#bitcoinminingdifficulty

[cryptonews94]

What is bitcoin mining difficulty? Mining difficulty refers to how hard it is to actually solve a hash and release a block of bitcoin.  Currently each block contains 12.5 bitcoins.  When a block is solved, 12.5 new bitcoin are released to the wild.  The miningdifficulty across the bitcoin network is adjusted at set points to ensure that a steady stream of bitcoin is being released to the world. When is bitcoin mining difficulty adjusted? The mining difficulty is adjusted automatically each time 2016 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 12.5 new bitcoin are released and can be bought or sold.  This ensures that a steady supply of bitcoin are released until the overall supply of bitcoin that can be created is exhausted.  21 million is the number.  No more, no less.  The bitcoin miningdifficulty is adjusted about every two weeks.  Can the mining difficulty go down? Absolutely.  This is the easiest 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. What does this mean for you? Let us use some simple math for a minute just to get an idea of how this impacts yourmining.  Let’s say for the sake of argument that 1 bitcoin equals 1 dollar and that 1 Th/s of mining gets you 1 bitcoin a day. Yesterday the bitcoin mining difficulty went up by 15%. Lets see how that works.  Yesterday you would have received 1 bitcoin from your 1 Th/s and it would be worth 1 dollar.  Today though, your 1 Th/s would only payout to you .85 bitcoin resulting in .85 cents of value.  Your mining will now net you 15% less for the same hash rate.  It works the same way when the difficulty decreases but in the opposite. #bitcoin #btc #bitcoinmining #miningrig #bitcoinminingdifficulty #difficulty #business

[bitcoinreferral-blog]

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