Rising difficulty
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That’s what I was thinking too. I’m new to feathercoin (and crypto currency in general) so I’m still trying to figure out the different aspects. Feathercoin seems like a great coin though so I’m happy to see more people coming on board!
I wouldn’t mind the difficulty staying low for a little while though. I only started mining a few days ago… =)
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Or it could be the start of an impending difficulty attack. It’s hard to know for sure.
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Sorry if this is makes me sound like a noob, but I haven’t heard of difficulty attacks before. Could you explain a little more about them? Are they when a group assigns a large amount of hashing power to a coin with the intention of driving the difficulty up to deincentivize people from mining since the coin would be less profitable in the short term?
Thanks!
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Not quite.
They drive up difficulty, so they can crash it by yanking it away. This tends to send miners running to another coin, making it drop further. This sets them up to outmine all the other miners when the difficulty is low, raking in the coins for cheap. This raises the difficulty, and they rinse and repeat.
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So the easy solution to that would be to: just stick around ;D
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Gotta say I’m kinda impressed by the current difficulty.
Feathercoin have been steady at over 4-5k Mhash for the last month, even though the exchange does not reflect the value vs other coins (coinwarz etc).Sure seems there is high loyalty in feathercoin members! impressed ;)
Seems strange the latest rise in hashrate though, yeah it has increased on exchange, but still not high enough to be on the top profitable mining coin chart. meaning where is the extra 5-6k Mhash coming from?
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[quote name=“svennand” post=“49517” timestamp=“1388767613”]
Seems strange the latest rise in hashrate though, yeah it has increased on exchange, but still not high enough to be on the top profitable mining coin chart. meaning where is the extra 5-6k Mhash coming from?
[/quote]working prototypes of these maybe?
[url=http://www.coindesk.com/alpha-technology-pre-orders-litecoin-asic-miners/]http://www.coindesk.com/alpha-technology-pre-orders-litecoin-asic-miners/[/url] -
[quote name=“justgeig” post=“49525” timestamp=“1388770583”]
[quote author=svennand link=topic=6609.msg49517#msg49517 date=1388767613]
Seems strange the latest rise in hashrate though, yeah it has increased on exchange, but still not high enough to be on the top profitable mining coin chart. meaning where is the extra 5-6k Mhash coming from?
[/quote]working prototypes of these maybe?
[url=http://www.coindesk.com/alpha-technology-pre-orders-litecoin-asic-miners/]http://www.coindesk.com/alpha-technology-pre-orders-litecoin-asic-miners/[/url]
[/quote]Might be, but still. why if they are not loyal miners do they target feathercoin?
Nothing wrong with that, just don’t get if you have that kinda newly found hashrate and invested ALOT of money, why not target the most profitable atm
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[quote name=“svennand” post=“49517” timestamp=“1388767613”]
Gotta say I’m kinda impressed by the current difficulty.
Feathercoin have been steady at over 4-5k Mhash for the last month, even though the exchange does not reflect the value vs other coins (coinwarz etc).Sure seems there is high loyalty in feathercoin members! impressed ;)
Seems strange the latest rise in hashrate though, yeah it has increased on exchange, but still not high enough to be on the top profitable mining coin chart. meaning where is the extra 5-6k Mhash coming from?
[/quote]Where to find a total hash chart?
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[url=http://www.coinwarz.com/difficulty-charts/feathercoin-difficulty-chart]http://www.coinwarz.com/difficulty-charts/feathercoin-difficulty-chart[/url]
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It looks like the difficulty may be stabilizing a bit in the short term.
I definitely see the two sides of the ASIC coin. Having more hashing power will help secure the network and legitimize it in the eyes of more people. It’s unfortunate though that they may increase the difficulty so drastically that small GPU miners will get pushed out from mining. I’m still very new to crypto currency and one of the reasons I got involved, besides just being intrigued by the concept in general, was that you could actually contribute to the system by mining and be rewarded for your efforts. This is also a point of interest for the few people I’ve tried my best to explain crypto currency to and I worry that if mining starts to require thousands of dollars of investment, like BTC, some people who otherwise might be early-ish adopters may just stay on the sidelines and lose interest.
Anyway, just my .02 FTC =)