Bitcoin price & difficulty

[theseraphgabriel]

I just have a funny feeling that if bitcoin's price keeps falling and difficultly keeps rising that alot of miners including myself will stop mining and goto alt coins instead. The difficulty did drop recently but the price of Mining vs the cost of electricity to some that don't have it free will cause negative profits. I know I will get some hate posts or just be ignored, but I can just fell it coming. Also think this is caused by alot of businesses mining that have hug amounts of mining power. And no I don't do the solo thing I use p2pool but that's not the point.

[FlyForFun]

I just have a funny feeling that if bitcoin's price keeps falling and difficultly keeps rising that alot of miners including myself will stop mining and goto alt coins instead. The difficulty did drop recently but the price of Mining vs the cost of electricity to some that don't have it free will cause negative profits. I know I will get some hate posts or just be ignored, but I can just fell it coming. Also think this is caused by alot of businesses mining that have hug amounts of mining power. And no I don't do the solo thing I use p2pool but that's not the point.

Thats the reason why home mining is dead. Industrial get cheap electricity rate and they are the only one who will get the highest profit and can stay profits the longest...

[Vod]

I just have a funny feeling that if bitcoin's price keeps falling and difficultly keeps rising that alot of miners including myself will stop mining and goto alt coins instead. The difficulty did drop recently but the price of Mining vs the cost of electricity to some that don't have it free will cause negative profits. I know I will get some hate posts or just be ignored, but I can just fell it coming. Also think this is caused by alot of businesses mining that have hug amounts of mining power. And no I don't do the solo thing I use p2pool but that's not the point.

The same thing is happening to the alt coins my friend.  You're not the first person to come up with the idea to stop mining bitcoin.   

[ikydesu]

I just have a funny feeling that if bitcoin's price keeps falling and difficultly keeps rising that alot of miners including myself will stop mining and goto alt coins instead. The difficulty did drop recently but the price of Mining vs the cost of electricity to some that don't have it free will cause negative profits. I know I will get some hate posts or just be ignored, but I can just fell it coming. Also think this is caused by alot of businesses mining that have hug amounts of mining power. And no I don't do the solo thing I use p2pool but that's not the point.

Yeah i feel it, and alt coin is good choice for your mining problem

[DannyHamilton]

I just have a funny feeling that if bitcoin's price keeps falling and difficultly keeps rising that alot of miners including myself will stop mining and goto alt coins instead. The difficulty did drop recently but the price of Mining vs the cost of electricity to some that don't have it free will cause negative profits. I know I will get some hate posts or just be ignored, but I can just fell it coming. Also think this is caused by alot of businesses mining that have hug amounts of mining power. And no I don't do the solo thing I use p2pool but that's not the point.

Yes.  This is what bitcoin is designed to do.  It is exactly how bitcoin was intended to work:

- snip -
I anticipate there will never be more than 100K nodes, probably less.  It will reach an equilibrium where it's not worth it for more nodes to join in.  The rest will be lightweight clients, which could be millions.

At equilibrium size, many nodes will be server farms with one or two network nodes that feed the rest of the farm over a LAN.

- snip -
If the network becomes very large, like over 100,000 nodes, this is what we'll use to allow common users to do transactions without being full blown nodes.  At that stage, most users should start running client-only software and only the specialist server farms keep running full network nodes, kind of like how the usenet network has consolidated.
- snip -

The current system where every user is a network node is not the intended configuration for large scale.  That would be like every Usenet user runs their own NNTP server.  The design supports letting users just be users.  The more burden it is to run a node, the fewer nodes there will be.  Those few nodes will be big server farms.  The rest will be client nodes that only do transactions and don't generate.
- snip -

[LiteCoinGuy]

I just have a funny feeling that if bitcoin's price keeps falling and difficultly keeps rising that alot of miners including myself will stop mining and goto alt coins instead. The difficulty did drop recently but the price of Mining vs the cost of electricity to some that don't have it free will cause negative profits. I know I will get some hate posts or just be ignored, but I can just fell it coming. Also think this is caused by alot of businesses mining that have hug amounts of mining power. And no I don't do the solo thing I use p2pool but that's not the point.

The same thing is happening to the alt coins my friend.  You're not the first person to come up with the idea to stop mining bitcoin.   

but Gaw-Scam is still a good investment...i think   

[hyphymikey]

As soon as everyone leaves and starts mining alt coins, bitcoin difficulty will go down, and al coins difficulty up.

Thats fine with me, because thats more coins for me while we are in this bear market. When the price rises everyone will jump back on bitcoin though. We will probably have this cycle until miners realize there will be only one or two coins that last.

[jbreher]

I just have a funny feeling that if bitcoin's price keeps falling and difficultly keeps rising that alot of miners including myself will stop mining and goto alt coins instead.

See ya.

When you get frustrated that those thousands of alt-coins you successfully mine end up worth nothing but a wet turd, we'll welcome you back.

[franky1]

this is the poing where peope need to stop hobby mining and spending $1+ a day on electric and $1000+ every 3 months on hardware

and simply buy $363+ worth of bitcoin a month($1 electric x 30 days.. $1000+ / 3 months ($30+ and $333+))

[tins]

As soon as everyone leaves and starts mining alt coins, bitcoin difficulty will go down, and al coins difficulty up.

Thats fine with me, because thats more coins for me while we are in this bear market. When the price rises everyone will jump back on bitcoin though. We will probably have this cycle until miners realize there will be only one or two coins that last.

Any alt that holds its value to BTC will have the same mining/difficulty issues as BTC.
Relatively soon, it will only be industrial level BTC farms doing all the mining. Individuals and families will not be able to shell out the investment necessary to compete.

[Jamacn]

this is the poing where peope need to stop hobby mining and spending $1+ a day on electric and $1000+ every 3 months on hardware

and simply buy $363+ worth of bitcoin a month($1 electric x 30 days.. $1000+ / 3 months ($30+ and $333+))

really so, and the difficulty is realation to price, but little, the price would never fall broken $300 again, i believe.

[bg002h]

I just have a funny feeling that if bitcoin's price keeps falling and difficultly keeps rising that alot of miners including myself will stop mining and goto alt coins instead. The difficulty did drop recently but the price of Mining vs the cost of electricity to some that don't have it free will cause negative profits. I know I will get some hate posts or just be ignored, but I can just fell it coming. Also think this is caused by alot of businesses mining that have hug amounts of mining power. And no I don't do the solo thing I use p2pool but that's not the point.

Yes.  This is what bitcoin is designed to do.  It is exactly how bitcoin was intended to work:

- snip -
I anticipate there will never be more than 100K nodes, probably less.  It will reach an equilibrium where it's not worth it for more nodes to join in.  The rest will be lightweight clients, which could be millions.

At equilibrium size, many nodes will be server farms with one or two network nodes that feed the rest of the farm over a LAN.

- snip -
If the network becomes very large, like over 100,000 nodes, this is what we'll use to allow common users to do transactions without being full blown nodes.  At that stage, most users should start running client-only software and only the specialist server farms keep running full network nodes, kind of like how the usenet network has consolidated.
- snip -

The current system where every user is a network node is not the intended configuration for large scale.  That would be like every Usenet user runs their own NNTP server.  The design supports letting users just be users.  The more burden it is to run a node, the fewer nodes there will be.  Those few nodes will be big server farms.  The rest will be client nodes that only do transactions and don't generate.
- snip -

This is the kind of post that would get tips in the old days. Got @ChangeTip Danny?

[DannyHamilton]

Got @ChangeTip Danny?

No. But thanks for the consideration.

If you are serious about wanting to send a tip, send me a PM, and I'll give you an address you can use.

[Mr. Burns]

our ultimate goal should be to bring the price of bitcoin down to $0.0001.  cause that's all it's really worth.

[ChuckBuck]

To the OP, why do you think the difficulty decreased this period?

Because some farms shut off their miners silly!

We're already at that point were the price drop isn't covering hosting and electrical costs...

[vpasic]

To the OP, why do you think the difficulty decreased this period?

Because some farms shut off their miners silly!

We're already at that point were the price drop isn't covering hosting and electrical costs...

difficulty decreased?
you call -0.73% on 40 billion difficulty decrease???
are you serious???
difficulty stayed the same.
you know why???
not because some farms shut off.
it's because no new hash power is added to network.
why?
because nothing even close worth buying is on market lately.
everyone waiting for next generation miners.

[DannyHamilton]

To the OP, why do you think the difficulty decreased this period?

Because some farms shut off their miners silly!

We're already at that point were the price drop isn't covering hosting and electrical costs...

difficulty decreased?
you call -0.73% on 40 billion difficulty decrease???

0.73% every 2 weeks compounded?

That's 20.82% annualized?

That's worse than my credit card.

Yes, in that case, I'd say that difficulty decreased.

[vpasic]

don't think so.
that kind of hashing power fluctuations are common on daily basis.
you can't even feel it from miners perspective.
 

[throwingbones1]

As soon as everyone leaves and starts mining alt coins, bitcoin difficulty will go down, and al coins difficulty up.

Thats fine with me, because thats more coins for me while we are in this bear market. When the price rises everyone will jump back on bitcoin though. We will probably have this cycle until miners realize there will be only one or two coins that last.

Any alt that holds its value to BTC will have the same mining/difficulty issues as BTC.
Relatively soon, it will only be industrial level BTC farms doing all the mining. Individuals and families will not be able to shell out the investment necessary to compete.

lol, i seem to be the only individual on here who makes as much btc from home as you guys with your "super duper farms".

[tins]

As soon as everyone leaves and starts mining alt coins, bitcoin difficulty will go down, and al coins difficulty up.

Thats fine with me, because thats more coins for me while we are in this bear market. When the price rises everyone will jump back on bitcoin though. We will probably have this cycle until miners realize there will be only one or two coins that last.

Any alt that holds its value to BTC will have the same mining/difficulty issues as BTC.
Relatively soon, it will only be industrial level BTC farms doing all the mining. Individuals and families will not be able to shell out the investment necessary to compete.

lol, i seem to be the only individual on here who makes as much btc from home as you guys with your "super duper farms".

This is the internet...you must bet telling the truth.