New difficulty

[Stouse49]

The difficulty adjustment must be ~250 blocks.

While our difficulty dropped, so did the hashrate.

[Marink]

did difficulty drop to 3.67052813? 

Yes it did!
But for what reason, and why now??

[bobbix]

yes it did, I am hashing away! it changed at block 21168

http://gld.cryptocoinexplorer.com/chain/Goldcoin?count=100&hi=21203

[Stouse49]

The difficulty adjustment must be ~250 blocks.

The difficulty dropped after block 21,167, which is 167 blocks after the last change.  This is according to the block chain explorer.

[hyoshi]

wait a sec here, gldcoin said before he was changing the difficulty to 126 blocks - I looked at the code again, trying to figure out how he did it.

[twobits]

wait a sec here, gldcoin said before he was changing the difficulty to 126 blocks - I looked at the code again, trying to figure out how he did it.

Really? Where did he say that? Because I don't think he did that.    I guess the change at 21168 confused you?  At block 21000 the nTargetTimespan drops by 4, though the way it was encoded was far more convoluted than needed.   So the logic for calculating the break points was changed to special case the changeover block.    However, nothing else was special cased.  It does not now subtract the difficulty changeover block to find the next changeover calculation point.    As you are fond of saying, this is a simple matter of math.


21168 modulo  504 = 0 and is then the next changeover point after 21000,  however since the difficulty changes did not get changed to 126 blocks, the next changeover will then of course be 21672.   

[hyoshi]

Yeah LOL that's what confused me, the change at 21,168.  So in effect, when the fork kicked in at 21,000, instead of changing at 22,176, as was originally coded in the original release, it basically took the last difficulty change as being 20,664 (even though it didn't change at the time), and since the next difficulty change would have been 21,168 (20,664 + 504), that's why it changed.  I didn't think about that at the time... 

[hyoshi]

The difficulty algo is working rather well IMHO difficulty has come down even though there is 50mH/s mining it

[Marink]

The difficulty algo is working rather well IMHO difficulty has come down even though there is 50mH/s mining it

2.5 difficulty for 50MH/s? Or is there something hidden that I don't know about?

[AZIZ1977]

The difficulty algo is working rather well IMHO difficulty has come down even though there is 50mH/s mining it

2.5 difficulty for 50MH/s? Or is there something hidden that I don't know about?

hashnetwork is73 MH/s

[Marink]

The difficulty algo is working rather well IMHO difficulty has come down even though there is 50mH/s mining it

2.5 difficulty for 50MH/s? Or is there something hidden that I don't know about?

hashnetwork is73 MH/s

It's still too high.

[AZIZ1977]

The difficulty algo is working rather well IMHO difficulty has come down even though there is 50mH/s mining it

2.5 difficulty for 50MH/s? Or is there something hidden that I don't know about?

hashnetwork is73 MH/s

It's still too high.

hashnetwork is rising over almost 81MH/s. People are noticing high profability.

[MicroGuy]

There is not enough liquidity in the GLD market to support a huge dump.

So it may prove useful to keep some BTC/LTC funds in your Cryptsy account in the event some of the larger miners decide to start rapidly dumping. You may just get lucky and have time to swoop up some cheap GLD. 

[AZIZ1977]

Within 24 hrs we will see some of the miners dumping their coins on exchange thats a disadvantage of having a low difficulty. They can mine the Goldcoins now in the thousands per day.

[MicroGuy]

Within 24 hrs we will see some of the miners dumping their coins on exchange thats a disadvantage of having a low difficulty. They can mine the Goldcoins now in the thousands per day.

Correct.  But if you hold a long-term view, this is a good thing. I view this as a buying opportunity since I think GLD will be worth $5.00/coin within 24 months.

If the miners dump, it just means the long term believers that buy cheap will have more five-dollar coins down the road. However it is my understanding that at least a portion of those mining now, are mining to hold.