I've got some information on mining difficulty in my crypto and blockchain dictionary, decryptionary.com.
Check it out at: https://decryptionary.com/dictionary/mining-difficulty/
It's a simple, concise version of pretty much everything said in this post.
Topic: why bitcoin mining difficulty is increased? - page 2. (Read 5054 times)
Because more miners joined the network.
why bitcoin mining difficulty is increased?
I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
why bitcoin mining difficulty is increased?
I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
Since the algorithm of btc is getting older, there Needs to be higher difficuty, both in mathematical (logistical grow the form of function is called in german, not quite sure about enlish Terminus) sense and that the value of btc increases!
>>The harder it is to mine bitcoin, the more valuable it becomes. Just like gold, it's not easy to come by.
i dont think because of a miner joing the btc pools the price is directly higher valued.
price = bid and ask that meets.
there can be many miners, if no new customer/or old wants to buy the btc there is no trade.
so be prepared that miner shoot over the max diff. a while, then learn that its not profitable anymore, then a correction sets in. (hashrate)
i dont think because of a miner joing the btc pools the price is directly higher valued.
price = bid and ask that meets.
there can be many miners, if no new customer/or old wants to buy the btc there is no trade.
so be prepared that miner shoot over the max diff. a while, then learn that its not profitable anymore, then a correction sets in. (hashrate)
The harder it is to mine bitcoin, the more valuable it becomes. Just like gold, it's not easy to come by.
the bitcoin mining will be increase due to the increasing difficulty increase because of the bitcoin will be coming a popular coin.
its depends of the bitcoin network
The difficulty is adjusted every 2016 blocks based on the time it took to find the previous 2016 blocks. At the desired rate of one block each 10 minutes, 2016 blocks would take exactly two weeks to find. If the previous 2016 blocks took more than two weeks to find, the difficulty is reduced. If they took less than two weeks, the difficulty is increased. The change in difficulty is in proportion to the amount of time over or under two weeks the previous 2016 blocks took to find.
To find a block, the hash must be less than the target. The hash is effectively a random number between 0 and 2**256-1. The offset for difficulty 1 is 0xffff * 2**208
The difficulty is adjusted every 2016 blocks based on the time it took to find the previous 2016 blocks. At the desired rate of one block each 10 minutes, 2016 blocks would take exactly two weeks to find. If the previous 2016 blocks took more than two weeks to find, the difficulty is reduced. If they took less than two weeks, the difficulty is increased. The change in difficulty is in proportion to the amount of time over or under two weeks the previous 2016 blocks took to find.
To find a block, the hash must be less than the target. The hash is effectively a random number between 0 and 2**256-1. The offset for difficulty 1 is 0xffff * 2**208
I think because the hardware so expensive. not all can relate unless you are technical persons and willing to invest despite of prize of the parts are not affordable and have knowledge to maintain the operation. if the unit having a problem your date will also lost.
Isn't it because the miners for bitcoin are increasing and the coins to be mined were halves every year? There is also the increase in demand but don't worry mining is still profitable even before people can mine a good amount of it for everyday
Due to the volume of electricity, it consumes as the specifications go higher than the higher the consume electricity it will require, probably also one the reasons is that because the demand tends to increase as the price of goes up and up as the day passes by the volume of activity for miners are getting much more difficult that is stressing them out.
why bitcoin mining difficulty is increased?
I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
Bitcoin mining is not like just farming. It takes a limited amount of coins from a limited source. There are more and more miners increasing day by day and this is making mining difficult and costly too. If we have to solve this one need to increase the amount of total BTC in the world or one day there will be no miners left around the world as the cost of electricty will exceed the profit. I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
As per my knowledge mining difficulty directly reflects the amount of computing power that the Bitcoin network has. This is adjusted on a periodic basis so that the average block solution time is 10 minutes (Bitcoin clients recalculate the difficulty every 2016 blocks). The difficulty can go up or down depending on how much effort people are putting into mining.
it's very simple the more the miners the more difficult the network
because the higher the price the harder it is also to be obtained
the cheaper the price the easier it can be
No you are wrong. Mining difficulty doesnt really depend on the value of bitcoin. Price isnt connected at all. Mining difficulty do increase because there are already lots of miners in the network trying to solve out blocks which means the more miners the higher possibility to increase mining difficulty.Its just like that and this is why mining bitcoin wont really be sustainable for long term because of the difficulty. the cheaper the price the easier it can be
because the higher the price the harder it is also to be obtained
the cheaper the price the easier it can be
the cheaper the price the easier it can be
Difficulty is increased because of the rate of bitcoin.
It surged and going higher and higher.
And when the the rate is so high, it attracts so many people to be miners to mine bitcoin.
It surged and going higher and higher.
And when the the rate is so high, it attracts so many people to be miners to mine bitcoin.
why bitcoin mining difficulty is increased?
I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
Yes. The difficulty will probably increase until the revenue from your mining is less than the cost of your electricity.
This is due to the design criteria of bitcoin. It is designed in such a way as to keep up a certain limit on daily block mining. Bitcoin network is so desgined to solve around 144 blocks on daily basis. You see more sharks in the pond finding fishes would mean difficulty for each shark. So as people are coming up with new solutions to mine bitcoin. The difficult or the hash rate is increasing to mantain the average.
The difficulty increase is a function of the global hash rate that's mining the coins.
why bitcoin mining difficulty is increased?
I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
I just want to knows that why the bitcoin mining difficulty level is increased and i am afraid of the life of future miners.Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.
Yes. The difficulty will probably increase until the revenue from your mining is less than the cost of your electricity.
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