The difficulty HAS BEEN REDUCED!!!!

[TKeenan]

Holy shit - I didn't think we'd see that, the difficulty has been REDUCED!!!  Mining fun is returning!

[luffy]

not much of a difference!

[OverHash]

Holy shit - I didn't think we'd see that, the difficulty has been REDUCED!!!  Mining fun is returning!

Hasn't changed just yet? Even so it won't be that much of a change we wouldn't think.

[ChuckBuck]

Not by much.  From Bitcoinwisdom:

Bitcoin Difficulty:   40,300,030,328
Estimated Next Difficulty:   40,010,998,361 (-0.72%)
Adjust time:   After 3 Blocks, About 29.5 minutes
Hashrate(?):   292,484,067 GH/s
Block Generation Time(?):   
1 block: 9.8 minutes
3 blocks: 29.5 minutes
6 blocks: 59.0 minutes

   

Basically nil difference, you'll just get the same rewards this difficulty as the last.  Hooray?

[caga]

Holy shit - I didn't think we'd see that, the difficulty has been REDUCED!!!  Mining fun is returning!

Almost no difference like others pointed out.

Might be just a short term reduction in diffculty.

[DarkRavenGamer]

Last time was almost 2 years ago!

http://gyazo.com/d1abd5eed1dbae6a415ababed070b63b

[Polivka GmbH]

Hooray?

Hooray.

[alani123]

It might be a tiny reduction, but I think that the start of a new era is now becoming more obvius. We kept seing mining becoming more centralised, mining at home kept becoming harder while the difficulty was constanly rising and the price was around 350. I believe that this reduction was caused by home miner being pulled off the wall because of not being profitable anymore.

[caga]

It might be a tiny reduction, but I think that the start of a new era is now becoming more obvius. We kept seing mining becoming more centralised, mining at home kept becoming harder while the difficulty was constanly rising and the price was around 350. I believe that this reduction was caused by home miner being pulled off the wall because of not being profitable anymore.

This is probably the only reason, and a rise in price, might cause a lot of those miners to reduce.
Mining is least profitable in these days.

[TKeenan]

Basically nil difference, you'll just get the same rewards this difficulty as the last.  Hooray?

-.7 % is awesome compared to +10% we've been seeing almost every week for months.  I am happy to make as much as last two weeks - especially if that goes on forever.  I am just glad the biweekly reduction of my system has been avoided this cycle!  Fucking Hooray!!!

[guitarplinker]

Wow, that's awesome! This must be the first time in years the difficulty has gone done. 

[DevilCrypto]

Woohoooo a reduction!

[bitcool]

It might be a tiny reduction, but I think that the start of a new era is now becoming more obvius. We kept seing mining becoming more centralised, mining at home kept becoming harder while the difficulty was constanly rising and the price was around 350. I believe that this reduction was caused by home miner being pulled off the wall because of not being profitable anymore.

I doubt it, for the most of the world, the weather is getting colder, pulling the plug on a free space heater doesn't seem to be a wise decision.

[numismatist]

Not by much.  From Bitcoinwisdom:

Bitcoin Difficulty:   40,300,030,328
Estimated Next Difficulty:   40,010,998,361 (-0.72%)

More like moving sideways, maintaining this level. But you allready know that big farms are reducing hashrate before each next step.
Maybe this time they have just overdone that. Watch next days to see networks real peak capacity.

No, we are not past "Peak Hashrate"

[Snipe85]

Miners seem to be unhappy with the price of bitcoin these days.

[davejh]

It might be a tiny reduction, but I think that the start of a new era is now becoming more obvius. We kept seing mining becoming more centralised, mining at home kept becoming harder while the difficulty was constanly rising and the price was around 350. I believe that this reduction was caused by home miner being pulled off the wall because of not being profitable anymore.

It's possible that there was a genuine reduction in capacity, but with this small a difficulty change it's also pretty likely that it's just a result of statistical variances and we have no real way of knowing whether the network is expanding or contracting. In a network where there's no actual change in capacity, variances of +/-5% are pretty likely: http://hashingit.com/analysis/28-reach-for-the-ear-defenders

[alani123]

It might be a tiny reduction, but I think that the start of a new era is now becoming more obvius. We kept seing mining becoming more centralised, mining at home kept becoming harder while the difficulty was constanly rising and the price was around 350. I believe that this reduction was caused by home miner being pulled off the wall because of not being profitable anymore.

It's possible that there was a genuine reduction in capacity, but with this small a difficulty change it's also pretty likely that it's just a result of statistical variances and we have no real way of knowing whether the network is expanding or contracting. In a network where there's no actual change in capacity, variances of +/-5% are pretty likely: http://hashingit.com/analysis/28-reach-for-the-ear-defenders

Indeed it is, but mining used to be an arms race. The total network hashrate was constantly increasing for more than a year until this point.

[CCW]

It might be a tiny reduction, but I think that the start of a new era is now becoming more obvius. We kept seing mining becoming more centralised, mining at home kept becoming harder while the difficulty was constanly rising and the price was around 350. I believe that this reduction was caused by home miner being pulled off the wall because of not being profitable anymore.

It's possible that there was a genuine reduction in capacity, but with this small a difficulty change it's also pretty likely that it's just a result of statistical variances and we have no real way of knowing whether the network is expanding or contracting. In a network where there's no actual change in capacity, variances of +/-5% are pretty likely: http://hashingit.com/analysis/28-reach-for-the-ear-defenders

Indeed it is, but mining used to be an arms race. The total network hashrate was constantly increasing for more than a year until this point.

I think it will go back around christmas time. then most of us forget that it decreased. its not much compare to the increasing within the last two months

[RD965]

It might be a tiny reduction, but I think that the start of a new era is now becoming more obvius. We kept seing mining becoming more centralised, mining at home kept becoming harder while the difficulty was constanly rising and the price was around 350. I believe that this reduction was caused by home miner being pulled off the wall because of not being profitable anymore.

It's possible that there was a genuine reduction in capacity, but with this small a difficulty change it's also pretty likely that it's just a result of statistical variances and we have no real way of knowing whether the network is expanding or contracting. In a network where there's no actual change in capacity, variances of +/-5% are pretty likely: http://hashingit.com/analysis/28-reach-for-the-ear-defenders

Indeed it is, but mining used to be an arms race. The total network hashrate was constantly increasing for more than a year until this point.

I think it will go back around christmas time. then most of us forget that it decreased. its not much compare to the increasing within the last two months

Its already christmas time! lets see, even for LTC the diff has gone down, always good news 

[TracerX]

Basically nil difference, you'll just get the same rewards this difficulty as the last.  Hooray?

-.7 % is awesome compared to +10% we've been seeing almost every week for months.  I am happy to make as much as last two weeks - especially if that goes on forever.  I am just glad the biweekly reduction of my system has been avoided this cycle!  Fucking Hooray!!!

This.

It just bought me an additional two weeks that I didn't initially calculate in my maths.  I recognize that it's not likely permanent, but I appreciate the slight respite either way.