Bitcoin Forum
November 22, 2017, 10:25:23 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: 1 2 3 [All]
  Print  
Author Topic: why bitcoin mining difficulty is increased?  (Read 2663 times)
Burks
Sr. Member
****
Offline Offline

Activity: 337


View Profile
November 01, 2017, 01:12:56 PM
 #1

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.
1511389523
Hero Member
*
Offline Offline

Posts: 1511389523

View Profile Personal Message (Offline)

Ignore
1511389523
Reply with quote  #2

1511389523
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511389523
Hero Member
*
Offline Offline

Posts: 1511389523

View Profile Personal Message (Offline)

Ignore
1511389523
Reply with quote  #2

1511389523
Report to moderator
VRobb
Hero Member
*****
Offline Offline

Activity: 686


I'm in BTC XTC


View Profile
November 01, 2017, 01:16:57 PM
 #2

It's part of the Bitcoin specification.  You don't already know this???

I don't believe in superstition because it's bad luck
In Hotels, I prefer the 13thF1oor6CAwyzyxXPNnRvu3nhhYeqZdc
These aren't the Droids you're looking for: S5 & S7 (Sold), R4B2, R4B4 (RIP), & S9-13.5
bigdude
Sr. Member
****
Offline Offline

Activity: 462



View Profile
November 01, 2017, 01:39:04 PM
 #3

If it difficulty isn't inceased so now we should be flood in the BTC and it price will not up and hot like this.
Welcome new ATH BTC price $6530

|



        ▄▄
      ▄████▄
    ▄████████▄
  ▄████████████▄
▄████████████████▄
██████████████████
██████████████████
██████████████████
██████████████████
██████████████████
██████████████████
██████████████████
▀████████████████▀
  ▀████████████▀
    ▀████████▀
      ▀████▀
        ▀
                                    ▄████████████████████
                                  ▄████                ██
                                ▄██▀ ██                ██
                              ▄██▀   ██                ██
                            ▄██▀     ██                ██
        ▄████████████████████▀       ██                ██
      ▄██▀              ▄██▀         ██                ██
    ▄██▀              ▄██▀           ██                ██
  ▄██▀              ▄██▀             ██                ██
▄██▀              ▄██▀               ██                ██
████████████████████▀                ██                ██
██                ██                 ████████████████████
██                ██               ▄██▀               ▄██
██                ██             ▄██▀               ▄██▀
██                ██           ▄██▀               ▄██▀
██                ██         ▄██▀               ▄██▀
██                ██       ▄█████████████████████▀
██                ██     ▄██▀
██                ██   ▄██▀
██                ██ ▄██▀
██                ████▀
████████████████████▀
aI
gang



        ▄▄
      ▄████▄
    ▄████████▄
  ▄████████████▄
▄████████████████▄
██████████████████
██████████████████
██████████████████
██████████████████
██████████████████
██████████████████
██████████████████
▀████████████████▀
  ▀████████████▀
    ▀████████▀
      ▀████▀
        ▀
  
|
truenortheast
Newbie
*
Offline Offline

Activity: 5


View Profile
November 01, 2017, 01:41:45 PM
 #4

This happens all the time. The difficulty goes up, the price goes up. The price goes up, the difficulty goes up. Hashrate goes up, the price and difficulty both go up.

You don't mine to earn dollars, you mine them to earn bitcoin. Don't pay attention to roi calculators. Just know that you have a machine that makes btc for you and you got it at a set price. You run that machine at a set price, too, but the bitcoin price keeps going up.  Don't worry about what the coins you mine today are worth today. Think about what they might be worth next year.
akram143
Member
**
Offline Offline

Activity: 70


View Profile
November 01, 2017, 01:59:30 PM
 #5

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 think it is caused due to the number of bitcoins have to be decreased day by day,so the rewards are also getting thinner.But we don't have to worry about the electricity because the price of bitcoin is keeps increasing.

NotFuzzyWarm
Legendary
*
Offline Offline

Activity: 1274


Evil beware: We have waffles!


View Profile
November 01, 2017, 02:29:40 PM
 #6

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.
Perhaps try reading up on what BTC mining is all about...  Roll Eyes There is a Beginners & Help section in the Forum just for folks starting out. I highly suggest you browse through it and post utterly basic queries like this one there...

BTC has value because of the work required to process the transactions.

The BTC network strives to keep an average time of 10 minutes per-block found, it does this by adjusting difficulty every 2 weeks or so.

If if more/faster miners go online and blocks are found too fast, diff goes up to increase the effort which increases time needed per-block to bring it back to the target of 10-min average. If less miners are online and block are too slow then diff goes down to hold the 10-min average.

Yes as time goes by older, less efficient miners become less profitable and eventually will eat more than they earn so as tech advances you need to upgrade. So what? That's how Life goes in pretty much any business.

-Joshua Zipkin aka Joshua Alexander leaked AMT A1 miner skype chats http://bit.ly/1Qjt6lj
-For bitcoin to succeed the community must police itself.
-Support Sidehacks miner development. Donations to:   1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
bitcoinmining
Sr. Member
****
Offline Offline

Activity: 382



View Profile
November 01, 2017, 03:51:29 PM
 #7

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.

Welcome to the community Smiley You're a little bit late to discover some basic stuff, but it doesn't matter. If you wanna be miner in the future you should know there are lots of altcoins to mine and gain money, BTC is not the only option. And there is a rule which works proper in every single economic situation: 'Always early comers win.'  Grin
mkcjeewantha
Newbie
*
Offline Offline

Activity: 16

final year medical student, who likes C. currency


View Profile
November 01, 2017, 04:27:39 PM
 #8

hi,
it happens not only to BTC, but to all coins. I mean when the value of a coin increases the difficulty of mining increases too...  Smiley

http://sociali.io/ref/W9955825
pafolop
Newbie
*
Offline Offline

Activity: 28


View Profile
November 01, 2017, 08:09:06 PM
 #9

hi,
it happens not only to BTC, but to all coins. I mean when the value of a coin increases the difficulty of mining increases too...  Smiley


Hmmm, that means the more the increase in the value, the more the increase in mining difficulty
NotFuzzyWarm
Legendary
*
Offline Offline

Activity: 1274


Evil beware: We have waffles!


View Profile
November 01, 2017, 09:04:49 PM
 #10

Only indirectly.
What actually happens is that as a coins value increases more people are going to mine it. More miners working means blocks are found faster and that in-turn is what causes dif to rise as the blockchain networks adjust to keep their target time.

-Joshua Zipkin aka Joshua Alexander leaked AMT A1 miner skype chats http://bit.ly/1Qjt6lj
-For bitcoin to succeed the community must police itself.
-Support Sidehacks miner development. Donations to:   1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
tigervn
Member
**
Offline Offline

Activity: 98


View Profile
November 01, 2017, 09:49:11 PM
 #11

Because the number of bitcoins is very small, people want to dig a bitcoin a lot. As the demand for bitcoin is increasing, the difficulty of digging bitcoins will be greater.

Website | Whitepaper
■   ■   ■   ■   ▄   ▀   ▄     ICO ▲ Nov 18th, 2017     ▄   ▀   ▄   ■   ■   ■   ■
ANN Thread      ◆      Twitter      ◆      Telegram
os2sam
Legendary
*
Offline Offline

Activity: 2282


Think for yourself


View Profile
November 01, 2017, 09:56:46 PM
 #12

why bitcoin mining difficulty is increased?

Bitcoin difficulty is adjusted every 2,016 blocks to attain an average block find rate of 10 minutes.  Usually it adjusts up but sometimes down as well, depending on how fast blocks are found.

A: Because it messes up the order in which people normally read text.
Q: Why is top-posting such a bad thing?
A: Top-posting.
Q: What is the most annoying thing on usenet and in e-mail?
AmXProX
Sr. Member
****
Offline Offline

Activity: 280


Mathematically calibrated ICO economics


View Profile
November 02, 2017, 12:16:30 AM
 #13

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.


Main reason why the difficulty is increasing is because on how it was programmed to be mined.

There is a total of 21 million bitcoin to be mined from its inception and on its first four years 10.5 million is scheduled to be mined, and scheduled to decrease by half every 4 years until the last coin is mined. So if before a block is consists of 50 coins then 25 then as of now a block is only consists of 12.5 coins and will be decreased by half again.

To answer your question about its efficiency when it comes to electricity. During the time that a block is consists of 50 coin a coin is only priced for less than $100 and now price is $6000 for a block with 12.5 coin. Since the price per coin is increasing mining is still profitable.


🔒 SafeCrypt.io  █████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
█████
Silverstone1111
Jr. Member
*
Offline Offline

Activity: 55


View Profile
November 02, 2017, 06:08:27 AM
 #14

It is the way Bitcoin is meant to be. The production of bitcoin in halved every year. That increases the difficulty and the cost of mining. That is how system works and why the price of bitcoin keeps on increasing.
immunity
Newbie
*
Offline Offline

Activity: 28


View Profile
November 02, 2017, 06:44:48 AM
 #15

This happens all the time. The difficulty goes up, the price goes up. The price goes up, the difficulty goes up. Hashrate goes up, the price and difficulty both go up.

You don't mine to earn dollars, you mine them to earn bitcoin. Don't pay attention to roi calculators. Just know that you have a machine that makes btc for you and you got it at a set price. You run that machine at a set price, too, but the bitcoin price keeps going up.  Don't worry about what the coins you mine today are worth today. Think about what they might be worth next year.
Sallysakky
Jr. Member
*
Offline Offline

Activity: 35


View Profile
November 02, 2017, 08:59:03 AM
 #16

why bitcoin mining difficulty is increased?

Maybe in future the miners electricity will cost more than our rewards because of the difficulty level.

If difficulty increase that the price will increase too.

Let's start with a bang
sunny1356
Jr. Member
*
Offline Offline

Activity: 42


View Profile
November 02, 2017, 09:29:52 AM
 #17

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.
Could there possibly be a software that can make mining easier.
NotFuzzyWarm
Legendary
*
Offline Offline

Activity: 1274


Evil beware: We have waffles!


View Profile
November 02, 2017, 01:45:35 PM
 #18

Could there possibly be a software that can make mining easier.
In other words, you are asking, "is there a way to cheat?"

Again, part of what makes a coin have value is the effort required to get it. Crypto coin algorithms are created to be exceedingly computationally and/or hardware intensive for that reason. If someone want to mine a coin they MUST put some effort into it by getting and running the hardware needed. It should not be a surprise that coins that have high value like BTC require expensive miners. Find a flaw in the code that can be exploited to make a coin easier to mine and:
a. you would for a time destroy the value of the coin
b. the blockchain networks would eventually cancel the effect of cheating by adjusting diff higher

TANSTAAFL

-Joshua Zipkin aka Joshua Alexander leaked AMT A1 miner skype chats http://bit.ly/1Qjt6lj
-For bitcoin to succeed the community must police itself.
-Support Sidehacks miner development. Donations to:   1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
dothebeats
Legendary
*
Offline Offline

Activity: 1288


Hire me as your Morty!


View Profile WWW
November 02, 2017, 02:29:58 PM
 #19

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.
Could there possibly be a software that can make mining easier.

No. If there's such then block retarget time and difficulty changes would be completely useless. Also, with a currency that can be gamed, bitcoin would not reach this far in terms of value knowing that acquiring it is easy and need not any hard work. ASICs and dedicated miners would be useless resulting into a sloppy economy and no market for mining overall.

monkeydominicorobin
Member
**
Offline Offline

Activity: 84

✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪


View Profile
November 03, 2017, 08:00:48 AM
 #20

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.

It is being done to stabilize the value of Bitcoin. If it is not placed in the system. Anybody could mine Bitcoins.

odolvlobo
Legendary
*
Offline Offline

Activity: 1960



View Profile
November 03, 2017, 08:39:11 AM
 #21

So many wrong answers and just reiterating for anyone tha missed it.

The purpose of the difficulty value is to keep the average block time at 10 minutes, regardless of how many or how few miners there are.

If the difficulty increases, it is because there are more miners (or miners add more equipment).

The production of bitcoin in halved every year. That increases the difficulty and the cost of mining. That is how system works and why the price of bitcoin keeps on increasing.

The halving does not increase the difficulty or the cost of mining, nor does it cause the price to increase (at least not directly).


Buy bitcoins with cash from somebody near you: LocalBitcoins
Join an anti-signature campaign: DannyHamilton's ignore list
jekjekman
Sr. Member
****
Offline Offline

Activity: 364


View Profile
November 04, 2017, 02:39:47 AM
 #22

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.

Difficulty level is increasing because of the number of miners and mining equipment that are solving the blocks. Since the rate of the blocks is 10 mins per block if more miners are mining at the same time then they are going to compete with each other for that same block. If the blocks are solved slower then the next difficulty might go low.

Since the price of bitcoin keeps on going high then mining would still be profitable for now because the increase can compensate the increase in difficulty level.

maianh09
Jr. Member
*
Offline Offline

Activity: 56


View Profile
November 04, 2017, 08:22:17 AM
 #23

I think when bitcoin increases and not only bitcoin but all altcoin price increases then its exploitation will decrease significantly as if exploiting too much when price increases will affect the market and its price will decrease. At that time, the amount of coin supplied to the market would satisfy the buyer, leading to a decrease in its value
KarenTalk
Newbie
*
Offline Offline

Activity: 12


View Profile
November 08, 2017, 10:28:32 AM
 #24

I think when bitcoin increases and not only bitcoin but all altcoin price increases then its exploitation will decrease significantly as if exploiting too much when price increases will affect the market and its price will decrease. At that time, the amount of coin supplied to the market would satisfy the buyer, leading to a decrease in its value

Because of the number of bitcoins decreases , amount of miners keeps increasing.
A.P.
Newbie
*
Offline Offline

Activity: 12


View Profile
November 08, 2017, 03:02:55 PM
 #25

Thank You for the info!
Gargo
Sr. Member
****
Offline Offline

Activity: 276



View Profile
November 08, 2017, 06:56:04 PM
 #26

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.


In my opinion, digging BTC is a difficult and tedious task. I would never do it despite the experience I had. I prefer to hold more coins and wait until they multiply themselves. Let's leave for good and experienced diggers.

rynah011991
Newbie
*
Offline Offline

Activity: 28


View Profile
November 10, 2017, 07:46:47 AM
 #27

Mining difficulty upward it's because related the number of people mining a supply and demand kind of thing and the size of the blockchain, an intentional system design.
yulionoo
Sr. Member
****
Offline Offline

Activity: 252



View Profile
November 10, 2017, 10:57:09 PM
 #28

i dont know about mining but if i can say something, because mining is simple ways to get bitcoin. you just buy what you need for mine, great spec to do that, give order for your computer and it will run. you just wait for your result. so, maybe mining make difficult because of it.

SPECTRE                ▄▄███▄▄
            ▄▄███▀▀▀▀▀███▄▄
▄▄      ▄▄███▀▀ ▄▄███▄▄ ▀▀███▄▄      ▄▄
████▄▄  ▀▀▀ ▄▄███████████▄▄ ▀▀▀  ▄▄████
  ▀▀████▄    ▀▀█████████▀▀    ▄████▀▀
 ██▄▄ ▀██ █▄▄    ▀▀▀▀▀    ▄▄█ ██▀ ▄▄██
 ▀▀███ ██ █████▄       ▄█████ ██ ███▀▀
      ██ ███████▄   ▄███████ ██
       ██ ████████   ████████ ██
       ██▄▄ ▀▀████   ████▀▀ ▄▄██
        ▀▀███▄▄ ▀▀   ▀▀ ▄▄███▀▀
            ▀▀███▄▄▄▄▄███▀▀
                ▀▀███▀▀
             │
     │      ███
     │      ███
    │     ███
███  │     ███
███ ███ ███ ███
███ ███ ███ ███
███ ███ ███ ███
███ ███ ███ ███
███ ███     │
███ ███     │
    │
 
▬▬     WHITEPAPER    ▬▬
FACEBOOK     TELEGRAM
TWITTER     SLACK     MEDIUM
.
PRE-SALE.
PUBLIC SALE.
Ypi79890
Jr. Member
*
Offline Offline

Activity: 42


View Profile
November 11, 2017, 05:55:49 AM
 #29

When value of coin is raising the dificulty of mining is increasing too. That's naturaly because code is becoming more difficult to mine
Jessica2009
Jr. Member
*
Offline Offline

Activity: 42


View Profile
November 11, 2017, 03:22:20 PM
 #30

 Day by day people are getting aware of bitcoin mining so there is chances for more people to get involved in this field . The interest of this modern generational group of people to make more money for their pocket more than they earn and have the knowledge with computer usage ,will be in front of the computer. The usage of electricity and network will be slower these all may increase the difficulty in bitcoin mining.
grifter1870
Member
**
Offline Offline

Activity: 112

Stake Moderator @Stake.com


View Profile WWW
November 11, 2017, 03:37:39 PM
 #31

if you only doing this mining, all our bitcoins now in market will became low?
liseff3
Full Member
***
Offline Offline

Activity: 224



View Profile
November 11, 2017, 09:58:03 PM
 #32

The more members who miner, the more intense the competition. computers are very good at solving math problems, so bitcoin network deliberately makes the solution more difficult.
Otherwise, all bitcoins will be depleted mined in just a few minutes. This is why there are a lot of special hardware in the market that are specifically aimed at bitcoin mining.

wandiwanda
Newbie
*
Offline Offline

Activity: 8


View Profile
November 12, 2017, 09:12:35 AM
 #33

I also want to save it. which makes it difficult to determine if more users are exploiting. So many mining users are causing trouble.
syberwolfen
Sr. Member
****
Offline Offline

Activity: 331



View Profile
November 12, 2017, 02:24:31 PM
 #34

The more members who miner, the more intense the competition. computers are very good at solving math problems, so bitcoin network deliberately makes the solution more difficult.
Otherwise, all bitcoins will be depleted mined in just a few minutes. This is why there are a lot of special hardware in the market that are specifically aimed at bitcoin mining.


Yes some inexperienced miners who feels they can become rich overnight are causing more damage.

maxamus
Sr. Member
****
Offline Offline

Activity: 322


View Profile
November 12, 2017, 03:42:16 PM
 #35

if you only doing this mining, all our bitcoins now in market will became low?

Nailed it mining is worth only if limited miners are there and if they work for betterment of bitcoin community and if everyone starts mining then obviously bitcoin's value will drop and there will be equal number of miners as the bitcoin holders which makes no sense.

   
▄████▄       
██████       
▀████▀       
▀██████      ▄▄▄▄▄▄▄▄▄▄▄▄   
▄▄█████  ▄██████████████████▄
▄██████▀██  ████████████████████
▄█████▀    ▀  ████████████████████
▄█████▀         ███ ████████████ ███
██████▀          ███ ████████████ ███
███████           ███ ████████████ ███

▄████▄                  ███████   
██████                 ▄██████     
▀████▀                ▄█████▀     
▄▄▄▄▄▄▄▄▄▄▄▄      ▄    ▄█████▀       
▄██████████████████▄  ██▄ █████▀         
████████████████████  ██████▀▀           
████████████████████  ██████▄             
███ ████████████ ███                     
███ ████████████ ███                     
███ ████████████ ███                       
  [    |    ████████████████████████
████████████████████████
███            ▀████████
███  ███████  ▄  ▀██████
███           ██▄  ▀████
███  ███████  ████▄  ███
███                  ███
███  ██████████████  ███
███                  ███
███  ██████████████  ███
███                  ███
████████████████████████
████████████████████████
  ] 
FACEBOOK  )   (  TWITTER  )
  SUBSCRIBE NOW!!! 
INSTAGRAM  )  (  LINKEDIN  )
micheal wang
Newbie
*
Offline Offline

Activity: 24


View Profile
November 13, 2017, 02:48:48 PM
 #36

if not mistaken perhaps because of unclear environmental regulations and rapid changes in policy.

dutchkay
Member
**
Offline Offline

Activity: 91


View Profile
November 13, 2017, 03:52:38 PM
 #37

Mining difficulty increase in bitcoin is a normal thing. The blockchain technology is designed that way to adapt when there is more miners.

Shenzou
Sr. Member
****
Offline Offline

Activity: 392



View Profile
November 13, 2017, 05:55:16 PM
 #38

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.

It is being done to stabilize the value of Bitcoin. If it is not placed in the system. Anybody could mine Bitcoins.
Well the mining difficulty is always related to the amount of computing power that the bitcoin has , and as we all know in the recent months bitcoin has gained a huge popularity due to its hyge price increase which meant that it brought with it many people who want to get some profit from it and this created even more computing power than before, and so to ensure that the avrage block solution stays the same the mining difficulty has to be increased, otherwise the supply that we from bitcoin have will get depleted so quickly.

||▄▄▀▀▀▀▄            ▄▀▀▀▀▄▄
█▀▀▄   ▀▀▄      ▄▀▀   ▄███
█   █▀▄   ▀▀▄▄▀▀   ▄██████
█   █  ▀▀▄      ▄█████████
█   █     ▀▀▄▄██████▀▀████
█   █        ████▀  ▄▄████
█   █        █▀  ▄▄███████
█   █         ▄▄████▀▀████
█    ▀▄      ████▀  ▄▄████
 ▀▀▄   ▀▀▄   █▀  ▄█████▀▀
    ▀▀▄   ▀▀▄▄▄█████▀▀
       ▀▀▄   ████▀▀
          ▀▀▄█▀▀
▄▄▀▀▀▀▄            ▄▀▀▀▀▄▄
█▀▀▄   ▀▀▄      ▄▀▀   ▄███
█   █▀▄   ▀▀▄▄▀▀   ▄██████
█   █  ▀▀▄      ▄█████████
█   █     ▀▀▄▄██████▀▀████
█   █        ████▀  ▄▄████
█   █        █▀  ▄▄███████
█   █         ▄▄████▀▀████
█    ▀▄      ████▀  ▄▄████
 ▀▀▄   ▀▀▄   █▀  ▄█████▀▀
    ▀▀▄   ▀▀▄▄▄█████▀▀
       ▀▀▄   ████▀▀
          ▀▀▄█▀▀
[]|

Hero/Legendary
J. Cooper
Member
**
Offline Offline

Activity: 112


View Profile
November 13, 2017, 08:08:41 PM
 #39

It's part of the Bitcoin specification.  You don't already know this???
No. You would be extremely surprised how many people don't know this or partially understand difficulty. I think the number of people who enter the space and actually read up on the satoshi nakamoto whitepaper is becoming really really small. So no you shouldn't be surprised that people don't know about this.

So many wrong answers and just reiterating for anyone tha missed it.

The purpose of the difficulty value is to keep the average block time at 10 minutes, regardless of how many or how few miners there are.

If the difficulty increases, it is because there are more miners (or miners add more equipment).

The production of bitcoin in halved every year. That increases the difficulty and the cost of mining. That is how system works and why the price of bitcoin keeps on increasing.

The halving does not increase the difficulty or the cost of mining, nor does it cause the price to increase (at least not directly).



Your explanation of the difficulty is spot on. If more and more hashing power is added to the network the difficulty is naturally increased. And if the hashing power drops after a longer period of time, the difficulty corrects accordingly. It's basically to prevent too blocks being mined and thus releasing an unnecessary big amount of bitcoin if it were relatively easy to mine a block.
The halving of the block subsidy on the other hand is a bit off but that's just me. I think that the halving does have an (direct) influence on the price of bitcoin. Atleast in the long run. If every four years the block subsidy halves and let's say the demand doubles as well, wouldn't it be logical that in this case the price would go up as well.

odolvlobo
Legendary
*
Offline Offline

Activity: 1960



View Profile
November 13, 2017, 09:59:07 PM
 #40

he halving of the block subsidy on the other hand is a bit off but that's just me. I think that the halving does have an (direct) influence on the price of bitcoin. Atleast in the long run. If every four years the block subsidy halves and let's say the demand doubles as well, wouldn't it be logical that in this case the price would go up as well.

You are confusing "supply" with "production". Unlike other products, bitcoins are not consumed so the two terms are different. Even though the production of bitcoins goes down, the supply of bitcoins (both money supply and market supply) is always (generally) increasing. The halving just changes the rate of increase.

Buy bitcoins with cash from somebody near you: LocalBitcoins
Join an anti-signature campaign: DannyHamilton's ignore list
WUUEX79
Newbie
*
Offline Offline

Activity: 28


View Profile
November 14, 2017, 01:05:12 AM
 #41

The bitcoin mining difficulty has undergone another major change. It seems the difficulty continues to increase by a higher percentage over the past few months. This latest change represents mining more difficult, indicating a lot of new hashpower has come online over the past several weeks. It is unclear if this is the case.
We can only speculate as to what type of mining hardware is being deployed on a large scale all of a sudden.
eann014
Hero Member
*****
Offline Offline

Activity: 546


★Bitvest.io★ Play Plinko or Invest!


View Profile
November 14, 2017, 09:39:14 AM
 #42

This happens all the time. The difficulty goes up, the price goes up. The price goes up, the difficulty goes up. Hashrate goes up, the price and difficulty both go up.

You don't mine to earn dollars, you mine them to earn bitcoin. Don't pay attention to roi calculators. Just know that you have a machine that makes btc for you and you got it at a set price. You run that machine at a set price, too, but the bitcoin price keeps going up.  Don't worry about what the coins you mine today are worth today. Think about what they might be worth next year.
Well, i should agree to this. Because once we mine today it will not cost as like what it will be cost on the future, when mining, always think for the better future and think for the price of a bitcoin in the near future. If bitcoin price today is $6500 then think of that bitcoin price will increase up to $10k or more.



.
.BITVEST DICE.
HAS BEEN RELEASED!


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
youdacapt
Sr. Member
****
Offline Offline

Activity: 350


★Nitrogensports.eu★


View Profile
November 16, 2017, 07:18:51 AM
 #43

This happens all the time. The difficulty goes up, the price goes up. The price goes up, the difficulty goes up. Hashrate goes up, the price and difficulty both go up.

You don't mine to earn dollars, you mine them to earn bitcoin. Don't pay attention to roi calculators. Just know that you have a machine that makes btc for you and you got it at a set price. You run that machine at a set price, too, but the bitcoin price keeps going up.  Don't worry about what the coins you mine today are worth today. Think about what they might be worth next year.
Well, i should agree to this. Because once we mine today it will not cost as like what it will be cost on the future, when mining, always think for the better future and think for the price of a bitcoin in the near future. If bitcoin price today is $6500 then think of that bitcoin price will increase up to $10k or more.

I also do not always pay attention to ROI, as long as I can do the maintenance system then one year is not an important time to get the initial capital, the ever-changing difference with the harder blocks makes the system stronger, it will extend the mining time. What we need to consider is the system of care and regulation on a regular basis.


           █████████████████     ████████
          █████████████████     ████████
         █████████████████     ████████
        █████████████████     ████████
       ████████              ████████
      ████████              ████████
     ████████     ███████  ████████     ████████
    ████████     █████████████████     ████████
   ████████     █████████████████     ████████
  ████████     █████████████████     ████████
 ████████     █████████████████     ████████
████████     ████████  ███████     ████████
            ████████              ████████
           ████████              ████████
          ████████     █████████████████
         ████████     █████████████████
        ████████     █████████████████
       ████████     █████████████████
▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
▬▬ THE LARGEST & MOST TRUSTED ▬▬
.BITCOIN SPORTSBOOK
   ▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
             ▄▄▄▄▀▀▀▀▄
     ▄▄▄▄▀▀▀▀        ▀▄▄▄▄           
▄▀▀▀▀                 █   ▀▀▀▀▀▀▀▄▄
█                    ▀▄          █
 █   ▀▌     ██▄        █          █         
 ▀▄        ▐████▄       █        █
  █        ███████▄     ▀▄       █
   █      ▐████▄█████████████████████▄
   ▀▄     ███████▀                  ▀██
    █      ▀█████    ▄▄        ▄▄    ██
     █       ▀███   ████      ████   ██
     ▀▄        ██    ▀▀        ▀▀    ██
      █        ██        ▄██▄        ██
       █       ██        ▀██▀        ██
       ▀▄      ██    ▄▄        ▄▄    ██
        █      ██   ████      ████   ██
         █▄▄▄▄▀██    ▀▀        ▀▀    ██
               ██▄                  ▄██
                ▀████████████████████▀



    CASINO    DICE    POKER   
     ▬▬  24 hour Customer Support  ▬▬   
Dodoymabs
Member
**
Offline Offline

Activity: 98


View Profile
November 16, 2017, 12:49:15 PM
 #44

This happens all the time. The difficulty goes up, the price goes up. The price goes up, the difficulty goes up. Hashrate goes up, the price and difficulty both go up.

You don't mine to earn dollars, you mine them to earn bitcoin. Don't pay attention to roi calculators. Just know that you have a machine that makes btc for you and you got it at a set price. You run that machine at a set price, too, but the bitcoin price keeps going up.  Don't worry about what the coins you mine today are worth today. Think about what they might be worth next year.
Well, i should agree to this. Because once we mine today it will not cost as like what it will be cost on the future, when mining, always think for the better future and think for the price of a bitcoin in the near future. If bitcoin price today is $6500 then think of that bitcoin price will increase up to $10k or more.

I also do not always pay attention to ROI, as long as I can do the maintenance system then one year is not an important time to get the initial capital, the ever-changing difference with the harder blocks makes the system stronger, it will extend the mining time. What we need to consider is the system of care and regulation on a regular basis.

Bitcoin mining difficulty is periodically adjusted to ensure that block time stays at about 10 minutes. As more mining capability is brought online, difficulty will increase accordingly. Difficulty also increased because more miners are now mining bitcoin so the reward will get smaller and smaller.

Bonakid
Full Member
***
Offline Offline

Activity: 126



View Profile
November 18, 2017, 05:07:39 AM
 #45

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 difficulty is increased because of the current value of bitcoin, the transaction fee affected also due to flactuating of the price. Also continuous increasing of number of miner will make it to difficult to mine bitcoin.

analene
Newbie
*
Offline Offline

Activity: 22


View Profile
November 18, 2017, 01:21:16 PM
 #46

Difficulty is a measure of how difficult it is to find a hash below a given target. The Bitcoin network has a global block difficulty. Valid blocks must have a hash below this target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares.
Crypto_Sting
Newbie
*
Offline Offline

Activity: 14


View Profile
November 18, 2017, 02:20:08 PM
 #47


Earnings on bitcoin are becoming more popular, with every day more and more crypto currency appears on the market, it is necessary to be very vigilant and to choose for yourself an investment wisely.
SirLegendary
Newbie
*
Offline Offline

Activity: 10


View Profile
November 18, 2017, 06:31:15 PM
 #48

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.
odolvlobo
Legendary
*
Offline Offline

Activity: 1960



View Profile
November 19, 2017, 03:37:51 AM
 #49

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.

Yes. The difficulty will probably increase until the revenue from your mining is less than the cost of your electricity.

Buy bitcoins with cash from somebody near you: LocalBitcoins
Join an anti-signature campaign: DannyHamilton's ignore list
PrisonerOfLies
Newbie
*
Offline Offline

Activity: 14


View Profile
November 19, 2017, 04:03:09 AM
 #50

The difficulty increase is a function of the global hash rate that's mining the coins.
Virtual miner
Sr. Member
****
Offline Offline

Activity: 266


View Profile
November 20, 2017, 02:47:19 PM
 #51

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.
most-wanted
Jr. Member
*
Offline Offline

Activity: 37


View Profile
November 20, 2017, 03:06:54 PM
 #52

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.

Yes. The difficulty will probably increase until the revenue from your mining is less than the cost of your electricity.
Don't grab for the untwisted complex currencies such as Bitcoin or the etherium - there are hundreds of very simple to extract, but theoretically claimed, coins that can easily be mused even with simple equipment. Here, and stuff yourself quietly e-wallets and put it back in a box, and there you look and shoot, not in 2018 - so in 2019.
dissgo
Full Member
***
Offline Offline

Activity: 140


View Profile
November 20, 2017, 05:11:23 PM
 #53

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.

copoyes
Member
**
Offline Offline

Activity: 98


View Profile
November 20, 2017, 06:01:48 PM
 #54

because the higher the price the harder it is also to be obtained
the cheaper the price the easier it can be

Lanatsa
Sr. Member
****
Offline Offline

Activity: 368



View Profile
November 20, 2017, 08:15:16 PM
 #55

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.



                                         ▄
                 ▄▄████████▄▄         ▄▄██
 ▄▄           ▄██▀▀        ▀▀██▄    ▄███▀
 ▀███▄▄     ▄█▀                ▀█▄▄█████▀
  ▀██████▄▄█▀                ▄▄███████▀
   ▐█████████▄           ▄▄███████████
     ▀█████████▄▄      ▄█████████████
       ▀██████████    ███████████████
        ▐▀█████████  █████████████▀ ▐▌
        ▐▌ ▀▀██████ ▐███████████▀   ▐▌
        ▐▌      ▀██ ▐█████████▀     ▐▌
         █        ▀  ██████         █
         ▐█          ▐█████▄       █▌
          ▀█▄         ▀██████▄   ▄█▀
            ▀█▄         ▀█████▌▄█▀
              ▀██▄▄       ▀▄▄██▀
                ▀▀████████▀▀
T
.ANGEL TOKEN.
[]

                                         ▄
                 ▄▄████████▄▄         ▄▄██
 ▄▄           ▄██▀▀        ▀▀██▄    ▄█▀█▀
 ▀█▀█▄▄     ▄█▀                ▀█▄▄█  ▄█▀
  ▀█  ▀▀█▄▄█▀                ▄▄██░   █▀
   ▐▄▄  ░░░▀█▄           ▄▄█▀▀░░░   ▄█
     ▀█▄ ░░░▒▒█▄▄      ▄██▒▒▒▒▒░    █
       ▀▄▄ ░░▒▒▒▓█    ██▒▒▒▒▒▒░   ▄▄█
        ▐▀█▄░░▒▒▓██  █▓▒▒▒▒▒▒░  ▄█▀ ▐▌
        ▐▌ ▀▀█▒▓███░▐█▓▒▒▒▒░░ ▄█▀   ▐▌
        ▐▌      ▀██ ▐█▓▓▒▒▄▄▄█▀     ▐▌
         █        ▀  █▓█▀▀█         █
         ▐█          ▐▄▓░ █▄       █▌
          ▀█▄         ▀█▒░ ▀█▄   ▄█▀
            ▀█▄         ▀█▄▄▄█▌▄█▀
              ▀██▄▄       ▀▄▄██▀
                 ▀▀████████▀▀
PORN_coin
Member
**
Offline Offline

Activity: 84

X-Wall LTD development team


View Profile WWW
November 20, 2017, 08:16:12 PM
 #56

it's very simple the more the miners the more difficult the network

=)
aroweyen
Member
**
Offline Offline

Activity: 98

Aren't I great? I'm amazing myself all the time!


View Profile
November 21, 2017, 08:23:29 AM
 #57

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.

hacker1001101001
Member
**
Offline Offline

Activity: 112


View Profile
November 21, 2017, 01:05:11 PM
 #58

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.

cipher-x_09
Member
**
Offline Offline

Activity: 84


View Profile
November 21, 2017, 02:21:00 PM
 #59

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.

Pages: 1 2 3 [All]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!