why bitcoin mining difficulty is increased?

[Shendelzare_Silkwood-]

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

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[peter0093]

the bitcoin mining will be increase due to the increasing difficulty increase because of the bitcoin will be coming a popular coin.

[donDrey]

The harder it is to mine bitcoin, the more valuable it becomes. Just like gold, it's not easy to come by.

[desmodiAN]

>>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)

[larson0815]

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.

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.

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!

[overcliff433]

Because more miners joined the network.

[decryptionary]

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.

[Dani33]

I think because the people that mining now are more than before, the volume of electricity can be ever more high and the hardware are so expensive, at the end i don't if it is still convenient

[Andre_Goldman]

because 7 nm Chips ?

Japanese Company Will Launch New Bitcoin Mining Operation With 7 nm Chips

http://www.nasdaq.com/article/japanese-company-will-launch-new-bitcoin-mining-operation-with-7-nm-chips-cm844523

[DRAWDE_3691]

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 was due to the number of miners that are increasing very fast. Due to the numbers, the difficulty therefore increased also..

[jeeri]

It is similar to simple Demand-Supply formula. When there is a demand for setting up mining the difficulty should adjust to a higher value.
as one of our members mentioned, it is a specification in Bitcoin code itself.
If the difficulty is not increasing with increase in the number of miners, there is a threat of moving towards centralization. To address this problem in another way, some other altcoins are moving from PoW to PoS which indirectly suppressing the efforts put in mining and eventually calculation power, electricity.

[peter0093]

it is very difficult to mining the bitcoin but in future it is very difficult

[mybtcasset]

every year bitcoin difficulty will increase as the demand and price increase mining new bitcoin will become difficult as the algorithm is difficult to solve

[Babylon]

Bitcoin is a resource. And as we all studied in our economy classes and also in some of our marketing and business classes, if a source of money or the resource that can equate to money will suddenly gain popularity, Scarcity and competition are always bound to happen. It is the inevitable and that is what is happening as of now in Bitcoin Mining and other forms of well known cryptocurrency!

[dxbcoin]

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... 

I see...thanks for opening my mind

[shensu]

The cost of electricity versus the reward of mining has game theory behind it and is self-balancing.

[mensha]

Difficulty should increase with the time for maintaining security and trustworthiness of bitcoin architecture. Otherwise with the development of high performance computers/ servers, someone could lie to the blockchain network and may create un-legitimate transactions and blocks. For preventing this difficulty should increase to maintain block creating time to 10 min.

[Rightchoice]

I believe things are getting killer for small users. Right now, the fees is simply unreal for sending any amount, so it is because of minors, as they are getting higher rewards.

I still believe there is so much into mining, but obviously a lot of money is required to start up and more importantly to be aware of the happening around Bitcoin World and how it all works!

[dx_twisted]

As long as the supply of Bitcoins continue to decrease, more coins will circulate around the network. Which makes the difficulty even higher. What makes me really bother is that one day, all 21M coins have already been mined. I was wondering what might happen next. We need miners to produce blocks which is needed for confirmation of BTC transactions. Will they continue for the sake of many? Or is there an alternative way which might make things better? I just hope that when that day comes, BTC will stay on top and won't be erased in the history of cryptocurrencies.

[odolvlobo]

its is just because of the number of bitcoins decreases and the amount of miners keeps increasing

A decreasing block reward indirectly causes the difficulty to decrease, not increase.