Mining difficulty rate!!

[SgtSpike]

Even then, it still takes some time for difficulty to catch up because of how the difficulty-calculating algorithm works.

Good point.

To show this in effect, notice that we just had a difficulty increase, yet we are still finding blocks faster than 6 per hour. (We are at around 10-11 per hour.)

The difficulty adjusted to the average of the last period, but by the end of the period, we were above the average.

Someone correct me if I am wrong, but I believe the block/hr numbers are based on a 24 or 48 hr period.  So we still have quite a few hours of high block-finding-rates from the previous difficulty included in the latest calculation at bitcoincharts (which is where I am assuming you got the blocks/hr number).

Right now though, it says 8.87 blocks/hr.  I imagine that number will continue to decrease for a bit longer as the older stats are thrown out of the average.

[1714873449]

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[jspielberg]

I have been collecting my own block solving stats and the network since the difficulty retarget has been averaging between 7 and 7.5 Blocks/hour.

[steelhouse]

You can go to the frontpage of blockexplorer and see last 19 blocks took about 2:39.  Thus rate is 7.17 for last 19 blocks. or 3.7 Th/s total network speed.

[sead]

[dramatic classical music]

Difficulty adjusts to 434,877, a 78% increase

[taadaa.wav]

ps. maybe you should just adapt your reality and think like the difficulty and not the dollar rate represents how mutch
     a btc is worth in the near future

[Chucksta]

We must be down to 1 BTC per day per card now, roughly.

[SgtSpike]

We must be down to 1 BTC per day per card now, roughly.

Sounds about right, at least for the higher end cards or well-optimized ones.  Personally, I'm down to about 0.5BTC/card, but I have a 4650 in the mix. 

[jasonk]

4x 5830's and 2x 5850's and only pulling in about 3.7 BTC a day.

[Basiley]

when someone tired of mining and want to cheaply sell some hw to me -PM me

[allinvain]

I got dibs on any 5870s

[xenon481]

when someone tired of mining and want to cheaply sell some hw to me -PM me

I am willing to sell you my (only used for 3 days) 5850 for 23BTC.

[allinvain]

when someone tired of mining and want to cheaply sell some hw to me -PM me

I am willing to sell you my (only used for 3 days) 5850 for 23BTC.

Hmm 201.25. How's maybe $180 ?

[Chucksta]

when someone tired of mining and want to cheaply sell some hw to me -PM me

I am willing to sell you my (only used for 3 days) 5850 for 23BTC.

Hmm 201.25. How's maybe $180 ?

LOL, it would take over 20 days to recoup that, and that's only if there are no difficulty increases in that time and the price stays at $8.

[CalibrataBG]

Some people just can't get it! You keep up building mining rigs and all you'll get is increaced difficulty to a point where you won't even be able to pay your electricity bills.
So keep up building $2000 mining rigs you idiots! Let me see you pay them.
I can see it now ... the second hand GPU market will be flooded with cheap ati cards.

[molecular]

Some people just can't get it! You keep up building mining rigs and all you'll get is increaced difficulty to a point where you won't even be able to pay your electricity bills.
So keep up building $2000 mining rigs you idiots! Let me see you pay them.
I can see it now ... the second hand GPU market will be flooded with cheap ati cards.

yes please, also flood me with your cheap american power, please!

[Chucksta]

Some people just can't get it! You keep up building mining rigs and all you'll get is increaced difficulty to a point where you won't even be able to pay your electricity bills.
So keep up building $2000 mining rigs you idiots! Let me see you pay them.
I can see it now ... the second hand GPU market will be flooded with cheap ati cards.

LOL, yeah...

2 more difficulty increases (1 GPU = $2 per day @ $8 per BTC) like the ones we just witnessed, may result in a good number of people's IQ's recovering thus realising the end is nigh.

[SgtSpike]

Some people just can't get it! You keep up building mining rigs and all you'll get is increaced difficulty to a point where you won't even be able to pay your electricity bills.
So keep up building $2000 mining rigs you idiots! Let me see you pay them.
I can see it now ... the second hand GPU market will be flooded with cheap ati cards.

That might be true, but in the meantime, I'll take my $30/day of freshly minted bitcoins. 

These charts seem to indicate that a lot of people have called it quits though too.  I expect difficulty to be nearly flat this next time around... 10% is my projection.
http://bitcoin.sipa.be/

[Chucksta]

Some people just can't get it! You keep up building mining rigs and all you'll get is increaced difficulty to a point where you won't even be able to pay your electricity bills.
So keep up building $2000 mining rigs you idiots! Let me see you pay them.
I can see it now ... the second hand GPU market will be flooded with cheap ati cards.

That might be true, but in the meantime, I'll take my $30/day of freshly minted bitcoins. 

These charts seem to indicate that a lot of people have called it quits though too.  I expect difficulty to be nearly flat this next time around... 10% is my projection.
http://bitcoin.sipa.be/

Nice income, gratz...

I'll leave out my dark predictions of doom and gloom, and instead bathe in your positive vibes towards the next difficulty setting

[DarkKnightNomeD]

whats the projection for this difficulty raise?

EDIT - Nevermind, i skipped a page on accident