Bitcoin Forum
December 13, 2024, 12:05:23 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: New difficulty: 1250758, 7.8% increase Will this make the value of BTC increase?  (Read 1368 times)
celcoid (OP)
Member
**
Offline Offline

Activity: 280
Merit: 10


View Profile
January 08, 2012, 10:27:13 PM
 #1

Will the New difficulty: 1250758, 7.8% increase the value of BTC or make it decrease?
SaintFlow
Sr. Member
****
Offline Offline

Activity: 476
Merit: 250


The first is by definition not flawed.


View Profile
January 08, 2012, 10:30:13 PM
 #2

Only if the additinal 7.8 percent of mining powers does not plan on selling on exchange.

don't let me make you question your assumptions
notme
Legendary
*
Offline Offline

Activity: 1904
Merit: 1002


View Profile
January 08, 2012, 10:31:01 PM
 #3

Will the New difficulty: 1250758, 7.8% increase the value of BTC or make it decrease?
No

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
rjk
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


1ngldh


View Profile
January 08, 2012, 10:31:45 PM
 #4

Will the New difficulty: 1250758, 7.8% increase the value of BTC or make it decrease?
The difficulty follows the market price, for the most part, not the other way around.

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
westkybitcoins
Legendary
*
Offline Offline

Activity: 980
Merit: 1004

Firstbits: Compromised. Thanks, Android!


View Profile
January 08, 2012, 10:44:47 PM
 #5

Will the New difficulty: 1250758, 7.8% increase the value of BTC or make it decrease?
The difficulty follows the market price, for the most part, not the other way around.

This. Price is a function of supply (which has a constant rate of influx) and demand. Difficulty doesn't factor into that.

If anything, it's been the price increases that have incentivized more miners to join the game.

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
...
In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
...
ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
...
...
The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
rjk
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


1ngldh


View Profile
January 08, 2012, 10:46:18 PM
 #6

If anything, it's been the price increases that have incentivized more miners to join the game.

This is correct; even the pool operators have noticed an increase in old accounts becoming active once again.

Mining Rig Extraordinaire - the Trenton BPX6806 18-slot PCIe backplane [PICS] Dead project is dead, all hail the coming of the mighty ASIC!
gnar1ta$
Donator
Hero Member
*
Offline Offline

Activity: 798
Merit: 500


View Profile
January 08, 2012, 10:51:40 PM
 #7

Will the New difficulty: 1250758, 7.8% increase the value of BTC or make it decrease?
The difficulty follows the market price, for the most part, not the other way around.

^^ This. http://bitcoinx.com/charts/ Charts here show difficulty follows price, not determines it.

Losing hundreds of Bitcoins with the best scammers in the business - BFL, Avalon, KNC, HashFast.
eleuthria
Legendary
*
Offline Offline

Activity: 1750
Merit: 1007



View Profile
January 09, 2012, 02:45:11 AM
 #8

If anything, it's been the price increases that have incentivized more miners to join the game.

This is correct; even the pool operators have noticed an increase in old accounts becoming active once again.

BTC Guild found quite a large number of accounts that had been inactive for over 2 months suddenly withdraw coins [and in some cases fire back up the miners].  We'll see over the next few weeks if any new blood is joining the ranks of miners, or if it's mostly people who had their cards turned off when it became unprofitable to mine in some areas.

RIP BTC Guild, April 2011 - June 2015
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!