Let's try to calculate how much Bitcoin mining difficulty will rise over next future adjustments. To do it we need determine who the miners are and what is their behavior. All Bitcoin miners can be divided into three categories:
- enthusiasts;
- casual miners with gaming/office PC;
- business rig owners;
Let's look on the behavior of members of this groups. Enthusiasts mine coins to support system and community or to trying to quickly get rich in Bitcoin gold rush. They do not invest much money into upgrade of their rigs. To return initial investments is quite enough for them. They may stop mining if electricity cost would be higher than mining earnings and return after difficulty drop. They mining hardware probably run in 24/7 mode.
Casual miners just experimenting with Bitcoin and do not target some goals in earnings from mining. They probably mine in working hours in the office or at home. Existence of such type of miners gives us intraday volatility of mining difficulty which can be approximated at 10-15% level.
Business rig owners trying to make Bitcoin mining the main source of their earnings. They trend to invest into upgrade and expansion of mining hardware to get more profit. This group gives us main piece of rising difficulty value. Let's calculate how much they can add to computational power of Bitcoin network each round.
The part with always-on mining hardware we may take as 80% of all Bitcoin network performance which for now estimated at 13.73 THash/s. As we saw all of them eventually would invest into hardware upgrade to increase hashing power. All Bitcoin network earn each round 50BTC*6per hour*24hours*14days between difficulty switch, which gives 100800BTC or 1310400 USD. So 1M USD will go to our serious mining group. All consumed power estimates now around 10MWatt for the network, so for this miners it costs 10MWh*24hours*14days*80%*0.1USD/KWh = 268800 UDS. Here we got left 731000USD to spend or invest for them. There is really different behavior in investing strategies among miners from 0% to 100% of profit. Lets say that they invest 50% all the time into upgrade, this is 365000USD. What you can buy for this money: most efficient cards with 1.5MHash/USD gives us 550Gh as evaluation for increase of performance each round. This is 5% of total Bitcoin network performance. So we can postulate that some rounds ahead we won't see increasing difficulty less that 5%, more likely around 10% because of newbie miners joined to Bitcoin.
This process may be interrupted by drop of BTC price. If price move down to 5USD/BTC the net profit for our 80% miners will be able to invest only 134400USD or 100Gh/s or less. This value will be less than 1% of network performance. Newbies at this price also wouldn't have reasons to join the network and difficulty will stabilize.
Users of Namecoin console client namecoind.exe may wonder sometime how to transfer coins from user's wallet to peer's or other user's wallet. This may happened when user decides to move namecoins to exchange market to convert it to USD or Bitcoins. The command for transferring coins in Windows is really simple:
When you got your first experience with Bitcoin money you may want to try bitcoin mining on your PC. First of all you need to get configuration information of your PC and check if your hardware capable to run bitcoin mining fast enough. As you know, CPU mining currently is faster than GPU mining more than 100 times. So it's very important to have really fast video card on-board. NVidia GeForce GPU cards are surprisingly slow in comparison to AMD ATI Radeon HD. It's pointless to run bitcoin mining on NVidia cards. Here list of most effective cards to run mining:
Today O’Reilly writers Pete Warden and Alasdair Allanill reported the discovery that new iPhone models by Apple, and a 3G iPad running iOS 4, is regularly recording the location of the device into a some file on device's disk. Devices running iOS 4 are storing a log with device's locations captured using cellular network signal data and time stamps. Moreover this database is not encrypted by any means. The database is being restored across backups, and synchronized using iTunes sync.
Megan Fox is widely known as an actress and model whose brilliant beauty is spiced by a bunch of tattoos. First star hit with Megan Fox was comics based movie Transformers. Sixteen years old, Megan won numerous awards at the American Modeling and Talent Convention in South Carolina. She first time starred on the screen in Olsen Twins. In next few years, Megan features on TV many times in What I Like About You, Two and a Half Men, and Hope & Faith. Appearing in movies was presented by role along with Lindsay Lohan in Confessions of a Teenage Drama Queen. But her first award winning role was in 2007 Transformers movie. In 2009, she repeated the success in movie Transformers: Revenge of the Fallen . Megan Fox also was voted as the 'Sexiest Woman in the World' by FHM magazine in 2008. It's rumored that she got nine tattoos on her body, out of which there are the face of Marilyn Monroe and a line from the play of William Shakespeare, 'King Lear.' Megan Fox has been engaged with an actor Brian Austin Green and get married in a private ceremony on June 24, 2010 in Hawaii.
Carlos Santana first recorded with his band Santana in late 1960's, playing electrified blues guitar with Cuban rhythms. Their album Abraxas has been a reliable seller for three decades, and features some of Santana's best known songs, including "Black Magic Woman" and "Oye Como Va." In 1999 Santana was again on the charts with the album Supernatural, which featured the hit single "Smooth." Here is videos of most exciting Santana's guitar solo: