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Author Topic: Reduction in Difficulty  (Read 1312 times)
worldinacoin
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October 31, 2011, 03:03:52 AM
 #1

In two blocks time the difficulty will be down quite a bit

Blocks   151198
Difficulty   1468195
Estimated   1204386 in 2 blks

How will it affect the price of the bitcoin?  Also are we able to mine more bitcoins in a shorter time?
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geek-trader
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October 31, 2011, 03:20:56 AM
 #2

In two blocks time the difficulty will be down quite a bit

Blocks   151198
Difficulty   1468195
Estimated   1204386 in 2 blks

How will it affect the price of the bitcoin?  Also are we able to mine more bitcoins in a shorter time?

1. not at all
2. yes

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October 31, 2011, 03:43:07 AM
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Ding!

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
payb.tc
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October 31, 2011, 03:45:02 AM
 #4

1,203,462
Rassah
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October 31, 2011, 04:09:45 AM
 #5

It's profitable to mine again! Hope the price stays above $3.2 though

Eveofwar
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October 31, 2011, 04:12:56 AM
 #6

It's profitable to mine again! Hope the price stays above $3.2 though

For some, it's profitable down to $1...
deepceleron
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October 31, 2011, 04:20:23 AM
 #7

Hey, quit being so lucky, you're going to mess things up!

Last 10    151200-151207    31/10/2011 04:18    2'311'686.28    x1.92
RandyFolds
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October 31, 2011, 04:23:30 AM
 #8

Hey, quit being so lucky, you're going to mess things up!

Last 10    151200-151207    31/10/2011 04:18    2'311'686.28    x1.92


That's not luck, that's people who turned off cause it was unprofitable turning back on because after this drop, they are back in the black.
deepceleron
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October 31, 2011, 05:21:19 AM
 #9

Hey, quit being so lucky, you're going to mess things up!

Last 10    151200-151207    31/10/2011 04:18    2'311'686.28    x1.92


That's not luck, that's people who turned off cause it was unprofitable turning back on because after this drop, they are back in the black.

Uh, Mr Potato Head! 50% More hash power than has ever existed on Bitcoin doesn't magically turn on at once within an hour.
RandyFolds
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October 31, 2011, 05:25:03 AM
 #10

Hey, quit being so lucky, you're going to mess things up!

Last 10    151200-151207    31/10/2011 04:18    2'311'686.28    x1.92


That's not luck, that's people who turned off cause it was unprofitable turning back on because after this drop, they are back in the black.

Uh, Mr Potato Head! 50% More hash power than has ever existed on Bitcoin doesn't magically turn on at once within an hour.

Uh, fella! All sampling inaccuracies aside, do you think those numbers are simple variance and there was no new power added to the network after the difficulty change? That it went from 12% down to 92% up in a couple hours?
Brian DeLoach
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October 31, 2011, 05:29:15 AM
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Uh, fella! All sampling inaccuracies aside, do you think those numbers are simple variance and there was no new power added to the network after the difficulty change? That it went from 12% down to 92% up in a couple hours?

I can't picture hundreds of people waiting at their computers ready to start mining right at difficulty change.
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October 31, 2011, 05:50:35 AM
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Uh, fella! All sampling inaccuracies aside, do you think those numbers are simple variance and there was no new power added to the network after the difficulty change? That it went from 12% down to 92% up in a couple hours?

I can't picture hundreds of people waiting at their computers ready to start mining right at difficulty change.

You've obviously never seen namecoin.
Eveofwar
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October 31, 2011, 06:42:12 AM
 #13

Hey, quit being so lucky, you're going to mess things up!

Last 10    151200-151207    31/10/2011 04:18    2'311'686.28    x1.92


That's not luck, that's people who turned off cause it was unprofitable turning back on because after this drop, they are back in the black.

Uh, Mr Potato Head! 50% More hash power than has ever existed on Bitcoin doesn't magically turn on at once within an hour.

Uh, fella! All sampling inaccuracies aside, do you think those numbers are simple variance and there was no new power added to the network after the difficulty change? That it went from 12% down to 92% up in a couple hours?

It was at 300% right as difficulty change Tongue
CrazyGuy
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October 31, 2011, 06:53:32 AM
 #14

Difficulty has gone down 20% tonight, but trade rate has gone down 25% or more since the last difficulty change. If mining was not profitable for them then, it still shouldn't be.

ASICPuppy.net ASIC Mining Hardware and Accessories - 2Pacs in stock!
phelix
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October 31, 2011, 08:59:35 AM
 #15

 estimates are quite wrong after a difficulty jump/drop. it should be ratger simple to create a better algorithm, though.

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