The second 300% difficulty increase for Bitcoin Cash is in 30 blocks. What next? Same as before?
The second hash rate exodus is probably upon us. Like the recent article from Mengerian stated, the EDA will be on for a while so, as long as the market price of Bitcoin Cash is, more or less, above 0.14 BTC and bellow 0.35 BTC these swings can occur. What would it take to get Bitcoin Cash over 0.35? Any guesses?
Less than 100 blocks to go before Bitcoin Cash difficulty retarget -- expect profitability to double. Retarget is at 479808. What will miners do?
A chain death spiral for Bitcoin Legacy is not entirely out of the question. If miners defect in droves.. it can happen. I know it may be premature for me to say that. For all we know tomorrow everything resets, but it's a real possibility. And I am a bit saddened, actually that it might occur. Interesting times, indeed.
03-15 21:22 - 'Production volume is no where near enough to satisfy demand yet. Hence preorders that sell out, waiting lists, enormous hardware margins, and the fact difficulty continues to go up exponentially regardless of what btc price d...' by /u/Vertigo722 removed from /r/Bitcoin within 0-10min
''' Production volume is no where near enough to satisfy demand yet. Hence preorders that sell out, waiting lists, enormous hardware margins, and the fact difficulty continues to go up exponentially regardless of what btc price does. No one is turning off their miners yet. This wont last forever. Eventually, bitmain may chose to mine themselves rather than sell hardware nearer marginal costs, but as long as difficulty doesnt stagnate and/or follow btc price, you can be sure there is a shortage of asics, and mining is still "too" profitable, and thus you have artificially inflated asic prices. ''' Context Link Go1dfish undelete link unreddit undelete link Author: Vertigo722
[uncensored-r/Bitcoin] ELI5: Difficulty Adjustment, what it is and why it's important.
The following post by sorryabouturfeelings is being replicated because the post has been silently greylisted. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7n79hz The original post's content was as follows:
Before we even begin to understand what bitcoin mining difficulty means, we need to know how mining works. We have covered this topic in detail before, so we will just give you a little overview before getting into the different nuances of difficulty. Following that, we will look at how mining difficulty is calculated and how it changes to suit the network’s needs. 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 Now, Difficulty is re-calculated every block to ensure blocks are found every 10 minutes on average. As more computers attempt to mine Bitcoin Cash (BCH) and increase the Hash Rate, the difficulty will increase. If the Hash Rate decreases, difficulty will decrease. The difficulty is a measure of how difficult it is to mine a Bitcoin block, or in more technical terms, to find a hash below a given target. A high difficulty means that it will take more computing power to mine the same number of blocks, making the network more secure against attacks.
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