newIndia (OP)
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January 07, 2015, 05:44:30 PM |
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caga
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www.secondstrade.com - 190% return Binary option
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January 07, 2015, 06:07:44 PM |
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Or an indication of an increasing difficulty.
WOuldn't that actually mean the difficulty going down? |
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newIndia (OP)
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January 07, 2015, 06:09:39 PM |
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Or an indication of an increasing difficulty.
WOuldn't that actually mean the difficulty going down? It means that currently the difficulty is low to have 10 minutes gap. Hence the difficulty will jump up soon at the next update. Prediction is around 12% Up. |
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elephantas1
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January 07, 2015, 06:25:25 PM |
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wow 13% increase wont it be absolutely unprofitable to mine btc? im getting a bit worried
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newIndia (OP)
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January 07, 2015, 06:30:34 PM |
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wow 13% increase wont it be absolutely unprofitable to mine btc? im getting a bit worried
No it won't and miners are getting more efficient, it gets close to evening out. Interestingly, the price is going up again. So, efficient mining equipment or cheap Ghash from cloud mining companies can still make profit. |
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elephantas1
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January 07, 2015, 06:43:28 PM |
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wow 13% increase wont it be absolutely unprofitable to mine btc? im getting a bit worried
No it won't and miners are getting more efficient, it gets close to evening out. Interestingly, the price is going up again. So, efficient mining equipment or cheap Ghash from cloud mining companies can still make profit. cheap ghash almost always means ponzi scheme which eventually will fail just saying |
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wadili89
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January 07, 2015, 07:04:14 PM |
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No it won't and miners are getting more efficient, it gets close to evening out.
There is a chance that in the near future it may oscillate before becoming stable. If the price keeps moving a lot then the block time may remain too high or too low. |
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odolvlobo
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January 07, 2015, 07:05:21 PM |
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Or an indication of an increasing difficulty.
WOuldn't that actually mean the difficulty going down? It has nothing to do with changing difficulty. The difficulty changes every 2016 blocks. It probably has little to do with changing hash power since adding blocks at that rate implies a 1700% increase, which is extremely unlikely. It is just luck. Sometimes in takes a hour to add a block and sometimes it takes a few seconds. |
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gadman2
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January 07, 2015, 07:33:56 PM |
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Brb, making thread crying about long confirmation times.
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mlferro
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January 07, 2015, 09:41:04 PM |
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really this is very amazing. Sometimes the luck smiles for us.
Congratulations to all who had the pleasure to enjoy this "luck"
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newIndia (OP)
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January 12, 2015, 05:37:52 PM |
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elephantas1
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January 12, 2015, 05:46:23 PM |
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are you tracking those blocks on purpose or is it just random because you cant find it really often  |
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TimS
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January 12, 2015, 06:08:08 PM |
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https://en.wikipedia.org/wiki/Poisson_distributionOnly the long-term distribution is important (and that's what Difficulty is for), the short term is too random to pay attention to. The probability of 7 or more blocks in 12 minutes (1.2 expected, when difficulty matches actual hashpower; in reality, this expected figure is higher) is about 1 in 4,000. In other words, this happens by random chance more often than once a month (on average), when difficulty is holding steady. Not too surprising.
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ChuckBuck
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January 12, 2015, 06:15:17 PM |
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7 found blocks in 12 minutes...isn't that just called luck?
Not trying to a wise ass, but isn't that normally what occurs if there's blocks found close together. Good pool luck?
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allthingsluxury
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January 12, 2015, 06:17:41 PM |
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Sounds quite lucky. We'll see if this becomes an ongoing trend.
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BCwinning
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January 12, 2015, 06:19:04 PM |
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probably not with the difficult increase just now too
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newIndia (OP)
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January 12, 2015, 06:20:13 PM |
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Sounds quite lucky. We'll see if this becomes an ongoing trend.
Can not become a trend because of difficulty adjustment  |
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allthingsluxury
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January 12, 2015, 06:21:34 PM |
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Sounds quite lucky. We'll see if this becomes an ongoing trend.
Can not become a trend because of difficulty adjustment Agreed. |
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PolarPoint
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January 12, 2015, 06:25:05 PM |
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Mining is like that. Sometimes you have blocks seconds apart and sometimes hours. It evens out over time. If this happens too often, difficulty hikes. I think miners of these 7 blocks are lucky, doesn't happen often.
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newIndia (OP)
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January 12, 2015, 06:27:53 PM |
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Mining is like that. Sometimes you have blocks seconds apart and sometimes hours. It evens out over time. If this happens too often, difficulty hikes. I think miners of these 7 blocks are lucky, doesn't happen often.
After the 7, it happened for these 5 again... |
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slacknation
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January 12, 2015, 07:03:07 PM |
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i can see everyone do respect the hash function alot
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CryptoCurrencyInc.com
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January 14, 2015, 03:44:14 AM |
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Big companies have money and a power plant producing free electricity.
They can afford to mine Bitcoin even if the price of Bitcoin is only $1 per coin.
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odolvlobo
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January 14, 2015, 05:33:08 AM |
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Big companies have money and a power plant producing free electricity.
They can afford to mine Bitcoin even if the price of Bitcoin is only $1 per coin.
Oh? Where does the money to build the plant come from, and where does the energy come from to produce this "free" electricity? |
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Oscilson
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January 14, 2015, 09:50:29 AM |
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Big companies have money and a power plant producing free electricity.
They can afford to mine Bitcoin even if the price of Bitcoin is only $1 per coin.
Oh? Where does the money to build the plant come from, and where does the energy come from to produce this "free" electricity? When the price is $1, the difficulty will be much lower. However, initial investment is required. |
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