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Author Topic: The next difficulty level will make mining unprofitable.  (Read 7928 times)
hiVe
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May 26, 2011, 09:45:37 PM
 #61

I said its gonna be 100% increase...people doubted me...now you see  Kiss

You absolutely were wrong. The increase was estimated around 72% when you made your 100% prediction and it ended up being closer to 75%. Not 100%.

Sorry, but according to my math 224k -> 434k = about 100% increase [to be precise 94% something something]. Or, are maths in various countries that different?
Now, who's estimate was closer -.-
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shivansps
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May 26, 2011, 09:47:27 PM
 #62

I was wondering, what could happen if when there are 50 blocks remaining for the next dificulty rise the 70% of the bitcoin network stops mining?

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May 26, 2011, 09:48:27 PM
 #63

I was wondering, what could happen if when there are 50 blocks remaining for the next dificulty rise the 70% of the bitcoin network stops mining?

The last 50 blocks take about 4 times as long on average.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

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May 26, 2011, 09:56:18 PM
 #64

I said its gonna be 100% increase...people doubted me...now you see  Kiss

You absolutely were wrong. The increase was estimated around 72% when you made your 100% prediction and it ended up being closer to 75%. Not 100%.

Sorry, but according to my math 224k -> 434k = about 100% increase [to be precise 94% something something]. Or, are maths in various countries that different?
Now, who's estimate was closer -.-

The previous difficulty was not 224k. It was 244139. That is a 78% increase.

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May 26, 2011, 10:27:31 PM
 #65

I said its gonna be 100% increase...people doubted me...now you see  Kiss

You absolutely were wrong. The increase was estimated around 72% when you made your 100% prediction and it ended up being closer to 75%. Not 100%.

Sorry, but according to my math 224k -> 434k = about 100% increase [to be precise 94% something something]. Or, are maths in various countries that different?
Now, who's estimate was closer -.-

The previous difficulty was not 224k. It was 244139. That is a 78% increase.

Yes, and no doubt due to the latency between ordering hardware (when mining appeared more profitable) and getting it online.  Judging by the prices at the usual places I would have to say that such expansion is likely coming to an end for now (maybe another week or two of latency some orders, but I suspect new hardware purchases are dropping dramatically for now).  So, hopefully the next difficulty increases will be relatively moderate and maybe even some retrenchment in a few weeks.  Depends in part on the price of the BTC.  If I were AMD, I would be buying coins to push the price and excite orders and them when they are ready, dump them leaving many stuck with too much hardware, wait for the correction and a new product release and repeat. 

A far as AMD, you have been warned!

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May 26, 2011, 10:34:52 PM
 #66

I said its gonna be 100% increase...people doubted me...now you see  Kiss

You absolutely were wrong. The increase was estimated around 72% when you made your 100% prediction and it ended up being closer to 75%. Not 100%.

Sorry, but according to my math 224k -> 434k = about 100% increase [to be precise 94% something something]. Or, are maths in various countries that different?
Now, who's estimate was closer -.-

The previous difficulty was not 224k. It was 244139. That is a 78% increase.

<snip> totally offtopic
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May 26, 2011, 11:05:58 PM
 #67

Great points up until you apparently took a hit of the crack pipe prior to that last paragraph.  Even the kids who popularized the whole "ATI has no drivers!" nonsense have stopped trolling with that by now.

Admittedly, there was a time when ATI was shipping poor drivers but, it's ancient history by now and they certainly never released anything quite as outright dangerous as the 196.75 house fire update.

Furthermore, ATI cards have only been overpriced in recent years due to a complete lack of competitive product from Nvidia. That's supply and demand, not ATI's fault.

ATI is STILL shipping poor drivers, if you're doing anything with OpenGL. Now GPGPU stuff like mining is great.

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Veldy
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May 26, 2011, 11:20:17 PM
 #68

Great points up until you apparently took a hit of the crack pipe prior to that last paragraph.  Even the kids who popularized the whole "ATI has no drivers!" nonsense have stopped trolling with that by now.

Admittedly, there was a time when ATI was shipping poor drivers but, it's ancient history by now and they certainly never released anything quite as outright dangerous as the 196.75 house fire update.

Furthermore, ATI cards have only been overpriced in recent years due to a complete lack of competitive product from Nvidia. That's supply and demand, not ATI's fault.

ATI is STILL shipping poor drivers, if you're doing anything with OpenGL. Now GPGPU stuff like mining is great.

As I have indicated, since my purchase of the 6970 for gaming and mining, it will lock up 100% of the time if you try to run a video of any kind while mining.  This if true with stock settings and 70 degrees C.  Latest drivers give me enough time to kill a browser if I navigate to a page that starts ui play a video ... probably because I am pushing the card a little harder now giving me done time while the video tries to initialize.  I understand they used to have the same issue with the 58xx and 5970 when they first came out.

No such problems with NVidia ever under any circumstances even with the latest hardware.  Games often have trouble themselves, but that is rarely a driver problem (manufacturers often make tweeks for some games or bugs found from games and also create profiles to help use the card the best for the game).  I have been using gaming cards since before the first TNT cards and used the extra 3Dfx cards and have never seen lockups so predictably and easily as the drivers for the 6970 allow when mining, at least since windows 2000 was released.

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