Expected Bitcoin Difficulty in 2018

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We keep talking about the bitcoin mining difficulty but what the hell does it actually mean? How is it determined and how does it impact your ability to mine that sweet sweet bitcoin? All great questions and hopefully the answers are below. Mining difficulty refers to how hard it is to actually solve a hash and release a block of bitcoin. Currently each block contains When a block is solved, The mining difficulty across the bitcoin network is adjusted at set points to ensure that a steady stream of bitcoin is being released to the world.

What determines bitcoin mining difficulty mining difficulty is adjusted automatically each time blocks are solved. The goal is to keep the block solution time to about 10 minutes from the global hashing rate. Roughly every 10 minutes This ensures that a steady supply of what determines bitcoin mining difficulty are released until the overall supply of bitcoin that can be created is exhausted. No more, no less.

The bitcoin mining difficulty is adjusted about every two weeks. It was adjusted last night and is predicted to adjust again around two weeks what determines bitcoin mining difficulty now. This is the what determines bitcoin mining difficulty way to think about it. Essentially, the more mining that is occurring. The more hash rate there is globally, the faster the bitcoin will be mined. In turn, the higher the difficulty will adjust in order to keep to the 10 minute block goal.

Conversely, when total hash rate goes down, bitcoin mining is slower and the difficulty would adjust lower to again, keep to the 10 minute block goal. Let us use some simple math for a minute just to get an idea of how this impacts your mining.

I know, I know, suspend disbelief with me for a moment. Lets see how that works. It works the same way when the difficulty decreases but in the opposite direction. You would be receiving more bitcoin for the same what determines bitcoin mining difficulty rate. You can overcome the mining difficulty increase in what determines bitcoin mining difficulty of 2 ways.

First, if the price of bitcoin raises and out paces the difficulty increases you will continue to make money at the same hash rate. Second, you can continue to purchase more hash rate to outpace the difficulty increases. With hashflare you have he ability to reinvest your daily bitcoin mining payouts which will help you outpace the difficulty increases. In addition to that the price of bitcoin is overall on a steady incline so I continue to personally invest. Because of the inability to predict the future mining difficulty changes and the day to day price of bitcoin, it is almost impossible to predict future performance with any accuracy.

Anyone that tells you they can, is simply not being honest with you. For bitcoin mining and crytpo investing it is best to follow the golden rule. Do not invest more than your willing to lose.

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There are lots of videos and articles on what Bitcoin difficulty is, and lots of charts on how it has changed over the past couple of years. But this isn't really helpful if you're thinking about investing in cloud mining, or maybe even buying your own mining rig. We focus on key factors that may affect Bitcoin's difficulty in this guide. If you're looking for how profitable ASIC miners are in , see this guide. So let's start by looking at how Bitcoin difficulty has changed every 4 months for the past 3 years:.

Sep - As of 19th December , many difficulty charts, including the one above, seem to be displaying outdated data. We've posted a video explaining the cause of this here. Looking at the Blockchain chart above for the past 2 years, it definitely looks exponential; e.

But the figures for the past 3 years don't do that, they vary significantly. In it took around 11 months for the difficulty to double, in early around 6 months, in late around 8 months and then in between months.

Rather than doubling at a consistent interval, it seems to vary based on factors like available hardware and public interest. What we're suggesting is that the rate Bitcoin difficulty is increasing is not fixed, and can be anticipated. Right now, in December , Bitcoin is very popular, with thousands of new investors and miners every day - so significant difficulty increases are to be expected.

Many new people are interested in bitcoin mining, allowing hardware manufacturers to sell miners in larger quantities, causing more total hashpower to be available - driving Bitcoin difficulty up. The key relationship here is that the amount of new hardware becoming available is strongly linked to the demand for it.

A risk is that if the people making these miners produce too many, the difficulty will rise so fast that Bitcoin mining profitability goes down massively. This occurred for Dash when the Antminer D3 came out. There are also scenarios that can cause Bitcoin's difficulty to decrease. August is a good example of this, where a lot of miners moved their hashpower to mine Bitcoin Cash as it was more profitable at the time. This decreased hashpower mining Bitcoin, causing Bitcoin's difficulty to decrease for 2 weeks.

If you stay up-to-date with these types of scenarios and mine the more profitable coins Bitcoin Cash in this scenario , you can get extra coins for 2 weeks and sell them immediately for a great return on investment or just HODL them! Another argument suggesting Bitcoin mining will remain profitable long-term is to look at it from the perspective of large mining operations. If you were a miner running a large setup, and Bitcoin mining was to no longer be profitable, then you'd likely start mining something else that was.

If there were no profitable coins for a long period of time, you'd likely have very high operating costs and be forced to shut down your operation eventually. For a smaller miner running just a few Antminers or some cloud mining, this would be less of an issue. So in theory as long as Bitcoin stays popular and its price continues to increase, if you can get cheap electricity Bitcoin mining should always stay profitable. This last argument in particular is very speculative, so be aware that for a worst-case scenario if Bitcoin's price was to fall for a long-period of time, even if you had cheap electricity, there's a risk that mining it would no longer be profitable.

In June , the reward for Bitcoin mining will half. This could cause big issues in the long-term as it essentially makes it half as profitable overnight. So if miners are only making a small profit prior to this, they'll then be running at a loss just after it. At this point open-ended contracts on sites like Genesis Mining will likely no longer be profitable although they might not even last that long.

This site cannot substitute for professional investment or financial advice, or independent factual verification.

This guide is provided for general informational purposes only. The group of individuals writing these guides are cryptocurrency enthusiasts and investors, not financial advisors.

Trading or mining any form of cryptocurrency is very high risk, so never invest money you can't afford to lose - you should be prepared to sustain a total loss of all invested money. This website is monetised through affiliate links. Where used, we will disclose this and make no attempt to hide it. We don't endorse any affiliate services we use - and will not be liable for any damage, expense or other loss you may suffer from using any of these.

Don't rush into anything, do your own research. As we write new content, we will update this disclaimer to encompass it. We first discovered Bitcoin in late , and wanted to get everyone around us involved. But no one seemed to know what it was!

We made this website to try and fix this, to get everyone up-to-speed! Click here for more information on these.

All information on this website is for general informational purposes only, it is not intended to provide legal or financial advice. Expected Bitcoin Difficulty in Sep 19th, Updated Jan 26th, Mining There are lots of videos and articles on what Bitcoin difficulty is, and lots of charts on how it has changed over the past couple of years.

This guide has our thoughts on what will affect Bitcoin difficulty over So let's start by looking at how Bitcoin difficulty has changed every 4 months for the past 3 years: Rate of Bitcoin difficulty increase Looking at the Blockchain chart above for the past 2 years, it definitely looks exponential; e.

May 5th, What is the Antminer Z9 Mini? Written by the Anything Crypto team We first discovered Bitcoin in late , and wanted to get everyone around us involved. Never invest money you can't afford to lose.