Difficulty has increased to 55882!

[khal]

It'll be near the 14/07 and a difficulty of 60/70% (rough estimates). This is the boomerang effect :p

[Chucksta]

I'll be near the 14/07 and a difficulty of 60/70% (rough estimates). This is the boomerang effect :p

Good, makes things more interesting.

If prices stay the same or rise (NMC side), there will probably be BTC miners switching to NMC miners after the next BTC difficulty increase, If not, then there will be after the NMC difficulty adjustment (decrease).

Us miners (short term gain) are suffering from duel personality disorder ... BTC miner, NMC miner, BTC miner, NMC miner,

Khal, do you know where I can get info on coding (php) difficulty increase for NMC and BTC. I wish to set up a dynamic display on the site I am on ? Crypto Currency on Max in Montreal
Much like your http://dot-bit.org/tools/nextDifficulty.php

[khal]

A better estimation with the new algo of http://dot-bit.org/tools/nextDifficulty.php :
Date : 11/07/2011 17:42
Difficulty : 32268.31
Ratio : x0.58

Khal, do you know where I can get info on coding (php) difficulty increase for NMC and BTC. I wish to set up a dynamic display on the site I am on ? Crypto Currency on Max in Montreal
Much like your http://dot-bit.org/tools/nextDifficulty.php

I use a patched version of namecoin to get raw block data (like the one on blockexplorer for bitcoin) and i use the time difference to calculate all data.

[Chucksta]

Thanks Khal, for the info

I like the new look of the difficulty page.

It looks like we are going to get an instant difficulty adjustment of 62% decrease. My guess will be no later than 12 noon GMT tomorrow (24th of June)

[doublec]

My guess will be no later than 12 noon GMT tomorrow (24th of June)

I think you read it wrong. The next difficulty adjustment is estimated to occur somewhere around the middle of July. Probably a month away if the network gets any slower. I think for any new bitcoin related currencies learning from the namecoin experience, one thing to do would be to reduce the difficulty adjustment time. It's too easy for big power to come and go causing having with block times.

[Chucksta]

My guess will be no later than 12 noon GMT tomorrow (24th of June)

I think you read it wrong. The next difficulty adjustment is estimated to occur somewhere around the middle of July. Probably a month away if the network gets any slower. I think for any new bitcoin related currencies learning from the namecoin experience, one thing to do would be to reduce the difficulty adjustment time. It's too easy for big power to come and go causing having with block times.

oh....

what does the instant part mean ?

Instant 14759-14879 23/06/2011 12:18 21'190.34 x0.38

I thought that was some sort of sageguard, applied if too many or too few coins are being mined. In this case, too few. Therefore need to make it easier to find the coins.

[doublec]

what does the instant part mean ?

Instant 14759-14879 23/06/2011 12:18 21'190.34 x0.38

'Instant' is just the difficulty based on the time taken to mine the last 120 blocks. It gives an idea of the actual network hash rate. The date on that is the date of the last block (block 14879).

[Chucksta]

what does the instant part mean ?

Instant 14759-14879 23/06/2011 12:18 21'190.34 x0.38

'Instant' is just the difficulty based on the time taken to mine the last 120 blocks. It gives an idea of the actual network hash rate. The date on that is the date of the last block (block 14879).

ah, okay, cool

[JohnDoe]

I think for any new bitcoin related currencies learning from the namecoin experience, one thing to do would be to reduce the difficulty adjustment time. It's too easy for big power to come and go causing having with block times.

Hopefully at some point a cross miner will be created to avoid this problem.

[drknark]

It's likely though that after two BTC difficulty increases the hashrate will return to namecoin (or after one if the price increases). This will definitely happen before middle of July. Eventually it should settle down around the point where NMC and BTC are equally profitable.