Established Miners: How to react to difficulty increase?

farwarefarware Member Posts: 116
Are you building more rigs? ETH per day keeps going down and down while price also falls. Its ridiculous.

Do you think difficulty will drop or ETH per day increases when block time goes down with the next update?

Comments

  • MrYukonCMrYukonC Member Posts: 627 ✭✭✭
    None of the above.

    I would not commit any more $$ to mining at this point because the switch to PoS looms ever larger (still to be determined).

    The difficulty has risen by about 2x over the past few weeks.

    While I mine about half as many blocks as before (because the 2x rise in difficulty), the price also rose by about 2x, so it works out about the same. Which is how it's supposed to work.
  • dlehenkydlehenky Member Posts: 2,249 ✭✭✭✭
    Well, the difficulty increase is simply a reaction to all the new miners that jumped on the bandwagon when the ether value shot up. If the ether value goes down, some of the miners will leave, and the difficulty will have to drop to maintain the current block time (or the block time will go down). That's just the dynamic of the network.

    I don't think it's a given that the block time will go down when we enter the "Homestead" phase, although a 12 second block time was always the advertised target. We'll have to wait and see. However, if the block time target does decrease to 12 s, then that means more blocks to mine, so you'll probably see a lot more miners jump on it, since the profit potential will increase, so the difficult may drop at first to get to 12 s, but go back up due to the added miners/network hash rate. Again, that's just the dynamic of the network.

    There's no certainty in all this - ultimately it's a crap shoot.

    -Best Care
    David
  • farwarefarware Member Posts: 116
    edited February 2016
    MrYukonC said:



    While I mine about half as many blocks as before (because the 2x rise in difficulty), the price also rose by about 2x, so it works out about the same. Which is how it's supposed to work.

    The difficulty rose from 7 to 10+ thats not exactly double. You should try a stable pool to maximize your return. Could be worth a shot now.

    I am now back to 12 per day..

    What I hope is that blocktime goes down and number of miners stays flat or goes down which is realistic because there are hurdles to overcome before you can mine efficiently

  • farwarefarware Member Posts: 116
    MrYukonC said:

    None of the above.

    I would not commit any more $$ to mining at this point because the switch to PoS looms ever larger (still to be determined).

    The difficulty has risen by about 2x over the past few weeks.

    While I mine about half as many blocks as before (because the 2x rise in difficulty), the price also rose by about 2x, so it works out about the same. Which is how it's supposed to work.

    @MrYukonC may I ask how many coins you mined since last August? I'll be honest I only mined about 1600 ETH so far but I was a participant in the presale

    Right now I believe we'll have at least 5 more good months before difficulty is either too high or DAG size too large, so my best guess is that I'll end up with about 3 to 4k of mined coins, which is not that bad

    Did you have any outtages or broken cards? I had to "repair" one card so far (simply put some oil on one fan that was making problems, yes I know its not good but it will work for the next 4 months). Aside from that everything still running smoothly on my end
  • MrYukonCMrYukonC Member Posts: 627 ✭✭✭
    edited February 2016
    @farware As of today, I've mined 2623 ETH since last Aug/Sept with ~420 Mh/s. I don't think I was fully ramped up until sometime in Sept, though.

    Luckily, I've had no cards breakdown or anything of that nature. I keep Putty terminals open to my 3 miners and my Geth node machine just to keep an eye on things.

    Since it's winter here and the ambient temperature is a fair bit cooler, I've had almost no crashes/freezes with the miners. Although, all of my card temps are in the 59-70 C range, with most of them closer to the middle-lower-end of that range.

    The most common problem is Geth crapping out every 1-2 weeks. It seems like it eventually crashes itself due to occasional bad blocks in the chain? Anyway, I just close Geth and restart the machine and that solves the problem for a week or two.

    Are you solo mining or pool mining now?

    Edit: For a long time, the difficulty was in the high 5's, so that's what I was referring to when I said it roughly doubled. It went from around 5.9-ish to 11-ish. Not quite 2x, but close. And, it wasn't linear either...there was a lot of up, down, and sideways in there as well.
  • DPS50DPS50 Member Posts: 79
    MrYukonC Are you running Linux or Windows ?
    How do you start again the mining program if your rig shut down and powers on again ?
  • MrYukonCMrYukonC Member Posts: 627 ✭✭✭
    DPS50 said:

    MrYukonC Are you running Linux or Windows ?
    How do you start again the mining program if your rig shut down and powers on again ?

    I am running Linux (Ubuntu 15.04).

    To automatically start ethminer upon a reboot is slightly complicated.

    I use script files that I invoke from via cron.

    I have a start_ethminer.sh script that contains the following:

    xinit &

    sleep 5

    ~/Path_To_Ethminer/ethminer -G -t 6 -F mining_node_ip_address
    I use -t 6 because all of my mining rigs have 6 GPUs.

    Using
    crontab -e

    I add the following line:
    @reboot screen -dmS ethminer ~/start_ethminer.sh

    That final line added to the cron file will start ethminer upon (re)boot.
  • can2018can2018 Member Posts: 53
    If eth goes to POS will die, miner is the most interested in a coin, and they do mkt to another people how is eth is good, earl adopters. So, when mining will be not good, eth will lost a lot of adopters and the price will go down. Takem care about POS.
  • dlehenkydlehenky Member Posts: 2,249 ✭✭✭✭
    edited March 2016
    @can2018 You really need to read up on what Ethereum is. It's a smart contract platform, it is not strictly a crypto-currency like BTC. The reason it's value has far exceeds Litecoin is that there is tremendous value in Ethereum that has nothing to do with the currency. While I think PoS isn't a real good idea, the way it is currently described, the fact that the PoW miners will go away will not kill Ethereum.
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