Is it plausible, wait for difficulty increase, switch power to Bitcoin Cash mining, Bitcoin delayed?
Bitcoin Cash was auto-banned from other reddit. So the Bitcoin difficulty changes in 1.5 days, and is projected to increase ~6% and adjusts every ~14 days. Bitcoin Cash adjusts much faster. So if the difficulty increases, and hash power starts switching could Bitcoin be in a similar scenario with delayed time between blocks? source: https://bitcoinwisdom.com/bitcoin/difficulty
this is the very basic for latecomer always doesn't understand. i keep seeing they insist on mining bitcoin with SHA256 ASIC, i know its fun, its fun to see you generate money out of thin air, but thats not how we do it today because SHA256 ASIC era are gone, its very expensive playing field right now, if you insist want to mine some bitcoin, you should start mining using GPU! why? lets calculate profitability of your SHA256 ASIC, and lets make it really easy by assuming some factor :
you have free electricty
your ASIC does not consume electricity
your ASIC shipping cost is free
you have ASIC right now in hour hand
you bought ASIC for 1BTC price (for this example, i will use ASICMiner Cube 38GH/s which price is 1BTC right now)
now go here you will see you will get 1 BTC in about 75 days right now (see the 2nd column from the rightmost), this value is not correct since it does not account for difficulty increase within 75 days, bitcoin difficulty are increasing about 35% in 2 weeks, thats about 70% per month, you will see the correct calculation is here which you will never get 1BTC within a year, and after 6 months your ASIC doesn't generate bitcoin anymore now lets compare it to GPU miner for Scrypt mining, which i use realistic assumption here
you dont have free electricity, you will pay 0.1$/KWH
your GPU rig consume constant max amount of electricity that it need 24/7
your GPU rig come with shipping cost
you have GPU rig in your hand right now
you bought GPU rig for 1 BTC ( its about 1000$, for this example i will use 2x AMD R9 280X which cost 800$ and will produce 1.6MH/s with cost about 750W/h )
now go here, you will see that on the most profitable coin (first row) you will get 1 bitcoin for about 30 days (its 45 days faster than SHA256 ASIC), how about difficulty increase within these period, this factor is not as scary as bitcoin, lets see difficulty chart for LTC here, you will see that the diff is up and down, by calculating the data history for 1 year, you will get that LTC difficulty increase is about 3% per month on average (this is 25x smaller than bitcoin difficulty change rate), so coinwarz data is not too much way off here by not take into account of difficulty increase TL;DR;
you get 3500% more profit mining scrypt altcoins using GPU than mining bitcoin using SHA256 ASIC, for same price of hardware.
mining using GPU are less risk because you can buy GPU rig anytime, anywhere, no pre-order.
you get 1BTC in 30 days for mining altcoin with GPU, compared to 300+ days for mining bitcoin with ASIC
note: this calculation are made in worst case scenario for GPU compared to best case scenario for bitcoin ASIC thats just prediction and calculation, things will go wrong right? lets see the report from my own GPU mining rigs here, see 2nd sheet (RIG1-Report), this is my earning report day to day in BTC (already running since december 2013), my rigs cost about 2000$ (this is 2nd hand 6x AMD 7970 for 4.2MH/s) and will ROI within 50 days from start if my calculation are correct
What's with the recent difficulty increase? Will there be a difficulty decrease next?
So the recent change looks to me like it overshot the mark. The expected next difficulty line is now trending below the difficulty line. As a newbie, can someone clear this up for me? Does this mean that we might expect a difficulty decrease next time around? Is it indicative of larger trends (such as maxing out of the network hash rate)? I know the network will continue to grow, but because of the large amount of computing power already working on the blockchain, any new additional computational power will have a proportionately smaller effect. Thanks.
How to find and use a Bitcoin ATM? - One key obstacle that cryptocurrency adoption is facing in its quest to global adoption is the difficulty to purchase the digital assets. The narrative is changing as the industry continues to witness an influx in the number of Bitcoin ATMs across the world.
Are there plans to change Bitcoin core's difficulty adjustment algorithm?
Recent events have alerted me to the fact that the 2016 block turnaround on difficulty adjustment presents a potentially crippling Achilles heal for Bitcoin. If big hash power pulls out at any given moment everything stagnates. Surely this is something that needs to be addressed?
[uncensored-r/Bitcoin] attack started after difficulty change..
The following post by ThatBitcoinGuyy is being replicated because the post has been silently removed and some comments within it have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7kww4w The original post's content was as follows:
edit 2 * and by the way, I made a flip on this bch pump(thanks for the quick profit , back in bitcoin now). I figured this would be a good test while making a profit to see how their coin trades and BCH is not faster than btc. They both traded at the same speed and even the fees were nearly the same. So this is an OBVIOUS attack on bitcoin because our sub is getting filled with people complaining about fees and slow transactions but I just tested them both out on a flip and they were nearly the same(keep in mind BTC bitcoin has waaay more volume. In other words, bitcoin is still stronger than ever before) it's routine by now. They attack bitcoin everytime there's a difficulty change in the mining. I noticed that's when it first started 2 days ago Edit* this thread got down voted INSTANTLY to prove my point.(that attackers are lurking here trying their hardest..) lol. All of the 'big' attacks on bitcoin happen during the difficulty adjustment. Expect the money to pour back into bitcoin when it get's closer to changing back difficulty or when common sense kicks in. edit 3* This went from downvoted to upvoted real quick, thanks to our community always standing up against the people who come here to hate, like seriously the fact your coming here to hate is the exact reason your apart of this 'attack' and the funny thing is there's literally a bunch of haters here as we speak lmao! thanks for proving my point. We are a community who support bitcoin, if you don't support it than just get the fuck out and stop hating, the fact you think you need to hate to get attention to your coin just shows who's the boss and who's the bitch. Thanks for the free money, take care, stop hating and just move on with yourself...
Largest difficulty change ever in mining bitcoins about to occur in ~10 minutes
http://allchains.info/ EDIT: I'm not sure whether a 20% increase is the largest relative change, but certainly the absolute change is the largest ever. EDIT2: Changed, new difficulty is 4367876. Good luck mining! EDIT3: I'm seeing different numbers at Blockchain.info. Maybe "allchains.info" is incorrect. If so, sorry for the confusion.
Can anyone suggest a resource that I can use to track changes in bitcoin mining difficulty? I was using https://bitcoinwisdom.com/bitcoin/difficulty but it seems to have been stuck on an expected change in difficulty in 10.3 minutes over the last several days. Thanks in advance for your assistance.
Bitcoin’s PoW hash rate is the amount of computing power one would need to do a reorg attack or to change the blockchain. Bitcoin’s hash rate is currently at 121,637,666 tera hashes. As hash rate increases and more miners secure the network, Bitcoin’s price sometimes follows it up. #bitcoin. difficulty adjustment appr. +6,8% today. Bitcoin difficulty is a value used to show how hard is it to find a hash that will be lower than target defined by system. Bitcoin mining difficulty is changed every 2016 blocks. The difficulty charts show that it has increased significantly. Difficulty is a measure of how difficult it is to find a hash below a given target. The Bitcoin network has a global block difficulty. Valid blocks must have a hash below this target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares. How often does the network difficulty change? Every 2016 blocks. The Bitcoin difficulty chart provides the current Bitcoin difficulty (BTC diff) target as well as a historical data graph visualizing Bitcoin mining difficulty chart values with BTC difficulty adjustments (both increases and decreases) defaulted to today with timeline options of 1 day, 1 week, 1 month, 3 months, 6 months, 1 year, 3 years, and all time The Bitcoin network has a global block difficulty. Valid blocks must have a hash below this target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares. How often does the network difficulty change? See target. What is the formula for difficulty? difficulty = difficulty_1_target / current_target
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