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Yuhfhrh
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October 28, 2012, 07:46:47 AM |
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I am so bored. There is almost no activity on any of the exchanges lol
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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keewee
Legendary
 Offline
Activity: 1025
Merit: 1000
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October 28, 2012, 08:06:58 AM |
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I am so bored. There is almost no activity on any of the exchanges lol
It's strangely quiet, I don't think I've ever seen Bitcoin Monitor so empty of red dots. Calm before the storm? |
1keewee2vRp63UWvPBynT55ZYw6SUCKDB
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Yuhfhrh
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October 28, 2012, 08:10:03 AM |
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I am so bored. There is almost no activity on any of the exchanges lol
It's strangely quiet, I don't think I've ever seen Bitcoin Monitor so empty of red dots. Calm before the storm? I agree, it has been many months since its been this quiet. Kind of peaceful actually. I can take a breath. Some kind of bitcoin harmony lol  |
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Mushoz
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October 28, 2012, 11:31:43 AM |
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I am so bored. There is almost no activity on any of the exchanges lol
It's strangely quiet, I don't think I've ever seen Bitcoin Monitor so empty of red dots. Calm before the storm? I think it's because the price wants to go down, because we seem to have entered a downtrend, but that bidwall is keeping is above $10. For now at least. I think it's just going to take some time to consolidate before we head lower. |
www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
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Sitarow
Legendary
Offline
Activity: 1792
Merit: 1047
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October 28, 2012, 03:05:53 PM |
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jasinlee
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October 28, 2012, 04:15:21 PM |
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 That spike either is a whole new mining operation coming online or a couple ASICs being used, either way someones going to have a bunch of btc to dump or hopefully horde. |
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robocoin
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October 28, 2012, 04:30:55 PM |
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That spike either is a whole new mining operation coming online or a couple ASICs being used, either way someones going to have a bunch of btc to dump or hopefully horde. The last weeks showed us clearly that the mining difficulty is not bound to the market price. And if someone has "so much hash power" it does not mean he gets 'so much more' BTC it usually means everybody gets less BTC. And this is not even a spike, maybe just another botnet-operator who found out about btc mining. |
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jasinlee
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October 28, 2012, 04:33:03 PM |
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That spike either is a whole new mining operation coming online or a couple ASICs being used, either way someones going to have a bunch of btc to dump or hopefully horde. The last weeks showed us clearly that the mining difficulty is not bound to the market price. And if someone has "so much hash power" it does not mean he gets 'so much more' BTC it usually means everybody gets less BTC. And this is not even a spike, maybe just another botnet-operator who found out about btc mining. Thats what I am hoping. |
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hazek
Legendary
Offline
Activity: 1078
Merit: 1002
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October 28, 2012, 04:38:19 PM |
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That spike either is a whole new mining operation coming online or a couple ASICs being used, either way someones going to have a bunch of btc to dump or hopefully horde.
The last weeks showed us clearly that the mining difficulty is not bound to the market price. And if someone has "so much hash power" it does not mean he gets 'so much more' BTC it usually means everybody gets less BTC. And this is not even a spike, maybe just another botnet-operator who found out about btc mining. Actually they do get more in the sense that they get more then Bitcoin is designed to give out on avarage in the same period of time. So while yes, suddenly someone with a lot of hashing power couldn't get any more bitcoins that are meant to be released by the algorithm they would however get more bitcoins than what the rest of the networks previously got in the same period of time before the difficulty readjusts. But after that happens, then you'd be right again. |
My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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robocoin
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October 28, 2012, 04:48:30 PM |
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That spike either is a whole new mining operation coming online or a couple ASICs being used, either way someones going to have a bunch of btc to dump or hopefully horde.
The last weeks showed us clearly that the mining difficulty is not bound to the market price. And if someone has "so much hash power" it does not mean he gets 'so much more' BTC it usually means everybody gets less BTC. And this is not even a spike, maybe just another botnet-operator who found out about btc mining. Actually they do get more in the sense that they get more then Bitcoin is designed to give out on avarage in the same period of time. So while yes, suddenly someone with a lot of hashing power couldn't get any more bitcoins that are meant to be released by the algorithm they would however get more bitcoins than what the rest of the networks previously got in the same period of time before the difficulty readjusts. But after that happens, then you'd be right again. True. But 1016 * 50BTC / x / 2 = should not be enough for a single entity to have a great effect on MtGox prices. (Target * block reward / (x<51%) / 2 weeks ) |
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hazek
Legendary
Offline
Activity: 1078
Merit: 1002
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October 28, 2012, 05:24:56 PM |
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That spike either is a whole new mining operation coming online or a couple ASICs being used, either way someones going to have a bunch of btc to dump or hopefully horde.
The last weeks showed us clearly that the mining difficulty is not bound to the market price. And if someone has "so much hash power" it does not mean he gets 'so much more' BTC it usually means everybody gets less BTC. And this is not even a spike, maybe just another botnet-operator who found out about btc mining. Actually they do get more in the sense that they get more then Bitcoin is designed to give out on avarage in the same period of time. So while yes, suddenly someone with a lot of hashing power couldn't get any more bitcoins that are meant to be released by the algorithm they would however get more bitcoins than what the rest of the networks previously got in the same period of time before the difficulty readjusts. But after that happens, then you'd be right again. True. But 1016 * 50BTC / x / 2 = should not be enough for a single entity to have a great effect on MtGox prices. (Target * block reward / (x<51%) / 2 weeks ) That is also true. |
My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)
If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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GeoRW
Sr. Member
Offline
Activity: 350
Merit: 257
Trust No One
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October 28, 2012, 05:27:50 PM |
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That spike either is a whole new mining operation coming online or a couple ASICs being used, either way someones going to have a bunch of btc to dump or hopefully horde. The last weeks showed us clearly that the mining difficulty is not bound to the market price. And if someone has "so much hash power" it does not mean he gets 'so much more' BTC it usually means everybody gets less BTC. And this is not even a spike, maybe just another botnet-operator who found out about btc mining. No, it IS bound to the market price. As long as the mining is profitable the difficulty will rise. And current bitcoin price is still VERY profitable for miners. Therefore more hardware is coming online each day. There is no perfect correlation because buying more hardware takes some time and there is risk of prices going down but in general correlation is obvious. |
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fcmatt
Legendary
Offline
Activity: 2072
Merit: 1001
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October 28, 2012, 05:33:25 PM |
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I would guess fpga and final gpus are bringing up diff. Not asics....
Asic boom will not be for two months at least and you will easily notice it.
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myself
Legendary
Offline
Activity: 938
Merit: 1000
chaos is fun...…damental :)
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October 28, 2012, 06:02:44 PM |
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the difficulty spike up if there are allot of lucky blocks in a short amount of time if in one hours there are 7 blocks you get a spike because it look like there is more power in the network you should look at 1 week average
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Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
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steamboat
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October 28, 2012, 06:07:59 PM |
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the difficulty spike up if there are allot of lucky blocks in a short amount of time if in one hours there are 7 blocks you get a spike because it look like there is more power in the network you should look at 1 week average
This is true, though I think it's a combination of luck/new rigs. I've rarely seen 8 blocks/hour in the last few months, and difficulty is set to spike quite a bit so overall power for the period has been consistently up. |
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fcmatt
Legendary
Offline
Activity: 2072
Merit: 1001
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October 28, 2012, 07:51:32 PM |
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the difficulty spike up if there are allot of lucky blocks in a short amount of time if in one hours there are 7 blocks you get a spike because it look like there is more power in the network you should look at 1 week average
I dunno about the rest of you but i look at the red line on the graph and not the others.... |
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keewee
Legendary
Offline
Activity: 1025
Merit: 1000
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October 28, 2012, 08:16:40 PM |
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Looks like Mr. M just kicked this thing into life again
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1keewee2vRp63UWvPBynT55ZYw6SUCKDB
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fcmatt
Legendary
Offline
Activity: 2072
Merit: 1001
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October 28, 2012, 08:19:05 PM |
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Looks like Mr. M just kicked this thing into life again
Cool. I need to sell mined coins again. Fresh cash to buy my buttcoins. |
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lebing
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
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October 28, 2012, 08:48:19 PM |
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Looks like at the very least a near term bull is forming  |
Bro, do you even blockchain?
-E Voorhees
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Kupsi
Legendary
Offline
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
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October 28, 2012, 08:50:45 PM |
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Time to declare single digits history?  |
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