-infrastructure-mining-data-center/

[S4VV4S]

Soon there will be mining corporations which will have massive hashing power. Because most of us wouldn't be able to afford the miners.

That's pretty much already happened, check out this article: http://www.datacenterknowledge.com/archives/2014/01/21/bitcoin-infrastructure-mining-data-center/

+1

Several governments are already in to this

You know what they say,
If you can't beat them....

[user311]

Quite ridiculous if you ask me. Articles like these only reflect the greediness of mankind. All that wasted material being used to calculate meaningless equations for some number to show up on your computer for something that just so happens to be of value now. Too bad ripple (XPR) is centralized.. They had a good idea to include BOINC with their projects to help people. To imagine this person would have dedicated his money and creativity towards the health sector.