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Topic: Reduction in Difficulty (Read 1357 times)

worldinacoin (OP)

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Reduction in Difficulty

October 31, 2011, 03:03:52 AM

In two blocks time the difficulty will be down quite a bit

Blocks   151198
Difficulty   1468195
Estimated   1204386 in 2 blks

How will it affect the price of the bitcoin? Also are we able to mine more bitcoins in a shorter time?

geek-trader

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Re: Reduction in Difficulty

October 31, 2011, 03:20:56 AM

Quote from: worldinacoin on October 31, 2011, 03:03:52 AM

1. not at all
2. yes

Make 1 deposit and earn BTC for life! http://bitcoinpyramid.com/r/345
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notme

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Re: Reduction in Difficulty

October 31, 2011, 03:43:07 AM

Ding!

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.

payb.tc

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Re: Reduction in Difficulty

October 31, 2011, 03:45:02 AM

1,203,462

Rassah

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Re: Reduction in Difficulty

October 31, 2011, 04:09:45 AM

It's profitable to mine again! Hope the price stays above $3.2 though

Eveofwar

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Re: Reduction in Difficulty

October 31, 2011, 04:12:56 AM

Quote from: Rassah on October 31, 2011, 04:09:45 AM

It's profitable to mine again! Hope the price stays above $3.2 though

For some, it's profitable down to $1...

deepceleron

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Re: Reduction in Difficulty

October 31, 2011, 04:20:23 AM

Hey, quit being so lucky, you're going to mess things up!

Last 10    151200-151207    31/10/2011 04:18    2'311'686.28    x1.92

RandyFolds

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Re: Reduction in Difficulty

October 31, 2011, 04:23:30 AM

Quote from: deepceleron on October 31, 2011, 04:20:23 AM

Hey, quit being so lucky, you're going to mess things up!

Last 10    151200-151207    31/10/2011 04:18    2'311'686.28    x1.92

That's not luck, that's people who turned off cause it was unprofitable turning back on because after this drop, they are back in the black.

deepceleron

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Re: Reduction in Difficulty

October 31, 2011, 05:21:19 AM

Quote from: RandyFolds on October 31, 2011, 04:23:30 AM

Quote from: deepceleron on October 31, 2011, 04:20:23 AM

Hey, quit being so lucky, you're going to mess things up!

Last 10    151200-151207    31/10/2011 04:18    2'311'686.28    x1.92

That's not luck, that's people who turned off cause it was unprofitable turning back on because after this drop, they are back in the black.

Uh, Mr Potato Head! 50% More hash power than has ever existed on Bitcoin doesn't magically turn on at once within an hour.

RandyFolds

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Re: Reduction in Difficulty

October 31, 2011, 05:25:03 AM

#10

Quote from: deepceleron on October 31, 2011, 05:21:19 AM

Quote from: RandyFolds on October 31, 2011, 04:23:30 AM

Quote from: deepceleron on October 31, 2011, 04:20:23 AM

Hey, quit being so lucky, you're going to mess things up!

Last 10    151200-151207    31/10/2011 04:18    2'311'686.28    x1.92

That's not luck, that's people who turned off cause it was unprofitable turning back on because after this drop, they are back in the black.

Uh, Mr Potato Head! 50% More hash power than has ever existed on Bitcoin doesn't magically turn on at once within an hour.

Uh, fella! All sampling inaccuracies aside, do you think those numbers are simple variance and there was no new power added to the network after the difficulty change? That it went from 12% down to 92% up in a couple hours?

Brian DeLoach

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Re: Reduction in Difficulty

October 31, 2011, 05:29:15 AM

#11

Quote from: RandyFolds on October 31, 2011, 05:25:03 AM

I can't picture hundreds of people waiting at their computers ready to start mining right at difficulty change.

RandyFolds

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Re: Reduction in Difficulty

October 31, 2011, 05:50:35 AM

#12

Quote from: Brian DeLoach on October 31, 2011, 05:29:15 AM

Quote from: RandyFolds on October 31, 2011, 05:25:03 AM

I can't picture hundreds of people waiting at their computers ready to start mining right at difficulty change.

You've obviously never seen namecoin.

Eveofwar

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Re: Reduction in Difficulty

October 31, 2011, 06:42:12 AM

#13

Quote from: RandyFolds on October 31, 2011, 05:25:03 AM

Quote from: deepceleron on October 31, 2011, 05:21:19 AM

Quote from: RandyFolds on October 31, 2011, 04:23:30 AM

Quote from: deepceleron on October 31, 2011, 04:20:23 AM

Hey, quit being so lucky, you're going to mess things up!

Last 10    151200-151207    31/10/2011 04:18    2'311'686.28    x1.92

That's not luck, that's people who turned off cause it was unprofitable turning back on because after this drop, they are back in the black.

Uh, Mr Potato Head! 50% More hash power than has ever existed on Bitcoin doesn't magically turn on at once within an hour.

It was at 300% right as difficulty change Tongue

CrazyGuy

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Re: Reduction in Difficulty

October 31, 2011, 06:53:32 AM

#14

Difficulty has gone down 20% tonight, but trade rate has gone down 25% or more since the last difficulty change. If mining was not profitable for them then, it still shouldn't be.

ASICPuppy.net ASIC Mining Hardware and Accessories - Compac F in stock!

phelix

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Re: Reduction in Difficulty

October 31, 2011, 08:59:35 AM

#15

estimates are quite wrong after a difficulty jump/drop. it should be ratger simple to create a better algorithm, though.

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