The difficulty of mining bitcoin.

[u005c 30]

I totally agree with you. Bitcoin is the most known cryptocurrency so it is logical that the competition is real. For instance, as difficulty and cost have increased, more and more individual miners have participating in a mining pool as an option. Also the cost of equipment and electricity needed to make a profit is insane.  Depends on a country you are mining in, but still.

Edited October 4, 2020 by u005c

[Akin Demir 17]

Bitcoin has been very difficult to dig. More bitcoins flow than taps

[khalidforu 51]

Last 10 years before bitcoin mining is very easily with desktop, now a days bitcoin mining is very difficulty to have heavy hardware to mining and huge power loss and get electricity bill.

[kernel14 59]

вы можете начать добывать криптоволюту сидя дома за компьютером с помощью вашиго процессора и видеокарты, но для увеличения добычи вам понадобится купить много различного оборудования

[Wesamqasem 10]

There are ways, but they are expensive, and there are sites, including Al-Sadiq, which lasts a few months, and among them are fraudulent sites that last only a month or two

[mb016427 50]

Bitcoin Mining is a process of extracting Bitcoin, and this process is affected by the total mining power at that time, which means that the more miners the Bitcoin coin, the more mining power increases and thus the difficulty of mining increases. This is like if you are in a gold mine, and you are prospecting for gold among a large group of prospectors, of course, it will be difficult to obtain a large amount of gold, the same is the same as mining Bitcoin now. But the increase in Bitcoin mining, the currency makes its price rise, making the mining process itself well profitable, despite the higher mining difficulty.

 

 

 

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[luismar77 68]

Today not everyone can mine bitcoin because doing it with a pc is not profitable, you need the right machines for this and it involves a large basic investment also in terms of energy, and have the right knowledge to carry out this business 

[Rosarvx 965]

Bitcoin is one of the popular cryptocurrency in the market, as a general idea is profitable, you need to spend a lot of money on some good tools to be able to mine, so don't try

[larryspacca 39]

In this period the profitability of bitcoin miners is very low and this bodes well for an increase in the price of bitcoin, also because the hashrate is constantly increasing

[OVIROY21 499]

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.

[minisrt_black 1112]

the difficulty is that there will be a very large load that will very quickly lead to a bad state of your video cards , so it is better to wait for quantum computers that will be many times faster to mine bitcoins

[huesca123 946]

BTC is hard to mine nowadays. Your competing with huge mining farms, that cost millions of dollars. You can try mining BTC in a pool, even then its not very profitable.

 

You can mine - eth, monero, zcash, ltc & other coins on your computer or with bought asic miners. It all depends on how much you want to spend, how much you understand on how to set the miner up, which pools are more profitable, etc. There are some lesser known coins that are earning a good sum every day, you then exchange your mined coins for btc, eth, etc.