Topic: Relationship between mining difficulty and coin value (Read 173 times)
Thank you for the info, those charts are helpful
Little more complicated then that, but I think it's safe to say that as the bitcoin price goes up more often then not the difficulty of mining bitcoin will also be going up. There may be some changes with this due to the fact of splitting of the amount of Bitcoins that are given as the fee, but you're correct in a general sense.
You could always compare this (https://www.coindesk.com/data/bitcoin-mining-difficulty-time/) and the price of Bitcoin (you can find this anywhere, probably on the same link)
You could always compare this (https://www.coindesk.com/data/bitcoin-mining-difficulty-time/) and the price of Bitcoin (you can find this anywhere, probably on the same link)
With an increase in the price, more miners are jumping in and thereby the difficulty is increasing steadily so profit will not be high for users. The difficulty is not increasing proportional but steadily, there are times at which the difficulty is decreasing but also increasing.
I wanted to get some opinions on how changes in mining difficulty affect the value of bitcoin and other altcoins? Is it a proportional relationship or is it much more complicated than that? Thought?
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