Mining difficulty on the Bitcoin network increased to 281800917193.19580078 from 254620187304.06140137 for an approximately 10.675 percent increase. This is of course yet another all time high for the network mining difficulty and shows a substantial continued appetite for the extant 12.5 Bitcoin block subsidy.
The Bitcoin network difficulty made a very small ~0.395% upward movement to 254620187304.06140137 from its previous value in the latest adjustment.
Following ViaBTC's announcement that they would be supporting the latest effort to fork an altcoin off of Bitcoin their hashpower has dropped by one half and is likely to drop further. The drop in hash rate appears to be due to miner defections. Since "Bitcoin Unlimited"1 became the favored effort pushed by social engineers like Roger Ver, it has been met with an even colder reception than previous forking efforts including Bitcoin XT and ClassicCoin, with the exception of ViaBTC's warm embrace.
ViaBTC is just the latest in a long line of pools to suffer after choosing their vision for the future poorly. Twenty two months after the publication of "The hard fork missile crisis" every aspiring hard fork away from Bitcoin has managed to defeat itself well before the solutions covered in that piece were required though they still abide.
aka Unlimited Spam Coin ↩
The Bitcoin network mining difficulty has risen to 258,522,748,404.5154 which is 7.17% higher than the previous value of 241,227,200,229.991 in this sixth increase, the seventh adjustment following the second halving. The 500-block window estimate of hashrate did rise above the two exahash mark during this period, although the ultimately resulting adjustment only corresponds to a mere 1.82 EH/s.
The relatively new mid-sized mining pool ViaBTC (WOT:nonpeople) recently announced it is mining blocks expressing support for the latest effort to fork an altcoin away from actual Bitcoin. ViaBTC throughout its short history has climbed to represent ~10 percent of the Bitcoin network's hashrate. The only other pool to announce any form of support for this latest social engineering assault on Bitcoin was Roger Ver's (WOT:nonperson) own pool which languishes at ~1 percent of the network's hash rate in spite of paying miners ~6 percent more than they should be making for mining with that pool.
The plainly counter economic activity in support of this latest social engineering attempt suggests that the United States government and its other criminal agents of fiat are still sinking ever more precious resources into their attempts to cripple Bitcoin. The arrogance of this move also suggests Blockstream, the other camp of social engineers seeking to pervert Bitcoin, is likely to begin spearheading a substantial push for something soon.
2013's future of Bitcoin regulation is the present, Republican, reality of Bitcoin regulation. The unforgiving march of time is eroding the few remaining refuges of the delusionist profession which is likely to result in increasingly desperate efforts1 to combat the march of inevitability.
A BP oil platform located in the North Sea experienced Sorry For Your Loss on Sunday by leaking 95 tons of oil following a technical issue. The spill is being monitored by air and the company "believes that allowing the oil to disperse naturally at sea is the best way to deal with the spill, although other options have not been ruled out." The release was contained within approximately an hour of it occurring though officials said the platform, located about 46 miles off the coast of Shetland, is still offline. Scottish officials with the Royal Society for the Protection of Birds are said to be investigating what impact the accident would have on wildlife in and around the Atlantic. The spill is said to be around two times smaller than another similar spill that occurred on Shell’s Gannet platform in 2011.
Continuing the recent trend, mining difficulty has climbed to 241,227,200,229.991, an increase of 6.82% above the previous value. For perspective, the net increase since the recent halving is only 12.99%, less than what has been previously covered in a single leap. Miner revenue from transaction fees has kept growing since then, reaching 806.50601126 bitcoins in the last adjustment period. This comprises 3.10% of the total mining rewards, and corresponds to a mean price of 54.2 satoshis per byte for a piece in our chain.
The mining difficulty has risen to 220,755,908,330.3723, which is 1.56% above the previous value, corresponding to a network hashrate around 1.6 EH/s.