UPDATE

[kaselit]

UPDATE

[pj40]

Hi, what does depend the mining difficult? By the number of people that are mining?

In a future, when mining will end, or will be less earning... Does the actual big mining farm close giving to citizien back the power of mining?

In simple terms, mining difficulty is based on the frequency of blocks being found on the network.  The desired generation of blocks is every 10 minutes.  If blocks are being found faster than 10 minutes on the average when the next change occurs, difficulty goes up.  If blocks are being found slower than 10 minutes on average, the difficulty will go down.

Due to the cheap costs of electricity for the large mining farms mostly in China, they'll win over the smaller miners and will probably take over when the BTC reward drops to 12.5.

[FaucetWorld]

I google it and i found this:

"The best way to think about Bitcoin difficulty is to view it as the maximum amount of computing power it will take to find a particular block reward. The difficulty number is what helps keep the Bitcoin block time at around ten minutes. As more hashing power is added to the network from different computers around the world, the difficulty of finding a block needs to be adjusted accordingly. If there was no mechanism for regulating the amount of hashing power it will take to mine a particular block, then it would be impossible to effectively secure the blockchain."

I think it is not bad explanation


About mining farms after last block - Bitcoin is designed to always give miners an incentive to keep mining and secure the network, so probably most of farms will be working to protect network.

[silverleafy]

Hi, what does depend the mining difficult? By the number of people that are mining?

The difficulty is dependent on the time it took to find 2016 blocks. Ideally, it should take 20160 minutes (10 minutes on average between each block; Exactly 2 weeks) to find 2016 blocks. After 2016 blocks, the difficulty is adjusted in order to keep the time between blocks to be 10 minutes on average. It changes as more or less hash power is added and removed from the network.

In a future, when mining will end, or will be less earning... Does the actual big mining farm close giving to citizien back the power of mining?

Mining will never end, the block reward will though. Around 2140, if blocks are generated according to the plan, then the block reward will become zero. By this time (before in fact) there should be enough transactions on the Bitcoin network to make up for the block subsidy so miners will still be making money.

[el kaka22]

Hi, what does depend the mining difficult? By the number of people that are mining?

In a future, when mining will end, or will be less earning... Does the actual big mining farm close giving to citizien back the power of mining?

First, the difficulty depends on the average hashrate for the last 2016 blocks, and it will adjust it so that a block will generate in 10 minutes.

Second, it is stiill unknown. If the transaction fees is significant and mining farms can make a profit, they stay. If not, then most of then will gone. There's someone willing to loss, though.

[iram66680]

Mining difficulty depends on the frequency of the last 2016blocks. It tries to adjust to get a 10 minute block by increasing the difficulty. The reason for chosing such a large range is because the hashrate can't be accurately measured and varience affect the block time. By chosing a large sample size, it is more accurate. Mining will never stop. If it does, Bitcoin will cease to exist. The mining reward will halve approximately every 4 years, from 50BTC to 25BTC and so on till the reward becomes very small. The maximum amount of Bitcoin is much less than 21 million though.

[Amph]

it depend on the hash, more hash = more difficulty, and no if in the future if big mining farm close to restart again the whole thing from casual miners, it mean that bitcoin failed if still alive

and mining will not end...

[Mickeyb]

In a future, when mining will end, or will be less earning... Does the actual big mining farm close giving to citizien back the power of mining?

I don't think that ordinary citizens will ever get their hands back on mining! Mining is now reserved for the big mining farms. In the future it will maybe done by the big data centers which is pretty much the same as mining farms.

That's it!

[makcik]

Mining can seem difficult for a person who has never done it. But, mining depends on some factors. You just need some patience and some investment to start mining.
Here are the factors :
(1) Proper hardware with proper capability-- you won't get the best out of mining if your hardware isn't as powerful as it should be.
(2) Make sure you choose a perfect place suitable according to your needs.
(3) You have a proper wallet set up for your earnings.

[zodiac3011]

it depends much on the average hashrate of 2016 blocks and the time that 2016 blocks are mined then the difficulty will be readjust so it will keep the block found every 10 minutes

[Possum577]

Is cloud mining worth it?

If so, at what hash rates - m/hs? g/hs? t/hs?

How much does one have to invest to see a reasonable return?

[Fraxinus]

When blocks are mined,Hash rate increases and the mining difficulty is based on the hash rates.That's it basically.

[ranochigo]

When blocks are mined,Hash rate increases and the mining difficulty is based on the hash rates.That's it basically.

Blocks can be mined even without hashrate increases. Mining difficulty is indirectly based on hashrates, it is directly based on the time between blocks and attempts to adjust it to fit it to 10 minute intervals.

[avw1982]

it depends much on the average hashrate of 2016 blocks and the time that 2016 blocks are mined then the difficulty will be readjust so it will keep the block found every 10 minutes

Yup its depends upon the Hashrates of blocks what should we do for change in bitcoin mining level and If we wanna increase our mining rate. what we can do further. could you share tactics to others bro.

[BeginToMine]

Next year there will be a halving on block again, might be an interesting time.

[zodiac3011]

it depends much on the average hashrate of 2016 blocks and the time that 2016 blocks are mined then the difficulty will be readjust so it will keep the block found every 10 minutes

Yup its depends upon the Hashrates of blocks what should we do for change in bitcoin mining level and If we wanna increase our mining rate. what we can do further. could you share tactics to others bro.

I think that the mining rate now depends heavily on bitcoin's price and the adoption of bitcoin. We all know there has a been a pump in bitcoin price and everyone immediately turn on their gears and start mining. What should we do and what can we do is at least to stabilize the bitcoin price as well as gradually push the price up not the bubble way and encourage everyone to use bitcoin

[Possum577]

Hi, what does depend the mining difficult? By the number of people that are mining?

In a future, when mining will end, or will be less earning... Does the actual big mining farm close giving to citizien back the power of mining?

It's possible that mining may go back to the "citizen" as you call it, at the near ends of the available coins to mine...but only if the price appreciates such that mining bits has a worthwhile value to people.

[jinguer]

It is too difficult. It is hard to make money.

[zodiac3011]

Hi, what does depend the mining difficult? By the number of people that are mining?

In a future, when mining will end, or will be less earning... Does the actual big mining farm close giving to citizien back the power of mining?

It's possible that mining may go back to the "citizen" as you call it, at the near ends of the available coins to mine...but only if the price appreciates such that mining bits has a worthwhile value to people.

It is always the big question whether what happens after all the coins muned . I think that by then it will still be no citizen game because miners gonna live with TX fee as the coin becomes rare enough