Difficulty going down

[inca]

it won't happen.

hypoteticaly speaking ... what if it does happen ?

It's just another indication of the bear market, which started at the beginning of 2014 and in all likelihood will go on for another 11-12 months.

Why would the bear market take another year? I don't think any bear market lasted almost 2 full years in bitcoin, why would this one?

So he can buy in lower of course.

[POM]

Is it time to fire up my Jalapeno again guys? 

[raskul]

Is it time to fire up my Jalapeno again guys? 

i've got everything running except my garden blades, for winter.
don't care about difficulty or price, all I want is a warm house, the btc dust is a bonus 

[yayayo]

Difficulty going down means that we're approaching miners' break even point.

It won't be profitable for most miners to generate bitcoin below the current price level. So I think it will support price in the mid- / longterm.

But maybe the price will head lower temporarily due to the winter heating season...

ya.ya.yo!

[FUR11]

This is an interesting, and to a certain extent even scary, thing to happen! This hasn't happened for almost 2 years now. But it is essentially due to the price going down and no next-generation hardware coming online at the moment. The difficulty, like Bitcoin in general, is self-regulating, so there shouldn't be anything too bad coming out of this!

[raskul]

This is an interesting, and to a certain extent even scary, thing to happen! This hasn't happened for almost 2 years now. But it is essentially due to the price going down and no next-generation hardware coming online at the moment. The difficulty, like Bitcoin in general, is self-regulating, so there shouldn't be anything too bad coming out of this!

no it's not the first time in 2 years for difficulty to drop to a minus in the first few days of a new difficulty. it happened in october and i very much doubt that we will see a drop in difficulty this turn. but hey, carry on with your wankfest if that's what thrills you.

[FUR11]

This is an interesting, and to a certain extent even scary, thing to happen! This hasn't happened for almost 2 years now. But it is essentially due to the price going down and no next-generation hardware coming online at the moment. The difficulty, like Bitcoin in general, is self-regulating, so there shouldn't be anything too bad coming out of this!

no it's not the first time in 2 years for difficulty to drop to a minus in the first few days of a new difficulty. it happened in october and i very much doubt that we will see a drop in difficulty this turn. but hey, carry on with your wankfest if that's what thrills you.

I gotta ask... how is this a 'wankfest' But to elaborate: If the projected difficulty goes down after an adjustment, it doesn't mean anything for the actual difficulty that is in place. It's just a projection. So yeah, the difficulty hasn't gone down a single time since at least April 30 2013: https://bitcoinwisdom.com/bitcoin/difficulty (too lazy to find a longer history, but you get the gist, I hope)

[opossum]

This is an interesting, and to a certain extent even scary, thing to happen! This hasn't happened for almost 2 years now. But it is essentially due to the price going down and no next-generation hardware coming online at the moment. The difficulty, like Bitcoin in general, is self-regulating, so there shouldn't be anything too bad coming out of this!

The difficulty actually went down twice in late 2013 (I believe it was around the time the price had crashed).

It would however be the first time it declined in 2014.

I would say a difficulty decline would certainly be good for all the miners, especially the cloud mased miners

[notme]

What it means is that we can finally find our price bottom.  That doesn't happen until difficulty tapers and the inefficient miners are flushed out.

[spazzdla]

it won't happen.

hypoteticaly speaking ... what if it does happen ?

I'll mine more coins and that is about it.

[raskul]

it won't happen.

hypoteticaly speaking ... what if it does happen ?

I'll mine more coins and that is about it.

of course, i could be wrong it could happen.
And... it would be nice to see a few drops in difficulty, because it would mean that all those ponzi 'cloud mining' operations will have to pay more to their victims.
a few serious drops in difficulty and we will soon see which of those are legitimately mining and which are only in it to run with the bulk of profit and disappear into oblivion.

[opossum]

it won't happen.

hypoteticaly speaking ... what if it does happen ?

I'll mine more coins and that is about it.

of course, i could be wrong it could happen.
And... it would be nice to see a few drops in difficulty, because it would mean that all those ponzi 'cloud mining' operations will have to pay more to their victims.
a few serious drops in difficulty and we will soon see which of those are legitimately mining and which are only in it to run with the bulk of profit and disappear into oblivion.

I don't think we will ever see any serious drops in difficulty as there are too many miners who are just barely unprofitable so when the difficulty would drop the owners of such miners would bring them back online.

The only exception to this would be when we get much closer to when the block subsidy halves again

[thezerg]

Are we feeling the pain yet? 


This is what I think; its total speculation.  Miners have been holding a significant portion of their supply hoping for an upwards bounce.  But those coins eventually needed to be sold to make ends meet.  Essentially you can think of it like these miners were leveraged long (borrowing $ from their own bills that must be paid).  As the price slowly dropped, we approached the line where certain miners had to sell to make sure they could keep the electricity on.  This became a cascading effect, driving a rapid price descent.

I'm waiting for the hash rate graph to flinch.  This will indicate that some miners are shutting off units, which will tell me that we are approaching the marginal cost to produce a coin.  Shutting off miners will reduce supply, and likely indicate a bottom since utility (as measured by metrics like transactions to new addresses) is still increasing.

[STT]

it won't happen.

hypoteticaly speaking ... what if it does happen ?

It's just another indication of the bear market, which started at the beginning of 2014 and in all likelihood will go on for another 11-12 months.

Deflation can occur while growth in market takes place which would mean bitcoin is rising in total value.   Price alone doesnt tell us even though personally we might prefer the price to rise so that we naturally can hold and gain.  This doesnt mean that bitcoin overall is not going to do better at a lower price, thats why the free market is superior to anything manipulated, often individual bias is not conclusive to growth.   In the end we all want bitcoin to be stronger and more widely used, if lower price is what is needed then great; mostly the greater worry is that its not going to be used at all

I agree difficulty is unlikely to go down, that was more often with a majority of personal small mining was the case

[Thylacine]

OP's link now shows a small difficulty increase for next adjustment

[raskul]

OP's link now shows a small difficulty increase for next adjustment

i knew that it had to be too good to be true

Not Til Block Halving™

[sgbett]

Spending time to get $0.06 worth of bitcoins on "Win free bitcoins every hour' ?

What could this mean to the credibility of the OP's suggestion that bitcoin is doomed? The OP is still scraping the barrel for the tiniest amount of BTC?

People have posted that they think bitcoin is fail before whilst still buying and holding? Perhaps this time it could be no different?

Could writing what I believe in the form of questions, really hide that fact its just what I think?

Could the OP be suffering from massive brainfarts?

Could I be hungry? Could it be that I might go have a bite to eat? Could eating satisfy hunger?

Could all these interesting facts and more be found in this newsworthy and insightful thread? Could this actually be a total wast of time?

Could the difficulty go down a little bit following an exponential growth curve beyond the likes of what anyone could have considered possible?

Could some people who are no longer earning BTC with legacy hardware turn off their miners, to cut their electricity bills?

What could this all possibly mean, do I have no idea?

[raskul]

worry thee not my friend. i have no idea either 

[im0rtel]

sgbett , where do you see me in this thread sugesting that bitcoin is doomed and what does that have to do with this thread?
your offtopic has no place here . do you like trolling ? go somewere else .

on topic : after 10 days the dificulty has slightly recovered . still watching.

[Nagle]

At 2 days to go, the next difficulty change looks like it's going to be very close to zero.