Bitcoin difficulty rising/price increase or decrease
How fast does the subreddit think bitcoins difficulty will rise after the introduction of the asic chips? How high do you think it will be? How fast do you think it will rise, like a time frame. and where do you think the difficulty will be at in 6 months? Another question: With the introduction of the asic chips, and the block chain halving/difficulty rise, will there be a rise in bitcoins price? if so, how much and how fast? Along with that, here is another question: If one were to purchase the Terehash supercomputer from butterfly labs, how profitable will it be? I'm assuming the power usage will be at 5000 watts. Does anyone know how fast BFL are shipping out these machines? I know all this is speculation and estimation, but i would love to know what you guys think. thanks in advance!
What death spiral? Bitcoin mining difficulty rises by 9% since halving
After the May 11 halving, some skeptics speculated that miners would capitulate or that the entire process would enter a death spiral. Fast-forward three months and the Bitcoin (BTC) hash rate is at a record high. An all-time high hash rate and a stable Bitcoin mining industry are both positive signs for the medium to […]
Unintended consequence of a hard fork---difficulty oscillations
We are observing the first phase of an unintended side effect of the BCH hard fork. Because bitcoin and BCH use the same proof of work algorithm, miners can jump from one chain to the other, wherever mining is more profitable. Assuming that miners could jump effortlessly and instantly (which is, luckily, not the case just yet), and assuming that all miners always seek maximum profit, all should now be mining BCH and the bitcoin chain would come to a screeching halt with no blocks whatsoever. Since BCH would then have a very high block frequency, the difficulty adjustment algorithm would soon, within a few days, increase the difficulty fourfold (the limit of what the algorithm does). All miners would jump back to bitcoin, and bitcoin would work normally for a while, until its difficulty would presumably rise a bit while BCH would stand still without a single block. The question now is whether the bitcoin difficulty rise suffices to chase all miners back into BCH mining or not, which also depends on the two coins' prices. Both chains have certain mitigating advantages. Bitcoin has the advantage that too few blocks would lead to very high fees, which would eventually lure miners back into an unpleasant, but less catastrophic equilibrium between high fees and miner's profitability estimates. BCH, on the other hand, has big blocks, so situations like one block per hour are unpleasant, but also not catastrophic. No block at all would, of course, be catastrophic for either chain. Fortunately the assumption I made initially will probably not be true. Some miners will stick to one chain for ideological reasons, out of conviction about long-term success, or because somebody bribes them, presumably also for ideological reasons. In addition most miners are not yet able to jump from one chain to the other easily and instantly for technical reasons. They would experience service interruptions, extra work, perhaps bugs. I am finding myself completely unable to predict what will actually happen, which is bad enough in itself. Please join in, anybody, who knows more. After yet another hard fork in a few months we may have the equivalent of an unstable three-body problem, like the one with celestial bodies, where the only safe prediction will be that nobody can predict the outcome. Bitcoin and its derivatives have not been designed for this situation. I bet Satoshi Nakamoto never thought about what would happen to the difficulty after such a hard fork, otherwise he would presumably have tried to design a solution into the difficulty adjustment. Even this intellectual giant could not foresee everything. What can we learn from this? That hard forks without a very clear separation, including different proof-of-work algorithms, are highly risky and dangerous and that the people who create them without understanding fully what they are doing may inadvertently damage or destroy both bitcoin and their own immature fork creations at the same time. Somehow this reminds me of Frankenstein's monster, born of good, but naive intentions, and sadly unable to fit in. Bitcoin Crash?
An increasing hashrate is a favorable for Bitcoin. According to information from Glassnode, the mining difficulty of Bitcoin increased by 3.6% onAug 24 and is now at a brand-new high. The information reveals that lots of miners are actively mining BTC, much more so than prior to the halving happened. Bitcoin mining difficulty together with BTC ... On March 9, difficulty up to date its all-time excessive at 16.55 T amid continued hashrate development. After the market crash, a few days later, the processing energy within the bitcoin community dropped sharply, shedding up to 30%. The difficulty of Bitcoin mining has increased again, reaching a new all-time high: 17.56 T. The increase took place today, after the August 10th increase that brought it back to around 17 T. This is curious, since with the halving in May, which halved the miners’ rewards in half, it was expected that the computing power used for mining would ... The bitcoin hashrate, which determines the bitcoin mining difficulty, is now at an all-time high than it ever was.Within one year, it is up by a factor of three. It is estimated that in the last 4 days alone, the mining difficulty has risen by over 8% to now reach 15, 000, 000, 000, 000 ATH. Bitcoin difficulty has ramped up to an all-time high following latest adjustment. Hash rate, a measure of computing power on the Bitcoin network, is also on the rise. Experts believe this could lead to some smaller miners capitulating.
What death spiral Bitcoin mining difficulty rises by 9% ...
A non-geeky explanation of what bitcoin mining difficulty is. This also shows how to keep your bitcoin take from diminishing over time. BITCOIN DIFFICULTY ADJUSTMENT Satoshi Nakamoto's Wallet ... Gold, expected to ‘rise to $5,000’, is not an investment, it is ‘a hedge’ - Duration: 30:40. IG UK 205,922 views. Bitcoin so sicher wie nie verwahren - https://amzn.to/2JVWhkD Das Must-have für alle Bitcoin Fans - https://amzn.to/2ZfQRbp -----Mehr interessa... In this video, shot in the Wynwood art district of Miami, I discuss issues relating to Bitcoin difficulty and mining. Category Science & Technology; Show more Show less. After the May 11 halving, some skeptics speculated that miners would capitulate or that the entire process would enter a death spiral. Fast-forward three mon...