BT Mining Difficulty

[bitsnbits]

Is there a chart that shows historically the difficulty level increase of BTC mining? Or is there any comments on how often and by how much mining will decrease? 5% per 3 months, or 1% per 2 weeks.. or etc??

I'm buying rigs and want to know more about it.

thanks

[ranochigo]

Here: https://btc.com/stats/diff.

The difficulty is always dependent on the time between the blocks and that is affected by the hashrate. The hashrate is in turn affected by a ton of factors; Bitcoin Price, Natural Disasters, Government regulations, etc. You cannot predict future difficulty accurately and the difficulty estimation is done with the data from the current epoch and can differ quite significantly by the time the difficulty changes.

[bitsnbits]

ok, thanks for the explanation and that link!

[masphie]

it all depends on the hashrate of your rig. if all is normal, the results of mining bitcoin depend on the price of bitcoin at that time.
My advice, if the RIG that you buy only has mediocre hashrate, it's better not to mine bitcoin ..... it might be more profitable if mining Ethereum

[tranthidung]

OP can check the Bitcoin Difficulty Estimator with Cryptothis.com.

Mining is not a story of 2 weeks or one month and you have to prepare enough fund to pay power bills when Bitcoin market is bearish. If you want to hold your bitcoin from mining rewards and wait for higher price, you have to pay from your pocket. Not all miners can do this.

[BitMaxz]

Check these below for another option from the above posts.

Bitcoin Difficulty and historical chart.
- https://ycharts.com/indicators/bitcoin_average_difficulty

Also, check this one below as my best tool for analysis

- https://charts.coinmetrics.io/network-data/

Just add the BTC as an asset then the metrics add difficulty. You can also add more metrics like price and total fees.

[bitsnbits]

Is it better to join mining pools versus standalone?

[stompix]

Or is there any comments on how often and by how much mining will decrease? 5% per 3 months, or 1% per 2 weeks.. or etc??

Nobody knows how much the hashrate will go up, the only way you could at least estimate this is by gathering insider info from Bitmain and MicroBT and know how much gear they ship when, otherwise there is no way of knowing.

Is it better to join mining pools versus standalone?

Unless you plan on buying 1000 miners and up, which I will assume is not the case, the chances of you finding a block are so slim you might not mine a block before the gear starts breaking down, so pool mining is your only option.

I'm buying rigs and want to know more about it.

Just to make sure, before you buy, do complete research on that seller and it's a pretty good idea to ask about them on this forum before you send them any money. Currently, almost every damn piece of gear is sold out on the legit website and the only ones with gear on stock are scammers. I'm encountering tens of cases of people getting scammed a week, don't be one of them!

[ranochigo]

Is it better to join mining pools versus standalone?

In the long run, both mining in a pool and solo mine will have the same expected revenue, minus the fees However, there is no point doing solo mining unless you're doing lottery mining (mining with the hopes that you would hit a block without expending too much on the cost of running it) or if you're able to withstand the long periods of going without any revenue if your mining farm is very small. Generally, the difference between the two of them is just the ~1-2% additional cost with a pool but with the added benefit of not hassling with setting up and maintaining your own server and improving your payout frequency.

[mikeywith]

Unless you plan on buying 1000 miners and up, which I will assume is not the case, the chances of you finding a block are so slim you might not mine a block before the gear starts breaking down, so pool mining is your only option.

Even 1000 miners aren't good for solo mining, in fact not even 10 times that amount is "safe" for solo mining, and as the hash rate grows, you will face the risk of never finding a block for the lifespan of those gears, honestly, at this point, it's safe to assume that nobody can solo mine, at least, not those who have to ask the question, there are probably a few entities out there who are capable of solo mining ( you can probably list them in less minute or so) but we all know those won't be asking such a question online.

[stompix]

Even 1000 miners aren't good for solo mining, in fact not even 10 times that amount is "safe" for solo mining, and as the hash rate grows, you will face the risk of never finding a block for the lifespan of those gears,

Yeah, should have used "numbering thousands" than exactly one thousand.
But he would have had a chance, not a profitable one but he might be lucky enough to find some blocks assuming he can get 1k brand new s19pro, which we know we both know he won't be able to  

but we all know those won't be asking such a question online.

With newbies that ask this kind of question I'm more concerned they will fall for some fake gear scam rather than wasting one month of electricity solo mining, in the end, they will see they are not making a penny and they will ask for help, for scams, we know how it ends.
And OP jumped from mining bitcoin to purchasing A11 Pro, getting a bad wibe from this.

[mikeywith]

But he would have had a chance, not a profitable one but he might be lucky enough to find some blocks assuming he can get 1k brand new s19pro

Yup actually 1k S19 pro will find a block every 10 days on average and will cost a modest 13M $ in cash.

With newbies that ask this kind of question I'm more concerned they will fall for some fake gear scam rather than wasting one month of electricity solo mining

Honestly, the amount of scam in this industry is beyond imagination, I just saw someone selling T9s claiming they can do 14TH, and he wanted the price of S9 for those gears, I spend a few minutes trying to explain to him that his gear is 9TH and can't do 14TH with air cooling, hardly doable even with liquid cooling, but he insisted that 14th = 14th, the crazy part is some people were defending him telling me the same thing.

Based on that logic I can sell my S9s at the price of S15 since they can "in theory" do 20TH, it's very sad that some people are too lazy to search the internet when it's free, and takes 2 minutes to know the facts.