Bitcoin mining is 15% heavier
If you earn on cryptocurrencies, then you are probably either trading digital assets or mining your own coins. Bitcoin, which is engaged in most of the miners, received special attention. Entrepreneurs often work with the first cryptocurrency. It affects the high return on the asset and the relative ease of operation. However, mining complexity is gradually increasing. For example, in recent years, mining has become heavier by 15%. Because of this, many refuse to start productive work with the first coin. Are the experiences justified? Why is mining getting harder? Should I contact the first coin in 2020? Let’s get it right.
About the reasons for the growing complexity
An attentive reader of our site remembers that recently a halving took place in the Bitcoin system. Coin complexity is reduced every 4 years. This is done in order to reduce the speed of crypt mining and somewhat update the market. Recall that the first crypto has limited emissions. The maximum amount of Bitcoins is 21 million. And at the moment, about 16.8 million are already assigned to real users. Another 4 million were non-working due to liquidation of funds.
Thus, a very small number of coins are obtained in the remainder. Therefore, Bitcoin must become heavier in order to extend the life of the system. After all the coins are dispersed to certain users, the pace of trading will significantly decrease, and prices will increase incredibly. Bitcoin will turn into a means of accumulation, and until this happens, the pace of obtaining the first cryptocurrency should be kept in every possible way.
That is why the system is gradually becoming more complex. After halving, the complexity index increased by 15%, now the value is 15.78 trillion hashes. It is worth noting that this value is gradually changing. Bitcoin can adapt to market conditions and, if the price suddenly crashes, mining becomes easier. Thus, the coin tries to stay at the same level and provide the highest possible stability. These natural processes were built from the very first versions of BTC, so you should not be afraid of them. Of course, the technical imperfection of the coin affects. The crypto really uses some outdated algorithms that distance Bitcoin from the level of modern coins. Nevertheless, the coin is still relevant and has to work with what is. Let’s establish: is Bitcoin mining justified in 2020.
Bitcoin mining these days. Justified or overrated?
Even with the nuances described above, Bitcoin is the most expensive coin. Of course, now a fairly small amount is being handed over for mining, but if you seriously engage in crypto mining, you can get a solid income. The day is not far off when Bitcoin will stop supplying new coins, so we recommend grabbing at any opportunity to get the first cryptocurrency. If mine – continue, the growing complexity will not hit your pocket much. Beginners can also start working with the first coin. Remember that it is your equipment that positively affects Bitcoin and benefits the entire system.