difficulty – Buttcoin Foundation http://www.buttcoinfoundation.org Buttcoin - It's Bitcoins with Butts! Wed, 07 Jun 2017 22:27:42 +0000 en-US hourly 1 https://wordpress.org/?v=4.7.5 Bitcoin mining difficulty jumps up nearly 20% today http://www.buttcoinfoundation.org/bitcoin-mining-difficulty-jumped-nearly-20-today http://www.buttcoinfoundation.org/bitcoin-mining-difficulty-jumped-nearly-20-today#comments Mon, 22 Jul 2013 22:48:24 +0000 http://buttcoin.org/?p=1851 In mining news, the difficulty in mining just jumped up(uP UP) 19.5%. I wonder how many miners are going to quietly ignore taking a 20% hit in PURE PROFIT from this. For context, this means that if some hopeful soul gets his BFL mining rig today, it’ll be churning out bitcoins at less than one-fifteenth […]

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]]> In mining news, the difficulty in mining just jumped up(uP UP) 19.5%. I wonder how many miners are going to quietly ignore taking a 20% hit in PURE PROFIT from this.

For context, this means that if some hopeful soul gets his BFL mining rig today, it’ll be churning out bitcoins at less than one-fifteenth the rate they expected when they placed the order a year ago.

Even with the residual higher price of bitcoins following this year’s bubble (currently about nine times higher), they’re still only clearing 60% of the real money that they were hoping for at the end of the day.

And that’s before even factoring in things like the tripled electricity usage. And IF they manage to cash out at all despite all the new regulatory hurdles. And IF they got their hardware today, before anything else in these numbers goes haywire. (And IF it works perfectly.)

Bitcoin!�

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